Page 60 - Midas Touch

recommend people diversify their investment portfolio rather than focus
on high-performance assets. This is why many investor portfolios fail to
deliver high returns or are wiped out in a market crash. Again, they lack
focus.

Fact: Life Isn’t Easy
Another reason why many people fail to succeed is because they focus on
an erroneous belief that life is easy. Because of that, they always choose
the easy road. They follow the advice that is easy, and they focus on small,
easy goals. So they stay small. My rich dad often said, “Successful people

focus on goals that are bigger than themselves. A person who has a $10
focus will next focus on $100. When they have $100, they then focus on
$1,000. Focusing on bigger goals creates bigger people.”

However, rich dad also warned against becoming a foolish dreamer. By
this he meant that many people set foolish goals, goals that are far bigger
than they are. I’m talking about people who have no sense of money at all
and they dream of becoming a millionaire. No knowledge, no plan, but

somehow it will miraculously happen. Rich dad said, “Dreams without
education, plans, mentors, and actions create delusional people, also
known as dreamers.”

When I lost everything in my first business, my focus was on paying back
the nearly $1 million that I owed investors. I focused on the smallest
investors first, paid them back, then the next bigger investor, and so on.
Those were the first few steps in our plan. It took years to climb out of that

hole, but it was worth the trip because we grew smarter as we paid off
bigger investors. From that, Kim and I created an audio CD and workbook,
How We Got Out of Bad Debt, for those who want to follow our formula.

When Kim and I got married in 1986, we did not focus on becoming
millionaires. While we had our dream of becoming millionaires, we
focused first on $100 a month cash flow from investments. Once we had
that, we focused on $1,000 a month, then $10,000, and so on. Those first

few goals may sound small, the opposite of what I’ve been talking about.
But when you are underwater by almost a million dollars, coming out with
$100 positive every month was a very big goal for us.