Mikael Rieck is the author of more than hundred articles on topics of how to make money both online and offline. He has been online since 1999 and has always had a passion for money making opportunities and teaching others how to make a profit.What You Don’t Know About Money Will Hurt You
To be able to retire early you will need to put yourself in a situation where you will not have to worry about money to pay the bills. Retiring will as a definition mean that you are no longer working a job. In order to still have money coming in you will need to have other sources to work for you.
I see making money as a craft in the same way as it is a craft to be a carpenter or an electrician. In order to be very successful at it you will not only need to study continually but you will also need to practice (and preferably teach) the skill set every day.
What Are You Doing To Learn About Money?
Since you are reading this post (and this blog) I assume you have an interest in making more money for yourself. If that is the case my question to you is “what are you doing to learn more about money”?
If learning about money and becoming rich in order to be able to retire early is what it takes to improve your skills, then it is important that you are actually doing something that will help you do so.
What I have found is that in order to learn more about money and how to make more of them, you will need to learn it from people that are already mastering those skills.
Who Not To Learn From
If we can agree this far that:
- Money skills are important to become wealthy and retire early
- You’ll actively need to do something to gain more money knowledge
- Learning about money must come from people mastering the skills
Then there are some people that we can definitely stop listening to (when it comes to money issues).
They are our (not wealthy) friends, colleagues and family members. They will definitely want to share a ton of information with you about what is right and wrong but if they are not wealthy themselves do not listen to what they say.
Next is your bank account manager or similar financial advisers. If he/she is working a 9-5 job in the bank then they do not know about money and how to become wealthy. Sure they have the formal education but they REALLY don’t know which they prove by what they do (still working the job).
Finally there is the media. Should you listen to a reporter that tells you about what is right and wrong about money? Definitely not! Again this person does not even have the financial education that he banker or financial adviser did but has a skill set of writing. That is why he/she is a writer. If you want to learn how to be a reporter then you can go talk to them. But in terms of learning about money don’t listen to them (this applies to most financial programs in television too).
Who Can Teach You About Money?
I’ve already mentioned it but just to make it clear you should find people to learn from that has already done (and is currently doing) what it is that you want to do. Since we’re trying to learn about money and how to make more of them so that we can retire early we need to find people that master those skills.
Now you don’t just walk up to millionaires and billionaires and ask them to teach you all that they know. But the good thing is that you don’t have to!
There are so many rich people that have written books and created audios about the topic of money, so you don’t even have to leave your home to get the information. How cool is that??
To help you get started I would like to recommend a free resource about the topic of money that has been a true eye opener to me and I think that it will be to you too.
It is an online ebook that is written in real time, which means that it is not even finished yet (at the time of writing). It might be removed at some point (and converted into a book you’ll have to pay for) so be sure to go get it now!
It is called Conspiracy of the Rich and all you need to do is enter your name and email. Don’t miss out on this opportunity.
Further Reading I Recommend
If you feel that your knowledge about money is lacking then I would recommend that you start out by reading the following books. They have helped me a great deal and have opened my eyes to a lot of concepts, beliefs and ideas that I had NEVER thought about. I’m sure they can do the same for you:
Rich Dad, Poor Dad
Cashflow Quadrant
To Your Success,
Mikael
9 Responses so far
Nicolas Prudhon@SEO Help
June 29th, 2009
12:52 am
Hi Mikael,
I really like your recommendation not to listen to the banker, it’s so true!
When I was working in Thailand, the investment fund manager of my bank was asking me for investment advices and opportunities!
Now, if you consider this for a second, since I’m the one telling and teaching the bank what to invest in, why would I ever want to have those people manage my money for me?
I will add another type of person you should not listen to either, it’s all the people with who you share your dreams and they say that you can’t do it! Avoid those like plague!
.-= Nicolas Prudhon@SEO Help´s last blog ..Day 16: 21DSM – Internal Links Structure =-.
Mikael
June 29th, 2009
3:50 am
One thing that I would have to give your banker is that at least he was wise enough to ask for advice from someone that knew more than he did.
It reminds me of the Warren Buffet saying that “Wall Street is the only place that people drive to in a Rolls Royce to get investing advice from someone taking the subway to work”
Nicolas Prudhon@SEO Help
June 29th, 2009
4:00 am
Excellent one, very funny and very true indeed!
.-= Nicolas Prudhon@SEO Help´s last blog ..On-Site Duplicate Content Issues =-.
Manshu
June 29th, 2009
4:59 pm
I like Rich Dad Poor Dad and Cashflow Quadrant. Rest of his books were rehash of the things he has already stated.
Mikael
June 29th, 2009
5:18 pm
Hi Manshu, I’ll admit that he tends to repeat himself but in his defence I think that it is actually a good thing that he does it. I’ll bet a small fortune that 99.9999% of the people that have read the first 2 books are still not changing much (if anything) in how they think about money and business and unless you actually DO I believe that you don’t really KNOW.
Now some will argue that they didn’t change because they didn’t agree with him but if that is so then I don’t get why they spend the extra time to read more of his books
For me personally it is a change of the way I’ve learned to think and that is not something that will change over night and even though it might be slightly annoying to read the same things over and over I have decided to welcome it as a reminder of what it is that I am trying to learn and do.
The Gooroo @ Finance Advisory Stop
July 11th, 2009
4:38 am
Very well said. Knowledge is the key to success. I never got to finishing Rich Dad, Poor Dad (I’m not a big fan of reading), but I did like the parts I did read. On the other hand, through experimenting over the years, I have come to learn that I seem to change my ways best when I experience things first hand. Reading doesn’t seem to cut it for me. Then again, we all have different styles.
.-= The Gooroo @ Finance Advisory Stop´s last blog ..What Keeps You Blogging? =-.
Tom@TomSolarHome
September 28th, 2009
3:40 pm
Can’t agree more. The same applies when applying for a mortgage or investing your money. Don’t come with a state of mind “I have no idea about money, I’ll let the “experts” take care of my money”. Educate yourself so you can take care of your own money!
Tom
Kurt@Penny Stock Pick
March 11th, 2010
4:07 am
One thing to be frank, those millionaires or billionaires won’t even help you in real until unless you know them personally or got some referral, it’s natural they’re so busy with their own work that they don’t get time lol so yes buying their products would be a good idea.
As you’ve said that to retire early we need to look for other sources of income from our job but my view is that, in the current time one has to ask, if I want to retire early, what’ll be my plans? To just get more sleep or enjoy life (these days enjoying takes lots of money too like vacations etc), one also has to ask whether they’ve got more than enough money because you never know when you need it…you’ve got to be self-sufficient and plan yourself for next 10-20 years because our lives are getting longer and we’re getting better access to health care now than ever so it’s important to realize what one should do, yes switching your source of income is a great idea like opening up your own small business etc which’ll keep the flow coming.
What do you think Mikael?
The book seems already out on Amazon now, I’ll check it out.
Mikael
March 11th, 2010
9:48 am
I agree completely Kurt. Planning ahead and making a study out of life is vital in my opinion. Without it you will risk ending up like the majority of people (which is not always a pleasant situation).
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