In “Rich Dad’s Guide to Investing,” the author talks about taking risks. As an example, “Rich Dad” says, “There is risk driving a car. But driving the car with your hands off the steering wheel is really risky.” With regard to driving a car, his point is easily understood.
His real message, however, goes a little deeper. He’s really speaking of the risks people associate with investing. While there are inherent risks in any investment (just as there are in driving to the grocery store), if you don’t take control of the risks (as in keeping your hands on the wheel), the risks can quickly overwhelm you. Rich Dad goes on to say that, “It is not necessarily investing that is risky, it is the investor who is risky.”
Whether you are investing in yourself, your business, real estate, or a stock portfolio, Rich Dad advises that you first gain control over yourself. This is accomplished in two steps: first by creating a written financial plan, and second through intensive study. Both make it possible to get a firm grip on your investment wheel. The written plan is your road map to successful investing, while study provides the knowledge level needed to invest wisely. Collectively, they put you in the driver’s seat, giving you control over your investing direction.
If the idea of investing your way to wealth appeals to you, you must first commit to pay the price in time. You do not necessarily have to “have money to make money.” Like any successful endeavor, however, you must be willing to invest your time, and we all realize just how valuable that can be!
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