I wanted out of the trap of being an employee so...
I wanted out of the trap of being an employee so badly that I worked harder, not lessBy 1978,I was consistently one of the top five salespeople in sales, often NoI badly wanted out of the rat race
In less than three years, I was making more in my own little corporation, which was a real estate holding company, than I was making at XeroxAnd the money I was making in my asset column, in my own corporation, was money working for me Not me pounding on doors selling copiersMy rich dad's advice made much more sense Soon the cash flow from my properties was so strong that my company bought me my first PorscheMy fellow Xerox salespeople thought I was spending my commissionsI was investing my commissions in assets
My money was working hard to make more money Each dollar in my asset column was a great employee, working hard to small chanel purse make more employees and buy the boss a new Porsche with before-tax dollars I began to work harder for XeroxThe plan was working, and my Porsche was the proof
By using the lessons I learned from my rich dad, I was able to get out of the "proverbial rat race" of being an employee at an early ageIt was made possible because of the strong financial knowledge I had acquired through these lessonsWithout this financial knowledge, which I call financial IQ, my road to financial independence would have been much more difficultI now teach others through financial seminars in the hope that I may share my knowledge with themWhenever I do my talks, I remind people that financial IQ is made up of knowledge from four broad areas of expertiseWhat I call financial literacyA vital skill if you want to build an empireThe more money you are dior saddle handbag responsible for, the more accuracy is required, or the house comes tumbling downThis is the left brain side, or the detailsFinancial literacy is the ability to read and understand financial statementsThis ability allows you to identify the strengths and weaknesses of any businessWhat I call the science of money making moneyThis involves strategies and formulasThis is the right brain side, or the creative side3 is understanding marketsThe science of supply and demandThere is a need to know the "technical" aspects of the market, which is emotion driven; the Tickle Me Elmo doll during Christmas 1996 is a case of a technical or emotion-driven marketThe other market factor is the "fundamental" or the economic sense of an investmentDoes an investment make sense or does it not make sense based on the current market fake cheap chanel handbags with cc logo conditions
Many people think the concepts of investing and understanding the market are too complex for kidsThey fail to see that kids know those subjects intuitivelyFor those not familiar with the Elmo doll, it was a Sesame Street character that was highly touted to the kids just before ChristmasMost all kids wanted one, and put it at the top of their Christmas listMany parents wondered if the company intentionally held the product off the market, while continuing to advertise it for ChristmasA panic set in due to high demand and lack of supplyHaving no dolls to buy in the stores, scalpers saw an opportunity to make a small fortune from desperate parentsThe unlucky parents who did not find a doll were forced to buy another toy for ChristmasThe incredible popularity of the Tickle Me Elmo doll made no sense to me, but it serves as black prada leather handbag an excellent example of supply and demand economicsThe same thing goes on in the stock, bond, real estate and baseball-card marketsFor instance, utilizing a corporation wrapped around the technical skills of accounting, investing and markets can aid explosive growthAn individual with the knowledge of the tax advantages and protection provided by a corporation can get rich so much faster than someone who is an employee or a small-business sole proprietorIt's like the difference between someone walking and someone flyingThe difference is profound when it comes to long-term wealthTax advantages: A corporation can do so many things that an individual cannotLike pay for expenses before it pays taxesThat is a whole area of expertise that is so exciting, but not necessary to get into unless you have sizable assets or a coco chanel necklace busines