{"id":1091980,"date":"2018-12-29T16:00:45","date_gmt":"2018-12-29T16:00:45","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=105946"},"modified":"2018-12-29T16:00:45","modified_gmt":"2018-12-29T16:00:45","slug":"the-1-secret-to-being-a-winner","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1091980","title":{"rendered":"The #1 Secret to Being a Winner"},"content":{"rendered":"

This post The #1 Secret to Being a Winner<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

I have never met anyone who likes losing money. And in all my years, I have never met a rich person who has never lost money.<\/p>\n

But I have met a lot of poor people who have never lost a dime\u2014investing, that is.<\/p>\n

The fear of losing money is real.<\/p>\n

Everyone has it. Even the rich.<\/p>\n

But it\u2019s not the fear that is the problem. It\u2019s how you handle fear. It\u2019s how you handle losing. The primary difference between a rich person and a poor person is how they manage that fear.<\/p>\n

It\u2019s okay to be fearful. It\u2019s okay to be a coward when it comes to money. You can still be rich. We\u2019re all heroes at something and cowards at something else.<\/p>\n

My rich dad understood phobias about money.<\/p>\n

\u201cSome people are terrified of snakes. Some people are terrified about losing money. Both are phobias,\u201d he would say.<\/p>\n

So, his solution to the phobia of losing money was this: \u201cIf you hate risk and worry, start early.\u201d<\/p>\n

If you start young, it\u2019s easier to be rich.<\/p>\n

But what if you don\u2019t have much time left or would like to retire early? How do you handle the fear of losing money?<\/p>\n

My poor dad did nothing. He simply avoided the issue, refusing to discuss the subject.<\/p>\n

My rich dad, on the other hand, recommended that I think like a Texan. \u201cI like Texas and Texans,\u201d he used to say. \u201cIn Texas, everything is bigger. When Texans win, they win big. And when they lose, it\u2019s spectacular.\u201d<\/p>\n

\u201cThey like losing?\u201d I asked.<\/p>\n

\u201cThat\u2019s not what I\u2019m saying. Nobody likes losing. Show me a happy loser, and I\u2019ll show you a loser,\u201d said rich dad. \u201cIt\u2019s a Texan\u2019s attitude toward risk, reward, and failure I\u2019m talking about. It\u2019s how they handle life. They live it big.\u201d<\/p>\n

Rich dad went on, \u201cWhat I like best is the Texas attitude. They\u2019re proud when they win, and they brag when they lose. Texans have a saying, \u2018If you\u2019re going to go broke, go big.\u2019 You don\u2019t want to admit you went broke over a duplex.\u201d<\/p>\n

He constantly told Mike and me that the greatest reason for lack of financial success was because most people played it too safe.<\/p>\n

\u201cPeople are so afraid of losing that they lose.\u201d<\/p>\n

Fran Tarkenton, a once-great NFL quarterback, says it still another way: \u201cWinning means being unafraid to lose.\u201d<\/p>\n

In my own life, I\u2019ve noticed that winning usually follows losing.<\/p>\n

I\u2019ve never met a golfer who has never lost a golf ball. I\u2019ve never met people who have fallen in love who have never had their heart broken.<\/p>\n

For most people, the reason they don\u2019t win financially is because the pain of losing money is far greater than the joy of being rich.<\/p>\n

Rich dad used to tell Mike and me stories about his trips to Texas. \u201cIf you really want to learn the attitude of how to handle risk, losing, and failure, go to San Antonio and visit the Alamo.<\/p>\n

\u201cThe Alamo is a great story of brave people who chose to fight, knowing there was no hope of success. They chose to die instead of surrendering. They got their butts kicked. So how do Texans handle failure? They still shout, \u2018Remember the Alamo!\u2019\u201d<\/p>\n

Mike and I heard this story a lot.<\/p>\n

He always told us this story when he was about to go into a big deal, and he was nervous.<\/p>\n

It gave him strength; it reminded him that he could always turn a financial loss into a financial win.<\/p>\n

Rich dad knew that failure would only make him stronger and smarter.<\/p>\n

It gave him the courage to cross the line when others backed out. \u201cThat\u2019s why I like Texans so much,\u201d he would say. \u201cThey took a great failure and turned it into inspiration\u2026.\u201d<\/p>\n

But probably his words that mean the most to me today are these:<\/p>\n

\u201cTexans don\u2019t bury their failures. They get inspired by them. They take their failures and turn them into rallying cries. Failure inspires Texans to become winners. But that formula is not just the formula for Texans. It is the formula for all winners.\u201d<\/p>\n

Failure inspires winners. And failure defeats losers.<\/p>\n

It is the biggest secret of winners. It\u2019s the secret that losers do not know.<\/p>\n

There is a big difference between hating losing and being afraid to lose.<\/p>\n

Most people are so afraid of losing money that they cannot help but lose. They go broke over a duplex.<\/p>\n

Financially, they play life too safe and too small.<\/p>\n

The main reason that over 90% of the American public struggles financially is because they play not to lose<\/em>. They don\u2019t play to win.<\/em><\/p>\n

They go to their financial planners or accountants or stockbrokers and buy a balanced portfolio.<\/p>\n

Most have lots of cash in CDs, low-yield bonds, mutual funds that can be traded within a mutual-fund family, and a few individual stocks. It is a safe and sensible portfolio.<\/p>\n

But it is not a winning portfolio. It is a portfolio of someone playing not to lose.<\/p>\n

Don\u2019t get me wrong. It\u2019s probably a better portfolio than more than 70 percent of the population has, and that\u2019s frightening.<\/p>\n

It\u2019s a great portfolio for someone who loves safety.<\/p>\n

But playing it safe and balanced on your investment portfolio is not the way successful investors play the game.<\/p>\n

The concept of winning and our desire to win in all areas of our lives were themes of the 2016 U.S. Presidential election.<\/p>\n

It\u2019s a mindset, a goal to which we can all aspire, and that motivates us to embrace our mistakes, learn from them, and keep our sights focused on winning.<\/p>\n

It\u2019s something President Trump understands, something rich investors understand\u2026<\/p>\n

And now it needs to be something you not only understand, but act on.<\/p>\n

Regards,<\/p>\n

\"Robert<\/p>\n

Robert Kiyosaki
\nEditor, Rich Dad Poor Dad Daily<\/em><\/p>\n

The post The #1 Secret to Being a Winner<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This post The #1 Secret to Being a Winner<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

The fear of losing money is real. Everyone has it. Even the rich. But it’s not the fear that is the problem…. <\/p>\n

The post The #1 Secret to Being a Winner<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[366,842,843,844,456,845],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091980"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1091980"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091980\/revisions"}],"predecessor-version":[{"id":1091981,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1091980\/revisions\/1091981"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1091980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1091980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1091980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}