why financially literate people may still not develop abundant asset columns

There are five main reasons why financially literate people may still not develop abundant asset columns. Asset columns that could produce large sums of cash flow. Asset columns that could free them to live the life they dream of, instead of working full time just to pay bills.


Reason No. 1. FEAR OF LOSING MONEY

I have never met anyone who really likes losing money. And in all my years, I have never met a rich person who has never lost money. But I have met a lot of poor people who have never lost a dime. . .investing, that is.
The fear of losing money is real. Everyone has it. Even the rich. But it's not fear that is the problem. It's how you handle fear. It's how you handle losing. It's how you handle failure that makes the difference in one's life.
That goes for anything in life, not just money. The primary difference between a rich person and a poor person is how they handle that fear.
It's OK to be fearful. It's OK to be a coward when it comes to money. You can still be rich. We're all heroes at something and cowards at something else.

That's why banks recommend savings as a habit when you're young.
If you start young, it's easy to be rich.
I won't go into it here, but there is a large difference between a person who starts saving at age 20 versus age 30. A staggering difference.
 It is said that one of the wonders of the world is the power of compound interest.  So it can be done, even if you hate losing or hate risk. But you must start early and definitely set up a retirement plan, and you should hire a financial planner you trust to guide you before investing in anything.
But what if you don't have much time left or would like to retire early? How do you handle the fear of losing money?
 Nobody likes losing. Show me a happy loser, and I'll show you a loser," said rich dad. Not like most of the people around here, living like roaches when it
comes to money.
Roaches terrified that someone will shine a light on them. Whimpering when the grocery clerk short changes them a quarter."


Rich dad went on to explain.
"What I like best is the Texas attitude. They're proud when they win, and they brag when they lose. Texans have a saying, "If you're going to go broke, go big. You don't want to admit you went broke over a duplex. Most people around here are so afraid of losing, they don't have a duplex to go broke with."
Haha....this made me think of our "luos"..-hehe


So for most people, the reason they don't win financially is because the pain of losing money is far greater than the joy of being rich. Another saying in Texas is, "Everyone wants to go to Heaven, but no one wants to die."
Most people dream of being rich, but are terrified of losing money. So they never get to Heaven.

Failure inspires winners. And failure defeats losers.
It is the biggest secret of winners. It's the secret that losers do not know. The greatest secret of winners is that failure inspires winning; thus, they're not afraid of losing.

There is a big difference between hating losing and being afraid to lose. Most people are so afraid of losing money that they lose. They go broke over a duplex. Financially they play life too safe and too small. They buy big houses and big cars, but not big investments.