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Saturday, October 16, 2010

Recent Webinar

Sorry it has been so long since I have posted. I have been extremely busy with working twelve hour shifts going to school and also a quick trip back home. I would first like to talk about the Rich Dad Poor Dad webinar that I have recently watched. It had a lot of good points and I will share a few of them now and also possibly more in later posts. He started out by telling you why employees and small business owners are destined to fail and big business owners and investors win. The biggest reason is because of debt and taxes. I am going to call employees and small business owners from here on out E's and S's and big business and investors B's and I's. E's and S's get screwed by taxes from the government because the government want to reward those who create jobs and provide houses because the government knows that it can not do it well enough. So since E's and S's are not doing what the government wants them to do they get taxed. B's and I's get taxed also but very small percentage points and they get the most tax right offs and incentives to reduce their taxes to the most minimal amount. E's and S's also lose in the category of debt. E's and S's lose on debt because they use bad debt B's and I's win because they use good debt. The difference between good debt and bad debt is that good debt makes you money and bad takes money out of your pocket. Good debt would be a mortgage on a income property meaning a rental or commercial property or buying a stock on margin that give you quarterly dividends. Bad debt is the debt that we all own meaning credit cards, mortgages on our own home, school loans, car loans, and whatever other doodad we buy on bad credit. I really hope you find something useful out of this post and apply it to your lives. If you apply some of these thoughts you can learn to begin to think like the rich and hopefully one day become wealthy yourself. And wealthy is a very generic term not only meaning money but also wealthy in happiness and relationships with your friends and family. Please let me know what you think of this and if there are any specific topics you would like me to hit on. Thanks for reading