11th December 2019
A long time ago, I was told, “there is a distinct difference between the rich and poor, it is all in the mind”.
“What was the distinction?” I asked humbly.
“The RICH parent’s mindset wants their children to learn to run business”.
“The POOR parent’s mindset wants their children to study hard get a good job”.
This were the words, spoken by a property tycoon in Malaysia, whom I was honoured to have met, he has since passed away.
He, did not have any education, but he hired a bunch of degrees, master degrees, Phd’s working for him who are also there to teach his children while he was running the business.
What I was shared is, the RICH mindset has to learn to be very flexible and focused on the outcome while balancing the cashflow to maintain the company over heads, but the POOR mindset is very ‘risk averse’, they need the ‘certainty of monthly income’ and hence they are not suited to running a business.
He trains his children to be ‘flexible thinkers’ who can ‘cashflow balance’ the business while thinking of the group of employees’ monthly salaries to motivate them to keep growing and caring.
I ask him what else he can teach me, a young person back then.
“PROPERTIES, when you have money, borrow and buy LOTS of properties”!
Properties always appreciates, an employee will never be able to make enough to actually own a property throughout their live time, if they don’t buy a property. When they are young, they should work hard to own properties then they can live a life of their choosing when they are old, like him!
Always appreciate the wisdom of anyone older than myself, for they are the best teachers to learn from, they have gone through the downs and came out on top.
Property is always an excellent investment for our future and our children’s future. Have a great day, everyday!
Licence Real Estate Agent | Stock and Station Agent| Auctioneer | Strata Manager
Oracodes Realty Pty Ltd
Licence Real Estate Agent in NSW.