Excerpted from a speech by Wayne Morgan.
I came across this statistic: According to the U.S. Census Bureau, about 57% of adults play the lottery in a given year. This tells me that there are a whole bunch of people who are willing to be rich (or at least richer).
You can become rich in several ways:
- Marry it
- Steal it
- Win it
- Find it
- Inherit it
- Earn via labor
- Earn via Investment
#1 may seem too adventurous. #2 may get you in trouble. To count on #3 or #4, you won’t consider yourself lucky. #5 isn’t an option (otherwise you wouldn’t be reading this). You long gave up trying to become rich through #6, so I suggest you consider #7: investing.
I have been studying the subject and investing in real estate for almost 25 years. Fortunately, I have made more than I’ve lost, but I have suffered some losses. I made the decision long ago that I would rather risk losing money and know why, than lose it and not know. At least I would learn something!
I don’t have all the answers, but I have learned a lot. My six years on the road and sharing the stage with Robert Kiyosaki were especially educational. Reading investment books and taking CCIM courses were very helpful as well, but I learned the most by “doing”.