Sunday, June 10, 2012

Wealth Magic



An Aussie version of Rich Dad, as you can see many examples of OPM ( Other People’s Money), using Equities from a revaluated Home mortgage to buy properties in perpetuity with little or no money down. Leverage if used wisely can do magic. But faced with subprime like property meltdown, you have better be prepared.

Some very interesting concepts like :

(1)   The Key to Wealth : knowledge ( applied ) and skill
(2)   The Key to Success : you reap what you sow
(3)   The First Secret of Money Magnetism : Uniqueness ( 1 demand 2 willingness to pay 3 only you can provide supply )
(4)   The Second Secret of Money : add Value
(5)    The Third Secret of Money : Leverage


He also touched on :
(1)   When we struggle , it is probably because (1) off-course (2) the winds have changed direction
(2)   Law of Universal Convergence : nature  will fill the “vacuum” created by an well constructed idea and the before the formation of form. Nature will provide all the resources, people, energy needed to create the form because it is the law of nature to fill hte void. Let go of the idea and nature has no more vacuum to fill. The idea just fizzles out. Stick to the idea till it take form.
(3)   The 3 elements of investment : Growth, Income, Low Risk. Choose either 2.

Being rich is a skill worth learning for. Because even if you lose your wealth, you still have the skill to make back the money. Maybe even faster than the 1st time you made it.

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