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The rule #1 in “our ebook "The 10 Ne Rules Of Money” is, “We work to build and acquire passive income and make money work hard for us” What is the difference between money vs. currency?

We can say that they rich do not work for fake money or simply they do not work for earned income with comes from a job. We work for passive income. To understand the modification, you must take a brief history lesson.

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As a young man on my second tour of duty in the Vietnam War in 1972, I got a letter from my rich dad that read, “President Nixon took the dollar off the gold standard. Watch out, the world is about to change.”

I didn’t quite know what rich dad meant at the time, but I was intrigued. I read “The Wall Street Journal” to search for answers. One article that caught my attention was on gold. The price was fluctuating from $35 an ounce to $40 to $60 an ounce.

Thinking we were smart, a fellow pilot named Ted and I flew from our carrier across 25 miles of sea into enemy territory. We hoped to find a gold dealer and get a good deal.

We tried to negotiate with an old woman in a small village, our opening bid was $40 an ounce. Little did we know, spot was $55. The tiny woman we were bargaining with just smirked and was probably thinking, The two of you are idiots. Don’t you know that the spot price of gold is the same all over the world?

Thankfully we got out of there without any detection by the enemy, but we certainly didn’t get a deal on gold. Most important, we did get a lesson on real money.

In 1971 President Richard Nixon changed the rules of money. That year, the U.S. dollar ceased being money and became a currency. This was one of the most important changes in modern history, but few people understand why.

Prior to 1971, the U.S. dollar was real money linked to gold and silver, which is why the U.S. dollar was known as a silver certificate. After 1971, the U.S. dollar became a Federal Reserve Note—an IOU from the U.S. government. Instead of our dollar being an asset, it was turned into a liability. Today, the U.S. is the largest debtor nation in history due in part to this change.

Taking a brief look back at the history of modern money, it's easy to understand why the 1971 change was so important.

After World War I, Germany's monetary system collapsed. While there were many reasons for this, one was because the German government was allowed to print money at will. The flood of money that resulted caused uncontrolled inflation. There were more marks, but they bought less and less. In 1913, a pair of shoes cost 13 marks. By 1923, that same pair of shoes was 32 trillion marks!

As inflation increased, the savings of the middle class was wiped out. With their savings gone, the middle class demanded new leadership. Adolf Hitler was elected Chancellor of Germany in 1933 and, as we know, World War II and the murder of millions of Jews followed. 

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We often view those who have achieved success as being gifted with extraordinary powers or luck that we ourselves don't possess. If you find your thoughts traveling along this line of thinking. Don't let life discourage you; everyone who got where he or she is had to begin where he or she was. Why the path to financial freedom requires taking action?

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1- How to Build Cash-Flow With The Internet?  Turn Passive Income

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Everyone starts out with challenges - even the successful people. Overcoming those challenges and reaching one's goals despite the odds stacked against them, is what propels some people to success. For those who buy into the excuses about why they can't achieve something, their thoughts become a self-fulfilling prophecy.

When it comes to investing, some of the common challenges women and men face are:

You may identify with some of the challenges listed above, or have your own unique challenges. Instead of focusing on why your circumstances make it impossible to focus on investing, ask yourself how you can invest despite your challenging circumstances.

You’ll find that the very first step is to quit making excuses.

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What Is TheFoundation Of Wealth?The  key  to  financial success  is  understanding  our  personal  financial statement. This is perhaps the most important question you can ask and answer. For most people, being rich means making a lot of money. They think that if they can just make a little more each month, all their problems will be fixed.They will live like kings and queens. Financial   literacy   begins   by   understanding   our   personal   financial statement.The reality is that money doesn’t make us rich. What does make us rich is our financial IQ. Give the same $100,000 to a person with a low financial IQ and a person with a high financial IQ, and we guarantee to see a vast difference in how that money is spent and grown.Central to the difference between those with low and high financial IQs is a simple but profound literacy: the ability to understand a financial statement.One  of  the  most  important  things  you  need  in  order  to  be  financially successful is to know how to read an income statement and balance sheet.But even more important is understanding the relationship between them. We can see that in the Master Investor personal financial statement, which we canuse anddownloadat https://bit.ly/masterinvestorfreefinancialstatement. Many people who take accounting classes learn how to read an income statement and balance sheet separately. 

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Before I dive into the four ways you can profit from real estate, I want to quickly touch on the difference between direct cash flow and phantom income, because real estate provides both types of income. What is cash flow and phantom cash flow?

Cash flow is money that flows directly into your pockets on a regular basis. This can be monthly, quarter, annually, etc., but it is realized income that is passive in nature. By passive income, I mean income that you do not have to work for. It comes automatically because your asset itself creates the income. This is one of the lowest taxed incomes, and extremely powerful for building wealth.

Phantom income is a new concept to many new investors, but it is a powerful way to build wealth. Phantom income is not direct cash flow, but it is "savings" that come to you through tax savings, time savings, etc., as well as the potential gains you might have in the future. I’ll explain more because in real estate there is one profit center that is cash flow based and three that are phantom income based.

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