66. Knowledge of investing and money management must be past down to three generations
Precious advises to success - 36 secret codes
導向成功的金玉良言 --- 成功秘碼 36條
Not knowing how to invest or investing improperly can shrink your wealth. Only you are accountable for the shrinkage of your wealth.
「不會投資理財或錯誤的投資理財，會讓你鈔票變薄 ( 縮水 ) ，讓你財富縮水的責任，是你自己的責任。」
If you possess a large amount of cash, you should invest it in things that tend to retain its value, such as precious metals, energy, or real estate.
Immobile water becomes stagnant; immobile money becomes a pile of trash. Even when a person has millions of dollars in cash, if he doesn’t know how to invest, utilize, or spend it, that money is as good as trash. It becomes a waste of financial resources.
「 水不流動就是死水，錢不流動就是廢紙一張。人若抱有百萬現金，而卻不懂得去投資 ( 消費、花費 )，那鈔票就像廢紙一樣，是一個經濟資源的損失/浪費。」
Each person must learn about financial investments to mobilize their capital. By investing the money, allowing it to multiply, it will not only increase the wealth of the individual, but also move the entire economy towards prosperity.
Real estate is the linchpin of the economy. While the real estate market is hot, the economy will rise. Likewise, if the real estate market is in decline, then so will the economy.
Social prosperity and progress is driven by the real estate market. The real estate industry depends on the influx of massive capital; therefore investing in real estate creates a niche for the flow of capital. It will benefit you the investor and initiate social progress, killing three birds with one stone. Everyone wins.
While everything else is on the rise, only the US real estate market is dropping through the floor. This is the best opportunity to invest in the US real estate market. The further it falls, the more reason to invest in it.
The best time to invest is not when the market is hot, but while the market seems to be at its worst. With great risk, comes great rewards.
Not everyone can recognize an opportunity. When it’s something you can’t see, but I can, that is a true opportunity. We must not await opportunities, but create them.
Don’t expect to earn money that everyone can earn; go for the money that others cannot earn. Don’t pretend to be someone you’re not. Without strength and tenacity, never play the stock market or the housing market.
One, who does not have the habit of saving, has a bleak future.
If a man has cash but doesn’t know how to invest, his future is just as bleak as the man who doesn’t save up.
You can never have too little to learn how to manage and invest your money.
You can never be too young to start learning about money management and investing.
Money does not just belong to the rich. Lack of money isn’t just for the poor. The poor can become rich through hard work, just as the rich can become poor if they don’t work hard.「有錢，不是富人的專利，沒錢，也不是有窮人的專利。」只要你努力，任何窮人都可以變成有錢人，富人如果不努力，一樣可以變成窮人。」
If you don’t constantly learn and improve, your outdated knowledge can become a hindrance to success rather than an asset.
If you don’t work hard, you cannot succeed. If you don’t study, you cannot improve. If you don’t invest, you cannot grow rich.
You shouldn’t allow your age nor wealth to be a reason for complacency. Once you stop learning about investment, your financial knowledge will regress, which can lead you to poverty.
「不可 以老賣老，不可 以富賣富。只要你停止學習投資，你就會退步，甚至會變窮。」
Having a multitude of skills frees you from the fear of losing your job because you can always choose to start your own business.
Before you start a business, you must learn to invest. Before you invest, you must learn to manage your money. Before you can manage your money, you must learn to save up. Before you can save up, you must learn to have self-control and be frugal.
“Learn to live, live to learn.” This statement is true for life as well as financial management and investment.
Don’t plan your financial management and investment for one generation. Plan it for six generations. If you don’t understand the true essence of investing and money management, you will suffer defeat.
If children grow up and live their lives in poverty because the parents didn’t have the means to invest in their education, then the parents are to blame. Likewise, if generations live in poverty because they did not know to invest in real estate, then the ancestors are to blame.
Not only you must learn how to manage and invest money, you must be able to pass the knowledge down to three generations.
Knowing how to manage and invest money ensures your wealth will not shrink. Knowing how to pass the knowledge down three generations ensures that the wealth you accumulate can be passed down as well.
Managing and investing money is an essential knowledge that everyone should possess. Schools won’t necessarily teach you about it, but Tom Tang will.
Investing and money management should be a lifelong study. Never skip a day without furthering your knowledge in it.
Learning to manage and invest money is the best way to combat poverty. Teaching your children to manage and invest money is the best way to pass on your wealth.
The reason that family wealth can’t last more than three generations is because parents fail to set an example or teach the knowledge of investing and money management to their children.
Passing the knowledge of investing and money management down to the next generation is even more valuable than leaving them a large estate.
Children who know how to invest and manage money can increase their wealth tenfold. Children who don’t know how to invest and manage money will decrease their wealth to a tenth.
By passing down the knowledge of investing and money management, you empower your children to manage their own wealth, to increase their wealth tenfold, generation after generation.
The knowledge of investing and managing money is like an heirloom, it should be passed down from parent to children to grandchildren, to ensure that your family stays wealthy through the generations.