Many successful people have left school without receiving a college degree. People such as Thomas Edison, founder of General Electric; Henry Ford, founder of Ford Motors o.; Bill Gates founder of Microsoft, Ted Turner, founder of CNN; Michael Dell, founder of Dell Computers; Steve Jobs, founder of Apple Computers; Ralph Lauren founder of Polo. A College education in important for traditional professions, but not for how these people found great wealth. They developed their own successful businesses …

Some words…

The fear of losing money seems to divide investors into 4 broad

  1. people who are risk-adverse and do nothing but play it safe, keeping their money in the bank
  2. people who turn the job of investing over to someone else, such as the financial advisor or the mutual fund manager
  3. gamblers
  4. investors

Because so many people on the left side of the quadrant come looking for security, the stock market responds in kind. That is why you often hear the following words:

  1. Diversification
  2. Blue Chip Stocks
  3. Mutual Funds

7 levels of investors:

When the fear of losing money comes up, most people’s minds automatically start chanting…

People born into poverty, becoming wealthy…

  1. They maintained a long term vision and plan
  2. They believed in delayed gratification
  3. They used the power of compounding to their advantage

It’s time to mind your own business… > It begins innocently enough with words of advice such as these…

  1. Go to school, get good grades so you can find a safe secure job with good pay and excellent benefits
  2. Work hard so you can buy the home of your dreams…. Home is after all the most important investment
  3. Having a large mortgage is good because the government gives you a tax deduction
  4. Buy now, pay later

People who blindly follow these words of advice often become

  1. Employees making their bosses rich
  2. Debtors making the banks rich
  3. Taxpayers making the government rich
  4. Consumers making other businesses rich