Arathi Baniya’s Reviews > Rich Dad Poor Dad > Status Update
Arathi Baniya
is 79% done
2. Make daily choices: the power of choice
Invest 1st in education. In reality, only real asset u have is your mind, most powerful tool we‘ve dominion over. Each of us has choice of what we put in our brain once we’re old enough. U can watch TV, read golf magazines, or go to ceramics class or class on financial planning. U choose.Most ppl simply buy investments rather than 1st investing in learning abt investing
— Apr 10, 2020 06:59AM
Invest 1st in education. In reality, only real asset u have is your mind, most powerful tool we‘ve dominion over. Each of us has choice of what we put in our brain once we’re old enough. U can watch TV, read golf magazines, or go to ceramics class or class on financial planning. U choose.Most ppl simply buy investments rather than 1st investing in learning abt investing
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Arathi Baniya
is 90% done
FINAL THOUGHTS
3 Incomes In the world of accounting, there are three different types of income:
1. Ordinary earned
2. Portfolio
3. Passive
The key to financial freedom & great wealth is a person’s ability to convert earned income into passive/portfolio income.
“Ordinary earned income is money you work for, and passive and portfolio income is money working for you.”
— Apr 10, 2020 04:11PM
3 Incomes In the world of accounting, there are three different types of income:
1. Ordinary earned
2. Portfolio
3. Passive
The key to financial freedom & great wealth is a person’s ability to convert earned income into passive/portfolio income.
“Ordinary earned income is money you work for, and passive and portfolio income is money working for you.”
Arathi Baniya
is 81% done
5)Finding good deal,right business,right ppl,right investor,or whatever is just like dating.U must go to market & talk to lot of ppl,make lot of offer,counteroffer,negotiate,reject,accept
6)Walk/drive certain area once a month for 10 min
7)Shop 4 bargain in all market
8)Look in right places
9)Look for ppl who want to buy 1st.Then look for ppl who wanna sell
10)Think big
11)Learn from history
12)Action beat inaction
— Apr 10, 2020 03:10PM
6)Walk/drive certain area once a month for 10 min
7)Shop 4 bargain in all market
8)Look in right places
9)Look for ppl who want to buy 1st.Then look for ppl who wanna sell
10)Think big
11)Learn from history
12)Action beat inaction
Arathi Baniya
is 81% done
STILL WANT MORE? HERE R SOME TO DO'S
1)Stop doing wt u r doing
Definition of insanity is doing same thing over & over & expecting different result.Stop doing wt isn’t working & look for smth new.Look for new ideas.
For new investing ideas,I go to bookstores & search for books on different & unique subjects
2)Find someone who has done wt u want to do
3)Take classes,read, & attend seminars
4)Make lots of offers
— Apr 10, 2020 03:02PM
1)Stop doing wt u r doing
Definition of insanity is doing same thing over & over & expecting different result.Stop doing wt isn’t working & look for smth new.Look for new ideas.
For new investing ideas,I go to bookstores & search for books on different & unique subjects
2)Find someone who has done wt u want to do
3)Take classes,read, & attend seminars
4)Make lots of offers
Arathi Baniya
is 79% done
7.Be Indian giver:power of getting smth for nth
8.Use assets to buy luxuries:power of focus
9.Choose heroes:power of myth
10.Teach & u shall receive:power of giving
Process of thinking of wt I want & how I could giv that to someone else,breaks free torrent of bounty.Whenever I feel ppl aren’t smiling,I begin smiling & saying hello.Like magic, I’m surrounded by smiling ppl.It‘s true ur world is only mirror of u
— Apr 10, 2020 02:34PM
8.Use assets to buy luxuries:power of focus
9.Choose heroes:power of myth
10.Teach & u shall receive:power of giving
Process of thinking of wt I want & how I could giv that to someone else,breaks free torrent of bounty.Whenever I feel ppl aren’t smiling,I begin smiling & saying hello.Like magic, I’m surrounded by smiling ppl.It‘s true ur world is only mirror of u
Arathi Baniya
is 79% done
We live in Information Age.Inform is priceless.Good broker should provide u é information & take time to educate u.I‘ve several brokers who do it 4 me.Some taught me when I‘d little or no money,& I‘m till é them today.Wt I pay them is tiny in compariso é what kind of money I can make coz of infor they provide.I love it when my real estate broker/stockbroker make lot money coz it usually means I made lot mone
— Apr 10, 2020 07:29AM
Arathi Baniya
is 79% done
6.Pay ur brokers well:power of good advice
My rich dad believed in paying professionals well, & I‘ve adopted that policy also.Today, I‘ve expensive attorneys,accountants,real estate brokers, & stockbrokers.Y? Coz if, & I do mean if,ppl r professionals, their services should make u money. & the more money they make, the more money I make.
— Apr 10, 2020 07:22AM
My rich dad believed in paying professionals well, & I‘ve adopted that policy also.Today, I‘ve expensive attorneys,accountants,real estate brokers, & stockbrokers.Y? Coz if, & I do mean if,ppl r professionals, their services should make u money. & the more money they make, the more money I make.
Arathi Baniya
is 79% done
5. Pay yourself first: the power of self-discipline
If you cannot get control of yourself, do not try to get rich.
The three most important management skills necessary to start your own business are management of:
1. Cash flow
2. People
3. Personal time
— Apr 10, 2020 07:07AM
If you cannot get control of yourself, do not try to get rich.
The three most important management skills necessary to start your own business are management of:
1. Cash flow
2. People
3. Personal time
Arathi Baniya
is 79% done
4. Master a formula and then learn a new one: the power of learning quickly
Most of us have heard the saying, “U are what u eat.” I have a different slant. I say, “U become what U study.” In other words, be careful what u learn, because ur mind is so powerful that u become what u put in your head. For eg, if u study cooking, u then tend to cook. If u don’t wanna be a cook anymore, u need to study smth else
— Apr 10, 2020 07:07AM
Most of us have heard the saying, “U are what u eat.” I have a different slant. I say, “U become what U study.” In other words, be careful what u learn, because ur mind is so powerful that u become what u put in your head. For eg, if u study cooking, u then tend to cook. If u don’t wanna be a cook anymore, u need to study smth else
Arathi Baniya
is 79% done
3.Choose friends carefully:power of association
Dun listen to poor/frightened ppl.I‘ve such friends & while I love them dearly,they r Chicken Littles of life.To them,when it comes to money,esp investments,it’s always”The sky is falling!”They can always tell u y smth won’t work.But ppl who blindly accept doom-and-gloom information r also Chicken Littles.As old saying goes,Birds of a feather flock together
— Apr 10, 2020 07:05AM
Dun listen to poor/frightened ppl.I‘ve such friends & while I love them dearly,they r Chicken Littles of life.To them,when it comes to money,esp investments,it’s always”The sky is falling!”They can always tell u y smth won’t work.But ppl who blindly accept doom-and-gloom information r also Chicken Littles.As old saying goes,Birds of a feather flock together
Arathi Baniya
is 79% done
A reason or purpose is combination of “wants” & “don’t wants.”
If they’re not strong enough,then reality of road ahead may be greater than ur reasons.I‘ve lost money & been set back many times,but it’s deep emotional reasons that kept me standing up & going forward.I wanted to be free by age 40,but it took me until I was 47
I’ve learned that,without strong reason or purpose,anything in life is hard.
— Apr 10, 2020 06:38AM
If they’re not strong enough,then reality of road ahead may be greater than ur reasons.I‘ve lost money & been set back many times,but it’s deep emotional reasons that kept me standing up & going forward.I wanted to be free by age 40,but it took me until I was 47
I’ve learned that,without strong reason or purpose,anything in life is hard.