In 2006, I read a book that changed my perspective of financial independence, the book was Rich Dad Poor Dad by Robert Kiyosaki. I believe many of you have read this book before, but only a few had put in practice of the author preached in the book.
The book has been criticized for having almost no concrete advice and too many anecdotal lessons. In my case, it worked out pretty good because I put his ideas into practice; like “make your money work for you instead of work for the money”. It changed my life.
Two days ago, I attended an event promoted by Rich Dad Company, which pretty much talked about how to build wealth through the stock market. The presentation was pretty good, they even gave me a USB flash drive with some of their promotional material, but it didn’t convince me to take their training, even though it was a lot more affordable than the other similar training programs and It allows you to bring a guest for free.
A short description of the training from their website:
We’ll give you the opportunity to learn what the market pros know and use everyday to make money in the stock market – no matter which way prices are headed!
You’ll learn specific techniques that can help you predict the direction of a specific stock, an industry in general or the market as a whole including:
* Fundamental Stock Analysis
* Charting
* Identifying The Best Entry Point
* Reducing Risks
* Protecting Your Trades With Stops And Exits
* Options
* Market Scanning
* And So Much More!
But on my way home, I started to analyze how this would really help my financial growth. The top points of the presentation were to teach you how to trade in a better - safer - smarter way, even if you’re a first time buyer. At one point, he explained how to trade stocks during a one year period and make 16% profit a year. It was good, actually pretty good in comparison to 4% that banks pays for a regular CD. Therefore I invested my money back home (Brazil) with a profit rate of 12.68% per year with NO RISK of losing my money if the market goes down.
At this point my conclusion is: why I’d spend money in a training that will teach me how to trade better - safer - smarter, spend at least one hour a day in front of my computer analyzing the charts and most important of all risk my money when I already make money without hustle?