Education, Experience , Excess Cash

The concept I left you with prior to this blog post was the Three E's : Education, Experience , Excess Cash. I would like to further your knowledge on why these three E's are extremely essential in your journey towards becomming rich, in the exact order they are placed in.  We will start with :

Education : In life education is the key. Whether we would like to become great at something, or we would just like to further our knowledge about a subject , we do this by educating ourselves. "A Man willing to learn his whole life, will be the richest man."(Kiyosaki, 2013) Lets think of this logically, if you as a person are willing to never stop learning throughout the course of your life, do you believe that education can simply make you rich? No. It is how you use this education that will determine your success, this is where Experience  comes in.

Experience: Now that you have based yourself with all the education needed to start your journey, well you must now put it to use. The easiest way to grasp the 3 E's is to put it in terms of your educational map. For all those who have went, plan to go or who are currently in post-secondary schooling, many of your programs may offer a co-op.  Think of the three E's in terms of your program, first you need the Education so you have chosen your program, and are willing to educated yourself through it. Now that you have accomplished your first year and have furthered your knowledge it is time for your Experience this would be your co-op. Your school has set you up for success by using the three E's whether they knew it or not. Finally, once your co-op is done, your schooling is up, you've gotten all the Education and Experience you need, you have now set yourself up for the process of creating Excess Cash.

Excess Cash : Now we look at excess cash in the view of an investor, because in order to become a rich investor you need to have your assets pay off eachother, while your income your Excess Cash is exactly what it needs to be Excess. This is the money that when it comes in you can throw down on a worth investment , one that may take some risk , so this excess cash is money that can be lost, and it wont be needed to recover, because you've already bought assests that now pay eachother off and accumulate an income, where your excess cash generates its own income on its own.

I have laid out the three basics to further someones life in becomming rich. Now it is said that there is a rule called the 90/10 . This rule states that for every 90 Citizens only 10 will become rich. Why is that? If everyone knows the basics on becomming rich, learns the three E's , lives by them, what makes someone move from that 90 to the 10 % of those who become rich? I would like to encourage some feedback, on what you believe seperates someone between the 90/10 rule.

Is your time and asset or a liability?

In earlier discussions we discussed the difference between and asset and liability. Today I would like to ask you : Is your time your most valuable asset, or is it your worst liability? Many would argue that time is a liability because you cannot gain more time, we are not promised time, so why would time be considered an asset, would it not be a liability? Time is determined on how you use it. To me time would be my most valuable asset, why? Time is not given to us, time gives me a dealine , time will give you the opportunity to set a goal and to do whatever it takes to accomplish that goal by your deadline. Time can be your most valuable asset, but your worst enemy. I touched upon the topic in my previous post that most people want to become rich, but almost none of them are willing to put the time and effort in , to succeed.

Let me ask you this, are you willing to put your time in to become rich and successful? Would you attend classes to further your education?

I want to leave you with the concept deprived from the book : Rich Dad's guide to Investing  by: Robert T. Kiyosaki, the Three E's To Success:

•    Education
•    Excess Cash
•    Experience
  I encourage readers to tell me what they believe these three E's have to do with success? What do you believe is the most valuble of the three?
  I will touch more about this concept in my later posting.