The #1 Secret to Being a Winner

financial freedom

The #1 Secret to Being a Winner by Robert Kiyosaki – Daily Reckoning

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.

But I have met a lot of poor people who have never lost a dime—investing, that is.

The fear of losing money is real.

Everyone has it. Even the rich.

But it’s not the fear that is the problem. It’s how you handle fear. It’s how you handle losing. The primary difference between a rich person and a poor person is how they manage that fear.

It’s okay to be fearful. It’s okay to be a coward when it comes to money. You can still be rich. We’re all heroes at something and cowards at something else.

My rich dad understood phobias about money.

“Some people are terrified of snakes. Some people are terrified about losing money. Both are phobias,” he would say.

So, his solution to the phobia of losing money was this: “If you hate risk and worry, start early.”

If you start young, it’s easier to be rich.

But what if you don’t have much time left or would like to retire early? How do you handle the fear of losing money?

My poor dad did nothing. He simply avoided the issue, refusing to discuss the subject.

My rich dad, on the other hand, recommended that I think like a Texan. “I like Texas and Texans,” he used to say. “In Texas, everything is bigger. When Texans win, they win big. And when they lose, it’s spectacular.”

“They like losing?” I asked.

“That’s not what I’m saying. Nobody likes losing. Show me a happy loser, and I’ll show you a loser,” said rich dad. “It’s a Texan’s attitude toward risk, reward, and failure I’m talking about. It’s how they handle life. They live it big.”

Rich dad went on, “What I like best is the Texas attitude. They’re proud when they win, and they brag when they lose. Texans have a saying, ‘If you’re going to go broke, go big.’ You don’t want to admit you went broke over a duplex.”

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

“People are so afraid of losing that they lose.”

Fran Tarkenton, a once-great NFL quarterback, says it still another way: “Winning means being unafraid to lose.”

In my own life, I’ve noticed that winning usually follows losing.

I’ve never met a golfer who has never lost a golf ball. I’ve never met people who have fallen in love who have never had their heart broken.

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