《富爸爸穷爸爸》第50章

d　asked　them　if　they　were　ready　to　buy　also。　We　then　went　to　different　dealers　and　negotiated　a　great　deal　because　we　wanted　to　buy　so　many。　I　have　done　the　same　with　stocks。　Small　people　remain　small　because　they　think　small；　act　alone；　or　don"t　act　all。
？Learn　from　history。　All　the　big　panies　on　the　stock　exchange　started　out　as　small　panies。 Colonel　Sanders　did　not　get　rich　until　after　he　lost　everything　in　his　60s。 Bill　Gates　was　one　of　the　richest　men　in　the　world　before　he　was　30。
？Action　always　beats　inaction。
These　are　just　a　few　of　the　things　I　have　done　and　continue　to　do　to　recognize　opportunities。　The　important　words　being　〃done〃　and　〃do〃。　As　repeated　many　times　throughout　the　book；　you　must　take　action　before　you　can　receive　the　financial　rewards。　Act　now！
EPILOGUE
How　To　Pay　for　a　Child"s　College　Education　for　7000
As　the　book　draws　to　a　close　and　approaches　publication；　I　would　like　to　share　a　final　thought　with　you。　The　main　reason　I　wrote　this　book　was　to　share　insights　into　how　increased　financial　intelligence　can　be　used　to　solve　many　of　life"s　mon　problems。　Without　financial　training；　we　all　too　often　use　the　standard　formulas　to　get　through　life；　such　as　to　work　hard；　save；　borrow　and　pay　excessive　taxes。　Today　we　need　better　information。
I　use　the　following　story　as　a　final　example　of　a　financial　problem　that　confronts　many　young　families　today。　How　do　you　afford　a　good　education　for　your　children　and　provide　for　your　own　retirement？　It　is　an　example　of　using　financial　intelligence　instead　of　hard　work　to　achieve　the　same　goal。
A　friend　of　mine　was　griping　one　day　about　how　hard　it　was　to　save　money　for　his　four　children"s　college　education。　He　was　putting　300　away　in　a　mutual　fund　each　month　and　had　so　far　accumulated　about　12；000。 He　estimated　he　needed　400；000　to　get　four　children　through　college。　He　had　12　years　to　save　for　it；　since　his　oldest　child　was　then　6　years　of　age。
The　year　was　1991；　and　the　real　estate　market　in　Phoenix　was　terrible。　People　were　giving　houses　away。　I　suggested　to　my　classmate　that　he　buy　a　house　with　some　of　the　money　in　his　mutual　fund。　The　idea　intrigued　him　and　we　began　to　discuss　the　possibility。　His　primary　concern　was　that　he　did　not　have　the　credit　with　the　bank　to　buy　another　house；　since　he　was　so　overextended。　I　assured　him　that　there　were　other　ways　to　finance　a　property　other　than　through　the　bank。
We　looked　for　a　house　for　two　weeks；　a　house　that　would　fit　all　the　criteria　we　were　looking　for。　There　were　a　lot　to　choose　from；　so　the　shopping　was　kind　of　fun。　Finally；　we　found　a　3　bedroom　2　bath　home　in　a　prime　neighborhood。　The　owner　had　been　downsized　and　needed　to　sell　that　day　because　he　and　his　family　were　moving　to　California　where　another　job　waited。
He　wanted　102；000；　but　we　offered　only　79；000。　He　took　it　immediately。　The　home　had　on　it　what　is　called　a　nonqualifying　loan；　which　means　even　a　bum　without　a　job　could　buy　it　without　a　banker"s　approval。　The　owner　owed　72；000　so　all　my　friend　had　to　e　up　with　was　7；000；　the　difference　in　price　between　what　was　owed　and　what　it　sold　for。　As　soon　as　the　owner　moved；　my　friend　put　the　house　up　for　rent。　After　all　expenses　were　paid；　including　the　mortgage；　he　put　about　125　in　his　pocket　each　month。
His　plan　was　to　keep　the　house　for　12　years　and　let　the　mortgage　get　paid　down　faster；　by　applying　the　extra　125　to　the　principle　each　month。　We　figured　that　in　12　years；　a　large　portion　of　the　mortgage　would　be　paid　off　and　he　could　possibly　be　clearing　800　a　month　by　the　time　his　first　child　went　to　college。　He　could　also　sell　the　house　if　it　had　appreciated　in　value。
In　1994；　the　real　estate　market　suddenly　changed　in　Phoenix　and　he　was　offered　156；000　for　the　same　house　by　the　tenant　who　lived　in　it　and　loved　it。　Again；　he　asked　me　what　I　thought；　and　I　naturally　said　sell；　on　a　1031　taxdeferred　exchange。
Suddenly；　he　had　nearly　80；000　to　operate　with。　I　called　another　friend　in　Austin；　Texas　who　then　moved　this　tax　deferred　money　into　a　ministorage　facility。　Within　three　months；　he　began　receiving　checks　for　a　little　less　than　a　1；000　a　month　in　ine　which　he　then　poured　back　into　the　college　mutual　fund　that　was　now　building　much　faster。　In　1996；　the　miniwarehouse　sold　and　he　received　a　check　for　nearly　330；000　as　proceeds　from　the　sale　which　was　again　rolled　into　a　new　project　that　would　now　throw　off　over　3；000　a　month　in　ine；　again；　going　into　the　college　mutual　fund。　He　is　now　very　confident　that　his　goal　of　400；000　will　be　met　easily；　and　it　only　took　7；000　to　start　and　a　little　financial　intelligence。　His　children　will　be　able　to　afford　the　education　that　they　want　and　he　will　then　use　the　underlying　asset；　wrapped　in　his　C　Corporation；　to　pay　for　his　retirement。 As　a　result　of　this　successful　investment　strategy　he　will　be　able　to　retire　early。
Thank　you　for　reading　this　book。　I　hope　it　has　provided　some　insights　into　utilizing　the　power　of　money　to　work　for　you。　Today；　we　need　greater　financial　intelligence　to　simply　survive。　The　idea　that　it　takes　money　to　make　money　is　the　thinking　of　financially　unsophisticated　people。　It　does　not　mean　that　they"re　not　intelligent。　They　have　simply　not　learned　the　science　of　making　money。
Money　is　only　an　idea。 If　you　want　more　money　simply　change　your　thinking。　Every　selfmade　person　started　small　with　an　idea；　then　turned　it　into　something　big。　The　same　applies　with　investing。　It　takes　only　a　few　dollars　to　start　and　grow　it　into　something　big。　I　meet　so　many　people　who　spend　their　lives　chasing　the　big　deal；　or　trying　to　mass　a　lot　of　money　to　get　into　a　big　deal；　but　to　me　that　is　foolish。　Too　often　I　have　seen　unsophisticated　investors　put　their　large　nest　egg　into　one　deal　and　lose　most　of　it　rapidly。　They　may　have　been　good　workers　but　they　were　not　good　investors。
Education　and　wisdom　about　money　are　important。 Start　early。　Buy　a　book。　Go　to　a　seminar。　Practice。 Start　small。 I　turned　5；000　cash　into　a　1　million　dollar　asset　producing　5；000　a　month　cash　flow　in　less　than　six　years。　But　I　started　learning　as　a　kid。　I　encourage　you　to　learn　because　it"s　not　that　hard。　In　fact；　it"s　kind　of　easy　once　you