Tuesday, June 1, 2010

Little Step #2 Is Education

Are you living by the clock? Someone else's clock? Or your own?

As I told you in a previous post, I am working on my goals. My main goal is to have enough money to have FREEDOM to do whatever I want to do whenever I want to do it. Words like Freedom, Wisdom, Knowledge, Education all come to mind. They are all words that mean you know enough to have it all. When I speak of education I am not necessarily telling you to go back to school. Not at all. I am telling you to read books. Take classes or seminars that teach you what you need to know. How many people who are self taught become very wealthy? More than you know.

So my "little steps" will be to read books for education. Presently, I am reading aloud the Rich Dad Poor Dad Cashflow Quadrant - Rich Dad's Guide To Financial Freedom. I am getting a lot of information out of this book. I have read the first book, Rich Dad Poor Dad - What The Rich Teaches Their Kids About Money That The Poor Don't. I am learning the fact that having a job or being self-employed will not put me in the rich status I want. It will only help me if I educate myself to get out of this side of the quadrant (you have to read the book to understand the quadrant)  while I work that job or run my small business. I am self-employed running a small home based business.

What I am learning is that I need to make extra money somehow and put a percentage of that money on my debts and another percentage of that money in an account for investments. Then when I have enough money saved I can use that toward my first investment. Because of my age, 57, I need to do this as quickly as possible. I feel that time is not on my side in this. If you are younger you can take more time than I am, but it is best to do it as quickly as you can. Why waste time no matter what your age is?

So many people will say that they don't care about money. Money is not everything. Money is not important. Or how about this one "the root of all evil is money." Maybe so. But money is what we all need to live in this world  today. Money is what pays our bills. Money is what buys our food, pays for our medicine, pays for our dentist or vet bills. Money is what pays for our children's education or pays for the house we raise them in. We NEED it no matter what you or anyone else says about it. You can put money down all you want but you still need it. If not, then why do you give so many hours up of your life to do what someone else tells you to do for it? Be honest with yourself about it.

My list today is like this:

Goal #1 - Freedom to do what I want when and how I want.
                Little Step #1 - Read Cashflow Quadrant.
                Little Step #2 - Study the 2 real estate forums (for investors) that I belong to.

You can do that for today too. Then follow your little steps. I will elaborate more on those in my next post.

Copyright © 2010 Kathleen G. Lupole