How to Make $ Money | Rich Dad Poor Dad 1B | EE Book Club

welcome to the effortless English show with the world's number one English teacher AJ Hoge where AJ's more than 40 million students worldwide finally learn English once and for all without the boring textbooks classrooms and grammar drills here's AJ with a quick piece to help you learn to speak fluent English effortlessly hi I'm AJ Hoge the author of effortless English learned to speak English like a native go to effortless English club comm join my VIP program at effortless English club dot-com book club today effortless English book club AE book club hashtag EE book club continuing with Robert Kiyosaki's book Rich Dad Poor Dad Rich Dad Poor Dad today we finished chapter one we do the second part the second half of chapter one let's learn how to be rich continuing let's just start here we go starting where we stopped so again in the middle here the middle of the chapter he gives us the big lesson the rich don't work for money lesson number one I'll show my screen here for those of you who are watching lesson number one the rich don't work for money I think he wants us to realize this he's repeating it a lot petition is the mother of skill repetition helps us to remember that's why he's repeating it because he's saying look this is very very important the rich don't work for money this is one of the key wrong ideas that most people have about getting rich they think they need to work work more get a better job but that's how you get rich that's how you have financial freedom and he's saying no it's wrong the rich don't work for money now at the end of our last book club little Robert who was I think about nine years old remember he went and he went to rich dad rich dad is his friend's dad his friend his name is Mike and Mike's dad as a businessman he has he owns a lot of different businesses and so Robert wants to be rich he says he asked his own dad that's the poor dad in this story he asked his own dad dad how do I be rich and his dad said I don't know I'm a school teacher I don't know how to be rich he said you should ask Mike's dad he has a lot of businesses he's going to be very rich so he went to Mike's dad Mike's dad said okay I will teach you to be rich but you have to work for me on the weekend he's just nine years old but he says you have to work in one of my businesses doing work Robert did that for a while then he got really upset he was sick of working he didn't like the job he was getting paid very little money so he went back to rich dad and he said upset he says I'm quitting and this is terrible and the rich dad explained to him you know some lessons about money the main one being that look you're learning that working for money is no fun I'm teaching you I'm not teaching you like school I'm teaching you with experience and you're learning in through experience that working for money number one you're not going to get rich this way and number two it's not very fun so finally you know a little Robert calms down and Rich Dad said okay do you want me to continue to teach you and Robert you know he's a kid he's not happy about the situation but he says okay and then Rich Dad says okay I will continue to teach you but now you must work for free for free you must do the job the same job for free I'm not going to pay you anything nothing at all no pay you're working just to learn only Robert Kiyosaki calls this you know earn to learn or work to learn so that's the beginning of where we start today so robbers oh oh man huh he's not so excited about this obviously but but he wants to be rich he realizes that rich dad Mike's dad is a smart guy that that he's a good businessman that he knows about money and he realizes that no one else can teach him so he agrees so he works a few more weeks I think he works about three more weeks and he's he's not getting paid anything nothing he doesn't tell his dad the Poor Dad his real debt he does not tell his dad oh that now I'm getting nothing he's afraid his dad might be upset so he just works for free huh you know it's no fun it's no fun and now he's getting no pay finally the rich dad comes back one day and said okay boys because it's his own son Mike also so the both boys Robert and Mike he says come walk with me and they go for a walk and he says did you learn anything yet Rich Dad says have you learned anything yet three more weeks working for no money what have you learned and the boys just kind of huh they shrug their shoulders maybe they put their shoulders up like I don't know I don't know all right there kids so you know they don't know what do they learn so then the richness is look you are looking at one of the biggest lessons in life this is one of the most important lessons in life you need to think think about this so there so he says okay what if what if I give you I'll give you money again I'll pay you some money I'll give you 25 cents per hour that's a raise before he was paying them 10 cents an hour so double the money says how about I will pay you 25 cents per hour so first you were getting 10 cents then nothing now I'll pay you 25 five cents how about that what do you think and Robert kind of real uh he's trying to trick me right so Robert says uh no no no and he says okay how about I give you one dollar per hour and then Robert ahaha that's a lot of money at this time is 1950s 1956 and Robert says well no no it's just okay I'll give you two dollars per hour for doing this job but I'm not going to teach you any more but I will pay you $2 an hour just a lot of money in 1956 he says it was 1956 and that would make me the richest kid in the world I couldn't imagine making that much money I started to think about I started to imagine all of the things I could buy I could buy a new bicycle I could buy a new baseball glove all my friends would be amazed at how much money I had but then he realized he knew he said I know he was testing us he was testing me he was testing us so Robert Robert says again no no not two dollars or now he realizes there's some trick so then the rich man says okay five dollars an hour I will pay you five dollars per hour working which at that time for a kid nine years old that's a huge amount of money and he said I became silent and I realized something was wrong something was wrong because most adults in 1956 didn't even make that much starting at their first job because I became calm and I realized I'm not going to say yes there's no amount of money I'm not gonna say yes he's he's starting to learn the lesson he realized there's no price I want to learn how to be rich I don't want to just be paid by him working this job I don't like and the Rich Dad says good good he says look most people have a price most people have a price if you keep going up up up eventually most people will say okay yes pay me that and I'll do it he said most people are controlled by two emotions two emotions with money fear and greed fear and greed control most people financially with money is this fear of being without money fear of not having money makes people work hard and get the paycheck get that paycheck get the paycheck and want to take you know a job that pays a you know that pays enough and they're afraid of losing the job fear of not having enough money and then the other side greed greed makes us think about all the great things we can buy if we get more money we start to get greedy we imagine all the good things we can buy now as a child he was imagining a baseball glove and a bicycle but as you know adults cars and houses and travel and nice hotels and whatever jewelry you know and he says this is the pattern this is the trap because it a trap it grabs people and makes them slaves to money it's the fear plus the greed creates the trap and they're trapped for their life most people are trapped all of their life by money by the fear and the greed he says this is the trap that makes people get up go to work pay their bills get up go to work pay their bills going every day get up go to work pay bills get up go to work pay bills get up go to work pay bills most people many people probably most going to jobs they don't even like that the jobs they think are boring jobs that they don't enjoy that they really don't really want to do and so people's lives are forever controlled I'm reading from the book now people's lives are forever controlled by two emotions fear and greed if you offer them more money they will just increase their spending they'll buy more he says this is what I call the rat race with a rat race now that is an idiom actually the rat race because slang idiom the rat race very common very very very common in American English the rat race the rat race is exactly what he describes when people say I'm tired of the rat race it means this this every day is the same right and every day is kind of this boring work get up right in the same pattern get up get dressed get in the car drive for an hour to get to work go to the office work in the office boring work all day come home drive one more hour home come home turn on the TV watch the TV go to eat dinner go to bed next day exactly the same next day exactly the same next day exactly the same over and over and over and over and over and over so we say in in American English we say rat race we call this the rat race it's not positive right it's negative it means you're living like a little rat not like a full human so finally Mike his little friend says well is there another way is there another way right we don't like the rat race we already see we don't like working this job and it doesn't really matter how much you pay us is no fun and rich dad says yes very few people find the different way very few people escape the rat race but it is possible he says the first step is telling the truth the first step to escape is to tell the truth about how you're feeling so he says you know most people don't they're not honest about their fear and their greed they don't look at their feelings they don't look at their fear and their greed with money what happens is you know maybe they're unhappy they feel like they don't have enough money then suddenly they get more money and when they have more money in their hands then they have emotions they feel happy they feel desire they feel greed they feel excitement then they go spend the money and they buy his expensive stuff and they feel good for a short time but then the money's gone now they need more money so then they go back to work and try to make more money and then they get kind of bored and depressed again and then they they're afraid of losing it then they get more money then they go out and run out and buy more stuff they get excited and it's just a cycle right fear of losing money fear of not having enough and then the excitement and the greed of having more so he says money is running their lives means running their lives means controlling their lives money is controlling their lives and they won't tell the truth about it this is the first problem the first problem is they won't be honest about it most people will say no no no no I'm fine no no no everything's okay most people don't want to be honest and say yes I'm a slave to money yes I'm miserable at my job yes I'm controlled by money I'm controlled by fear I'm controlled by greed most people will make an excuse and he's saying this is why just being rich just having a lot of money will not completely solve the problem he said that's why I want to teach you not only to be rich I want to teach you to be the master of money because if you just become rich if you just a lot of money but you're still controlled by fear you're still controlled by greed then you're not really free so he says you must be free he's saying to be truly rich is to be free and I agree he says another word a different word instead of greed you can call it desire desire is the same idea desire and this is the problem with this desire the greed is that many times you know money if you get a lot of money like if you suddenly got ten thousand extra dollars right now you would have probably be happy most people will be happy and exciting but he says the problem is that the happiness that comes from money usually lasts a short time it only it only makes you happy a short time you know you have the excitement you feel great then you get used to having the extra money and then all that happiness and excitement just goes away then you need even more money to feel the same excitement again so then you you you run out and you try to get even more and okay you get even more money now you get a hundred thousand dollars again you're excited and you have fun and you spend the money or you and whatever you do with it you feel great for a while but then you get used to having that or you spend it all then the happiness the excitement goes away disappears again and now you need even more he says so these people that are thinking that money will you know get rid of their fear and desire but money can't do that you have to do that yourself first to master money you have to become the master of your fear and your desire then when you get money you're controlling it it's not controlling you he makes another point about people who get suddenly rich or who are controlled by money even if they have a lot they're afraid of losing it he says I know people who have milli of dollars but they're more afraid now than when they were poor they are terrified very afraid of losing all their money so they're controlled by fear even though they have a lot of money they're still controlled by fear they still have lots and lots of fear they're not happy just because they're rich we see this I mean just look at celebrities you know famous actors and musicians and athletes a lot of them are unhappy very unhappy people a lot of them have mental problems you know all that money hasn't helped them even being so famous hasn't made them happy in fact seems to make them even more unhappy they become more afraid because then they become afraid of losing it losing the fame losing all that money so that's not really being rich he's saying Rich Dad saying that's not the way to be truly rich then he talks about jobs again job is also not the solution he says in my opinion the job is not the solution a job is a short-term solution only it might it helps in the short term like if you're hungry if you need to pay your rent well they yeah maybe you need a job right now that's a short-term solution to help your basic needs but for long-term a job will not solve your money problems a job will not make you the master of money Robert talks about his poor dad his real dad he said my dad always tells me you know stay in school get a good job and rich dad said your dad is controlled by fear so again this is another kind of control by fear he says your dad is afraid you won't get enough money he's afraid you won't fit into society so because of his fear he's telling you to go to school and then get a job a secure safe job it's cuz your dad's afraid for you so he's saying what I'm going to teach you what I want to teach you is to master the power of money instead of being afraid of it instead of fearing money instead of fearing losing money whether you're rich or poor or in the middle I want you to master the fear he says you also must take responsibility you must be responsible you have the control financial freedom means you are in control of it he says you're you being rich are you having financial freedom it's not controlled by the economy it's not controlled by the government because you must not let your emotions control your thinking so I mean this is interesting because he's talking about money but in many ways this is like in many ways this is a psychology this is emotion is almost like meditation he's teaching it in the beginning and then he tells him that if you don't do this you you're not living the best life you can if you spend your life living in fear if you never explore your dreams that is cruel cruel means really mean it's terrible it's it's it's a horrible thing to not try to live your dreams to explore your biggest dreams that is that's horrible if you live in fear and that fear prevents you from doing that if you wake up in the middle of the night afraid that you about paying your bills like paying your debts paying your loans paying your bills if you wake up worried about that that's a terrible a horrible way to live thinking that a job makes you secure makes you safe that's lying to yourself jobs are not safe they're not secure the company can cut you any time any time it can happen suddenly it can be a big surprise suddenly your job is gone so he says do not let money run your life that means do not let money control your life this is the other problem we have fear and greed there's one more problem and that's ignorant right ignorant meaning not understanding not knowing not understanding how money works that's another cause of people's problems they have the wrong ideas about money so they try to do the wrong things and then to control by their fear or controlled by their greed and just it's never-ending so like the first step that you have to do is learn how to think even when you have strong emotions you have to learn how to think clearly even when you have a strong emotions because you might feel a lot of fear you might feel greed but instead of letting those emotions control you you have to be able to calm the emotions enough that you can still think clearly you can make clear decisions not controlled by the emotions finally he says this is a really interesting sentence he says the rich know that money is an illusion which means it's not real it's not real it's imaginary money is a is something imaginary we've just made it up human beings made it up it's it's only it's it's it only works because of confidence because most people agree to believe it I mean you can see what he's talking about right I mean if we we take some money it's just a piece of paper or it's just numbers on the screen there's nothing real about it an actual real thing if suddenly you know there's a big disaster and there's no food you can't eat the money all right that's what he's saying it's it's an illusion it's this thing that we created and it's in this way it's a kind of a game really and these is the rich no this the rich no it's a game and so they play the game well and they play it like a game and they play to win or as poor middle class actually believe that money is real and it's not real at all he says instead of looking for just money and being too focused on this illusion of money you need to be looking instead for opportunities opportunities don't focus so much on money don't focus on security and safety focus on opportunities opportunities for what we're going to learn so he says keep thinking keep talking keep working for free so I'm not going to pay you but I want you to start looking for opportunities look for opportunities just anyone anywhere in your life anywhere in your life look keep looking for opportunities to to make some money to create money not like with the nickels right but little business opportunity says basically what he's telling him and so a couple of weeks later the boys noticed that at one of the at a comic book store there's a comic book store that they like the electronic books and they go in and they notice one day that there's someone working there who's cutting the front page the first page cutting the the cover off of the comic books just but just cutting them off and then throwing them away and the boys right well why are you doing that why are you throwing them away and you know they explain these are the old ones that nobody bought so we just throw away the old comic books that people don't buy and Robert and Mike kinda haha I start talking and they get an idea they see an opportunity and they think okay will you give them to us we'll take them we'll take the old comic books you know if if you're just throwing them away can you give just give them to us instead we'll take them away for you and the woman is working there agrees she says okay great and what they do is they get out so they get hundreds of comic books they get a lot of them and they put them in a in a little room and it's in the basement Mike's basement that's the bottom underneath the house in a room and they get a lot of them and they decide to create a comic book library for kids a comic they create a comic book library with all of these old free comic books that they got they hired Mike's little sister to be the librarian right to kind of just watch everything and they charge each child ten cents to go into the library and the library's only open what two hours a day after school so just you know just run it's a little kids business but they start making money they make money this is Mike and I average $9.50 per week we paid his sister one dollar a week and allowed her to read the comics for free so they made eight dollars and fifty cents total per week which in 1956 is pretty good for kids so they finally they go at they do this for three months they do it for three months and then oh there's something happens in the comic book library a fight a couple kids get in a fight some bullies some bullies from another neighborhood came to their comic book library and started like trying to steal the comic books and they got in a fight and at this time rich dad said he says okay look I think you learned enough I said you're your comic book library it was a good idea you found an opportunity you created a little business you started making money you made money instead of just asking for a job from someone else right you were looking for opportunities instead you're starting to learn you learned the main lesson I wanted to teach you so he says I suggest you no go close your closure library just just go ahead and close it because I I have more lessons to teach you so I want you to focus on these other lessons but you know good job with that comic book library but it's time for us to do something else and then Robert says you know he realized that because rich dad did not pay them at all and instead said look for opportunities look for opportunities I'm not going to pay you anything you have to look around for opportunities in your life it took some time but eventually you know they had to use their imaginations they had to identify an opportunity to make money he says by starting our own business the comic book library starting our own business we were in control of our money right we were not dependent on an employer right we were not working for an employer please pay me employer please pay me they were in control they were the owners and he said our visit the best part about our business we made money even when we were not there right because they paid Mike's little sister to be an employee to watch the library and collect the money so they could go play a baseball game well his sister worked there and they still made money so he said instead of paying us rich dad had given us so much more he gave us gave him a great lesson in life they learned after it took a while took many months but they finally learned this great lesson of life fantastic and that is the end of chapter 1 the end of chapter 1 so we go from the at the beginning of chapter one little Robert wants to be rich first he asked his dad teach me how to be rich his dad has no idea just says well get a good job then he goes to rich dad his friend's dad Mike's dad rich dad first kind of tricks him and and you know he rich dad's dad teaches with experience he doesn't just tell him everything he wants Robert and Mike to both learn from experience so he gives them a job that's really he knows they're gonna hate the job right so they behave the job is boring first he pays them a little money Robert gets mad wants to quit he changes his mind then he says now you have to work for free so huh now Roberts really upset and then finally he comes back and he says okay look I'm gonna teach you something and he teaches him about fear teaches him about greed overcoming those teaching about ignorance and he says how do you overcome all this he says you have to see that money is a game it's not real don't let money control you because it's not real it's a game you just need to be looking for opportunities it's imaginary you're creating it imagine that you're just creating money with opportunities so start looking for opportunities to to make money to create and so what he's saying is look for business opportunities look for business opportunities and you know the boys finally in the end decide this idea to try a comic-book library and it's successful and they make some money from it do they become rich no they're just little kids but they but they do a good job rich dad's very happy that they've learned a very important lesson and we'll see in the next chapter it's time for more lessons now this is great this is really fantastic you know it it's interesting because in many ways I think a lot of entrepreneurs have a childhood story like this again an entrepreneur is someone who starts their own business so I can't remember as a kid also I just had this desire to do this kind of thing and I didn't have a rich dad but I just was looking for opportunities you know some kids just have this naturally they just become just in I think it's good if they're maybe if their parents don't spoil them right it doesn't matter how much money their parents make if the parents don't spoil them don't give them money instead if the kid has to like like Robert be creative and uses imagination or her imagination and think of ways to make money instead then it's great because then the kid can start thinking more like an object preneur learns this lesson naturally and I kind of did that my parents would give me a it's called an allowance it's kind of like a paycheck for again right but it was very small I couldn't buy much with it and you know I went oh everyone wanted to buy a new bike one time or some toy or something and they wouldn't buy it for me so then I had to start thinking how can I make more money right and at first I did the simple things which was I I mentioned before where I would go doesn't go around to my neighbor's house and knock on the door ask to cut the grass you know in their yard for $10 or $20 or something or occasionally it's when it snowed then I would go around and shovel like oh you know good their driveway where they parked car I would dig the snow off and make some money that way I'm always trying to bug my parents to try to do some extra job so I could get get paid some extra money and as I mentioned as I got older I started doing things like like I would buy gum and candy at the store I'll buy a lot of it so it was cheap you know so I had a little bit of money I'd go I'd buy a bunch of it candy was cheap then I would go to school and I would resell it at school and at school this is sort of like there's some several businesses that do this at school it's called a captive market captive market it means at school the children cannot leave right they cannot leave the classroom they cannot leave the school there they're like little prisoners and because of that they can't go if they if they wants candy or gum and they can't go get it and the schools didn't sell it so they had no choice I was the only one doing it the only ones selling it was kind of a secret because it was illegal teachers we weren't supposed to have that and certainly they didn't wouldn't want me selling it but anyway I didn't care I was a rebel and I so I just start selling it and then people all the kids started learning that I I've sold gum and sold candy and I've made pretty good money actually doing that surprisingly good and easy money doing that that gave me a good amount of spending money in high school I did that in high school let's see that's that's the example the kind of example that Robert Kiyosaki's talking about right I could have just gone got a job that's what most teenagers do they just go get a job or get fast food or some part-time job after school but instead I did that I was I was already at school kind of bored at school honestly I found school quite boring and so I was during the breaks at school I would be selling my candy and gum and in class even doing it sometimes and then after school I was totally free didn't have to work just go do stuff with my friends worked very well again I didn't become rich but I did you know it was the first little beginning back now I realize yeah like yeah kind of maybe I was kind of a natural entrepreneur in a way because then the rest of my life I kept trying to think of how can I could I be financially free and I didn't have rich dad to teach me and I didn't have that book for a long time I eventually read it aside to kind of just figure all this stuff out myself when I finally did read Rich Dad Poor Dad I said yes this is great I wish I had this book when I was young oh well but you have it now doesn't matter your age you can start at any age you can start at any age and I think for me the big lesson of chapter one that's a two big lessons one he makes a very good point about the emotion fear and greed fear and desire these two emotions that control most people and why most people become slaves of money that's exactly what I see I mean I see it every time I talk about this topic people who have this dream of starting their own business or being freelancers being self-employed being somehow financially free investing whatever it is it's when they ask me questions or they they have their doubts or they're not sure what to do it's fear fear fear fear is the most common one they're all afraid they're afraid to fail they're afraid of making a mistake they're afraid of criticism they're afraid what will other people do what if I try it and it doesn't work fear fear fear fear fear fear fear he is a hundred percent right about this absolutely he's correct it is controlling most people and it's sad it's sad you have to master that fear you've got to learn to master the fear this is the first step to get financial freedom the greed I think that's more common with people who just sort of normal people who don't even think about this people who want to start their own business I find often they're not so much controlled by greed they're more stopped by fear but we can look in the culture I mean look on TV you know you see this culture of greed greed greed right you know like all the the stars music stars we're and they're wearing the big gold chains and they got the super expensive you know clothes and cars and their TV shows celebrity TV shows and most the whole point of the TV shows or the reality shows the main point is just to show how rich they are and how much they have and now they're buying more and more and more stuff it's just it's greed it's a celebration of greed it's pushing greed but these are not happy people if you really look at their lives look at who they are they're not happy people they're not they don't have a lot of meaning in their life today so he's also right about that just getting a lot of money will not solve your problem if you're still controlled by fear and greed it's not you know it's better than starving it's probably better than being poor but maybe not not necessarily see people people who don't have much money just think they don't they can't understand this point but he's a hundred percent right about this that in many many many many cases people are happier when they have less or when they had less there are many many many stories I mean just look at all that you know different famous celebrity stories people who were didn't have much money maybe they're working like as a waiter or a waitress and they're working hard they want to be an actor they're going to acting classes that are they're acting in little small plays in the theater not really making much money but they're doing okay they do it okay right there they're there they're not miserable but but they really they got the big dream to be a big star and it finally home they get the big break and they're in a big movie and then suddenly they're famous and they start getting millions of dollars they get paid millions of dollars for every movie and they buy all the stuff all the only the most expensive fashions and only the most expensive cars and servants and they have ten houses and their private jet and all of this stuff and then they kill themselves or they become drug addicts or alcoholics and they get arrested they they they they destroy their lives they were actually happier when they were a waiter or a waitress this is this is not just a one time story this is the fact this is a very very very common story if you look at musicians actors athletes this is a very common story and it shows exactly what Robert Kiyosaki's trying to say about if you're still controlled by the fear or the greed or both you're not going to be happy and more money will not solve your problem you've got to master money and you got to master the psychology first these emotions because a lot of these people a lot of the stars you know if you can see it you can see that that that they are controlled by fear they become famous maybe it's not the money maybe it's more the fame and the attention but you can see where they get the fame they get the attention ah this is great and then you know maybe their career starts to drop maybe their movies make less money and suddenly they're getting less famous they're getting less attention and they become almost crazy right they start doing crazy stuff just to get attention trying to stay famous they're afraid they're terrified of losing the fame of losing the attention many of them do lose that fame and this also happens with the money because they know these people are not smart about money they're not the masters of money so when they're making a lot of money you think they're rich they look rich but if they lose their career if they stop making millions of dollars from movies they've they're they have a huge amount of debt huge cuz they've bought you know ten houses and twenty Ferraris and all this other stuff and so this is why you know you were always surprised you're reading the news about some some huge star and Johnny Depp or something and and then you read they're bankrupt how could they be bankrupt they're me they're making twenty million dollars per year how could they possibly be bankrupt it's because they don't really understand money they're not the Masters of money they're getting a lot of it from their acting job but they really don't understand it and so they're just spending it like crazy and they're actually getting huge amounts of debt they actually have it in really bad financial shape and then maybe their career drops a little bit and they stop getting the same acting jobs and then suddenly the money is gone it's crazy and this is what many of them are terrified very afraid of this once they have all that they're afraid of losing it so their life is filled with fear or greed right I mean when you think about it it's also that's the other side of it which i think is sad and shows a deep unhappiness is if you have let's say you do have 10 million 20 million dollars and then and all you can focus on is just more like I've got three Ferraris now I need a Lamborghini now I need this now I need that and just keep they just keep collecting more and more and more cars more and more and more motorcycles more and more houses I mean you know who needs ten houses is ridiculous right why do they do it it's just this kind of endless greed is uncontrolled greed they are controlled by the greed they're not thinking logically right because logically it's and financially it's it's a stupid thing to do it's really stupid to own ten houses I don't care how rich you are it's stupid houses are cost you money you lose money from houses usually so they're controlled by agree they're controlled by fear they're not financially free there's still the slaves of money so these are good lessons to learn I'm glad that Kiyosaki puts them in the first chapter so he wants us to be thinking correctly about money before he starts talking about more lessons to really understand these these ideas these are the things that truly rich people understand that others don't like Warren Buffett understands these things and Warren Buffett one of the richest men in the world one of the greatest investors in the world and you know you ever see how he dresses he's not wearing the most expensive fashions he's got billions of dollars and he still doesn't do it I've read interviews with him and he says well just because I'm rich doesn't mean I'm stupid doesn't mean I'm going to waste my money on stupid things yes that's why I became rich that's why I'm rich right that's why I'm wealthy because I'm smart about money and I'm now that I have a lot of money I'm still smart about it that's why I'm going to keep it that's why I'm the master of money whereas Johnny Depp for example you may like him as an actor but he he's pretty stupid about money it's a big difference that's the difference between people who are truly rich who truly are masters of money and are financially free and people who just get a lot but they remain slaves to money and the reason you want to be the master of money is because that's how you become free and happier so that you're in control of the money the money's not in control of you so that was our first big that's like a huge lesson of the chapter a hundred percent agree with what he's saying and then right at the end we get another that's the this is sort of the problem he's describing the major problem that's what a lot of the chapters about and probably most of the chapters really describing the problem that most people have about money but right at the end we get a little taste we get a little lesson about the solution one of the solutions the first part of that is just the idea of controlling your emotions instead of your emotions controlling you yes you might feel greed and fear but you need to be aware of it he's basically describing a meditation technique of learning how to let go of emotion and to continue thinking clear noticed the emotion notice the feelings but don't be controlled by them and then he says well what do you focus on instead what what will you be thinking about instead instead of the greed and the fear focus on opportunities look for opportunities realize change your idea of money instead of money being this magical thing this real thing that has all this power that's real and you must get it it's like just think of it as an illusion it's an illusion it's a game and then if you do that when you when you start seeing money as a game you relax more your the fear relaxes and even the greed relaxes because then you're more like playing now you're playing now money is something you're playing to get and if you lose some well that's part of the game sometimes sometimes you lose it sometimes you make it it seeing it as a game it is not real and as a game helps to control the fear in the greed it helps you to let go it helps to lessen those emotions because you start seeing it's a game it's a game it's lost some it's not real doesn't matter I'm okay and if a lot of it comes it's the same thing you don't get too excited about it because hey it's a game great I got some this time and then the next part of that game then is you just start looking for opportunities let's look for an opportunity where can I find in my life and he found comic books and this is a great way by the way to get started is to look in your life and just focus on things that you are super excited and passionate about that you know a lot about like it could be a sport of comic books it could be reading it could be a hobby you have it could be your profession what you do for a living and to make money it could be anything like the comic book I like this example because it just shows that it could be something very simple and of course this kids example but it's the right idea right my gum my gum and my candy example that's a great one here's a here's something that a lot of people could do right now right now they could do it you could just have a little business on E Bay or at a local small market yeah we call them flea markets in English flea market is this like local small market and people just bring anything any stuff it might be furniture it might be artwork anything they can find they bring to the flea market and they sell it it's usually just extra stuff they have but some people make whole businesses doing this and people do this also on eBay there's an opportunity if you're smart you can do exactly what I did with the gum and the candy bars and what you do is you find something that you can get cheaply maybe you know locally in your town or something maybe you know somebody and you get it cheaply and then you sell it you resell it on eBay for a higher price and you make a profit because you bought it cheaper and you sell it more expensive you have a little side business suddenly it's really easy I don't you might make a lot of money you might not but it's good practice it's a really good practice people who are afraid to start it their own business because they think it has to be some huge big thing so the fear stops them well this kind of little business is a great way to start learning about business to start thinking about opportunities to really get in the game of money get in the game of business in a small way that's not so scary and it's not that's very low risk you're still gonna learn great things you're gonna learn about looking for those opportunities that when you can buy something or make something or do something cheaply and then sell it at a higher price and that's it that's a very great way to make some money there are huge businesses that are built just on that tactic that strategy by something cheaply or make it cheaply and then sell it more expensively you also learn by doing this kind of little business you'll learn how to sell better you'll have to start learning some sales skills if it's a local market where you're face to face you can have to talk to people and sell them they might walk up and let's say they want to buy this little tripod you're selling these little tripods you found them cheap somewhere or you make them yourself we have a friend that makes him go to the little market and you have a table you're selling tripods to everybody well if you just sit there and you put the tripods on a table and you just sit there and do nothing you're probably not selling them any tripods that day maybe you get lucky maybe there's a lot of people in your town one of my tripods but probably not gonna sell many unless you get good at marketing and selling right now this could be you might just start shouting tripods for sale you know use your phone take great pictures improve your pictures with this tripod it'll keep your phone steady and you start shouting out all the benefits of your tripod getting the attention of people who are walking around telling them why this is great and then some people will hear you and actually yeah maybe there's people if you do a good job if you learn the skill you need to practice but if you do a good job you'll start selling a lot more of these tripods because you're learning how to sell now a super valuable skill for making money one of I think the most important skill actually and then maybe if you might say well I'm gonna start selling these on eBay now I could reach more people on eBay so then you again you have to learn about marketing and selling on the Internet which is a little different than just shouting right so then you got out maybe you got to take a picture of your tripod make it look really like it's a really nice product and you got to write about it again writing about all the benefits of the tripod how it helps you you know take good pictures you can do live video streaming and the tripod you know give creates a more stable image and you your hands are free if you use this little tripod it's portable it's light it's cheap you know I can go on and on about this but you learn how to do this in writing and with pictures maybe even a video where you're talking about it and showing it see I'm going because in my new business over started selling tripods this is exactly what you do this is how you do it it could be anything and then you put that add up and you know you you start testing different advertisements and and selling on eBay and if you do a good job and you learn you're gonna start selling these tripods on eBay and then you might get even bigger business you might start selling a lot of these maybe you sounds small maybe so a huge amount I don't know but you're gonna learn something anyway he's definitely gonna learn even if it's some small thing like this I mean whoever made this this is a company called Ella comm this is probably a multi-million dollar company I'm guessing I don't know for sure but somebody's probably getting rich from making these and selling them and you could still probably have a decent income reselling them if you're smart about it if you find the opportunities right so you can see it could be anything could be furniture it could be these kind of things selling little products like this at a little market or on eBay I think it's a great great way to if to learn just like Robert is learning from Rich Dad because the best way to learn about money and opportunities and mastering money starting your own business or being a freelancer is to just do it do it in a small way first alright so many people if they think oh if I start my own business I got a you know they're thinking Silicon Valley right there thinking millions of dollars and lots of people working for them and big offices and all this stuff that's ya know you don't do that I mean that's a huge huge project and very very very very tough you need to think a little selling gum selling candy selling little tripods selling furniture selling little artwork that you do or you can also sell services this is more like self-employment but it's still better than you're still gonna find opportunities it's still you know a step towards financial freedom so maybe instead of something you make or buy and resell maybe its instead something you do again from my childhood right I was cutting grass if I wanted to sound professional I'd call that landscaping right but just cutting people's grass I was digging up the snow when the snow came because it's it's hard work people don't want to do it so I would go around I did a service so I had a little business it was a service business you can also do that me then maybe there's things you're good at know what you're good at but you just look you got to look for the opportunities a great way to a lot of this is another question I get a lot is you know what should i do how do I know what to try you know the best way to know is look for problems and then solve them and where do you look for problems in your own life that's the easiest place to look we all get frustrated at different times right with some service with some problem in our life whatever it is look for someone to look for someone who's frustrated or look in your own life when you're frustrated and then you think can I solve that problem can I help somebody who also has this problem if the answer is yes someone will probably pay you to do it I'll give you an example from my own life this week I was really frustrated my computer kept crashing I tried to get ahold of the big company Apple their support I had a lot of frustration if I knew somebody locally who was like a Mac expert I prayed them I would have happily paid them to come over here look at my computer and solve that problem instead of me dealing with it for hours and hours and hours that's a great service right there that's a business and again these these little businesses what's so great about them they're great for learning you learn the basic skills of cell sales marketing services products pricing all these very important fundamental skills of business and they're also low risk and you can do them part-time you can continue doing whatever you're doing whether you're if you're a stay-at-home mom you can you can still do this little side business and some extra time especially the kids are little older going to school when they're at school you could be working your eBay business or doing your little service business or if you're working a job full time you know you could you could do something on the weekends or in the evenings so these little businesses are a great way to learn and again they're low risk you're not gonna lose a lot of money you may not make a lot of money but you might you might you might still make decent money that extra money could be great and if you do make some money you can save it and you can then use it to start an even bigger business we're going to talk about all that that's future chapters four right now I just want you to think about those emotions that he talked about and how to overcome them start seeing money is more like a game and start looking for these opportunities and looking for the little ones look for these little opportunities that really everywhere they're everywhere you just have to change the way you think okay as always go to effortless English club comm join my VIP program learn English with me learn to speak English fluently and powerfully and with strong persuasion skills join my VIP program lots of love to you see you next time effortlessenglishclub.com [Music] you

Channel: A.J. Hoge

Views: 109,760

Rating: 4.8679609 out of 5

Keywords: effortless english, ajhoge, EEBookClub, entrepreneur, fiancial freedom, EEBusinessClub, EEShow, money, Robert Kiyosaki

Id: O7b74A5dPwc

Length: 60min 5sec (3605 seconds)

Published: Sat Jun 16 2018