My short thoughts on business and passion

Okay, remember I’m a big House fan? I am. To the point where it might get a little… creepy.

I’ve watched so many episodes that I actually notice weird little details. Somewhere along Season 5, I had paused my GOM player to get some grapes to snack on. As I came back to the frozen frame, I had a lightbulb moment.

“Hey, look at all the stuff in that frame! There’s a cane, a desk, a computer, and Cameron’s making a regular unisex scrub look sexy!,” I thought while shamelessly stuffing my mouth with grapes. “Somebody made all that stuff. There’s a business behind each of those items!”

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The rich buy assets, the poor buy liabilities

The phrase “The rich buy assets, the poor buy liabilities” became famous with the book Rich Dad Poor Dad as it was one of the lessons Rich Dad allegedly taught to author Robert Kiyosaki. The book is a worldwide bestseller, but it’s been criticized on many of the points it advocates.

picture money can't buy happinessI’ve been thinking about that phrase – Rich buy assets, poor buy liabilites – I’ve been thinking about it quite a lot. Especially since our newlywed money and finance is not in a great shape. Is the secret key to getting rich that simple – just buy assets instead of liabilities?

It makes perfect sense to put your money into stuff that pays you back – like a rental property or a stock portfolio; investing is all about putting money into stuff that will help you make more money later. But us humans are so gullible! We have a hard time saying “no” to that seductive, shiny, brand new flat screen that is way cooler than the flat screen Peter bought last month (and made rounds at the office bragging to everyone about it). So we buy it and do a little Tarzan-style victory dance in front of Peter’s desk. Take that, Peter!

According to Kiyosaki, the rich invest their money by buying things called “assets” – things that put money in your pocket like rental properties or stock portfolios. The poorspend their money on things called “liabilities” – things that are basically money-pits and never put money in your pocket. Like that flat screen we were eager to rub in Peter’s face.

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Takes money to make money: The Formula for getting rich (the one that works)

top of the mountainThe Formula for getting rich is NOT about compound interest, internet business, multi-level marketing, FOREX trading, stock options, real estate, mutual funds or starting a business. Getting rich through saving and “the magic of compound interest” would take ages. Internet business is not for everyone. MLM (multi-level marketing) is a scam. FOREX trading is more about chance than about skill. Real estate requires a huge up-fron investment. And starting a business has less than 5% success rate.

Yet there are rich people in all those fields. There are real estate millionaires and guys who made fortunes off FOREX. But you can’t wrap your head around how they made it, exactly. Did someone help them? Or was it just the plain old “hard work and a little luck?”

Well, the truth is, it doesn’t matter which path you choose. All that matters is how prepared you are when you set foot on your path of choice. So actually, it doesn’t really matter whether you choose real estate or business or FOREX trading. All that matters is how you’ve lined up your pawns.

Here’s what I mean.

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5 Things Nobody Tells You About Being Poor

This AWESOME piece of writing is by John Cheese, originally publiched on

#5. You Get Charged for Using Your Own Money

McDonalds jobs…Let’s say you’re running late for work and hurriedly stop to get gas, paying with a bank card. In your haste you forget to write the $55 down (gas being $4 a gallon, you know). So while you spent the last week until payday thinking you had $50 in your account to absorb minor purchases, you actually were $5 in the red.

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Should I quit my job and start a business? (No)

dark early morningYou shouldn’t “should” anything.

After I googled “should I start a business,” it felt like the whole internet was trying to persuade me that indeed I should; that whatever job I had couldn’t possibly be better than running my own business, and that if I wasn’t working on a start-up already then obviously I had to “stop making excuses.”

My husband and I like the idea of having our own business one day. But currently, starting a business right now is not a good idea. We don’t have the money, and with a baby girl coming in Jan 2014, we’ll have a lot on our plate. We just recently got married (planned a wedding in three months which definitely soaked up all our energy during that time) and we’re still finishing up our apartment remodel. Don’t anyone dare tell me that we “should” be working on a startup or that if we’re not, we’re “making excuses.”

And what about you?

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Budgeting for bingo: Knowing when to stop whether you’re winning or losing

This is a guest post by Angela Stevens. Angela is retired at 61 but takes on the occasional freelance writing gig. She’s been getting herself some guilt-free fun each Thursday at the Bingo hall for the past 13 years, and loves to read up on the Bingo business.

It may be cheap entertainment, but it’s still important to keep an eye on your bingo spending

bingoForMoney Bingo has been enjoying a surge in popularity of late. Both brick-and-mortar halls and online bingo games are starting to play nice in their own respective niches. And the game is even starting to shed its “game for little old ladies” (giggle!) image thanks to bingo variants like Musical Bingo that are proving to be popular among the younger set.

As Bingo! The Documentary shows, there are people out there who want to live the bingo dream – that is, hitting a huge jackpot and becoming rich. Don’t we all? This applies to both the old school bingo hall regulars like myself and the younger foxybingo gamer generation. )

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Racism and business? Restaurant owner saved business by keeping blacks away

This is a story I found on . It’s so fascinating that I just had to share it with you guys.

Original link:

reddit_logoI’ll get it out of the way and admit that what I am doing is racist, I myself am (reluctantly!) a racist, and I’m not about to argue that. I’m not proud of this, but I did what I had to to stay afloat for the sake of my family and my employees and I would do it again.

I own a family restaurant that competes with large chains like Applebee’s, Chili’s, and other similarly awful places. I started this restaurant over 20 years ago, my wife is our manager*, both of my kids work here when they’re not in college. Our whole life is tied up in this place, and while it’s a ton of hard work, we love it.

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My husband and I want to start our own business… here’s why we can’t

just usMy husband and I want to start a business some day.

Right now, I work a nine-to-five. He works in shifts. Our time off doesn’t overlap a lot. We get a fairly decent pay and we make it work for now. But to be honest? At that rate, we’ll never be able to get ahead. We’ll be enslaved to our jobs for life.

We don’t have a problem with hard work. We know that startups take a lot of work – we each have had a failed try at starting a business – so we don’t mind working long hours. We’re doing it already at our jobs. But we think that having our own thing will let us work those long hours together and also pay more than a dayjob.

Is starting a business the only way to our goal of being together more? Let’s see.

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