| We burned them once they got too tatteredWe tried opening a branch office, but we could never quite find someone as dedicated as Mike's sister we could trust
At an early age, we found out how hard it was to find good staff
Three months after the library first opened, a fight broke out in the roomSome bullies from another neighborhood pushed their way in and started itMike's dad suggested we shut down the businessSo our comic-book business shut down, and we stopped working on Saturdays at the convenience storeAnyway, rich dad was excited because he had new things he wanted to teach usHe was happy because we had learned our first lesson so wellWe had learned to have money work for usBy not getting paid for our work at the store, we were forced to use our imaginations to identify an opportunity to make moneyBy starting our own business, the comic-book library, we were in control of prada handbags replica our own finances, not dependent on an employerThe best part was that our business generated money for us, even when we weren't physically thereOur money worked for usInstead of paying us money, rich dad had given us so much more
CHAPTER THREE
Lesson Two:Why Teach Financial Literacy?
In 1990, my best friend, Mike, took over his father's empire and is, in fact, doing a better job than his dad didWe see each other once or twice a year on the golf courseHe and his wife are wealthier than you could imagineRich dad's empire is in great hands, and Mike is now grooming his son to take his place, as his dad had groomed us
In 1994, I retired at the age of 47, and my wife, Kim, was 37Retirement does not mean not workingTo my wife and me, it means that barring unforeseen cataclysmic changes, we can work or not work, and our wealth grows automatically, staying way ahead of inflationI guess gucci knockoffs it means freedomThe assets are large enough to grow by themselvesIt's like planting a treeYou water it for years and then one day it doesn't need you anymoreIt's roots have gone down deep enoughThen, the tree provides shade for your enjoyment
Mike chose to run the empire and I chose to retire
Whenever I speak to groups of people, they often ask what I would recommend or what could they do? "How do they get started?" "Is there a good book I would recommend?" "What should they do to prepare their children?" "What is the secret to success?" "How do I make millions?" I am always reminded of this article I was once given
THE RICHEST BUSINESSMEN
In 1923 a group of our greatest leaders and richest businessmen held a meeting at the Edgewater Beach hotel in ChicagoAmong them were Charles Schwab, head of the largest independent steel company; Samuel Instill, president of the world's omega speedmaster day date largest utility; Howard Hopson, head of the largest gas company; Ivar Kreuger president of the International Match Co one of the world's largest companies at that time; Leon Frazier, president of the Bank of International Settlements; Richard Whitney, president of the New York Stock Exchange; Arthur Cotton and Jesse Livermore, two of the biggest stock speculators; and Albert Fall, a member of President Harding's cabinetTwenty five years later nine of them (those listed above) ended as followsSchwab died penniless after living for five years on borrowed moneyInstill died broke living in a foreign landKreuger and Cotton also died brokeWhitney and Albert Fall were just released from prisonFraser and Livermore committed suicide
I doubt if anyone can say what really happened to these menIf you look at the date, 1923, it was just before the 1929 market crash and the Great Depression, which omega speedmaster watches I suspect had a great impact on these men and their livesThe point is this: Today we live in times of greater and faster change than these men didI suspect there will be many booms and busts in the next 25 years that will parallel the ups and downs these men facedI am concerned that too many people are focused too much on money and not their greatest wealth, which is their educationIf people are prepared to be flexible, keep an open mind and learn, they will grow richer and richer through the changesIf they think money will solve problems, I am afraid those people will have a rough rideIntelligence solves problems and produces moneyMoney without financial intelligence is money soon gone
Most people fail to realize that in life, it's not how much money you make, it's how much money you keepWe have all heard stories of lottery winners who are poor, then suddenly rich, then poor gucci ladies watch again |
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