In reality, that is how simple the path to extraordinary wealth is. In other words, in this high-tech world, the principles of great wealth remain simple and low-tech. I would say that it’s merely common sense. But too often, when it comes to the subject of money, common sense is uncommon.
If we focus on what is a real asset of rich people then they think differently. If we keep on following the same path that all others are following then we end up with tax payments and debt.
First, we need to start thinking differently from what common thinking is. If we focus on who we are and what we want to do then we can achieve what we want.
We need not do something just shake of doing it. We have to put our best into it. If we do not put our full efforts with willingness then we cannot able to continue it for a long time.
People focus on what the rich have and tried to own the same. But not the way rich has own. Other people focus on looking rich, not being rich and that will blow them up. It is all about being, not doing. When we focus on doing a workout then it will not last long. But when we focus on being fit then it will longer till the end. Similarly, with rich, we can be rich, not we can do rich. Changing our thinking does not cost anything but in reality, changing our core beliefs are hard. If we focus on being fit then doing workouts and having a perfect body will come as a result. So that we have to focus on being rich.
The rich or middle class, we all are human beings and as human beings, we all have an emotion. When it is about money, our emotions get stronger. But how we manage our emotions, makes us different individuals.
When it comes to money, we all have a fear of losing it. This emotion will make us a prisoner and we keep on doing work for money. When we can control and focus on emotions, we can achieve what we want. It’s not only about the financial field but the same I have observed during my workout journey. When we control our emotions, we become mature.
Sometimes, we feel that we are making a rational decision, but those decisions are purely affected by our emotions.
When we make any decision, others’ opinions always come to stop us. They laughed at our decision; they quote that you can’t do it. But we should focus on our strength and control emotions by saying we can do it. Changing a quadrant is an internal journey, we have to learn the new mindset and new skillsets.
What’s the main difference between winners and losers? Losers keep giving more investment to their losing positions and winners cut the losing positions. Winners know that losing can come in the way of winning so they do not stay in ego that they cannot lose.
Above emotional biases stop us from taking wise, rational decisions. If a person’s emotions think for them, those emotional thoughts often blind them from seeing anything else. Emotions always need to control and that is a key to success in an “I” quadrant.
Knowledge is overrated. Temperament comes first then experience and then knowledge which was quoted by Mr. Durgesh Shah sir in one of its interview.
Read for more detail: Rich Dad’s Cashflow Quadrant: Guide to Financial Freedom