98. Understand the conflict between limited resources and unlimited needs, and you will realize how important timing is to any investment.
The only way to escape poverty and pursue wealth is to educate yourself in investment and financial management.
98. 「資源有限， 慾望無限」你要學會適時進場。
導向成功的金玉良言 --- 成功秘碼 53條
The average Joe who’s short on ideals dreams only about escaping poverty and getting rich.
「 脫離貧窮、追求財富是 一般升斗小民的夢想與理想。」
When the desire to escape poverty and the dream to get rich are mixed up together, they can easily lead someone to make mistakes and falter on their judgment, rationality, and foresight.
「當脫離貧窮 與 追求財富的意願連結在一起的時候，才會有「財不迷人，人自迷 」的現象發生，這時候人們最容易犯錯，失去判斷力、思考力 與 前瞻性。」
Money doesn’t turn into more money by default. Only money well-invested will expand into more wealth.
You want your money to earn more money for you, but money does not grow on its own. Only after careful investment and financial planning, will it turn into an engine that automatically generates more and more cash.
Whether escaping poverty or pursuing wealth, both require the right method, without which all your efforts will be in vain.
If you have no knowledge of financial planning, your savings may gradually wear down to nothing.
Without knowledge of financial planning, you’ll be trapped in poverty with no hope of escape.
Everyone should educate themselves on finance and investing, and learn to independently analyze data and predict market trends. Only then can you become a successful investor.
A person who knows nothing about investment or financial planning will never become a rich man.
To be an investor, you not only need to have the money to invest, but also possess the knowledge on how to invest it.
Making unwise investments is no different from throwing your money down the drain.
There are too many traps in stock market, which is why, without financial knowledge, you’re better off staying out of this game.
The stock market is infested with liars and blood-sucking con men. Stay on guard, for your account manager’s priority isn’t making money for you but for himself.
The biggest mistake an investor can make in investment and financial planning is giving in to his greed.
If you want to escape poverty and get rich, the only way is to get a good, thorough education on money management.
No one can pinpoint when exactly the economic recession will end. As long as you have reason to believe the economy is about to hit rock bottom, it’ll be the perfect opportunity to invest.
Don’t count on a distant goal you may or may not accomplish in the unforeseeable future; focus on working towards something you know can be done right now.
While other buyers hesitate in fear, it is the perfect opportunity for you to buy in. In fact the more people there are sitting around waiting, the more you should invest.
Search for investment opportunities when others are frozen with fear, and you will find success not unlike Buffet himself.
If you’ve been unable to buy a house, it may be because of your greed and lack of courage, your unwillingness to take action, to pay as much as is needed to get the house you want.
Those who can overcome fear in face of danger and seek opportunities in the darkness possess extraordinary wisdom, courage and audacity.
“Limited resources versus unlimited needs” is an important theory in economics. It is manifested in the rising of real estate markets.
If the market does hit rock bottom, everyone will be driven by their greed and rush in to get their hands on a house of their own. The fact that there’s a limited supply of houses will inevitably force property prices to rebound.
Understand the conflict between limited resources and unlimited needs, and you will realize how important timing is to any investment.
Some say that an investor’s failure in the stock market is attributed to two things: fear and greed.
The mortgage crisis scared off many potential buyers. The reason why real estate price keeps dropping is the combination of fear and an excessive number of bank-owned properties.
Rich Dad always says that making money is easy, while Poor Dad says that making money is hard. The difference between them is Rich Dad will seize an opportunity or create his own, while Poor Dad sits around waiting for an opportunity to come, and still fails to grab it even when one does come his way.
To catch a big fish, you need bigger bait and a longer line. Similarly, to make big money, you need to put up with small losses for larger gains, and set your sight far enough to see the big picture in an investment.
「釣大魚要用大魚餌」與「放長線釣大魚」這是釣魚的二個準則。賺大錢與釣大魚的道理是一樣的，「要吃小虧才能賺大錢」 與 「眼光要放得遠才能賺大錢。」
It should be common sense that without conceding small losses now, you can’t expect to earn big in the future. Just like you can’t hope to catch a big fish if you’re not willing to lose a bait.
The poor have a great fear of losing something. Yet that fear will only push them further into poverty. 「愈窮的人，愈怕吃虧。愈怕吃虧的人就會愈窮。」
While fear of loss may refrain you from making a purchase while the market is high, but it is your greed that stops you from buying even when the price is low.
If you’re not smart enough to invest in real estate when the market price and interest rates are still low, you may never get rich.
If you keep waiting for opportunities to come, you will only lose them. Those who pass up a perfect opportunity tend to make a habit of it.
Greed, pettiness, taking advantage of small things, the need to save a buck, and the fear of losing a buck can blind a man to perfect opportunities. This is why the poor get poorer.
The greedy are obsessed with small gains, unwilling to suffer the tiniest losses even when they’re necessary, thus they are prone to make mistakes, and tend to lack the wisdom to make decisive judgment calls and carry out their own decisions: this is why the greedy can never find success.
「只有 撿便宜與貪婪連結在一起的時候，才會有「怕吃虧」的現象發生，這時候貪心過頭的人最容易犯錯，失去果斷力、判斷力、執行力 ，這些不智慧的行動會讓你與成功無緣。」
It’s hard to get rich without ever buying or owning properties.
It’s a shameful act for those in poverty themselves to advise their friends against buying houses, much like how a bad student would encourage other kids to skip classes.
If you don’t intend to purchase real estate, do not drag down your friends as well by advising them to do the same. It’s as unoriginal and counter-productive as telling your friends not to get married because you can’t afford a wedding yourself.
The gap between the rich and the poor in our society is expanding. The government should be partly held accountable for this, but the lack of financial planning on the part of the poor is also to blame. Educate yourself on personal finance. Don’t know how to make money? Go to college to pick up more skills.
It’s obvious why those living in poverty, idleness, greed, and staying on welfare, cannot become millionaires.
House buyers who won’t budge on paying the absolute cheapest price are like vultures, not giving the slightest thought to how much the property owners will lose in this transaction.
Don’t trip over greed, pettiness, and small gains, then you may turn your luck around.
Keep an optimistic, positive, and motivated mindset, and you’ll change your destiny for the better.
Believe this: owning two houses or more can change your entire financial future.
Whether or not you’re buying a house should never be dictated by its price; it should be based on your need. If you have no use for a house, the price plays no part in getting you to buy one.
If your greed and your obsession with small gains and losses are preventing you from buying a house, you need to readjust your method of financial management.
A man too greedy and stingy to let go of small gains or to suffer tiny losses can never become rich.
Most people want to buy their own house, a dream often buried by their own greed and pettiness. In the end, they’ve lost everything for nothing.
While waiting for real estate prices and interest rates to hit rock bottom, people are actually gradually losing their judgment, rationality, and the ability to execute their decisions. This is yet another case showing us the harm of over-thinking.
「真正笨的事並不是在等房價在下跌的這件事，而是人們在看到房價下跌時 或 利息下跌時，人們會不自覺地降低自己對事情的判斷力 、思考力 、執行力。像這種聰明反被聰明誤的例子實在太多了。
Don’t lose your wits over the slipping home prices.
The price of a house should have little to do with whether or not you should buy it. Do not let lower prices or interest rates cloud your reasoning and judgment, otherwise you will inevitably lose more than you gain.
Keep in mind the focus for your buying a house is not its price, but your need to acquire it.
Rich dad will tell you that making money is really simple—you just need to seize the opportunities, fight for them if you have to, or create your own opportunities.
Only losers wait for opportunities to come to them. If you want to win, you fight for opportunities, or create your own.