Creating Wealth : Chapter 1

Chapter 1 finished today :p

Chapter 1
We Were Programmed to Fail from the Moment
We Were Born

Each person taught me something.
I began to notice common threads....patterns.

Josh Billings :
"The trouble with people is not that they don't know,
but that they know so much that just ain't so"
wakaru? pikir, pikir!

We are programmed.
As a consequence, only a small percentage of the millions who try ever
join the ranks of wealthy. How can they?
They are building on a shaky foundation.
/lol

Too often, we hold tightly to our own peanut ideas
for fear that we may lose them...when all the while,
it is this very idea that hold us captive and prevent the freedom we long for.

NINE FALSE ASSUMPTION about WEALTH

[SEMBILAN ORANG SILAP tentang KAYA]

False Assumption #1 :
Having A Job Is Good and Leads Ultimately to Wealth.
A job merely supports the habits we have (like eating)...but it rarely leads to wealth.
"Wealth is when small efforts produce large results.
Poverty is when large efforts produce small results"

The answer is not to work harder, but to work smarter.
A job should be look upon as a temporary inconvenience,
a method of generating cash flow for living expenses

False Assumption #2 :
Saving Your Money Is A Good Investment.
Berapa ramai orang menjadi kaya dengan menyimpan? I rest my case.

It's not the money saved that is important.
It is the discipline required to save it.

False Assumption #3 :
Debt Is Bad - Avoid It Like Plague.
Yes. Avoid borrowing money to buy the "appearance of wealth"[which lose value etc]
You can never become wealthy without going into some form of investment debt.
And probably a lot of it.
You can actually borrow your way to wealth.

False Assumption #4 :
Security Is Good.
Our entire society is obsessed with security.
[social security, job security, seniority bla bla bla..]
But security is only an illusion.

The more you love security the more likely you will avoid risk.
And if you avoid risk, you also avoid opportunity, because
RISK IS THE PRICE YOU PAY FOR OPPORTUNITY.
You can't hate risk and hope for freedom.

There is no such thing as security.
There are only a varying degrees of risk.

False Assumption #5 :
Failure Is Bad.
Failure is part of success. A VERY IMPORTANT PART.
"What people don't realize is that successful people often have more failures than failures do.
But they keep going."

You don't drown by falling in water. You drown by staying there.

Failure can be the best thing that ever happened to you.

False Assumption #6 :
Wealth Is Measured In Material Possessions.
Wealth is not money,
Wealth is thoughts, not things.
Wealth is a state of mind - an attitude.

"Broke is a temporary condition. Poor is a state of mind"

Wealthy mindset makes all possible.

False Assumption #7 :
The Government, My Employer, or Someone Else Is Responsible
for My Financial Well-Being.
Government is not the answer. The answer lies in us.
We alone are responsible for our ultimate financial welfare.

False Assumption #8 :
The Acquiring of Wealth Is a Win/Lose Game.
You don't have to be filthy to be filthy rich.
There is such a thing as creating win/win wealth.

In reality, there is an infinite source of wealth.

False Assumption #9 :
It Takes Money to Make Money.
At least, it doesn't have to be your own money.

*leverage, man. leverage!

next chapter : Developing a Wealthy Mindset