So I read this book over the course of a weekend, and I have realized that I have done some neglecting on other parts of my life. Well, lets get some cliffs first..
This book is about someone who is financially free (just like what we all want) who goes over lessons he learned growing up from two fathers, named rich dad and poor dad. Rich dad never got past 8th grade, and poor dad was a college educated PhD.
One of the fundamental concepts that the book goes over that applies to our lives, is the concept of liabilities, and assets. Rich people buy assets, poor people buy liabilities.
Assets- things you own, that generate money without you needing to do anything (stocks that increase in value, your forex position going positive, collecting rent, owning a business)
Liabilities- things that cost you money (paying your car payments, paying your mortgage, paying for insurance on some boat you bought)
A house that generates money in form of rent, is an asset. A house you live in, that costs you upkeep and taxes every single year, is a liability. SURE, the value might theoretically go up, but until you cash it, all that thing is doing is sucking out your money.
Now the point of this is, how many of us spends our paychecks on liabilities, instead of collecting assets? The author of the book uses his assets to pay for his toys, yet all of us poor people pay for toys with our paychecks. No wonder we never have money to do anything.
Now, my original goal was never to just do 100% forex. I wanted to invest in a lot of stuff. But while I spent my time learning forex and getting better at it, I spent zero time on that “a lot of other stuff”, because like many people, I brushed it off and thought I wouldn’t need to worry about it until I had the money.
WHAT IF I thought the same about forex? What if I put off learning it until I saved up $50,000 for a standard account? Does this mean my forex education begins when I’m a ripe 40 yr old instead of when Im 25? Jeezus. I’ve been fu*cking up.
I didn’t decide to work out for a nice body before I worked on my personality. I didn’t wait until I had enough money to learn how to trade. So I’m definitely not going to wait until i have “alot of money” before I learn to invest in real estate.
I spent all day reading about real estate on different forums. And I’m going to the library later to borrow some real estate books. I’m on the net looking for real estate courses. Jeezus, I am wasting my time away.
So here is my current buffet of busy life that I got 5 days a week:
full time job (40 hours)
full time forex (I trade during 2.5 sessions per day, I sleep for half)
workout 4x a week
real estate 101
What do I do on my weekend? Well, I got my gf and friends.
Time to get busy!