Motivation logo


Make daily choices: the power of choice Chapter Eight Part 2

By safrasPublished 4 months ago 5 min read
Photo by Karsten Würth on Unsplash

Choice is the main reason people want to live in a free country.

We want the power to choose.

Financially, with every dollar we get in our hands, we hold the

power to choose our future: to be rich, poor, or middle class. Our

spending habits reflect who we are. Poor people simply have poor

spending habits. The benefit I had as a boy was that I loved playing

Monopoly constantly. Nobody told me Monopoly was only for kids,

so I just kept playing the game as an adult. I also had a rich dad who

pointed out to me the difference between an asset and a liability. So

a long time ago, as a little boy, I chose to be rich, and I knew that

all I had to do was learn to acquire assets, real assets. My best friend,

Mike, had an asset column handed to him, but he still had to chooseto learn to keep it. Many rich families lose their assets in the next

generation simply because there was no one trained to be a good

steward over their assets.

Most people choose not to be rich. For 90 percent of the population,

being rich is too much of a hassle. So they invent sayings that go: “I’m

not interested in money.” “I’ll never be rich.” “I don’t have to worry.

I’m still young.” “When I make some money, then I’ll think about my

future.” “My husband/wife handles the finances.” The problem with

those statements is that they rob the person who chooses to think such

thoughts of two things: One is time, which is your most precious asset.

The second is learning. Having no money should not be an excuse to

not learn. But that is a choice we all make daily: the choice of what we

do with our time, our money, and what we put in our heads. That is

the power of choice. All of us have choice. I just choose to be rich, and

I make that choice every day.

Invest first in education. In reality, the only real asset you have is your

mind, the most powerful tool we have dominion over. Each of us has the

choice of what we put in our brain once we’re old enough. You can watch

TV, read golf magazines, or go to ceramics class or a class on financial

planning. You choose. Most people simply buy investments rather than

first investing in learning about investing.

A friend of mine recently had her apartment burglarized. The

thieves took her electronics and left all the books. And we all have that

same choice. 90 percent of the population buys TV sets, and only about

10 percent buy business books.

So what do I do? I go to seminars. I like it when they are at least two

days long because I like to immerse myself in a subject. In 1973, I was

watching this guy on TV who was advertising a three-day seminar on

how to buy real estate for nothing down. I spent $385 and that course

has made me at least $2 million, if not more. But more importantly, it

bought me life. I don’t have to work for the rest of my life because of

that one course. I go to at least two such courses every year.

I love CDs and audio books. The reason: I can easily review what

I just heard. I was listening to an investor say something I completely

disagreed with. Instead of becoming arrogant and critical, I simply listened to that five-minute stretch at least 20 times, maybe more. But

suddenly, by keeping my mind open, I understood why he said what he

said. It was like magic. I felt like I had a window into the mind of one of

the greatest investors of our time. I gained tremendous insight into the

vast resources of his education and experience.

The net result: I still have the old way I used to think, and I now

have a new way of looking at the same problem or situation. I have two

ways to analyze a problem or trend, and that is priceless. Today, I often

say, “How would Donald Trump do this, or Warren Buffett or George

Soros?” The only way I can access their vast mental power is to be humble

enough to read or listen to what they have to say. Arrogant or critical

people are often people with low self-esteem who are afraid of taking

risks. That’s because, if you learn something new, you are then required

to make mistakes in order to fully understand what you have learned.

If you have read this far, arrogance is not one of your problems.

Arrogant people rarely read or listen to experts. Why should they?

They are the center of the universe.

There are so many “intelligent” people who argue or defend when

a new idea clashes with the way they think. In this case, their so-called

intelligence combined with arrogance equals ignorance. Each of us

knows people who are highly educated, or believe they are smart, but

their balance sheet paints a different picture. A truly intelligent person

welcomes new ideas, for new ideas can add to the synergy of other

accumulated ideas. Listening is more important than talking. If that

were not true, God would not have given us two ears and only one

mouth. Too many people think with their mouth instead of listening

in order to absorb new ideas and possibilities. They argue instead of

asking questions.

I take a long view on my wealth. I do not subscribe to the

get-rich-quick mentality most lottery players or casino gamblers have.

I may go in and out of stocks, but I am long on education. If you

want to fly an airplane, I advise taking lessons first. I am always

shocked at people who buy stocks or real estate, but never invest in

their greatest asset, their mind. Just because you bought a house or

two does not make you an expert at real estate.


About the Creator

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights


There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2023 Creatd, Inc. All Rights Reserved.