Making money 101 to 905

[Dien Rice]

Originally Posted by GordonJ

From: You don't get paid for doing nothing to totally passive income in huge chunks.

Sure, money isn't EVERYTHING. It doesn't beat faith, family, friends or health.

But it pretty much nails everything else, and certainly can enhance those really important things too.

It is a much more friendly world out there to people who have less concern about money, and it is a constant sorrow, headache and heartache for those
who don't have enough.

And my opinion as to why so many struggle is: the IMPORTANCE of knowing how to make money, isn't taught in our school systems. It never was, probably never will be. It doesn't serve Big Education's agenda.

Well, I'm not going down that rabbit hole today, although I could, and maybe when I have my own daily radio program, I will...

but, even the very basics of handling money are deemed less important in most school systems.

And as a result, so many people fall into patterns of what they see, what they are exposed to, and it is hard to overcome some of those habits. It is the reason why Rich Dad, Poor Dad strikes a nerve...and why so many families of wealth, remain that way for generations whereas families of lack and even poverty keep recreating themselves.

So, you don't get paid for doing nothing, right? And there are those making massive amounts of money from passive ways, like oil leases, or even dividends or interest on assets they have.

And one thing I know for certain is, it is pert near impossible to go from the A (nothing) to Z (massive passive income) in a single leap or bound, barring luck, like lottery winnings or such.

But there is stairway, steps taken, routinely, daily and consistently which lead from the lower levels to the upper ones. And there are escalators, even speed elevators which makes ascension happen faster.

So, I have a question for you all, for anyone really...what, in your opinion is the best book, course or information on gaining an understanding of how money works, how to get it, keep it and make it work for you.

I have my own "ideas" of what this would be, but I want yours too.

Hi Gordon,

This may be a "controversial" answer to some, but...

The original Rich Dad Poor Dad was pretty good at one thing...

He said buy ASSETS, not LIABILITIES...

He said an Asset is something that puts money in your pocket. While a Liability is something that takes money out of your pocket...

Simple. But many people don't understand it...

They might put their money into a brand new car... Which (in most cases) will lose half its value in the first couple of years or so!

(In most cases, a new car is a liability... The exceptions might be some rare or collectible cars, which could increase in value...)

Better to put your money in something that is more likely to go up in value... If you don't know anything about funds, you can put it into an index fund. If you study and know what you're doing, you can put it into real estate property... (Not all property will go up. But you can figure out which property is more likely to go up than others...)

Of course, you can put it into business (someone else's, or your own)... This is probably riskier than index funds or real estate property, but with more potential upside as well...

Then there are other alternative investments... like gold and silver, trading cards, and even cryptocurrencies (that's high risk in my opinion)... You can invest in music rights (see https://www.royaltyexchange.com )...

But, what if you're starting from zero?

I've gradually built up my skills over the years... But I agree with some advice you gave me many years ago, which is that you have to learn how to sell. If you can sell, you can always make money...

I can go into more advanced stuff... like business strategy... but you have to be able to crawl before you can walk... So that's what I'd say to a "beginner" in the area...

And keep learning and improving...!

If you do it well, it can lead to a lifetime of security... and also adventure...

Best wishes,

Dien