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HOW TO BECOME RICH

perapera · 64 · 13388

perapera

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on: May 26, 2011, 06:45 PM
HOW TO BECOME RICH

1.   LOTTO – if tingin mo magaling ka manghula, why not! Kaso pag inasa mo sa lotto ang kapalaran mo, lolo ka na eh hindi ka pa nananalo.

2.   MARRY A MILLIONAIRE – if tingin mo maaakit sayo ang isang matandang mayaman, why not! Kaso kaya mo bang masikmura na pakisamahan ang isang taong hindi mo naman talaga mahal?

3.   GUMAWA NG ILLEGAL – if malakas loob mo at kaya ng sikmura mo na manlamang ng kapwa mo, why not! Kaso kaya ba ng konsensya mo? At pag nahuli ka, tiyak sa kulungan bagsak mo.

4.   BECOME A CELEBRITY – if tingin mo artistahin ka, why not!

5.   BECOME A SPORTS STAR – if talentado ka talaga like Pacquiao, Lebron, Tiger woods, etc., why not! Of course, hard work din yan kahit gano ka ka-talentado.

6.   EMPLOYEE – if masunurin ka sa boss mo at like mo ang corporate world, why not! Kaso baka 60 years old ka na, hindi ka pa President ng company.

7.   BECOME A SPECIALIST – like doctor, lawyer, pilot, etc.. these are the high-paying jobs. If kaya ng family mo na pag aralin ka ng mga ganyang courses, why not! Kaso, these are for smart people only. Di ka yayaman if hindi ka magaling.

Unfortunately sa lahat ng nabanggit ko, madami ang hindi qualified. Kaya pala konti lang ang mayaman. Hindi din ako qualified. Buti na lang may last option. Dito yumaman ang madaming mayayaman. At eto din ang napili kong paraan.

LAST OPTION:

BE GENEROUS AND FINANCIALLY SMART – so simple di ba! Dyan po yumaman lahat ng businessmen gaya ni Henry Ford ng Ford Motors, Ray Kroc ng McDonalds, and many more. By being generous and serving more and more people.

So with right mind-set and Financial Education, kaya natin to!


allanmm13

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Reply #1 on: May 26, 2011, 07:35 PM
From 10 Road to Riches by Ken Fisher

1) Founding and leading your own visionary company.
2) Becoming a top CEO at someone else's successful company.
3) Investing in a successful company.
4) Becoming a highly paid celebrity, athlete, artist, or other famous person.
5) Marrying a very rich person.
6) Learn to prey on other's vulnerability by looking for steals.
7) Use your ideas (or marry other's ideas) and OPM (other people's money).
8 ) Create multiple incomes and maybe pensions.
9) Real Estate (of course, now the bubble has popped)
10) Saving and investing prudently while living modestly.
« Last Edit: May 26, 2011, 07:40 PM by allanmm13 »


CondoInvestor

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Reply #2 on: May 26, 2011, 08:45 PM
I like this!  pag-uwi ko check ko yung 1 book sa library ko about this 1.  :D


GoodSteward

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Reply #3 on: May 26, 2011, 09:50 PM
3) Investing in a successful company.

Can we qualify stock investing as number 3?


perapera

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Reply #4 on: May 28, 2011, 08:27 AM
There is a very BIG possibility that you CAN'T be rich by investing in just one or two successful companies in stock market.

You need to have STREAMS of passive income. Not just one or two.


pulubing_palaboy

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Reply #5 on: May 28, 2011, 09:10 AM
one NEEDS streams of passive income to become rich?
are you out of your mind?

even in the US, households with income over $200K per year are considered rich
meron mang passive income o wala  :watchuthink:


magtibaygom

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Reply #6 on: May 28, 2011, 09:41 AM
Read the books of Robert Kiyosaki. You will learn how to become rich.


singkit_1588

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Reply #7 on: May 28, 2011, 10:10 AM
Read the books of Robert Kiyosaki. You will learn how to become rich.

nice advise..
magnada sin po ang book ni bo sanchez..
 :D


perapera

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Reply #8 on: May 28, 2011, 11:22 AM
yup read the books of Robert Kiyosaki and you'll learn a lot.

Do not work hard for the money. Let the money work hard for you.


allanmm13

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Reply #9 on: May 28, 2011, 11:56 AM
yup read the books of Robert Kiyosaki and you'll learn a lot.
Read the books of Robert Kiyosaki. You will learn how to become rich.

Disclaimer about RDPD books - it may have made Kiyosaki rich but his strategies may not work with you. He admitted that in his latest book. He simple tells us to "discover" your own path to success by financial education + your personal real world experience.

Though, the general principles of tax, accounting, leverage, assets and liabilities are universal. This may or may not be applicable in our setting. What's the solution... Adopt strategies that will work on our situation as Pinoy.

Learning without Action is futile.
Action without the Right Education is suicidal.
« Last Edit: May 28, 2011, 12:07 PM by allanmm13 »


perapera

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Reply #10 on: May 28, 2011, 01:18 PM
Disclaimer about RDPD books - it may have made Kiyosaki rich but his strategies may not work with you. He admitted that in his latest book. He simple tells us to "discover" your own path to success by financial education + your personal real world experience.

Though, the general principles of tax, accounting, leverage, assets and liabilities are universal. This may or may not be applicable in our setting. What's the solution... Adopt strategies that will work on our situation as Pinoy.

Learning without Action is futile.
Action without the Right Education is suicidal.


What is the title sir of this latest book?


pulubing_palaboy

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Reply #11 on: May 29, 2011, 01:13 AM
i want to introduce you to john reed. search the internet regarding what he says about robert kiyosaki. it might open your eyes.

********************
John T. Reed is the author of 20 real estate investment books and is the sole writer and publisher of John T. Reed's Real Estate Investor's Monthly newsletter. He has appeared on numerous TV and radio shows, including 60 Minutes and Larry King Live. Reed was a real estate investor for 23 years. He worked as a real estate agent and as a property manager managing office, industrial, farm, and residential properties. Reed holds a bachelors degree from the United States Military Academy at West Point and a master of business administration degree from Harvard Business School.
Real estate owned:

    * 1969-1974: 16 Harvard Avenue, Collingswood, NJ (duplex)
    * 1972-1978: 426 Euclid Avenue, Haddonfield, NJ (duplex)
    * 1974-1978: 340 Avondale Avenue, Haddonfield, NJ (house)
    * 1975-1978 10 Tenth Avenue, Haddon Heights, NJ (duplex)
    * 1975-1978: Holly Apartments, 137-139 High Street, Mount Holly, NJ (12-unit apartment building)
    * 1978-1983: Greenbriar Apartments, 1500 Beverly Circle, Corsicana, TX (37-unit apartment building)
    * 1980-1983: 45 LaSalle Drive, Moraga, CA (house)
    * 1983-1988: Las Brisas Apartments, 6414 Brentwood Stair Road, Fort Worth, TX (33-unit apartment complex)
    * 1983-1992: Cottonwood Apartments, 510 East Beltline Road, DeSoto, TX (25-unit apartment building)
    * 1983-date: 342 Bryan Drive, Alamo, CA (house)

Total rental units owned: 117
Total houses owned: 3
Online articles about John T. Reed

    * MSN Money - Nothing quick about getting rich with real estate
    * CNN Money.com - Get Real
    * New York Times - Tips on Becoming a Successful Investor
    * East Bay Express - Don't Tread on Me
    * See my wikipedia entry for other links

A number of people—possibly gurus (using fake names) that Reed has criticized—have posted false statements about John T. Reed on the Internet, including that he lost money on every property he ever bought. That is not true. He made money on ten of the twelve. He lost money on the two Texas apartment complexes. Virtually every other owner of such properties in Texas at that time also lost money similarly. The causes were:

    * the Tax Reform Act of 1986, which cut the value of income properties 25% overnight by drastically reducing deduction of their tax losses
    * the oil glut that reduced employment in Texas
    * the savings and loan crisis that caused extreme overbuilding of apartments in Texas

It should be noted that as far as Reed knows, he is the only real estate investment guru who currently provides the addresses of all the properties he owned. The other gurus refuse to provide addresses, most likely because the number of deals they did is small or zero, or the deals were unprofitable or less profitable than they would have you believe, or the deals were crooked, or all of the above.

Reed suggests that anyone citing Reed’s properties-owned list in a derogatory manner be asked for his list of properties owned. Don’t hold your breath waiting for it.

Nowadays, some gurus claim they do not release such information because they own the properties secretly to avoid losing them to frivolous lawsuits. That makes sense for a wealthy, private person, but it makes no sense for some guy who spends every day telling the world how rich he is. Creditors who win judgments in court can put the defendant under oath and ask where his assets are. Lying about them is a felony. The trick of putting properties in ownership that hides the name of the true owner only works for those who also keep secret the fact that they are wealthy.

For example, Donald Trump claims he has owned many properties. His Web site, www.trump.com, lists them. And he has far more to fear from frivolous lawsuits than any real estate infomercial guru.


rds

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Reply #12 on: May 29, 2011, 12:05 PM
^your point regarding Robert Kiyosaki, sir?

can you post the link please...

Post Merge: May 29, 2011, 12:12 PM
one NEEDS streams of passive income to become rich?
are you out of your mind?

even in the US, households with income over $200K per year are considered rich
meron mang passive income o wala  :watchuthink:

a mere "income over $200K per year" is rich...how about if your income is $250K per year while your expenses is $300K per year, are you still rich?!?
« Last Edit: May 29, 2011, 12:12 PM by rds »


allanmm13

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Reply #13 on: May 29, 2011, 01:22 PM
i want to introduce you to john reed. search the internet regarding what he says about robert kiyosaki. it might open your eyes.

Yes i read this rebuke of John Reed to RK for more than 2 years ago.  The main motive of Reed is to promote his own stuff by backlashing all 100+ RE gurus.

Besides, i dont see a point that for one book of RPDP, Reed ONLY highlights ALL negatives but never emphasis the positive message of the book. As if he's looking a glass half empty instead of half full.

When i read Kiyosaki's and other gurus books, i always see three important things (That is, looking a glass half full instead of half empty):

(1) what can i get from their writings
(2) ignore those message that i assess not sensible.
(3) how can i apply them on my personal finances.

Note: We are readers of these many gurus book should exercise Discretion and common sense.

Nowadays, some gurus claim they do not release such information because they own the properties secretly to avoid losing them to frivolous lawsuits. That makes sense for a wealthy, private person, but it makes no sense for some guy who spends every day telling the world how rich he is. Creditors who win judgments in court can put the defendant under oath and ask where his assets are. Lying about them is a felony. The trick of putting properties in ownership that hides the name of the true owner only works for those who also keep secret the fact that they are wealthy.
Base on Kiyosaki's latest book, he mentioned that he didnt contruct some of his RE deals. He and his wife,Kim, are Equity/Investor partner only. There is another guy who actually handle the project thus the ownership is with the other guy not with Kiyosaki. Of course, since he put in some Investment, he is entitle to cashflow of the properties.

Im not defending RK, because personally i think many of his books are recycle of RDPD 1 and RDPD 2 (Cashflow Quadrant). I personally recommend,though, his latest book, Unfair Advantage of Financial Education.

For example, Donald Trump claims he has owned many properties. His Web site, www.trump.com, lists them. And he has far more to fear from frivolous lawsuits than any real estate infomercial guru.
Again, search back in internet and you see Reed also rebuke Donald.
« Last Edit: May 29, 2011, 01:43 PM by allanmm13 »


rds

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Reply #14 on: May 29, 2011, 02:08 PM
^may tama ka jan sir.

i've been reading and keep on reading Kiyosaki's book. may mga bagay na di rin ako sang-ayon, but there's no other book regarding investing and financial literacy that is very easy to understand than RDPD.

although some points - like "house is a liability" ay di ako sang-ayon dun. house (shelter) is a basic need just like food, so if you say house is liability is like saying buying food (and eating), dress, etc. are liabilities.

but i do believe that if your house is your ONLY asset, you really are in trouble!

why don't Reed write also a book about financial literacy that can benefit ordinary citizen rather than criticizing Kiyosaki, Trump or other similar writers? He can be help more by doing the former than the latter.


 


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