A problem with school is that you often become what you study. So if you study cooking, you become a chef. If you study the law, you become an attorney, and a study of auto mechanics makes you a mechanic. The mistake in becoming what you study is that too many people forget to mind their own business. They spend their lives minding someone else’s business and making that person rich.
Confronting fear, weaknesses, and neediness by choosing our own thoughts is the way out.
Be careful what you learn, because your mind is so powerful that you become what you put in your head.
Soon there will be such a horrifying gap between the rich and the poor that chaos will break out and another great civilization will collapse.
Employees earn and get taxed, and they try to live on what is left. A corporation earns, spends everything it can, and is taxed on anything that is left. It’s one of the biggest legal tax loopholes that the rich use.
It was not until the Industrial Age, that a new demand began growing: the demand for employees. In response, the government took over the task of mass education, adopting the Prussian system, which is what most Western school systems in the world are still modeled after today.
The world is filled with talented poor people. All too often, they’re poor or struggle financially or earn less than they are capable of, not because of what they know, but because of what they do not know. They focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburger. Maybe McDonald’s does not make the best hamburger, but they are the best at selling and delivering a basic average burger.
People think that working hard for money and then buying things that make them look rich will make them rich. In most cases it doesn’t. It only makes them more tired. They call it ‘Keeping up with the Joneses.’ And if you notice, the Joneses are exhausted.
There are business and investment opportunities coming that will create bigger fortunes than the automobile did for Henry Ford, oil did for John D. Rockefeller, computers did for Bill Gates, and the Internet did for the young founders of Yahoo, Google, and Facebook.
A person can be highly educated, professionally successful, and financially illiterate.
In times of great economic change, there are always great transfer of wealth. Even if you do not have much money, it is important to incest in your education... for when the changes come, you will be better prepared for them. Don’t be caught unaware and afraid. As I said, no one can predict what will happen, yet it is best to be prepared for whatever happens. And that means getting educated now.
One of the reasons the rich get richer is that they buy more investments by taking advantage of the tax laws. In essence, the money that would have been paid in taxes is used to buy additional assets, which provide another deduction against income, which reduces the taxes due, legally.
In the early 1990s, Donald Trump was nearly $1 billion in debt personally and $9 billion in debt corporately. An interviewer asked him if he was worried. He replied, “Worrying is a waste of time. Worrying gets in my way of working to solve these problems.
If you find you have dug yourself into a hole... stop digging.
Taxes punish those who produce and reward those who don’t produce.
Today, I have expensive attorneys, accountants, real estate brokers, and stockbrokers. Why? Because if, and I do mean if, the people are professionals, their services should make you money. And the more money they make, the more money I make. We.
Often in the real world, it’s not the smart who get ahead, but the bold. Last night, I took a break from writing and watched a TV program on the history of a young man named Alexander Graham Bell.
So whenever I hear people focusing on their I-don’t-wants, rather than what they do want, I know the noise in their head must be loud. Chicken Little has taken over their brain and is yelling, “The sky is falling, and toilets are breaking!” So they avoid their don’t-wants, but they pay a huge price. They may never get what they want in life. Instead of analyzing, their inner Chicken Little closes their mind.
History proves that great civilizations collapse when the gap between the haves and have-nots is too great. Sadly, America is on that same course because we haven’t learned from history. We only memorize historical dates and names, not the lesson.” “Aren’t prices supposed to go up?
The most important specialized skills are sales and marketing. The ability to sell – to communicate to another human being, be it a customer, employee, boss, spouse, or child – is the base skill of personal success. Communication skills such as writing, speaking, and negotiating are crucial to a life of success. These are skills I work on constantly, attending courses or buying educational resources to expand my knowledge.