Showing posts with label life-long wealth. Show all posts
Showing posts with label life-long wealth. Show all posts
Monday, May 2, 2011
394. Plan for the Future
Plan for the well-being of your descendents. Plan at least 3 generations ahead. My grandparents and parents planned for my well-being by making sure I received an education that allowed me to make a living. Your responsibility to the future generations is to take what has been passed on to you, improve on it and pass it on to the next crew to take over from us. Keep this journal and add to it the wisdom you acquire personally and preserve the knowledge for your children and grandchildren. Pass on any wealth you gain for them so that they may continue to live in prosperity. Try to ensure that they choose wisely in the spouses they pick because they should avoid divorces. Divorces weaken the wealth that we are working to build. It can be difficult to do this without trying to control the children too closely when they become adults but with wisdom and diplomacy you should be a great influence (for good) on them.
Sunday, July 25, 2010
88. The Purpose of Your Financial Education - Your Financial I.Q.
Your financial education is a tool box that allows you to convert the maximum possible percentage of the money you earn by working at your profession into capital that will provide you with life-long wealth and security.
The purpose of educating yourself financially is to raise your Financial I.Q.
Financial I.Q. is not about how much money you make but about how much you keep and for how long and how hard it works for you.
You know that your Financial I.Q. is increasing when your money is buying you more freedom, happiness, health, fun and choices in life than before. The reason people say that money is power is that it gives you more choices.
Remember, the more you NEED money, the less power you have. You have power over money - never become a slave to it.
It is a grave mistake too, to ever think of yourself as poor. If you have no money, you are merely broke. Being broke is temporary, being poor is eternal. Remember this because it is a very important distinction.
Never say "I can't afford it." Rather, you should ask yourself "How can I afford it?" This has the effect of forcing your mind to focus on the solution, not the problem an to think for its self. The other way leads the mind to accept the statement and give up trying.
The purpose of educating yourself financially is to raise your Financial I.Q.
Financial I.Q. is not about how much money you make but about how much you keep and for how long and how hard it works for you.
You know that your Financial I.Q. is increasing when your money is buying you more freedom, happiness, health, fun and choices in life than before. The reason people say that money is power is that it gives you more choices.
Remember, the more you NEED money, the less power you have. You have power over money - never become a slave to it.
It is a grave mistake too, to ever think of yourself as poor. If you have no money, you are merely broke. Being broke is temporary, being poor is eternal. Remember this because it is a very important distinction.
Never say "I can't afford it." Rather, you should ask yourself "How can I afford it?" This has the effect of forcing your mind to focus on the solution, not the problem an to think for its self. The other way leads the mind to accept the statement and give up trying.
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