The trick to online investing or any money making venture for that matter, is the way you think about money. It's all in the attitude...
A great money making idea is to change the way you think about money.
The reason rich people have money is because they think like rich people. I know that seems like a simplistic view of how to get rich but it's the truth.
In his book, Rich Dad's Guide to Investing, Robert Kiyosaki states that his rich dad told him, "People who suddenly become rich - by things such as inheritance, a big jackpot from Las Vegas, or the lottery - suddenly become poor again because psychologically, all they know is a world of not enough money."
That is a profound statement. I always thought the reason lottery winners went broke was because they just spent too much money.
If you can't handle not enough money, you sure won't be able to handle too much money...
You see, there are really only two kinds of money problems - not enough money, and too much money.
Which problem would you rather have?...
People who are poor look at their money situation like this, they say, "I don't have the money for this", "That's too expensive", "I can't afford it".
Rich people on the other hand, look at money in a completely different light. Instead of thinking or saying, "I can't afford it", they say, "How can I afford it."
One of Kiyosaki's struggles with money was shaking the idea that the world was a world of not enough money. You can't change your outside reality of money - how wealthy you are - until you change your inside reality of money - how you think about money.
Even though Kiyosaki doesn't cover online investing that much in Rich Dad's Guide to Investing, he gives you a comprehensive guide to investing with the right attitude. Much of what the average person considers investing is really nothing more than gambling including online investing.
Whether it's real estate, online investing such as day trading, or precious metals most people have a buy, hold, and pray strategy. They buy an investment, hold it for a given amount of time, and pray that the price increases.
Kiyosaki is not impressed when people tell him they made a killing from a single online investing deal, or real estate investment. Investing is not a product, deal, or a quick money making idea, it is a plan.
Kiyosaki talks about the 90/10 rule of investing and wealth. Ten percent of the investors make ninety percent of the money. And ten percent of the people control ninety percent of the money.
I don't remember where I heard this qoute but it has been said if all the money in the world were taken away from the rich and evenly distributed to every person, in 20 years all the same rich people would have the money again.
Again, that's because they don't have the same attitude towards money that poor people do.
Most people who have a job and live from paycheck to paycheck think that investing is risky. Rich people think that working a job and relying on a pension for retirement is risky.
Instead of working for money, people that are accumulating wealth have money work for them. They also don't spend large amounts of money on liabilities or merchandise that depreciates in value.
Many people who appear to be rich such as movie stars, rock stars, sports figures, or even your next door neighbor with the fancy cars and big house, are not really rich. They might have the trappings of success but they owe more money than they make.
The only criticism of Rich Dad's Guide to Investing I have is that I wish he would have talked a little more about starting small businesses as opposed to very large businesses. It's a little hard for most of us to start at the levels he discusses.
However, if you want to find out more about how and what the rich invest in, how they think about money, and how you can begin to change your attitude about money and move closer to wealth Robert Kiyosaki's Rich Dad's Guide to Investing is an invaluable resource as is all the info from RichDad.com.
It will change your life...
