Money is their enemy vs money is their friend
a.
Money is not
materialistic, people are materialistic
b.
The great ones continue
to cultivate and nurture their relationship with money by thinking about how to
earn more, invest wiser, and leverage as much as possible. The rich do this so
well they often acquire much more money than they’ll ever want or need, which
is typically when they turn their attention to giving the excess away to
charitable organizations. These groups wouldn’t survive without the success and
generosity of the wealthy who have adopted money as a close friend.
c.
Do I see money as my
friend or something you wish you didn’t have to think about? This is a
super interesting question because I think for myself that I wish I
couldn’t/didn’t have to think about money. I don’t consider it a friend.
A friend is someone who listens to you and helps you and gives you love
and affection. Of course money is an inannimate object and is incapable
of actually doing those things in a physical sense, but it can also kinda do
those things by buying people lunch, buying them gifts, buying them time with
family and friends, helping when help is needed to get certain things done when
it isn’t possible to do on one’s own. It can entertain us and bring
things to us. Certainly money wouldn’t want to come to me if I didn’t
treat it like a good friend and it is no wonder that so many people are poor
because they do the exact same thing as I do.
d.
Start telling yourself
on a daily basis that money is your friend and a positive force in your life,
and your mind will go to work to help you acquire more. Add this to my
declaration wall of quotes. I need to just get out there and make a
little bit of side money on my own to get me encouraged to continue doing so.
Waits for their ship to come in vs builds their
own ship
a.
The first line of this
chapter is….”The average person subconsciously believes he’s going to be
discovered, saved, or made rich by an outside force in the future.”, which
mirrors almost exactly my sentiment said on number 32, “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.”
Believes financial markets are driven by logic
and strategy vs financial markets are driven by emotion and greed
a.
Rich know there is a
difference between actual value vs perceived value and they take advantage of
this appropriately.
b.
If you are not as
wealthy as you like, there is something you don’t know.
Money is about status vs money is about freedom
a.
Instead of wasting your
mental energy getting mad, direct it toward getting rich.
b.
A list of freedoms I
will gain when I am rich:
i.
Great physical body
because I’ll be able to hire a trainer to work out with and buy the best foods
possible and classes to teach me how to cook better and tastier foods
ii.
Freedom of the stress of
meeting everyday bills like car repairs and clothes for the kids
iii.
Freedom to work on the
things I really want to work on
iv.
Freedom from having to
worry about the neighborhood and neighbors I live by
v.
Free from having to
worry about how to pay for marriages and college of kids
Lives beyond their means vs lives below their
means
a.
How much money would you
have to earn in a year to live the way you want to? I’d say net take home
of 50-60k would be pretty phenomenal.
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