Investing 102

[sik68]

Greg!

I am now on my 4th audiobook on $Money$, and the Rich Dad/Poor Dad guy reminds me so much of you and this thread. It's like having GW in this thread and GW in my ear for an hour each day...is that a good thing? Haha

Here are the points from this thread and the book that I'm really eating up right now:

1) Learn to Make Decisions With Rationality As Well As Emotions - All of us make decisions emotionally, but the smartest people recognize and harness their emotions and learn to use rationality to make decisions. (I have started to do this and it changes your whole perspective on life, money, relationships, etc).

2) Don't Work For Money - Working for money keeps you desperate, and unable to think and be creative. Work for knowledge that experience brings.

3) Let Your Money Work For You - THINK and act on ways you can generate cash flow outside of the 'rat race'

4) Don't Play It Safe, Play It Smart - Most of us 'play it safe' and fear taking a loss. Making money requires not avoiding risk, but staying focused, and managing risk.

I KNOW that's not all, but my dimmer switch is sliding up.



GW I'm still doing more research on your post about housing prices vs. rates and I see what you're saying...in reality it's more complex than just an inverse relationship. I'll post about this soon too.


Thanks,
Steven