Financial Literacy

DrJekyll:

"Make contacts. Make the people you speak to every day like you. Befriend everybody fromt the receptionist to the CEO. Make friendship a habit. Introduce yourself to people and make sure you remember their motherfucking names. Buy a black book if you have to, and write a brief description of them so you can look at it later if you need a refresher."

Ranko splitting with Robert:"I want to believe that a man is better than he is, and then I get screwed..."

Rich Dad, Poor Dad:

"If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability."Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets" "If you want to be rich, you've got to read and understand numbers."

An asset is something you can turn into cash.

"An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket."

"Job (provides income)-> Expenses(Taxes Food Mortgage Clothes Fun Transportation)
Asset (none) Liability (Mortgage Consumer loans Credit Cards)

This is the cash flow pattern of a wealthy person:

Assets(stocks bonds notes real estate intellectual property)->income (dividends interest rental income)'

Fear... of course:

"That is why my educated dad said the Japanese valued the power of the mirror the most, for it is only when we as humans look into the mirror do we find truth. And the main reason that most people say "

Play it safe1' is out of fear. That goes for anything, be it sports, relationships, career, money."

Mike's dad:
"Here was a man who had not gone along with the crowd. He was a man who did his own thinking and detested the words, "We have to do it this way because that's the way everyone else does it." He also hated the word "can't." If you wanted him to do something, just say, "I don't think you can do it.""

"An intelligent person hires people who are more intelligent than they are."

"Income > Expense
Asset > Liability"

"Wealth is a person's ability to survive so many number of days forward... or if I stopped working today, how long could I survive?"

"The rich buy assets. The poor only have expenses."

----

"Often in the real world, it's not the smart that get ahead but the bold." "Work to Learn - Don't Work for Money" I need to take a job that will learn me marketing skills. "If you're not a good leader, you'l get shot in the back, just like they do in business." "But for those of you who might be on the fence when it comes to the idea of working to learn something new, I offer this word of encouragement: Life is much like going to the gym. The most painful part is deciding to go. Once you get past that, it's easy. There have been many days I have dreaded going to the gym, but once I am there and in motion, it is a pleasure. After the workout is over, I am always glad I talked myself into going."