富爸爸,穷爸爸(英文版)-第15章

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A　problem　with　school　is　that　you　often　bee　what　you　study。　　So　if　you　study；　say；　cooking；　you　bee　a　chef。　　If　you　study　the　law；　you　bee　an　attorney；　and　a　study　of　auto　mechanics　makes　you　a　mechanic。　The　mistake　in　being　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。
To　bee　financially　secure；　a　person　needs　to　mind　their　own　business。　　Your　business　revolves　around　your　asset　column；　as　opposed　to　your　ine　column。　As　stated　earlier；　the　No。　1　rule　is　to　know　the　difference　between　an　asset　and　a　liability；　and　to　buy　assets。　The　rich　focus　on　their　asset　columns　while　everyone　else　focuses　on　their　ine　statements。
That　is　why　we　hear　so　often：　〃I　need　a　raise。〃　　〃If　only　I　had　a　promotion。〃　　〃I　am　going　to　go　back　to　school　to　get　more　training　so　I　can　get　a　better　job。〃　　　〃I　am　going　to　work　overtime。〃　　〃Maybe　I　can　get　a　second　job。〃　　〃I'm　quitting　in　two　weeks。　　　I　found　a　job　that　pays　more。〃
In　some　circles；　these　are　sensible　ideas。　　Yet；　if　you　listen　to　Ray　Kroc；　you　are　still　not　minding　your　own　business。　　These　ideas　all　still　focus　on　the　ine　column　and　will　only　help　a　person　bee　more　financially　secure　if　the　additional　money　is　used　to　purchase　ine…generating　assets。
The　primary　reason　the　majority　of　the　poor　and　middle　class　are　fiscally　conservative…which　means。　〃I　can't　afford　to　take　risks〃…is　that　they　have　no　financial　foundation。　　They　have　to　cling　to　their　jobs。　They　have　to　play　it　safe。　
When　downsizing　became　the　〃in〃　thing　lo　do；　millions　of　workers　　　　｜　found　out　their　largest　so…called　asset；　their　home；　was　eating　them　alive；　j　Their　asset；　called　a　house；　still　cost　them　money　every　month。　Their　car；　another　〃asset；〃　was　eating　them　alive。　The　golf　clubs　in　the　garage　that　cost　1；000　were　not　worth　51；000　anymore。　　Without　job　security；　they　had　nothing　to　fall　back　on。　　What　they　thought　were　assets　could　not　help　them　survive　in　a　time　of　financial　crisis。
1　assume　most　of　us　have　filled　out　a　credit　application　for　a　banker　to　buy　a　house　or　to　buy　a　car。　　It　is　always　interesting　to　look　at　the　〃　worth'1　section。　　It　is　interesting　because　of　what　accepted　banking　and　accounting　practices　allow　a　person　to　count　as　assets。
One　day；　to　get　a　loan；　my　financial　position　did　not　look　too　good。　So　I　added　my　new　golf　clubs；　my　art　collection；　books；　stereo；　television；　Armani　suits；　wristwatches；　shoes　and　other　personal　effects　to　boost　the　number　in　the　asset　column。
But　I　was　turned　down　for　the　loan　because　I　had　too　much　investment　real　estate。　The　loan　mittee　did　not　like　that　1　made　so　much　money　off　of　apartment　houses。　They　wanted　to　know　why　I　did　not　have　a　normal　job；　with　a　salary。　They　did　not　question　the　Armani　suits；　golf　clubs　or　art　collection。　　Life　is　sometimes　tough　when　you　do　not　fit　the　〃standard〃　profile。
I　cringe　every　time　I　hear　someone　say　to　me　that　their　　worth　is　a　million　dollars　or　100；000　dollars　or　whatever。　　One　of　the　main　reasons　　worth　is　not　accurate　is　simply　because　the　moment　you　begin　selling　your　assets；　you　are　taxed　for　any　gains。
So　many　people　have　put　themselves　in　deep　financial　trouble　when　they　run　short　of　ine。　To　raise　cash；　they　sell　their　assets。　First；　their　personal　assets　can　generally　be　sold　for　only　a　fraction　of　the　value　that　is　listed　in　their　personal　balance　sheet。　Or　if　there　is　a　gain　on　the　sale　of　the　assets；　they　are　taxed　on　the　gain。　So　again；　the　government　takes　its　share　of　the　gain；　thus　reducing　the　amount　available　to　help　them　out
Of　debt。　That　is　why　I　say　someone's　　worth　is　often　〃worth　less〃　than　they　think。
Start　minding　your　own　business。　Keep　your　daytime　job；　but　start　buying　real　assets；　not　liabilities　or　personal　effects　that　have　no　real　value　once　you　get　them　home。　A　new　car　loses　nearly　25　percent　of　the　price　you　pay　for　it　the　moment　you　drive　it　off　the　lot。　It　is　not　a　true　asset　even　if　your　banker　lets　you　list　it　as　one。　　My　400　new　titanium　driver　was　worth　S150　the　moment　I　teed　off。
For　adults；　keep　your　expenses　low；　reduce　your　liabilities　and　diligently　build　a　base　of　solid　assets。　For　young　people　who　have　not　yet　left　home；　it　is　important　for　parents　to　teach　them　the　difference　between　an　asset　and　a　liability。　　Get　them　to　start　building　a　solid　asset　column　before　they　leave　home；　get　married；　buy　a　house；　have　kids　and　get　stuck　in　a　risky　financial　position；　clinging　to　a　job　and　buying　everything　on　credit。　　I　see　so　many　young　couples　who　get　married　and　trap　themselves　into　a　lifestyle　that　will　not　let　them　get　out　of　debt　for　most　of　their　working　years。
For　most　people；　just　as　the　last　child　leaves　home；　the　parents　realize　they　have　not　adequately　prepared　for　retirement　and　they　begin　to　scramble　to　put　some　money　away。　Then；　their　own　parents　bee　ill　and　they　find　themselves　with　new　responsibilities。
So　what　kind　of　assets　am　I　suggesting　that　you　or　your　children　acquire？　In　my　world；　real　assets　fall　into　several　different　categories：
1。　Businesses　that　do　not　require　my　presence。　I　own　them；　but　they　are　managed　or　run　by　other　people。　　If　I　have　to　work　there；　it's　not　a　business。　　It　bees　my　job。
2。　Stocks。
3。　Bonds。
4。　Mutual　funds。
5。　Ine…generating　real　estate。
6。　Notes　（lOUs）。
7。　Royalties　from　intellectual　property　such　as　music；　scripts；　patents。
8。　And　anything　else　that　has　value；　produces　ine　or　appreciates　and　has　a　ready　market。
As　a　young　boy；　my　educated　dad　encouraged　me　to　find　a　safe　job。　My　rich　dad；　on　the　other　hand；　encouraged　me　to　begin　acquiring　assets　that　I　loved。　　〃If　you　don't　love　it；　you　won't　take　care　of　it。〃　I　collect　real　estate　simply　because　I　love　buildings　and　land。　　I　love　shopping　for　them。　　1　could　look　at　them　all　day　long。　When　problems　arise；　the　problems　are　not　so　bad　that　it　changes　my　love　for　real　estate。　　For　people　who　hate　real　estate；　they　shouldn't　buy　it。
I　love　stocks　of　small　panies；　especially　startups。　The　reason　is　that　I　am　an　entrepreneur；　not　a　corporate　person。　　　In　my　early　years。　I　worked　in　large　organizations；　such　as　Standard　Oil　of　California；　the　U。S。　Marine　Corps；　and　Xerox　Corp。　　I　enjoyed　my　time　with　those　organizations　and　have　fond　memories；　but　I　know　deep　down　I　am　not　a　pany　man。　I　like　starting　panies；　not　running　them。　　So　my　slock　buys　are　usually　of　small　panies；　and　sometimes　I　even　start　the　pany　and　take　it　public。　　Fortunes　are　made　in　new…stock　issues；　and　I　love　the　game。　Many　people　are　afraid　of　small…cap　panies　and　call　them　risky；　and　they　are。　But　risk　is　always　diminished　if　you　love　what　the　investment　is；　understand　it　and　know　the　game。　With　small　panies；　my　investment　strategy　is　to　be　out　of　the　stock　in　a　year。　　My　real　estate　strategy；　on　the　other　hand；　is　to　start　small　and　keep　trading　the　properties　up　for　bigger　properties　and；　therefore；　delaying　paying　taxes　on　the　gain。　This　allows　the　value　to　increase　dramatically。　I　generally　hold　real　estate　less　than　seven　years。
For　years；　even　while　I　was　with　the　Marine　Corps　and　Xerox；　I　did　what　my　rich　dad　remended。　　I　kept　my　daytime　job；　but　I　still　minded　my　own　business。　I　was　active　in　my　asset　column。　　I　traded　real　estate　and　small　stocks。　　Rich　dad　always　stressed　the　importance　of　financial　literacy。　The　better　I　was　at　understanding　the　accounting　and　cash　management；　the　better　I　would　be　at　analyzing　investments　and　eventually　starting　and　building　my　own　pany。
I　would　not　encourage　anyone　to　start　a　pany　unless　they　really　want　to。　Knowing　what　I　know　about　running　a　pany；　I　would　not　wish　that　task　on　anyone。　There　are　times　when　people　cannot　find　employment；　where　starting　a　pany　is　a　solution　for　them。　　The　odds　are　against　success：　Nine　out　of　10　panies　fail　in　five　years。　　Of　those　that　survive　the　first　five　years；　nine　out　of　every　10　of　those　eventually　fail；　as　well。　　　So　only　if　you　really　have　the　desire　to　own　your　own　pany　do　I　remend　it。　Otherwise；　keep　your　daytime　job　and　mind　your　own　business。　When　I　say　mind　your　own　business；　1　mean　to　build　and　keep　your　asset　column　strong。　Once　a　dollar　goes　into　it；　never　let　it　e　out。　Think　of　it　this　way；　once　a　dollar　goes　into　your　asset　column；　it　bees　your　employee。　The　best　thing　about　money　is　that　it　works　24　hours　a　day　and　can　work　for　generations。　　Keep　your　daytime　job；　be　a　great　hard…working　employee；　but　keep　building　that　asset　column。
As　your　cash　flow　grows；　you　can　buy　some　luxuries。　An　important　distinction　is　that　rich　people　buy　luxuries　last；　while　the　poor　and　middle　class　tend　to　buy　luxuries　first。　The　poor　and　the　middle　class　often　buy　luxury　items　such　as　big　houses；　diamonds；　furs；　jewelry　or　boats　because　they　want　to　look　rich。　They　look　rich；　but　in　reality　they　just　get　deeper　in　debt　on　credit。　The　old…money　people；　the　long…term　rich；　built　their　asset　column　first。　　Then；　the　ine　generated　from　the　asset　column　bought　their　luxuries。　The　poor　and　middle　class　buy　luxuries　with　their　own　sweat；　blood　and　children's　inheritance。
A　true　luxury　is　a　reward　for　investing　in　and　developing　a　real　asset。　For　example；　when　my　wife　and　I　had　extra　money　ing　from　our　apartment　houses；　she　went　out　and　bought　her　Mercedes。　It　did　not　take　any　extra　work　or　risk　on　her　part　because　the　apartment　house　bought　the　car。　　She　did；　however；　have　to　wait　for　it　for　four　years　while　the　real　estate　investment　portfolio　grew　and　finally　began　throwing　off　enough　extra　cash　flow　to　pay　for　the　car。　　But　the　luxury；　the　Mercedes；　was　a　true　reward　because　she　had　proved　she　knew　how　to　grow　her　asset　column。　That　car　now　means　a　lot　more　to　her　than　simply　another　pretty　car。　　It　means　she　used　her　financial　intelligence　to　afford　it。
What　most　people　do　is　they　impulsively　go　out　and　buy　a　new　car；　or　some　other　luxury；　on　credit。　They　may　feel　bored　and　just　want　a　new　toy。　　Buying　a　luxury　on　credit　often　causes　a　person　to　sooner　or　later　actually　resent　that　luxury　because　the　debt　on　the　luxury　bees　a　financial　burden。
After　you've　taken　the　time　and　invested　in　and　built　your　own　business；　you　are　now　ready　to　add　the　magic　touch…the　biggest　secret　of　the　rich。　The　secret　that　pu