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s。'' Just remember the Alamo。
Reason No。 2。 Overing cynicism。 〃The sky is falling。 The sky is falling。〃 Most of us know the story of 〃Chicken Little；〃 who ran around warning the barnyard of impending doom。 We all know people who are that way。 But we all have a 〃Chicken Little〃 inside each of us。
And as I stated earlier； the cynic is really a little chicken。 We all get a little chicken when fear and doubt cloud our thoughts。
All of us have doubts。 〃I'm not smart。〃 〃I'm not good enough。〃 〃So ' and so is better than me。〃 Or our doubts often paralyze us。 We play the。 ｜ 〃What if？〃 game。 〃What if the economy crashes right after I invest？〃 Or 〃What if I lose control and I can't pay the money back？〃 〃What if things don't go as I planned？〃 Or we have friends or loved ones who will remind us of our shortings regardless of whether we ask。 They often say； 〃What makes you think you can do that？〃 Or 〃If it's such a good idea； how e someone else hasn't done it？〃 Or 〃That will never work。 You don't know what you're talking about。〃 These words of doubt often get so loud that we fail to act。 A horrible feeling builds in our stomach。 Sometimes we can't sleep。 We fail to move forward。 So we stay with what is safe and opportunities pass us by。 We watch life passing by as we sit immobilized with a cold knot in our body。 We have all felt this at one time in our lives； some more than others。
Peter Lynch of Fidelity Magellan mutual fund fame refers to warnings about the sky falling as 〃noise；〃 and we all hear it。
〃Noise〃 is either created inside our heads or es from outside。 Often from friends； family； co…workers and the media。 Lynch recalls the time during the 1950s when the threat of nuclear war was so prevalent in the news that people began building fallout shelters and storing food and water。 If they had invested that money wisely in the market； instead of building a fallout shelter； they'd probably be financially independent today。
When the riots broke out in Los Angeles a few years ago； gun sales went up all over the country。 A person dies from rare hamburger meat in Washington State and the Arizona Health Department orders restaurants to have all beef cooked well…done。 A drug pany runs a national TV mercial showing people catching the flu。 The ad runs in February。 Colds go up as well as sales of their cold medicine。
Most people are poor because when it es to investing； the world is filled with Chicken Littles running around yelling； 〃The sky is falling。 The sky is falling。〃 And Chicken Littles are effective because everyone of us is a little chicken。 It often takes great courage to not let rumors and talk of doom and gloom affect your doubts and fears。
In 1992； a friend named Richard came from Boston to visit my wife and me in Phoenix。 He was impressed with what we had done through stocks and real estate。 The prices of real estate in Phoenix were depressed。 We spent two days with him showing him what we thought were excellent opportunities for cash flow and capital appreciation。
My wife and I are not real estate agents。 We are strictly investors。 After identifying a unit in a resort munity； we called an agent who sold it to him that afternoon。 The price was a mere 42；000 for a two…bedroom townhome。 Similar units were going for 65；000。 He had found a bargain。 Excited； he bought it and returned to Boston。
Two weeks later； the agent called to say that our friend had backed out。 I called immediately to find out why。 All he said was that he talked to his neighbor； and his neighbor told him it was a bad deal。 He was paying too much。
I asked Richard if his neighbor was an investor。 Richard said 〃no。〃 When I asked why he listened to him； Richard got defensive and simply said he wanted to keep looking。
The real estate market in Phoenix turned； and by 1994； that little unit was renting for 1；000 a month…2；500 in the peak winter months。 The unit was worth 95；000 in 1995。 All Richard had to put down was 5；000 and he would have had a start at getting out of the rat race。 Today； he still has done nothing。 And the bargains in Phoenix are still here； you just have to look a lot harder。
Richard's backing out did not surprise me。 It's called 〃buyer's remorse；〃 and it affects all of us。 It's those doubts that get us。 The little 1 chicken won； and a chance at freedom was lost。
In another example； I hold a small portion of my assets in tax lien certificates instead of CDs。 I earn 16 percent per year on my money； which certainly beats the 5 percent the bank offers。 The certificates are secured by real estate and enforced by state law； which is also better than most banks。 The formula they're bought on makes them safe。 They just lack liquidity。 So I look at them as 2 to 7…year CDs。 Almost every time I tell someone； especially if they have money in CDs； that I hold my money this way； they will tell me it's risky。 They tell me why I should not do it。 When I ask them where they get their information； they say from a friend or an investment magazine。 They've never done it； and they're telling someone who's doing it why they shouldn't。 The lowest I yield I look for is 16 percent； but people who are filled with doubt are willing to accept 5 percent。 Doubt is expensive。
My point is that it's those doubts and cynicism that keep most people？ poor and playing it safe。 The real world is simply waiting for you to get rich。 Only a person's doubts keep them poor。 As I said； getting out of the rat race is technically easy。 It doesn't take much education； but those doubts are cripplers for most people。
〃Cynics never win；〃 said rich dad。 〃Unchecked doubt and fear creates i a cynic。 Cynics criticize； and winners analyze〃 was another of his favorite sayings。 Rich dad explained that criticism blinded while analysis opened …《 eyes。 Analysis allowed winners to see that critics were blind； and to see opportunities that everyone else missed。 And finding what people miss is ｜ key to any success。
Real estate is a powerful investment tool for anyone seeking financial independence or freedom。 It is a unique investment tool。 Yet； every time I mention real estate as a vehicle； I often hear； 〃I don't want to fix toilets。〃 That's what Peter Lynch calls 〃noise。〃 That's what my rich dad would say is the cynic talking。 Someone who criticizes and does not
analyze。 Someone who lets their doubts and fears close their mind instead of open their eyes。〃
So when someone says； 〃I don't want to fix toilets；〃 I want to fire back； 〃What makes you think I want to？〃 They're saying a toilet is more important than what they want。 I talk about freedom from the rat race； and they focus on toilets。 That is the thought pattern that keeps most people poor。 They criticize instead of analyze。
〃 'I don't wants' hold the key to your success；〃 rich dad would say。
Because I； too； do not want to fix toilets； I shop hard for a property manager who does fix toilets。 And by finding a great property manager who runs houses or apartments； well； my cash flow goes up。 But more importantly a great property manager allows me to buy a lot more real estate since I don't have to fix toilets。 A great property manager is key to success in real estate。 Finding a good manager is more important to me than the real estate。 A great property manager often hears of great deals before real estate agents do； which makes them even more valuable。
That is what rich dad meant by 〃 'I don't wants' hold the key to your success。〃 Because I do not want to fix toilets either； I figured out how to buy more real estate and expedite my getting out of the rat race。 The people who continue to say 〃I don't want to fix toilets〃 often deny themselves the use of this powerful investment vehicle。 Toilets are more important than their freedom。
In the stock market； I often hear people say； 〃I don't want to lose money。〃 Well； what makes them think I or anyone else likes losing money？ They don't make money because they chose to not lose money。 Instead of analyzing； they close their minds to another powerful investment vehicle； the stock market。
In December 1996；1 was riding with a friend past our neighborhood gas station。 He looked up and saw that the price of oil was going up。 My friend is a worry wart or a 〃Chicken Little。〃 To him； the sky is always going to fall； and it usually does； on him。
When we got home； he showed me all the stats as to why the price of oil was going to go up over the next few years。 Statistics I had never seen before； even though I already owned a substantial share block of an existing oil pany。 With that information； I immediately began looking for and found a new undervalued oil pany that was about to find some oil deposits。 My broker was excited about this new pany； and I bought 15；000 shares for 65 cents per share。
In February 1997； this same friend and I drove by the same gas station； and sure enough； the price per gallon had gone up nearly 15 percent。 Again； the 〃Chicken Little〃 worried and plained。 I smiled because in January 1997； that little oil pany hit oil and those 15；000 shares went up to more than 3 per share since he had first given me the tip。 And the price of gas will continue to go up if what my friend says is true。
Instead of analyzing； their little chicken closes their mind。 If most people understood how a 〃stop〃 worked in stock…market investing； there would be more people …investing to win instead of investing not to lose。 A 〃stop〃 is simply a puter mand that sells your stock automatically if the price begins to drop； helping to minimize your losses and maximize some gains。 It's a great tool for those who are terrified of losing。
So whenever I hear people focusing on their 〃I don't wants；〃 rather than what they do want； I know the 〃noise〃 in their head must be loud。 Chicken Little has taken over their brain and is yelling； 〃The sky is falling and toilets are breaking。〃 So they avoid their 〃don't wants；〃 but they pay a huge price。 They may never get what they want in life。
Rich dad gave me a way of looking at Chicken Little。 〃Just do what Colonel Sanders did。〃 At the age of 66； he lost his business and began to live on his Social Security check。 It wasn't enough。 He went around； the country selling his recipe for fried chicken。 He was turned down 1；009 times before someone said 〃yes。〃 And he went on to bee a
multimillionaire at an age when most people are quitting。 〃He was a brave and tenacious man；〃 rich dad said of Harlan Sanders。
So when you're in doubt and feeling a little afraid； just do what Col。 Sanders did to his little chicken。 He fried it。
Reason No。 3。 Laziness。 Busy people are often the most lazy。 We have all heard stories of a businessman who works hard to earn money。 He works hard to be a good provider for his wife and children。 He spends long hours at the office and brings work home on weekends。 One day he es home to an empty house。 His wife has left with the kids。 He knew he and his wife had problems； but rather than work to make the relationship strong； he stayed busy at work。 Dismayed； his performance at work slips and he loses his job。
Today； I often meet people who are too busy to take care of their wealth。 And there are people too busy to take care of their health。 The cause is the same。 They're busy； and they stay busy as a way of avoiding something they do not want to face。 Nobody has to tell them。 Deep down they know。 In fact； if you remind them； they often respond with anger or irritation。
If they aren't busy at work or with the kids； they're often busy watching TV； fishing； playing golf or shopping。 Yet； deep down they know they are avoiding something important。 That's the most mon form of laziness。 Laziness by staying busy。
So what is the cure for laziness？ The answer is a little greed。
For many of us； we were raised thinking of greed or desire as bad。 〃Greedy people are bad people；〃 my mom use to say。 Yet； we all have inside of us this yearning to have nice things； new things or exciting things。 So to keep that emotion of desire under control； often parents found ways of suppressing that desire with guilt。
〃You only think about yourself。 Don't you know you have brothers and sisters？〃 was one of my mom's favorites。 Or 〃You want me to buy you what？〃 was a favorite of my dad。 〃Do you think we're made of money？ Do you think money grows on trees？ We're not rich people； you know。〃
It wasn't so much the words but the angry guilt…trip that went with the words that got to me。
Or the reverse guilt…trip was the 〃I'm sacrificing my life to buy this for you。 I'm buying this for you because I never had this advantage when I was a kid。〃 I have a neighbor who is stone broke； but can't park his car in his garage。 The garage is filled with toys for his kids。 Those spoiled brats get everything they ask for。 〃I don't want them to know the feeling of want〃 are his everyday words。 He has nothing set aside for their college or his retirement； but his kids have every toy ever made。 He recently got a new credit card in the mail and took his kids to visit Las Vegas。 〃I'm doing it for the kids；〃 he said with great sacrifice。
Rich dad forbade the words 〃I can't afford it。〃
In my real home； that's all I heard。 Instead； rich dad required his children to say； 〃How can I afford it？〃 His reasoning； the words 〃I can't afford it〃 shut down your brain。 It didn't have to think anymore。 〃How can I