Robert Kiyosaki, Author of Rich Dad, Poor Dad said and I quote “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant. Great opportunities are seen with your mind and not your eyes. It is what you know that is your greatest wealth and what you don’t that is your greatest risk.”
The first time I read the book titled Rich Dad Poor Dad a few years back during my undergraduate years and he wrote about how the government got paid first on every employee’s income before the employee even saw his income, how the tax system work and the law in general. I thought it applies to only to only his own country and forgot all about the book. I graduated from school and started looking for job like most graduates usually do and are still doing. I got one and strived to work harder everyday to increase my income through promotion. Then something happened that changed my mind totally about working harder for more money!
At the beginning of every financial year in my company, each employee would be appraised and promoted based on your appraisal or your performance throughout the previous year. I was promoted quite alright but then the tax wiped out every single penny that was added to my salary! Was I mad? I was so mad but I was mad at the wrong people because I should be mad enough at myself to think of ways to convert my earned income into passive ones. I was mad at my company, at my manager and everything that was related to that company and I stayed mad for a very long time. I was depressed at work which made the job difficult than it really was and I got angry and tired easily and all I could think of was getting another better job.
Well, I wasn’t alone in that. Some of my colleagues actually resigned while others kept searching for better job and I wasn’t left out for a while until I realized that getting another job is not the answer! I did get another job but I realized the higher my income, the higher the tax that would be deducted, the harder and longer I have to work and I won’t even have anytime to do anything just for myself!
I have always wanted to be rich,(I guess that is everybody’s dream, right?),I want to own nice cars, buy houses and be free to do whatever I like and I have always thought I would start making plans to be rich when I grow older. I am still too young to make such plans, I thought to myself but I came across this book again during my last vacation. A guy that was seated beside me on the plane just came across “Rich Dad Poor Dad” for the first time and I guessed he was eager and excited to share what he had just read. We started discussing the book in details and everything I have read in it came back like a flash. I bought the book again immediately I landed in Lagos and went home to read it…….Again!
That man was like a God-sent to me because I realized I have been searching for the answer to my problem in the wrong place. The moment to start planning for my future is NOW and the moment my thought changed, so did my life. I need to start making plans to build my wealth, the kind of wealth that would not require me to work harder but smarter, the kind that would not attracts huge taxes as it increases and the kind that would continue to increase, even when I am on vacation or when I eventually decided to stop working physically!
In other words, you are what you put in your mind and a reflection of your thoughts. It takes a dream, lots of determination, a willingness to learn quickly and keep learning, the ability to use your God-given talents properly and a reason bigger than reality to succeed.
Robert Kiyosaki said the difference between the Rich and the poor is the way they think and once you can think like the rich, you have taken your first step towards financial freedom. You need to trained your mind to be financially literate, you must know the difference between assets and liability and accumulate assets, not liabilities! The rich buy assets, the poor only have expenses and middle class buys liability.
Learn to fill your mind with positive things, start small but think big. Money is a form of power but what is more powerful is financial education. Money comes and goes but if you have the education about how money works, you gain power over it and can start building wealth.
Definition of wealth according to Robert is “The number of days you can survive without physically working or anyone else in your household physically working and still maintain your standard of living”. Education is the foundation of success, Robert said, just as scholastic skills are vitally important, so are financial and communication skills
Financial literacy is the ability to read and understand financial statements and that is accounting. Investing is science of money making money. Financial intelligence is simply having more than one options, it is how creative you are in solving financial problems.
Our mind is our greatest asset and when you learn to use it the right way, you shall attain your dreams faster than you expect.
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