Learning How to Unlearn and Re-Learn about Your Finances

(Two not-so-broke girls after a 3-day Rich Dad Poor Dad seminar, Disclaimers apply.)

Another path in the future

"A book can never change your life unless you start within."

It was a no-brainer to attend a seminar about financial education and real estate investment (duh!). You had some time off and you got to have a close pal along with you to learn new stuffs. Cool. Doing one (or three days for this case) about money and real estate is not scary enough for 30-somethings with no financial background whatsoever. This is not a form of review and is purely written out of the gratitude we felt in learning about finance management.

So with as much as smart business casual outfit we can put together, we went to brave the 3-day seminar mentored by Mike “Pip” Stehlik who pretty looked like an awesome (but crazy, he told us himself) American about Canadian real estate and a bit of facts about money. Awkward small talks happened between complete strangers and at 9 am all of the lectures, discussions, and sarcastic humor went on. We had a class of about 17-20 people in a big Scotiabank Convention Center function room and it felt close-knitted enough to be able to know most of the class’ names. It was also a good thing that we had to switch sitting arrangements more (terrifying) than it was. Snicker right here. And yes, we did appreciate the (attempts on) stand-up comedy, Pip. Not to mention the Cash Flow game is an awesome tool to learn about good and bad investments.

And besides those points and the obvious repertoire between mentor and each student, we had actually been mind-blown about the “stuffs” we learned. These are only tips of the icebergs ladies and gentlemen but we are hoping it can inspire you to be curious enough to find out more (just like we were) and in a way paying it forward to somebody out there who might need options. 

You have to feel comfortable about being in debt.
We were taught to avoid death like a plague. But being in good debt that earns you positive cash flow can be a good thing. You have to learn to borrow money to invest in real estate, business, or even paper money. If you do not learn creative financing then you have no jumping point in launching you way to financial freedom.

Do not pay off your house mortgages and (sigh) get as many credit cards as you can.
Most financial planners and acquired financial common sense (that I found out are usually in the Industrial Revolution and no longer in the Information Age) would say pay off your house mortgages and do not think about your home equity line credit (HELC). Also, pay off your credit card billing statement and do not attempt to up your credit limit by any chance. Rethink and ponder. If you pay off your mortgages, your house becomes a liability and you cannot take out your HELC to use it to acquire other investment. Same goes with your credit cards too – they are the cheapest form of money you can afford and can use to dabble in say real estate.

 Being rich will cost you – a lot.
If you earn big money, you have to lose some big money and time. And if that is further advanced education on finance management and courses, personally we would not mind (financially, well it is a different stories for now). If you can work with mentors to guide you with your next steps to earn your first significant deals, what is there to fear? And if a mentor, like Pip, would help you in any way he can (he is a great guy) I’d say the price is worth paying for to be around people who can teach you to earn and keep money. And this is no rich quick scheme. The method of actually executing what you learn and building your wealth will take time and effort on your part. Everything is simple but not all of it will be easy.

Real estate is not an alien word to the average Joes and Janes – you can actually be part of it!
We often think of real estate only for people who can in the first place, afford one piece of property in the least. This is a common notion and we were fooled by it before. The five basic necessities to any human being are food, water, oxygen, clothing, and shelter. I repeat shelter. So at the end of the day, we all have someplace to rest and we call it usually a home – and home is real estate whether owned, rented, or leased. So no matter how much or so little you know about real estate – you are already involved as a real estate investor in a way.

But after hearing the possible ways you can creatively finance your way to have leverage in the industry, you can actually do it! And believe it or not, scam or not, you can actually do this by using other people’s money or with no money no credit on the line. Sounds crazy? Well, we were taught by one crazy American but we know some legit stuff now that years in schooling would not – being street smart about having, using, and keeping money.

Find solutions and the money will come.
People who are involved in real estate are judged to be unscrupulous individuals who are out to get money out of other people. But if you work your way in real estate with integrity and all legal means, you can actually help other people in their real estate problems in the long run. You will be the solutions provider and you will creatively find a solution to their real estate dilemmas so you can have a win-win situation for everybody involved. Your actual goal is to make everyone happy in the end. And always ask "how" instead of "I can't" is where it all boils down into.

How the big boys play the money game.
Corporations are there thriving in the finance industry and now we know why. The rich are there because they think differently about how to use money and fair laws in acquiring, managing, operating, and securing their companies. And so, if the rich people can actually thrive using the three-tiers of business, why can’t your future enterprise? Before we did not know how the corporate world functions and why the billionaires we know operate their empires – but with the pointers we were given, we can say we got it big boys and these girls have been given some nice wisdom nuggets.

 Always know your big WHY.

The ‘why’ part of you being financially educated is a big factor in keeping you in the path to your own financial freedom. It is your motivation to push yourself out of your ego and engage in the possibilities of improving your financial life.

Pip said with the contrarian methods that RDPD presents to the world, it can encourage people to discourage you to not try this at all or have cold feet in the commitment to putting this into practice. And sadly, the people that can discourage you are the people who tell you they love and support you. But be reminded that it is in human nature that people who love you can rob you in pursuing your dreams unknowingly because they are afraid of you being better than them and the changes that might happen if you actually not fail. So be ready to have negativity around your efforts. This is the road less traveled and you have to keep your sight on the bigger picture and keep your own positivity even if your cheering squad is not helping at all. 

So yeah, it was 3 days well spent from our part amidst the snow storms and social awkwardness. We have actually inspired ourselves to find a way to put the stuffs we learn here into practice and get the further education in our long term goals. Who knows where we will be sitting next? And before we left, unable to commit to the costly educational program as of now, we left Pip (and great team Tammy & Baz) telling him we will seek him out when we reach the top at the time when we make it BIG!

And yes, we have got a lot of side books from RDPD to read and adapt. It is a gradual unlearning and re-learning but we have to start somewhere. This is going to be a team consistent effort and we are hoping we can make it work in the next couple of years. So booyah for the initial step! Now, where do we put our purple library? (wink)

Celebrate Success...Celebrate You!

Photo credit - Link

Success is perceived differently between males and females. When a successful career woman comes to view, most people would wonder what she might be lacking of - and turns her negative points into big deals. They won't be looking at how big her achievement is or won't just go into details about why she became an achiever. Sadly, most people would likely observe her snappy wits coming across as offense or her no-sorry attitude in taking more of her work means she has no social life or refuses to become a domesticated wife. 

Compare this notion of success when a male comes into view. Most people would look at what he has achieved and ignores or instantly forgives his shortcomings. Society excuses males of their erring behavior just because they achieved something. Successful men who cheat on their wives are deemed normal or part of life. Successful men who lack time for their family are forgiven because they carry the burden of being achievers. 

Something is off balance here.  This has been the fault of society's dogma for women to be casted as the nurturers instead of achievers. Nurturers tend to tune out their own worth instead of celebrating their achievements because their go-getter attitude comes in conflict with their caring side. But we have to break away on the whole dogma and we also consider the other side of the line.

Males who tend to be nurturers are deemed failure for being un-achievers. In this changing times, males who tend to stay at home to help out their wives that might probably be working are perceived weak or lack initiative to take on the role of provider. In uncertain economies, role reversals are only expected and should be taken by both genders as a situation both should adapt together.

Maybe if we individuals start to truly acknowledge that sex role reversals are possible in this modern world without the pre-conceived notions of dogma and society - we can make both successes from both species more of a celebration than a condemnation. When we based success as a non-gender situation, then we can truly embrace ourselves as individuals. Measure of success would drastically change - it is not about being a good mother, a good provider - it would become more of your little achievements as you.  

Success is about being and having a well-balanced life. It is about acknowledging your own baby steps in achieving something far more greater than dogma yardsticks - becoming you truer self by engaging into something you truly love doing. People who are both successful and happy  are the people who went ahead and did their own thing.

So maybe starting with that you want to do is the first milestone to your success. You can be inspired by someone else's success but remember you can never own it. We all have our own struggles and thus we are entitled to our own sucess and celebrations.

So don't compare yourself to other people. We are all born unique - and logically speaking - we can only achieve our own success and no one else's standards or dogma can make it of lesser importance or worth. Do not be sorry if you think you have not lived up to anyone's standards - you should be celebrating.

Celebrate success and thereby do not hesitate to celebrate you!