Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
Monday, March 28, 2011
358. Leverage
The next most imprtant word (after "Cashflow") in the financial world is "Leverage." This is the reason some become rich while others do not. Leverage is power. Some learn to use it, others have it used against them and yet others fear it. Learn to use the power of leveraged debt in your favour. There are two types of debt : good and bad. Leveraged debt is good debt. Good debt is defined as debt that makes you rich, an example is debt incurred while trading options. Bad debt is defined as debt that makes you poor, an example is excessive consumer debt.
Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
Thursday, February 24, 2011
357. Who You Are
Find your rock, who you are and defend that to the last. Only then can you defend others.
Posted by
Dominic Mulvey
at
5:12 PM
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Labels:
defence of others,
defence of Self,
remembering who you really are
Tuesday, February 15, 2011
356. Here is a Great Thought
http://www.212movie.com/
Monday, January 31, 2011
355. Cashflow
"Cashflow" is the most important word in the world of money. Cashflow - the flow of cash.
Cashflow can be positive - i.e. you have more cash coming in than going out. This is always a good thing. Negative cashflow is when you have more money going out than coming in. This is a bad thing, it leads to debt and misery. Neutral cashflow - the same amount coming in as going out (also known as red-lining) is also a bad thing. It is stagnation as the value is being eroded by inflation,
Cashflow can be positive - i.e. you have more cash coming in than going out. This is always a good thing. Negative cashflow is when you have more money going out than coming in. This is a bad thing, it leads to debt and misery. Neutral cashflow - the same amount coming in as going out (also known as red-lining) is also a bad thing. It is stagnation as the value is being eroded by inflation,
Posted by
Dominic Mulvey
at
10:14 PM
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Labels:
debt,
inflation,
misery,
negatine cashflow,
neutral cashflow,
positive cashflow,
red-lining
354. Genius
"Genius sees the answer before the question." -Robert Oppenheimer
353. Expertise, Confidence
If you study any subject for an hour a day, every day, eventually you will become THE world expert on that subject. No-one will know more about it than you. Learn to have this level of confidence in your self. There is a fashion these days to denigrate experts and to dismiss their knowledge. This is the small mind syndrome in action. You must never accept this treatment of your superior knowledge from those who are your inferiors. State loudly and clearly that you are the expert and demand to know what credentials your attackers have that makes them think that they have the right to challenge you. Then set about demolishing their positions entirely.
As an expert, read constantly. Build on your knowledge every day. Use your knowledge to help, instruct, enlighten and inform.
As an expert, read constantly. Build on your knowledge every day. Use your knowledge to help, instruct, enlighten and inform.
Posted by
Dominic Mulvey
at
10:00 PM
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comments
Labels:
confidence,
expertise,
small-mindedness,
study
352. The Killer Instinct
Only you yourself can know for certain if you have the killer instinct or not. If you have, nurture it. If you haven't then cultivate it. Become determined to give the competition a good strong taste of their own medicine.
Posted by
Dominic Mulvey
at
9:49 PM
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comments
Labels:
competition,
killer instinct,
know thyself,
taste of their own medicine
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