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Friday, September 7, 2007

Millionaire Secrets - The Power Of Leverage

By Shawn Lim

This is a very famous and indeed a very powerful tool that you cannot miss if you want to be a Millionaire. I still remember reading Rich Dad Poor Dad from Robert Kiyosaki, he briefly explains what leverage means and how leverage can help us become rich. And in one of his book, Retire Young Retire Rich, Robert Kiyosaki even tells us how to use the power of leverage and what benefits you can get from using it.

Well, here is the definition that Robert says about leverage :

"In the broad definition of the world, the word leverage simply means 'the ability to do more with less'. When it came to the subject of work, money, and leverage, rich dad would say, 'if you want to become rich, you need to work less, and earn more. In order to do that, you employ some form of leverage.' He contrasted that statement by saying, 'People who only work hard have limited leverage. If you're working hard physically and not getting ahead financially, then you're probably someone else's leverage.' He also said, 'If you have money sitting in the bank in your savings account or retirement account, then others are using your money as their leverage.

My rich dad said, 'People with leverage have dominance over people with less leverage.' In other words, just as humans gained advantages over animals by creating leveraged tools, similarly, humans who use these tools of leverage have more power over humans that do not. Saying it more simply, 'leverage is power'."

So now you understand the word leverage means. And indeed you need to make use of tools to leverage from your work. Plus now with the help of internet and computers, you can achieve many things especially to make more money. As you can see, more and more leveraging tools are being created every single day. Those people who can adapt and use these tools wisely will move one step forward than those who don't know to benefits from these tools. If you're not learning to use all these leveraging tools, you will fall back financially or working harder and harder just to keep up.

Here's some great example so that you can be more clear of how powerful leverage tools can be. When you look back in history, 5,000 years ago, humans utilizing sails and the power of wind to propels their ships across the vast seas. Therefore, humans can carried more loads can cross the seas. Another example is that a bird utilizes its wings as a leverage tools to fly. Humans observed birds in flight, then used their minds to discover how humans could also fly.

Here is a very famous quotes for leverage :

"Give me a lever long enough and I could move the world." from Archimedes.

In our life, we definitely need leveraging tools to make our life easier. And in the case of making more money, use every tools that is available and use them wisely to help you create more wealth.

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2 comments:

Shawn Lim said...

Hi, Shawn from The Millionaire Secrets here. Thanks for featuring my article in your blog.

I very appreciate it. Thanks a million. All The Best and Happy Blogging.

To Your Success,
Shawn

CHESSNOID said...

That was a very good post. I really liked it. Good way to look at leverage beyond the conventional sense.