Interesting Articles (31 Oct 2006)
My rich dad often reminded me that money doesn’t make a person who he or she is (or isn’t). Applying this logic, money also doesn’t make a person greedy. Rich dad’s point was that money has the power only to reveal a person’s true nature. [emphasis mine-ed.]
For example, if a person is a fool with money, more money may turn the fool into a financial idiot. We’ve all heard stories of lottery winners, rock stars, heirs and heiresses, and professional athletes becoming millionaire morons who wake up rich but are broke by nightfall.
Generous people can become more generous as they become richer, giving away vast fortunes to worthwhile causes as Bill Gates and Warren Buffett are doing. And many people, upon achieving financial freedom, use their freedom to dedicate their lives to what they believe to be their spiritual calling. That freedom is why I teach and encourage people to acquire wealth.
From A Taste for Debt, where Robert Kiyosaki’s cogent writing reminds me again why he’s one of my favorite columnists. We come from vastly different backgrounds (wealthy/urban vs. poor/rural/drove a tractor), but seem to share extremely similar financial values.
And in TRADING FLOOR SECRETS: Common Mistakes Traders Make, Scott Kramer of Optionetics.com reveals his solutions to 1) Taking a Profit Too Early, 2) Staying in a Loss Too Long and 3) Not Enough Education. It’s well worth a read.