學著像一個專家那樣投資

富爸爸 清崎 在網路上發表的文章,一個很重要的觀念,我花了些時間幫大家翻譯如下,這樣願意看下去的人會比較多吧?
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很多年前,當我剛展開我的房地產事業時,我曾經考慮過一個在歪基基海灘(夏威夷度假勝地)的公寓投資。
問題是這個投資每個月要花掉我美金三百元。

一個有意義的交換

當時,每月損失三百元對我是不小的數目,相當於現在的我每月損失三十萬元。當我把這個數目告訴富爸爸,他問到"妳幹嘛想要每月損失三百?"富爸爸的意思其實是,他想知道為何我需要付錢去投資。
“其實",我回答他:"仲介告訴我這個公寓會增值,這樣我就賺到了。"
富爸爸咯咯地笑並反問我:"像這樣一個月花妳三百塊的公寓投資案,妳負擔得起幾個?"
“可是它很快會增值啊,我趕快賣掉就好了…"
“也許妳是對的,不過妳還沒回答我的問題" “像這樣一個月花妳三百塊的公寓投資案,妳負擔得起幾個?"

那時候我每個月的稅後所得是兩千,而生活費是一千八,換言之我根本負擔不起一個月三百的額外支出,既使這房子很快就增值也一樣。
所以我膽怯地回答:"像這樣的投資案,我一個也負擔不起…."

富爸爸一面微笑一面繼續說:"記得我教過你的嗎?既使連傻瓜也知道投資要花錢,這並不需要任何財商。"

投資一個無望的未來

富爸爸這個教誨聽起來是很簡單,不過若妳再想想,就會發現每天有幾百萬的人將他們的血汗錢投資在沒啥回報的案件,這些投資案是在花他們的錢而非幫他們賺錢。

譬如,許多人將他們的薪水投入他們的401K(美國一種退休帳戶,主要以投資股市為主)中,希望未來有一天能藉此退休。另外一些人把錢放在更爛的地方,譬如銀行甚至床底下,獲取微薄甚至完全沒有的投資收益。他們都是付錢來投資,而不是由他們的投資賺錢給他們。

富爸爸當年想敲進我腦袋裡的那一課,也就是我現在想教你們的。投資,必須是每個月都讓我越來越有錢,而不是越來越窮。它必須每個月都把錢放進我口袋,而不是拿出我口袋。對富爸爸來說,金融界能說服這麼多投資新手,把這類型的的投資案當成聰明的投資案,還真是一項奇蹟。

他希望人們能夠更努力一點去尋找真的好投資,試著成為投資專家而不是投資新手。當他問我:"像這樣一個月花妳三百塊的投資案,妳負擔得起幾個?"他其實也是在問:"若是一個月幫妳賺三百塊的投資案,妳負擔得起幾個?"而這個答案相當明顯:"越多越好,多多益善。"

學習怎麼賺錢

如果這個想法讓妳覺得很困難,別焦急。就如我說的,富爸爸當年必須用"敲"的才能把這一課敲進我腦袋。妳無法想像我曾經拿過多少"偉大"的投資案去煩富爸爸,而這些投資案統統都是在花我的錢而不是幫我賺錢。既使現在富爸爸已經去世了,我似乎仍能聽到他在提醒我,提醒我做的每個交易,都必須幫我賺錢而非花錢。
好消息是,一旦妳聊解這一課而且開始尋找幫妳賺錢的投資,妳的生活將就此不同。就我的看法,能夠牢記這一點,正是富人和一般人幾個最大的差異之一。
沒有理解這一課的人,正好會落入金融界的圈套裡,他們努力地教育群眾 “投資明天" 或 “今天付點小錢,才能擁有光明的未來" 這類似是而非的想法。

如果妳有讀我的書,妳就會知道我的投資主要是希望獲得正向的現金流,而不是希望在未來能夠得到資本利得。大部分人投資是希望獲得資本利得,所以他們買股票、買基金、或者某類的房地產,並且希望買的東西能增值。然而,我只有偶而才會以資本利得為目標,我比較偏好現金流。

我已經聽到你們在心底抱怨,認為要買到能提供正向現金流的好投資案並不容易。沒錯,是很難,這就是大部分投資者會以資本利得為目標的原因。這也是為什麼那些金融業務們會賣給新手投資客"讓妳明天會富有"的產品,而不是"讓妳今天就富有"的投資案。

專家之所以是專家

我知道你們一定會問:"我到底上哪找這種今天就會讓我富有的案子?"我也知道,問這個問題讓人很有挫折感。
我能做的只是希望你不斷問自己相同的問題,而既使是我,現在也還是會這樣問自己。不過我會再多提醒自己一下:"分辨得出能夠為妳賺錢的投資,和能為妳花錢的投資,正是投資專家與新手的不同。"

這個道理在生意上一樣行得通。我一直懷疑為何那麼多人會覺得做生意一定要先花錢然後才能賺錢。(下一小段懶得翻,這是清崎在抱怨自己的生意)

真正值得的東西都不容易 

對於富爸爸教我的這一課,我常常拿 金 當例子。金 她的第一個投資案是一個兩房的公寓,而這個投資每個月只幫她賺進二十五塊錢而已。此後,為了要繼續找到能帶給她現金流的投資,她需要堅定不移地、很有紀律地、很努力地花時間去尋找。

不過,一旦她知道必須去找這種能賺錢的投資,她就進入一個很少人能達到的境界。努力至今,金 的投資案每個月都能幫她賺到數以千計的錢。

我並沒有說,找到這種從一開始就能幫妳賺錢的投資是一件容易的事。不過就像人們常說的,"如果容易,也輪不到妳來賺了"。我們也都知道,想找到那種必須先花錢甚至損失錢的投資是很輕易的,所以才會有那麼多人"投資未來"而不是"投資今天"了。

如果我的富爸爸還在,他也會建議你繼續找,努力找,然後把自己訓練得像一個專家那樣投資。
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Learn to Invest Like a Pro

Years ago, when I was just starting my real estate investing career, I considered a condominium in Waikiki as an investment.

The problem was that the investment would have cost me about $300 a month.

A Meaningful Exchange

Back then, a $300-a-month loss would’ve been the same for me as $300,000-a-month loss would be today. When I ran the numbers past my rich dad, he asked, “Why do you want to lose $300 a month?" In other words, my rich dad wanted to know why I wanted to pay money to invest.

“Well," I told him, “the real estate agent said the condo would go up in value and I would make a profit."

Rich dad chuckled and asked, “How many condos can you afford that cost you $300 a month?"

“But it will probably go up in value, and then I can get my money back when I sell it."

“You’re probably right," said rich dad, “but you didn’t answer my question. How many investments can you afford that cost you $300 a month?"

At the time, my net after-tax income was only about $2,000 a month, and my expenses were about $1,800 a month, so the reality was that I couldn’t afford even one condo that cost me $300 a month — even if it went up in price sometime in the future.

So my answer was a sheepish, “I can’t afford even one that loses me money."

With a smile on his face, rich dad said, “Remember what I’ve been teaching you. Any fool can lose money on an investment. That doesn’t take much financial intelligence."

Investing for a Bleak Future 

This advice may sound simple, but if you think about it, millions of investors invest their hard-earned money every day and receive little to nothing in return. In other words, their investment costs them money rather than makes them money.

For example, millions of workers put their money in 401(k) plans, hoping that someday in the future there will be enough in the account for them to retire on. And millions of people put a little money aside, either in a bank or under the mattress, and receive little to nothing in return. They all pay to invest rather than getting paid to invest.

The lesson my rich dad was drumming into my head, and I mean to drum into yours, is that investing should make me richer every month, not poorer. It should put money in my pocket every month, not take money out. To him, it was a miracle that so many financial services salespeople could convince financially naive people that it was smart to pay money to invest. 

He wanted people to learn to look harder for better investments — to be professional investors rather than naive investors. When he asked me, “How many investments can you afford that cost you $300 a month?" he was also asking, “How many investments can you afford that earn you $300 a month?" The obvious answer is, “As many as I can find."

Learn to Earn 

If this idea challenges you, don’t fret. As I said, my rich dad had to drum this idea into my head.

You have no idea how many times I came to him with great investments that cost me money rather than made me money. And even though he’s passed on, I can still hear him reminding me, with every deal I look at, that it should earn, not cost, money.

The good news is that once you understand this lesson and start finding investments that make money, your life is never the same. In my opinion, grasping this distinction is one of the biggest differences between the rich and everybody else.

Not getting this lesson sets people up to fall victim to sales pitches from financial services salespeople, who sell them on the idea that it’s smart to “invest for tomorrow" or “put a little bit away today for a brighter future." 

If you’ve read my books, you already know that I invest primarily for cash flow, not capital gains. Most people invest for capital gains, which is why they buy a stock, mutual fund, or piece of real estate and hope the price will go up. Not me. While I occasionally invest for capital gains, I prefer to invest for cash flow.

Now, I can hear some of you complaining that it is harder to find investments for cash flow, and that’s true. That’s why most investors invest for capital gains. It’s also why most salespeople sell naive investors on the promise of riches tomorrow rather than riches today.

Separating the Pros from the Know-Nothings 

I realize that some of you may be asking, “But how do I find investments that make me money today?" I know from personal experience how frustrating this question can be.

All I can do is encourage you to keep asking yourself that question. That’s what I did and continue to do today. I’ll repeat myself yet again: Knowing the difference between investments that cost you money and ones that make you money is what separates rich investors from naive investors.

This even applies to business. I’m always amazed at how many people assume a business has to lose money before it makes money.

Recently, I had to let go a whole team of managers from one of my businesses because all they did was lose money. When I pressured them as to why the business was failing, many in the group reiterated this cracked philosophy. As I said, I had to let them go and replace them with people who knew how to make money.

Nothing Worthwhile Is Easy 

I often use my wife Kim as an example of my rich dad’s lesson. Her first investment made her a net $25 a month. It was a two-bedroom, one-bath house. To consistently see moneymaking investments required time, study, discipline, and effort on her part.

Yet once she learned to spot an investment that made money, she was part of a world very few people ever see. Today, she makes tens of thousands of dollars a month from her investments.

I’m not saying it’s simple to find investments that make money right away. As the saying goes, “If it was easy, everyone would do it." Yet we all know how easy it is to find investments that lose money or that cost money — that’s why there are so many people who invest for tomorrow rather than for today.

My rich dad would advise you to keep looking, and train yourself to invest like a pro.


含光混世貴無名,何用孤高比雲月。且樂生前一杯酒,何須生後千載名? 

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