some things I learn from the book..

1.) Never work for money, Let the money work for you.
2.) Being broke is temporary, being poor is forever.
3.) Buy things that will put money in your pocket, not the other way around.
4.) investing is a risky business, same with driving, but you wont drive like a mad man would you? risk is always there, but at least make it a controlled risk
5.) Knowledge, attend seminar, and broaden your knowledge on something you would invest in, so you are sure you know what you are doing and the risk involves..

many more in the book "Rich Dad Poor Dad" I recommend everyone reading it who aims to be financially independent...

I myself don't want to work forever :D

 

No I spent more in a shorter time.

Greetings J.Diver

 

Im my country (Holland) they say

When your parents are poor , it is not your fault.
But when your parents in law are poor that is stupid.


Greetings J.Diver

 

The question was asked in June this year
Just hope he didn't invest in the Bradford and Bingley !

 

Yeah, but that's the cool part. We get the benefit of hindsight.
:D
Also, N73 has made two posts. The first one had two words in it, the second was a solicitation.

 

I agree completely. The ideal investment is one that will sustain your capital and provide cash to live on. Most investments do require work or at least lots of planning, patience and fortitude. And most of all you do not want to rely on one source of income so you will have to diversify and create multiple streams of income. Robert Kiyosaki has some great experiences and advice which is why his Rich Dad Poor Dad books are such a hit. The insight from him I really like is "don't work for money, let money work for you," so fundamental but so elusive.

 

Some of my foreighner friends who have businesses there, mostly the result just “catasthrophe”. As I saw it what happened to their money , I can conclude .. when I have enough savings plus a pension, I will not make a business there.Maybe I have to recall my hobbies to keep me busy, and enjoy the life there. Im working so many years and when I retire why should I have to start again working and get many head aches…

 

Quote: "Most investments do require work or at least lots of planning, patience and fortitude".
This is so very true, Pedro.
The most important is indeed planning/preparation.
I have seen a guy wanting to start a business with nearly no money (so:....borrowing !) and having no clue at all of the market situation here.
He did not know how to make a business plan and even did not know what such a plan contains.
All he thought to know was his good ability for smelling opportunities.
I had to agree that his idea was not bad at all in my amateur opinion, but even I could tell him that he had first to investigate a lot of things before starting.
It never came to something.
If you don't have enough money to survive a good plan (your patience, Pedro !) then it's asking for problems as soo many have faced before.
Foreigners think too easy that they are much cleverer than Filipinos, so wy should they not be able to make a good earning here :( ??????
Get to know the market here and see the differences with your western society (i.c. free spending budget, preferences, behaviour, etc....)
I also wondered why so many did fail.
I think I know the reasons (at least some of them) meanwhile.

 

Great observations Jellyfish. That is a very big question to consider, how do you earn a living from a population whose average income is way below what your expectations are. That is why most of the Expat and even native businesses cater to Expats or foriegn tourist. If you are not providing what the population needs or at least wants, good luck!