"These blogposts are a reflection of my personal journey to understanding how developing this financial education can improve the lives of my family and those whom I work with".
Raymond E. Lee
Raymond E. Lee
16 Lessons Rich Parents Teach Their Children that the Poor Don’t and 1# That Some 14 year olds Know That They Don´t!!
There is an interesting lesson at the end of all of this, it is something that rich parents forgot to teach their children, or rather it is something that the majority of them DON´T KNOW! And this is why the 14 year old kids are running away from them.
This is why even though the parents are rich, they will never be wealthy... read to the end to find out what they are missing. These are the great secrets that the rich teach their children that the poor do not.
1. Understanding how money works while the poor remain finically illiterate.
2. The difference between an asset and a liability.
3. They’re not entitled to anything.
4. How to be sociable and connect with other people.
5. Stop expecting immediate results and avoid magical results.
6. How to create daily habits that in the long run gives them incredible advantages.
7. Money is a tool and it’s a good thing.
8. Increase income instead of lowering expenses.
9. Knowledge is more valuable than money in the long run.
10. Don’t work for money, have money work for you.
11. Solving problems is the quickest way to get rich.
12. Not to waste time on things that do not correlate to the real world.
13. How to use good debt instead of bad debt.
14. 80% of the results come from 20% of the effort.
15. Having money doesn’t make you a better person, it just solves some of the problems.
16. To raise their expectations.
So what is that one thing that some 14 year old know that the rich don´t? Dale Canegie mentions it in his book ´How to win friends and influence pèople´, he was a college dropout but knew the value of outsourcing things that needed to be done that he wasn´t skilled for.
People go to college to learn to be skilled so they can trade that skill to someone (usually a bussiness owner), in exchange for money. This linear thinking is what powered the industrial age but it is no longer useful and doesn´t support our population which BOOMED as a result. The 14 year olds know that they need to have at least TWO forms of residual income to survive in todays world and instinctively know (and are willing to act on these instincts), that you cannot outrun inflation on a linear income.
Are you ready to lean how to build your first residual income stream?
We call them streams because there are many and some as you know turn into rivers, which feed into the generational pool for years into the future after you´ve moved on.
One of my first great mentors is still providing a weekly income for his wife and children years later after he passed, you can be as smart as a 14 year old kid and do this too, it´s not easy but it is simple.
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