Friday, June 12, 2009

Assets and liability

Never Give Up

Why the rich get richer and the poor get poorer?

The rich have the money to work for them as they have created many stream of income.Which are passive income ,so they no need to work to make money.

As the book " Rich dad poor Dad " by Robert kiyosaki mention that assets put money into your pocket and liability take money out of your pocket.

The poor focus on Earn income which they have to exchange time for money.They only have one stream of income.If you tell a person with poor mindset then they probably tell you that they will take up another job to have more income.

I have seen many people are making 2 to 3k paycheck a month who are suffering from paying car expenses month after month.As the prices are increasing but their pay are decreasing because of inflation.

Passive income is the key factor to make you rich
Think and Grow Rich Now - Assets Is wealth

Thursday, June 11, 2009

Think And Grow Rich - Overcoming is part of success

Treat obstacle as a Challenge or a motivation to help you succeed..Person with no drive can't be successful.

Successful people always treat obstacle as a challenge and overcome them.instead of treating it as a setback that discourage them or stop them from succeeding

Poor people afraid of obstacle ,they treat obstacle as a failure.They give up easily when setback arise.There always obstacles before any success

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”- Colin Powell quotes

Wednesday, June 10, 2009

Monday, June 8, 2009

Think and Grow rich - Assets make you rich

To be rich and wealthy , you need to know what is assets and what is laibility. As robert kiyosaki mention in "rich dad poor dad" Assets is something that put money in your pocket and liabilty take money out of your pocket.

For example car is a liability because it take money out of your pocket every month.

But there are still many people think that the car are assets which they can sell away and get cash but remember that what you spend is much more than what you take back

Assets are real estate that you own and you rent to people .what you get from the rental are passive income which make the real estate an assets.

Keep increasing you assets instead of liability which many people are doing that make them poorer.There are people who make 10k a month or even more but they are spending on liability which make them poorer even they are making 10k a month.

To think and grow rich you need to know that Assets is the real wealth not cash

Sunday, June 7, 2009

Rich invest instead of gamble

Why the rich invest in stock but the poor gambling in stock.

The rich know what they are doing as they understand before they invest which is unlike like the poor who just throw money in the market and hope that the stock will go up so they can make some money.

Many people think investing in stock
is risky because they have no idea of the company.But the rich do
understand the company before invest so what they invest have risk but
is not risky

Without knowing what you investing is gambling.

"Emotions are your worst enemy in the stock market.-Don Hays