Friday, April 29, 2016

How the Rich Think by Steve Siebold Part 7

Working for money vs working for fulfillment.
This is ultimately why I want to get rich.

You have to do something to get rich vs you have to be something to get rich

Plays it safe with money vs takes calculated risks

Have to have money to make money vs believes in using other people’s money

Jobs are the safest way to earn money vs believes outstanding performance is the safest way to earn money
If I remember right the book talked about how switching jobs a lot isn't a problem if you're an outstanding performer.

Believes in financial scarcity vs believes in financial abundance
a.            Do you believe you have the potential to earn as much money as you wish?
i.                No.  
b.            If not, why not?
 .                I almost feel like money is this imaginary thing and that making gobs and gobs of it will have to happen by someone bestowing it upon me or something like someone showing me how to do it step by step.
c.            I think having a house in bountiful paid off ($250,000) plus two or three rentals to cover living expenses would be enough for me so approximately 450k.  My tentative plan is to save up enough money to be able to quit my job to work on business and try and have said business already going by the time I quit and then I can just grow that thing once I quit.  Aside from quitting and going that route though I don’t know how I could muster enough desire and time to really work on something because otherwise I’m just too comfortable with my life as is.  And the next time a house with big potential in bountiful pops up I may just go ham and take a big risk and flip it to try and make a profit on it like the last one we lost out on.

Money as a weapon vs money as a tool
a.            Top 5 reasons I want to be rich:
i.                Stress of raising a family and being retired and able to provide for all my needs when I’m unable physically to work
ii.                Enjoy the finer things in life and have more conveniences like a second car (both nice), go on trips, restaurants, go to the gym
iii.                Be able to help other people and enrich their lives and give them opportunities and help them when they’re unable to help themselves.
iv.                Have fun.  Take people/family out to do things.
v.                Do what I really want to do.

Aren’t worthy of great wealth vs they deserve to be rich
a.            Whether you believe you deserve to be rich or not, you are right. I think that quote is attributed to Henry Ford. Its all in the head people.

Denies the importance of money vs knows money is a critical component of life

a.            “Money isn’t everything… but it ranks right up there with oxygen." Loooove this quote since its true and funny.

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