Author of the “Cash Flow Quadrant” book, Robert Kiyosaki, says his “Rich Dad” asserts that investing isn’t rocket science. Rich Dad suggested it was just a matter of using common sense. But we all know that wisdom isn’t, in fact, all that typical.
According to Kiyosaki, the lowest levels of investors are individuals who simply have not studied the process. They assume that investing is either too risky or a scam. Others skip their do-diligence and end up suffering a loss.
The smarted advice anyone can give you having to do with investing in real estate is just to educate oneself. If, in your rush to “get rich”, you jump in without that education, you’ll be doing yourself a tragic disservice. Time is your most important resource and if you waste that, you’ll usually find that your money will be lost as well - money you have that you end up squandering, equity you could have earned if you’d just taken the time to master the process.
“That is just fine and dandy,” you may say. You presumably will accede that education is typically a helpful thing. Knowledge is power, after all…. But “what instruction should I get?” might be your 1st question. Your second question is probably going to be, “How do I go about getting it?”
The 1st skill you may want to study is some fundamental accounting, which isn’t as ambiguous as it appears to be. Accounting is the language of finance. If you are going to invest in a business or an investment property (or whatever), you’ll need to be willing to check up on it and see if it will be an asset (earn you money) or a burden (lose your money). It seems like logic when you ponder it, doesn't it? But in order to be able to ascertain these things, you’ll want to be able to read accounting-statements.
According to Kiyosaki, the lowest levels of investors are individuals who simply have not studied the process. They assume that investing is either too risky or a scam. Others skip their do-diligence and end up suffering a loss.
The smarted advice anyone can give you having to do with investing in real estate is just to educate oneself. If, in your rush to “get rich”, you jump in without that education, you’ll be doing yourself a tragic disservice. Time is your most important resource and if you waste that, you’ll usually find that your money will be lost as well - money you have that you end up squandering, equity you could have earned if you’d just taken the time to master the process.
“That is just fine and dandy,” you may say. You presumably will accede that education is typically a helpful thing. Knowledge is power, after all…. But “what instruction should I get?” might be your 1st question. Your second question is probably going to be, “How do I go about getting it?”
The 1st skill you may want to study is some fundamental accounting, which isn’t as ambiguous as it appears to be. Accounting is the language of finance. If you are going to invest in a business or an investment property (or whatever), you’ll need to be willing to check up on it and see if it will be an asset (earn you money) or a burden (lose your money). It seems like logic when you ponder it, doesn't it? But in order to be able to ascertain these things, you’ll want to be able to read accounting-statements.
No comments:
Post a Comment