2. CHOOSE DAILY

2. I CHOOSE DAILY:

The power of choice.
That 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.

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." Or "I'll never be rich." Or "I don't have to worry, I'm still young." Or "When I make some money, then I'll think about my future." Or "My husband/wife handles the finances."
The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning.

 Just because you have 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 MTV all day, or read golf magazines, or go to ceramics class or a class on financial planning. You choose. Most people simply buy investments rather than first invest in learning about investing.


Quoted
I love audio tapes. The reason: I can rewind quickly. I was listening to a tape by Peter Lynch, and he said something I completely disagreed with. Instead of becoming arrogant and critical, I simply pushed "rewind" and I listened to that five-minute stretch of tape at least twenty times. Possibly 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 depth and 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 have Peter's way of looking at the same problem or situation. I have two thoughts instead of one. One more way to analyze a problem or trend, and that is priceless. Today, I often say, "How would Peter Lynch do this, or Donald Trump 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. You see, 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 buy tapes. 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 was not true, God would not have given us two ears and only one mouth.
Too many people think with their mouth instead of listening to absorb new ideas and possibilities. They argue instead of asking questions.

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.