Business School for People Who Like Helping People - Value 7

One thing I'm still waiting for in this book, maybe I lack imagination, maybe I expect to be spoon-fed, but I have yet to read how to actually go about choosing the right MLM company, what to look for,

what to avoid, and how to transition from full time employment

into being an MLM business owner.

Let's keep reading, maybe the answers are coming.

In this chapter, Kiyosaki deals with the three

feelings associated with money:

1. The feeling of fear.

2. The feeling of anger and frustration.

3. The feeling of joy, peace and contentment.

Number 3 is where you want to be because here you've arranged

your affairs so that money keeps coming in whether you choose

to work or not. You have no fear of being broke, homeless or jobless.

You work because you want to, not because you have to.

You can give generously and help your friends/family in any way

you choose. Life is good because you live on your own terms.

Robert defines wealth as, "The ability to survive so many days forward." For example, if you have R1,000 in savings and your living expenses are R100 a day, then your wealth is 10 days.

If your living expenses are R50, then your wealth is 20 days."

A simple measure of your wealth is to ask yourself the following question: "If you stop working today, how long could you survive financially?"

He further explains that there are two kinds of money.

One is money that comes from labor. And the other is money

that comes from assets. If you want to be wealthy, you need money that comes from assets. If you want to work for the rest of your life, then just work for money - for immediate gratification.

The difference between the quadrants of income is that people

in the E and S quadrants focus on working for an income,

while B and I quadrants focus on building or acquiring assets.

Assets continue to pay you, even after you stop working.

In this chapter, Kiyosaki also shares why smart people fail to become rich and why emotional intelligence is essential to financial freedom, plus a list of emotions that kill your financial intelligence.

The more you work on improving your EQ, the more your financial IQ will increase, and the richer you will be. Also, you will have a better marriage and better family life, at least that's how it worked out for Robert and Kim Kiyosaki.

Kiyosaki talks about how he went from flat broke in 1985 to financially free and retired in 1994. I was kinda hoping he would reveal how he did it, but apparently that's documented in one of his other books,

How to Retire Young and Retire Rich. So if you want to learn how

to regain control of your finances in less than a decade,

get yourself a copy of that book: How to Retire Young and Retire Rich.

One final lesson in this chapter is that control leads to happiness. People who feel in control of their lives and their destinies are happier, whereas people who feel like they're victims of circumstance are very unhappy, much like the provisional existence Viktor Frankl

wrote about in Man's Search for Meaning.

• Have your money working for you, not the other way around.

• Buy assets so you can transition from being an employee to being a business owner and investor.

• Build a business so you can enjoy the same tax benefits used by the super rich.