< BACK Subscribe

“The Biggest Mistake Young People Make...Is to do what they love instead of investing in what they love.” By Robert Kiyosaki

June 19th, 2019

I do not want to spoil this short video because there is a lot of great information. This is for all 20 year olds or older who have started or want to know how to start this journey of investing. I will briefly discuss an area of focus that Robert sheds light on from personal experience. 

(1) Cash Flow Quadrant,  E l B

                                          S l I.    

E = Employee

S = Small Business/Self-Employed/Specialist (Doctor, Lawyer, Etc.)

B = Big Business (500 Employees or More)

I = Professional Investor

When we are in our 20s, most of us start in the E and S area of the quadrant because we say, “I want to have a career that I love.” Basically, we are saying that whether we go to college or not, we go into our career or just get a job. We get into debt or add more debt on top of current debt. But we do not want to learn how to invest in a career that we love. Well, to invest in a career that we love, we have to learn other areas in that business that we love; as well as, accounting, finance, where is the money going, how is it coming in, how to save our money and where to invest it. We need to get more educated; read more or take online courses. There are lots of online courses we can take for free. We can call any Real Estate Company, University, or Library of the state we live in, they can point us in the right direction of where to find these free courses. If we are super savvy with technology, we can type any topic into the search area and learn about it. 

I know for me and my husband, we did that mistake back in our 20s. We were not educated enough or had the proper experience to lead to financial freedom the right way; if we just had listened, learned, and read more, it would have benefited us tremendously going forward.

Our combined debt from college was around $54,000. Not to mention our car and credit debt that is additional to this amount. We were living pay check to pay check and could not save any money. When we tried to save money, something would come up and we would have to use it. 

We finally got smart in 2005 in our late 20s, cleared up our debt from college, our car debt, our credit card debt, which in turn took us about 2 years. We read everything from money, to finance, investing, budgeting, and learning from others that did it the right way. We then, started investing in what we love. Which I have to point out takes time for everyone; regardless of when one begins this journey. 

I am sure some of you that are reading this are saying, “Where do I start; I have no time to read, take free courses online, or go to the Library?” I have news for you, if you only have 5 or 10 minutes a day to learn, that time will save you from being behind in your journey. Block out some time either at 5, 6 or 9am, on your lunch break, when the kids are at school or napping at home, 5 or 10 minutes at night when it is calm and the kids are in bed. Over the course of 5 days for 1 week, that is 25 minutes @ 5 min/day or 50 minutes @ 10 min/day. That is quite a bit of minutes to get some education done. You can also journal a plan of what you have to do each week, calls, or reading in 1 weeks time. Also, if your at college on a lunch break or some time between classes free, that is also a great time to educate yourself on money; how to start or continue your journey to get to the B and I area of the quadrant. However, if for some reason you miss out on that learning one day, do not stress about it, just continue on the next block out day and time you provided for learning. 

I will leave you all with this...

Imagen if we all learned how to manage our money the right way in our 20s...There would be small debt, or we would be debt free. We would see more people managing or investing in their own businesses or other businesses; besides investing in what they love. More people would be taking time for themselves, have a less stressful life, and start to not work as much by the time they are in there 40s or early 50s. They would be enjoying life more or be enjoying the journey to get there. We would then be in the B and I area of the Cash Flow Quadrant.  

Hope I was able to help everyone today...Please like, love, share, or subscribe! :-)

Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

Join My Blog

Realtor @ JLA Realty...Residential & Commercial Real Estate For Sale/To Buy, Real Estate Open Houses, Real Estate News/Research, Real Estate Blog, & Community Events
JLA Realty
5332 FM 1960 East Suite C, Humble, TX 77346   Get Directions
Phone: (713) 489-8130
Fax: (866) 720-7817
  • Archive
    •     2020
    •     2019