Some points of what the rich tell their kids regarding wealth building:

Rich have rich thoughts:

• One great asset of the rich is that they think differently from everyone else.
• People who trained their minds to see money had tremendous power over people who did not. If money is not first in your head, it will not stick to your hands.
• Money does not stay with people who do not trust themselves.
• Success is a poor teacher, we learn the most about ourselves when we fail. Failing is part of the process of success.
• To be successful, you need to learn to overcome your fear of being rejected and stop worrying about what other people will say about you.
• Be careful of the advice you take. While you must keep your mind open. Always be aware from where the advice is coming from.
• The only difference between a rich person and poor person is what they do in their spare time.
• Develop the thought pattern of thinking only in assets and income in the form of capital gains, dividends, rental income, residual income.

How poor become rich?

• The people born in poverty became rich as they posses the following qualities:

1. They maintain a long term vision and plan.
2. They believe in delayed gratification.
3. They used the power of compounding to their advantage.

• Delayed graritification, minding your own business, building your asset coloumn first would help you avoid the dissapointments you get in the process of getting rich.
• The size of your success is measured by the strenght of your desire; the size of your dream; and how you handle dissapointments along the way.
• Have great big long term dreams and wishes. But when it comes to setting goals, be an underachiever. This gives a feeling of underwhelmed. So dream big daring dreams and then underachieve a little each day.
• If you want to acquire great wealth quickly, take on great financial problems.
• All it takes to bring out your natural God-given gifts is your desire, determination and a deep faith that you have a genius and a gift that is unique.
• Your profit will be made when you buy and not when you sell.

Technical business advice:

• The main reason so many people struggle financially is not because they lack a good education or are not hard working. It's because they're afraid of losing. The fear of losing stops them.
• Money is seen with mind and not with eyes.
• To run business successfully you need financial intelligence, system intelligence and emotional intelligence.
• The people who understand the power of financial numbers have power over those who do not.
• Financial intelligence is the ability to convert cash or labour into assets that provide cashflow.
• In business you must know the facts and not opinions. Numbers tell you the facts. It's the actual financial numbers of the transactions that ultimately tell you the facts.

Success for Investor:

• To be successful as an investor or a business owner you have to be emotionally neutral to winning or losing. Winning and losing are just part of the game.
• Inside of every problem lies an opportunity and opportunities are what real investors are after.
• If you are a master of solving business problems, you will have excess cashflow and your knowledge of business will make you a much smarter investor.
• A big secret is that true investors make more money in bad market.

Leadership is not optional to become rich:

• To be successful in business you need leadership and technical business skills.
• If you want to be a leader of people then you need to be a master of words. To be great leaders, we first have to be great listeners.
• Leadership is the ability to bring out best in people.

Everything about good and bad debt:

• A good debt was debt that someone else paid for you and bad debt that you paid for with your own sweat and blood.
• Rental properties are assets as the bank gives the loan but the tenants pay for it.
• The golden rule of personal finance:- "Pay yourself first."
• Individuals who worked hard, were chronically in debt and lived beyond their means were poor role models for kids. They had given into temptation and greed.
• Many financial problems came from the desire to possess items that had little value.
• The more people you are indebted yo the poorer you are and the more people you have indebted to you, the wealthier you are.
• If you take on debt personally, make sure it's small. If you take on large debt make sure someone else is paying for it.
• If you take on debt and risk you should be paid.

What are "assets" and "liabilities":

• Anything which makes cashflow into your pockets is an asset and anything which makes cash flow out of your pocket is a liability.
• For every liability you have, you are somebody else's asset.
• Focus should always be on passive income and spending time acquiring the assets that provide passive or long term residual income.
• Dissappointment can be your asset. The reason there are few self-made rich people is because few people can tolerate dissapointment so expect disappointment in the positive sense.

Risks make riches!

• If you want to get rich quickly, you need to learn how to take risks. Learn to be an investor.
• People who take risks change the world. Few people ever get rich without taking risks.
• Financial freedom has a price which is measured in dreams, desire and the ability to overcome dissapointments that occur to all of us along the way.

So in the end:

Getting rich is not so much how much money you make, but how much money you keep, how hard the money works for you and how many generations you keep it for!