BY: Paul “The Pig” Willingham paul.Willingham@sunbeltnetwork.com
The reason that most people never see opportunity is because they are looking for Cinderella. Opportunity wears work clothes.
The average person truly believes that the only way they could be wealthy is by chance. A lottery, an inheritance or a law suit. Really people? Of course, that’s the average person. The question is do you want to be average?
Robert Kiyosaki said that there are elements required to become wealthy.
Before we look at those we should understand that Kiyosaki was talking about monetary wealth, but the same principles apply to spiritual, physical, family and emotional wealth.
Kiyosaki says that we need to have a long term, powerful vision. Tiny dreams have no pull they can’t keep you afloat when you are faced with an ocean of obstacles. Make your dream big. Be ridiculous. Also, your dream needs to be about more than just you. It needs to be global. No one cares that you want Jay Leno’s garage full of cars. But we do care that you want to turn that garage into a Make A Wish for old farts.
Kiyosaki says that we must be willing to endure delayed gratification. We must do things others won’t. Do without the things others don’t. That does not mean the life of Scrooge. Stale bread and cheese every night. It means recognizing wasteful and hypocritical habits and changing them.
The third element in Kiyosaki ‘ s Wealth Trilogy is using the power of compounding. Most of us think that this like interest in the bank. That is one, very simplistic view. But truly compounding comes inside our hearts and minds. Daily habits of adding to our store of personal knowledge and experience compounds. I admonish everyone to read daily. Choose your books wisely with your vision in mind and feed your dreams. Other forms of compounding can be relationships. Zig Ziglar said the way to get what want is to help enough other people get what they want. Build your store of friends. And like your books, do so with your vision in mind. The wrong friend will likely take you off course.
That is Kiyosaki ‘s Trilogy Wealth Trilogy. But I would add one more element. Control.
I have seen people who had a long term vision, let’s say retirement. They endured delayed gratification. They did without somethings so that they could invest their money in a 401k or IRA etc… And they used the power of compounding. But what they lacked was, control. Market fluctuations, industry bubbles or economic events, things outside our control, can and do wipe out a lifetime of savings. So we must control the engine of our dreams. That means being aware of risks, and having the ability to minimize or eliminate them.
One of the best ways is to build multiple streams of passive cash flow. I am happy to discuss how this can be done and can be done without spending a lot of money. In fact it can be done while making money as part of the plan.
I will finish with a little poem written big me the Pig about opportunity.
For most people opportunity does not knock. Not even once anymore.
For a few, she may whisper your name as she tiptoes past your door.
She is always running late and if you hesitate she is gone.
A wise one waits and anticipates
With their work clothes on.
Paul “The Pig” Willingham
Source: Robert Kiyosaki “Cash Flow 101”