PHOTO: EDDIE GARCIA
My experience in working with wealthy Latino men has allowed me to see that there are certain knowledge, abilities, skills, and habits (K.A.S.H.) that they tend to share. There are also certain principles that I have found that they tend to equally share among them. I call these the 4 laws of great wealth.
K.A.S.H. RULES
The
First Law: Always Tell The Truth. Easier said than done. The truth
in this case are facts: cold hard facts. In the case of your personal
finances, you need to ask yourself, What is really going on? Take a look
at your results, like how much money you have actually saved. What does
your debt situation really look like? Do you even have a clue how investments
actually work? My experience in working with most people is that they
never take an honest look at themselves financially.
Most
of the time you make yourself believe your own lies so much that you forget
what the truth is. Here are some lies I hear all the time:
“Things
are going to get better.”
“I
know that I am not putting enough money in my retirement plan, but I will
soon.”
“Sure
I know what my investments did last year, the statement is here somewhere.”
“I
will start investing as soon as I…”
Give
me a frigin’ break. If you want to achieve some level of financial
success, stop all your bullshitting and for once stop and be honest with
yourself.
The
Second Law: Become Aware of What is Keeping you from Great Wealth.
Dr. Phil once said, “You can’t change what you don’t acknowledge.”
You see, most of us are sleepwalking. We go through our day totally unaware
of all the things we are doing to sabotage our success. It’s a shame
that we sometimes don’t even have a clue why we are not achieving
the results we want from life. It’s ironic that our best friends
can sometimes pinpoint our faults and know what we would need to change
to be successful. We all have a blind spot. I guarantee you that you could
easily tell me why some of your friends aren’t successful. What about
you? Why haven’t you achieved your dreams yet? The problem is that
most of us don’t like to receive any kind of criticism. You see,
your best friend will always tell you the truth. And sometimes when we
hear it, it pisses us off.
Also,
if you are not aware of your limiting financial beliefs then you will
never achieve great wealth. If you want to learn more about limiting Latino
financial beliefs, buy my book bonehead.
The
Third Law: Take Personal Responsibility. Stop pointing fingers at
everyone and be a man. In a previous article, I wrote that successful
guys no son llorones. Crybabies don’t make money. Get over yourself.
It’s not your mom’s, girlfriend’s, tia’s, or anyone’s
fault that you are not successful. It’s definitely not the pinche
cucuy’s fault either. To find out whose fault it is, look within
buddy. They say that if you don’t go within, you go without. All
wealthy men have been go-getters. So get going!
The Fourth Law: Be Courageous. All of us have some level of fear, but financially successful men have the courage to do things in spite of their fear. When I talk about courage, I mean taking some form of risk. Not stupid, a lo pendejo risk, but educated risk. To make money you need to invest. Keeping your money in a savings account is good for your emergency reserves, but anything beyond that is unwise. You need to work your money so that one day it will work for you. Trust me, you are not going to get rich putting money in a savings account or underneath your mattress. Make the time to learn about investing (take personal responsibility) and take the first step by opening an investment account. Financial greatness is not for wimps!
OPEN YOUR EYES
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