Remember All This

Question 1

It doesn’t take money to make money

Answer 1

It doesn’t take money to make money

Question 2

Questions to as yourself

Answer 2

Are you building a pipeline or are you hauling buckets?
Are you working hard or are you working smart?

Question 3

It’s not what we do but more of what we generate income from

Answer 3

It’s not what we do but more how we generate income

Question 4

Important words are “income generated from”

Answer 4

Important words are “income generated from”

Question 5

You only have so many hours in a day and you can only work so hard. So why work hard for the money?

Answer 5

Learn to have money and people work hard for you and you can be free to do things that are important

Question 6

Money is important but I don’t want to spend my life working for it

Answer 6

Money is important but I don’t want to spend my life working for it

Question 7

Definition of wealth

Answer 7

Number of days you can survive without physically working and still maintain your standard of living.

Question 8

Wealth is measured in time not dollars

Answer 8

Wealth is measured in time not dollars

Question 9

Income from your investments must be greater than your monthly expenses

Answer 9

Income from your investments must be greater than your monthly expenses

Question 10

What matters?

Answer 10

It’s not how much money you make that matters, but how much money you keep, and how long that money works for you

Question 11

What is the main problem in today’s generation

Answer 11

Doctors say today stress is caused by working hard and never having enough money. Biggest cause of disorders today is “cancer of wallets”

Question 12

How do you know if money is coming from I quadrant?

Answer 12

If the rent collected is greater than the expenses to manage the property, then it means money is coming from I quadrant

Question 13

How do you know if you are generating income from I quadrant

Answer 13

How much money you generate from the quadrant without working on it

Question 14

What does it take to be financially free?

Answer 14

It takes neither money to be financially free, nor a good formal education. Instead freedom’s price is measured in dreams, desires and the ability to overcome disappointments that occur along the way

Question 15

Min number of quadrants you should be in

Answer 15

In the aspect of financial security, having two quadrants gives greater stability in the world of financial freedom

Question 16

One hard truth and fact

Answer 16

The reality is that your boss’s job is not to make you rich. Your boss’s job is to make sure you get your paycheck. It’s your job to become rich if you want to. And that job begins the moment you receive your paycheck

Question 17

Do you have to work extra?

Answer 17

When at work, work hard. But remember that what you do after work hours with your paycheck and spare time will determine your future.
If you work hard on the left side you will work hard forever. If you work hard on the right side, you have a chance of financial freedom

Question 18

What should be the goal?

Answer 18

Be in B and I quadrant.
The goal is to own a system and have people work that system for you.

Question 19

What should you keep in mind when taking a loan/debt?

Answer 19

If you take on debt personally, make sure it’s small. If you take on large debt, make sure some one else is paying for it.

Question 20

Always believe facts and don’t rely on opinions

Answer 20

If you can’t research and find if something is a fact, then it is an opinion

Question 21

What is due diligence in finance?

Answer 21

Due diligence simply means doing your homework and finding which statements are opinions and which are facts

Question 22

Is just due diligence enough?

Answer 22

People who are afraid of making mistakes all they do is just due diligence and then do nothing. Too much due diligence is also called analysis paralysis

Question 23

What is important to achieve goals?

Answer 23

Focus on what you have to be than what you have to do