Don't be a lazy loser

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by Robert Kiyosaki

Most of you who follow my books and this column know how I make my money. First of all, I'm an entrepreneur.

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Second, I love real estate. Not only do I think it's the best investment in the world, I can prove it. What other investment is there that has bankers lining up to lend you money? They won't lend you millions of dollars for years at a time to buy stocks, bonds, or mutual funds. And what other investment will your insurance company insure against losses? Surely not mutual funds or a 401(k).

Third, I love commodities like oil and gas. Why do I love them? Because they're in short supply and in great demand. Wars have been fought over oil and gas for years. What do you think the war in Iraq is about?

Finally, I've loved gold and silver for years. Why? Because I don't trust the U.S. government to be good stewards of money. As you may know, the Bush administration has printed more funny money -- over a trillion dollars' worth -- in six years than all past U.S. presidents combined.

Wars have been fought over gold and silver, too. Why do you think the Incas lost their empire to the Spaniards, or the American Indians lost their land to the European settlers? The conquerors may have said that they were acting in the name of God, but remember -- there's only a single letter's difference between "God" and "gold."

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Over the years, I've met many losers who pray to God to give them gold. They'll never get it that way because, as the Sunday school I went to taught me, God helps those who help themselves. Again, the conquistadors may have been killers and thieves, but at least they knew how to help themselves.

I do, too. As some of you may be aware, I wasn't born rich. And I've written openly about my failures as an entrepreneur and my losses as an investor. I haven't hidden my horror stories. The reason I don't keep them secret is because my failures are the best learning experiences of my life. We learn by making mistakes -- except in school, where we're punished for making mistakes. This may be why most schoolteachers aren't rich.

I'm not recommending that you become an ambitious looter, as Ken Lay and Jeff Skilling were convicted of being. I only want to point out that if you're not a lazy loser, you may find yourself with more gold in your life without having to resort to looting.

http://finance.yahoo.com/columnist/article/richricher/8211

[Mirorgate 0]

God helps those who help themselves.

Ben Franklin.

Edited August 22, 2006 by Mirorgate