strIQ’s Post

"The poor and the middle class work for money but the rich have money work for them" This is one of my favorite quotes by Robert Kiyosaki from his book, 'Rich Dad Poor Dad' It had one of the biggest impacts on my life. (You definitely need to get this book because there's so much gold in there). Think about this. Every day, if you're a W-2 employee, you go work for a corporation, you go work for other people. And what do you do?  You work to help them, You grow their enterprise value, and you receive a check for that. But what if you could invest in assets that produce cash flow and appreciate, and then those things work for you. Other people work for you. Your real state works for you. Your other assets work for you so that you make money while you sleep. That's the paradigm shift we need to move from: from the safety net of the W-2 and your job to thinking about what are the assets you can invest in so that now you've got money working for you. #richdadpoordad #shorttermrentals #assets

"The poor and the middle class work for money but the rich have money work for them" This is one of my favorite quotes by Robert Kiyosaki from his book, 'Rich Dad Poor Dad' It had one of the biggest impacts on my life. (You definitely need to get this book because there's so much gold in there). Think about this. Every day, if you're a W-2 employee, you go work for a corporation, you go work for other people. And what do you do? You work to help them, You grow their enterprise value, and you receive a check for that. But what if you could invest in assets that produce cash flow and appreciate, and then those things work for you. Other people work for you. Your real state works for you. Your other assets work for you so that you make money while you sleep. That's the paradigm shift we need to move from: from the safety net of the W-2 and your job to thinking about what are the assets you can invest in so that now you've got money working for you. #richdadpoordad #shorttermrentals #assets

"The poor and the middle class work for money but the rich have money work for them" This is one of my favorite quotes by Robert Kiyosaki from his book, 'Rich Dad Poor Dad' It had one of the biggest impacts on my life. (You definitely need to get this book because there's so much gold in there). Think about this. Every day, if you're a W-2 employee, you go work for a corporation, you go work for other people. And what do you do? You work to help them, You grow their enterprise value, and you receive a check for that. But what if you could invest in assets that produce cash flow and appreciate, and then those things work for you. Other people work for you. Your real state works for you. Your other assets work for you so that you make money while you sleep. That's the paradigm shift we need to move from: from the safety net of the W-2 and your job to thinking about what are the assets you can invest in so that now you've got money working for you. #shorttermrental #richdadpoordad #investing

Rich Dad Poor Dad By Robert Kiyosaki Early on, this book created one of my biggest mindset shifts. ✅ Here are 5 key ideas from the book: ▶ 1. The rich don't work for money, they make money work for them. This is done in the form of accumulating assets. The poor and middle class try to keep up with the Jones's by buying things they don't need. ▶ 2. Assets put money in your pocket, liabilities take money out. The biggest example of this is your home. Most would say their home is an asset. But it takes money out of your pocket. ▶ 3. Mind your own business. Focus on your own bottom line and continue to buy assets. Assets are anything of value that provides a positive cash flow. ▶ 4. Knowledge is power. The best way to become financially free is to learn a little about a lot. Learn about accounting, taxes, investing and understanding the market. ▶ 5. The rich invent money. Failure inspires winners while it defeats losers. Push away the self doubt and act! Most sit back and wait for the perfect opportunity. Don't be afraid to act and learn along the way. #Improve #Inspiration #RichDadPoorDad #MindsetShift

“A salary is the drug they give you to forget your dreams.” A quote that shakes me to my core. I don’t want you to forget about your big dreams. In fact, I want you going ALL IN on them. People often get their money mindset mixed up. They think and make decisions out of scarcity rather than abundance. And one of the big ways this happens is by thinking that money and success will come to you before you invest in that thing, so you can be comfortable spending that money on yourself. It does not. Money does not come before the thing or the investment in the thing. Success does not come before the thing. Generational wealth does not just fall into your lap. It is easy to get stuck in a loop of overthinking where you want to do big things but aren't willing to invest in yourself, and so you keep overthinking rather than getting solutions through investment. You are worth the investment. Remember that. -M 𝐻𝑖! 𝐼’𝑚 𝑀𝑜𝑙𝑙𝑦 𝑎𝑛𝑑 𝐼 𝑙𝑜𝑣𝑒 𝑡𝑟𝑎𝑖𝑛𝑖𝑛𝑔 𝑎𝑡𝑡𝑜𝑟𝑛𝑒𝑦𝑠 𝑡𝑜 𝑏𝑢𝑖𝑙𝑑 𝑎 𝑚𝑒𝑎𝑛𝑖𝑛𝑔𝑓𝑢𝑙 𝑏𝑜𝑜𝑘 𝑜𝑓 𝑏𝑢𝑠𝑖𝑛𝑒𝑠𝑠. 𝑆𝑎𝑦 ℎ𝑖 𝑜𝑟 𝑠𝑖𝑔𝑛 𝑢𝑝 𝑓𝑜𝑟 𝑚𝑦 𝑛𝑒𝑤𝑠𝑙𝑒𝑡𝑡𝑒𝑟. 𝐿𝑖𝑛𝑘𝑒𝑑 𝑖𝑛 𝑏𝑖𝑜. 𝑆𝑒𝑒 𝑦𝑜𝑢 𝑡ℎ𝑒𝑟𝑒 𝑓𝑟𝑖𝑒𝑛𝑑𝑠!

Top 10 lessons from the book "Rich dad poor dad" 1. To become financially secure, a person needs to mind their own business. 2. Rich people buy luxuries last, while the poor and middle class tend to buy luxuries first. 3. I can’t afford it” causes sadness, a helplessness that leads to despondency and often depression. ‘How can I afford it?” opens up possibilities, excitement and dreams. 4. Making more money would not solve your problems if you are not financially literate. 5. Taxes are highest on earned income and lowest on passive. “The government taxes the income you work hard for more than the income your money works hard for. 6. If you work for money, you give the power to your employer. If money works for you, you keep the power and control it. 7. A job is a short-term solution to a long-term problem. 8. When it comes to money, most people want to play it safe and feel secure. So, passion does not direct them. Fear does. 9. The world is filled with “talented poor people”. 10. Without a strong reason or purpose, anything in life is hard. #richdadpoordad #book #onarshquest

7 Critical Lessons From The Book "The Psychology Of Money" 1. Spending money to show people how much money you have is the fastest way to have less money. 2. Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time. 3. Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want. 4. Saving is the gap between your ego and your income. 5. Planning is important, but the most important part of every plan is to plan on the plan not going according to plan. 6. Doing something you love on a schedule you can’t control can feel the same as doing something you hate. 7. Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.

When life gives you lemons, sell them and buy your financially fit for life guide book at https://lnkd.in/d-T5dCf8! 🍋💹 #FinancialHumor #financiallyfit #financialfreedom

Never let your emotions dictate your money decisions. Thinking Fast and Slow by Daniel Kahneman is a great book that explains how our brains trick us into making bad money decisions. Loss aversion is a key concept discussed in the book. Loss aversion helps explain why we hold onto losing investments way longer than we should. We feel the pain of losses more than the pleasure of gains, so we might make irrational decisions to avoid losses. Losing $100 feels twice as bad as gaining $100. And because the pain of losing something is stronger than the pleasure of gaining the same thing, this can lead to irrational decision-making. The book also discusses the concept of attitude to risk, which is influenced by loss aversion. We tend to be risk-averse when it comes to gains, but risk-seeking when it comes to losses. This can lead to our holding onto losing stocks in the hope that they will bounce back, rather than selling them and realizing a loss. I recommend this book to anyone looking to level up their mindset and psychology around money. Do you think it's important to understand the psychological factors that influence our decision-making processes?