Tag Archives: richness

The 21 Success Secrets of Self-Made Millionaires – Brian Tracy

 

imageIn this book I found some things that I liked and some other ones that I did not like at all.

I liked that many suggestions do not refer to money alone.

Tracy tells you to find a job that you love, so that you do not need to work (actually, this was a Confucio’s suggestion), to write down your goals, to make big dreams that nobody is more intelligent than you, that it is not necessary to be rich to be happy, to read a lot, to stay with positive people, to avoid plaintive friends, to take care of own health

On the other hand, when he explains what to do to become richer, I am in dismay.
What? Shall I save 10% of my wage each month? Why does he need to tell you this? Does it mean that in the USA it is normal to live without saving anything, through debits and credit card and overdrawn accounts?
Frugality is the keyword for Tracy. Spare and invest, spare and invest.
OK, but why should I live sparing and investing? The goal is to become rich in the mature years, it seems. To enjoy the life when you are old and retired.

Above all I did not like the chapter about the maximum commitment. I mean: I commit to my job, I like to go home after having done what I had to, but Tracy is going much further. He tells you to work harder and harder, much more than the 40 hours each week: self-made millionaires work around 59 hours each week, you should do the same!!!

And then: do not waste time. Do not chat with your colleagues and tell them that you cannot talk, if they try to involve you in some kind of time wasting. Work all the time, do not lift your head, stay on the paper and you will drawn attention on you… go to work one hour earlier, work during the break, stay on the workplace one hour later…

what??

Yes, says Tracy, this is how you can build your best reputation on work.
Well, best reputation with the boss, maybe, but what about relationship with colleagues? This guy is worse than me.

I still have the bad sensation that, when he says that you must take care of other people, he always says this because you myst then get something back.

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Rich Dad, Poor Dad – Robert T. Kiyosaki

imageIncrease your assets, not your liabilities.

House is a liability.

Work on your financial intelligence.

These are just three of the many points repeated in this book (although you won’t find any true practical point). Kiyosaki suggests us to make your money work for you, not the contrary, and this is theoretically true, but the few examples he makes do not go deep in the matter. True is that, if you want to make money without dying for too much work, you have to study hard the following 4 subjects:

  • accountancy
  • Investments
  • marketing
  • laws

This is not for me. Yes, I have taken the highest mark at the accountancy secondary school, but I hate that subject! Moreover, I would not be able to stand for the high financial pressure, the need to check markets and shares; I fear loosing money and, last but not least, I have zero intuition for real estates up and downs.

In one word: no. This is not my way to become rich.

But I agree with some Kiyosaki’s assumpions. First of all: employee working won’t make you rich. Well, Kiyosaki says that hard working is old fashioned (and said by a person who retired at 47 and lives without working, it sounds interesting). Exactly the opposite stated by Henry Ford in his “My Life and my work”, where work is considered as natural as human being exhistence. Two completely different points of views, in two different historical times, but with a point in common: they are stated by rich people. Another proof that paper lets her be written and that you have to find your own way to live.

Kiyosaki criticises employees attitude: their acceptance of things as they are, the gift of own energy and time to someone who will become rich. He says: do not work in a company, but create a company.

The mouse race is the one of the middle classe person. You work harder because you want to get more money, but the more you work, the more you have to pay for taxes. And then, the more you grew rich, the more you buy, without asking yourself if a Porsche or a bigger house are liabilities or if they create cashflows…

Kiyosaki is a great fan of elusion’s techniques. And it is also true that schools do not teach you how to become rich. They (should) teach you how become an employee. Your true richness is your mind, but you must study all your life long, and you must work also on your communications skills: learning how to sell is often more important than what you sell.

I was particularly  impresed by one of his statements: he claimed to be a best seller author, not a great writer.

Last comment: Kiyosaki and other people like him become richer and richer without producing anything material. We come back to my old assumption that the future is made by services to people, not things production. But what strikes me is that such people are rich despite the so called worl crisis. I mean: the money in circulation on the earth is not less than the period when the crisis was far away. Therefore… if the total volume of money is stil the same, and it is just distributed in a different way, the crisis is subjective. Maybe this is an old truth for you. For me it is a total enlightenment.

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