Our Heroes: Elon Musk

Most of you probably don’t know who the heck is Elon Musk. He’s a billionaire who started a bunch of companies you may have already heard of though, companies like PayPal, sold for $1.5 bil to eBay, SpaceX, which received a $1.6 bil contract from NASA and Tesla Motors.

His current net worth is estimated to be somewhere near $328 mil but Elon Musk is not the type of super smart nerd who became billionaire and has a dull life like Bill Gates for example. What his companies do will probably amaze you: SpaceX, where he’s the CEO and CTO, develops and manufactures space launch vehicles.

On the other side, Tesla Motors where he’s the CEO is the electric car company with the zero-emissions car that anyone would actually WANT to drive. The Tesla Roadster is just as eye catching as any other sports car out there and if you add the fact that it’s electric and surprisingly powerful you just know everyone would want one.

Elon Musk is a visionary and you just know he has a dream life and he’s going to be even more successful in the future than it is today. He is likely to become one of the wealthiest men on the planet if he keeps doing what he does.

But this guy also has incredible taste in women and that’s another fact that makes him one of our heroes. He was married to a quite attractive chick and had a couple of children with her but now he’s engaged with a sweet British actress, Talulah Riley, who is probably the next British sensation.

Unfortunately for him his ex-wify, Justine Musk, is fighting the court battle to secure a few things that she feels entitled to after the divorce. What does Justine want? Not much, just the house, alimony and child support, $6 million in cash, 10 percent of Elon’s stock in Tesla, 5 percent of his stock in SpaceX (but he’ll keep all his voting rights), and throw in a Tesla Roadster as well. That’s a bit too much, right? I would just give her the money, support and a car and that’s it. Want more? You gotta work for it!

Richest People who did not complete their schooling

Richest people in world who didn’t complete college.Most of them give up with college,but that didn’t prevent them making companies and earning millions and billions of dollars

Most known failed student,Bill Gates,today is one of the richest people in world,and right after him is super successful Steve Jobs. Bill Gates is more that one decade one of the richest people in world. Son of lawyer and teacher,he enrolled in Harvard university in autumn 1973. year. Just 2 years later,he gave up from college and he founded "Microsoft" with his childhood friend Paull Allen. At Harvard Gates was named most successful person who gave up from studies. More than 30 years ago,in 2007,he finally got honorary doctorate on that university.

On list of most successful people, but unsuccessful students, right after Bill Gates is Steve Jobs.If he remained in school desk, probably today "Macintosh",Ipod,Iphone and Ipad would not exist.Steve jobs gave up with studies on Ridge university because of difficult financial situation.After that he founded companies "Apple", "Next Computer" and "Pixar".

At third place is Frank Lloyd Wright, most famous American architect, who spent more time on designing them then learning in them. He enrolled in University of Wisconsin-Madison in 1886. year, but he gave up after 1 year. He moved to Chicago, where he started to work with Louis Sullivan who is know as "father of modernism". After death he left more than 500 projects, including the museum of Solomon R. Guggenheim in New York.

Cash Flow

Over the years, I've been labeled as a real estate guy. This is only partially true. I'm a cash flow guy. And real estate happens to be a good strategy for building cash flow. Also, real estate is a good investment because of the tax advantages like depreciation and because of the ability to leverage other people's money. Certainly there are other ways to generate cash flow. For instance my business generates cash flow every month. Each time I write a book, cash flow comes in the form of royalties. And when my investments in oil wells pay off, I enjoy dividends from the sale of oil

Security

It is as if we ask a bird in a cage to fly into the open sky and it says that it is so secure in its cage,
whereas the freedom of the sky will create so many problems for it. If you make a change, problems
are bound to arise. And so far as the caged bird is concerned, its difficulties will be enormous,
because it has no experience of flying in the vast sky. Yet a choice has to be made.

Opportunity

Opportunity is missed by most people because it is

dressed in overalls and looks like work

Best Business

One of my favorite sayings: The two best businesses
in the world are buying whiskey by the bottle and
selling it by the shot, and buying land by the acre
and selling it by the lot.

Money

Money is the medium by which earthly success
is measured.

Money makes possible the enjoyment of the
best the earth affords.


Money is plentiful for those who understand
the simple laws which govern its acquisition.

Money is governed today by the same laws
which controlled it when prosperous men

thronged the streets of Babylon, six thousand
years ago.

Fear of Loosing Money

Reason No. 1. Overcoming the fear of losing money. I have never met anyone who really
likes losing money. And in all my years, I have never met a rich person who has never lost money.
But I have met a lot of poor people who have never lost a dime. . .investing, that is.

The most expensive expense

The most exorbitant expense you make is the money which you don’t earn.

Borrowing is easier than saving

IT IS EASIER TO BORROW 100 MN DOLLARS THAN SAVING 100 MN DOLLARS

Rule 2 : Choose to be Rich Daily

The power of choice

Most people choose not to be rich. For 90 percent of the population, being rich is "too much of a hassle." So they invent sayings that go, "I'm not interested in money." Or "I'll never be rich." Or "I don't have to worry, I'm still young." Or "When I make some money, then I'll think about my future." Or "My husband/wife handles the finances." The problem with those statements is they rob the person who chooses to think such thoughts of two things: one is time, which is your most precious asset, and two is learning. 

Just because you have no money, should not be an excuse to not learn. But that is a choice we all make daily, the choice of what we do with our time, our money and what we put in our heads. That is the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.

Rule 1

Rule 1 : I NEED A REASON GREATER THAN REALITY

The power of spirit. If you ask most people if they would like to be rich or financially free, they would say "yes." But then reality sets in. The road seems too long with too many hills to climb. It's easier to just work for money and hand the excess over to your broker. 

I once met a young woman who had dreams of swimming for the U.S Olympic team. The reality was, she had to get up every morning at 4 a.m. to swim for three hours before going to school. She did not party with her friends on Saturday night. She had to study and keep her grades up, just like everyone else

When I asked her what compelled her with such super-human ambition and sacrifice, she simply said, "I do it for myself and the people I love. It's love that gets me over the hurdles and
sacrifices."

A reason or a purpose is a combination of "wants" and "don't wants." When people ask me what my reason for wanting to be rich is, it is a combination of deep emotional "wants" and "don't
wants."

My List of Wants :

1) want to travel across the globe

2) Want a theatre to be in my home

3) I want to decide how i should spend my time not anyone else

4) I want to have freedom to do anything anytime, without taking permissions

5) Want to buy a yacht

6) Want to buy Mercedes Benz

My List of Don't Wants :

1) I don't want to ask someone when to leave

2) I don't want to be slave of someone

3) I don't want a boss

4) I don't want to travel in trains

5) I don't want third graded furniture

6) I don't want small house

7) I don't want to think about money first without considering what i want in life.

Those are my deep-seated, emotional reasons. What are yours? If they are not strong enough, then the reality of the road ahead may be greater than your reasons. 

I have lost money and been set back many times, but it was the deep emotional reasons that kept me standing up and going forward. I wanted to be free by age 40, but it took me until I was 4? with many learning experiences along the way.

As I said, I wish I could say it was easy. It wasn't, but it wasn't hard either. But without a strong reason or purpose, anything in life is hard

Wealth Ratio

Wealth Ratio = ( Passive Income + Portfolio Income)

                        --------------------------------------------

                                ( Total Expenditure)

Most people have wealth Ratio  = 0, Which means they will remain in Rat Race

You are rich and actually Living your Life only when your Wealth Ratio >1

For Fail Safe way of Increasing your Wealth Ratio, keep on reading this blog regularly

How to get property - Cheap

 Make offers. People who are not investors have no idea what it feels liketo be trying to sell something.I have had a piece of real estate that I wanted to sell for months.

I would have welcomed anything. I would not care how low the price.

They could have offered me ten pigs and I would have been happy. Not at the offer, but just because someone was interested. I
would have countered, maybe for a pig farm in exchange. But that's how the game works. 

The game of buying and selling is fun. Keep that in mind. It's fun and only a game. 

Make offers.

Someone might say "yes."

Finding a good deal, the right business, the right people, the right investors, or whatever is just like dating. You must go to the market and talk to a lot of people, make a lot of offers,
counteroffers, negotiate, reject and accept.

I know single people who sit at home and wait for the
phone to ring, but unless you're Cindy Crawford or Tom Cruise, I think you'd best go to the market,even if it's only the supermarket. Search, offer, reject, negotiate and accept are all parts of the
process of almost everything in life.

Study on Gold

• if we go back in the history, in the year 1976-81, gold had a dream bull run. From $100 per ounce in 1976, it had gone as high as $850 per ounce.  

 

•  That rise took place as people feared that US economy would collapse and $ would have no value. 

• That time, US was in war with Vietnam & then came Iranian Revolution – inflation in US was at very high levels and in a way, there was hyper-inflation.

Pessimist's side of the story :

Once the war was over and inflation eased out, Gold came crashing down. In the year 1990, it was $400 per ounce and in the year 2000, it was close to $250 per ounce. That means the effect of bubble was so big that even in 20 years, the gold could not recover its original price and was languishing at less than 1/3 of its peak price. So please don’t be surprised if you will be able to buy gold again at levels of Rs 10000-12000.

Gold was Rs.1450/- in the year 1980 and today it is Rs.18800/-. The rise of 13 times in last 30 years @ 9% p.a. But 5½ times of such rise is on account for Rupee depreciation in terms of dollar. So if we were to analyse the rise in gold price in relation to rupee alone without taking dollar factor, it is only 2.35 times. You see, even in terms of dollar, gold has risen only 1.5 times in last 30 years.

Why saving in bank is no longer a good idea

When you save money, the following happens :

1) Other people use your money as leverage and become rich.

2) Rate of Inflation is at war against you, and will definitely defeat you

3) Government earns in form of tax.

Conclusion : Saving Money is not a smart Idea 

 

Dont start business if...

If you are starting a business to make money, don't do it.
Chances are that you will fail, because there WILL be
hard times. And if your motivation is not something
beyond money, those hard times will test you. You will
quit and go back to your job. But if you are doing
something other than money, you will rough it through
the hard times.

Great thoughts by Kiyosaki

An asset = something that puts $$$ in your pocket whether you work or not 

With every $ that comes into your hand, you have a CHOICE. If you’re smart, you’ll buy an asset with that dollar

Only borrow money when you don’t need it

Just do it once. “How can I do it just once, for it to return money to me forever?” Creative multiple streams of passive income

 

Pay yourself FIRST. Every day put money aside to buy income-producing assets, before you pay bills, food, rent, ANYTHING

The rich buy assets first, so that they can eventually buy liabilities

The biggest challenge you have, is dealing with your self-doubt. Challenge your self-doubts

The goal is to GET OUT OF THE RAT RACE!” 

 

Fear keeps most people working at a job. The fear of not paying their bills, the fear of being fired, the fear of not having enough money. The fear of starting over. The fear of ‘what will people say 

That’s the price of studying to learn a profession and then working for money. Most people become a slave to money… and then get angry at their boss 

 

Most people work very hard, for little money, clinging to the illusion of job security, looking forward to 3-week vacation each year and a skimpy pension after 45 years of work. If that excites you, go for it. 

Most people can be bought – they have a price, because of human emotions called FEAR and GREED. First, the fear of being without money motivates us to work hard, and then once we get that paycheck, greed starts us thinking about all the wonderful things money can buy. The pattern is then set. They’re in the Rat Race

Every day they wake up with this fear gnawing at their soul. They rush off to work, hoping that a paycheck will kill the fear. Money is running their lives, and they refuse to tell the truth about it.” 

I often wondered why grown-ups hurried off to work. It never seemed like much fun and they never looked that happy, but something kept them hurrying off to work 

 

Once a dollar goes into it, it becomes your employee. The best thing about money is that it works 24 hours a day and can work for generations