Friday, March 13, 2009

Notes from "Rich Like Them"

The following are the notes I captured from reading Ryan D'Agostino's "Rich Like Them" book. They are essentially the Chapter titles and main points of each chapter.

1-Open Your Eyes
Don’t Forget Your Goal-Even When You’re On Vacation
Where Others See Death, Imagine Life
When You Hear Someone Say “If Only I Could…” You’re Hearing an Opportunity
Connect the People You Meet (be the hub of the wheel)
Save Some Money for a Rainy Day
Once You Connect the Dots, Follow Through

2-Luck Doesn’t Exist
Choose Your Purpose, and Don’t Let Anyone Tell You You’re Wrong
Remember: With Time Comes Free Money (compounding)
Watch Your Pennies, No Matter How Many You Have
Keep Your Cool-It’s a Big Part of Persevering
Don’t Deviate from Your Planned Path to Get a Quick Gain
Perseverance Doesn’t Take Forever
Once You Find Your Calling, Persevering is Easy
Remember That You Can’t Do a Business Transaction with Yourself
Prepare to Get Lucky

3-The Economics of Obsession
Find a Driver Other Than Money-It’s Usually More Lucrative Than Money Alone
Do One Thing and Do It Well
Obsess Over Whatever Job You Have
Take Your Mind Off the Money-You’ll earn More
Don’t Plan a Career-Plan a Life
Obsession Makes You Work Harder
If You Look Forward to Going to Work, That’s a Good Sign
Discover Love Through Immersion (work for the love of it)
Turn Fear into Passion (pursue the idea)

4-The Myth of Risk
Never Stop Being a Student
Calculate Every Risk-Even the One You Live In
Look for Your Window to Go Solo
You Want Autonomy? Let It Motivate You
Be Cocky When It Counts
Don’t Worry About What Other People Think
Reduce Risk by Believing in Yourself
When You Fail Miserably, Rejoice
If You Hate Your Career, Um, Change It
Sometimes the Biggest Risk Is Doing Nothing

Never Let Pride Get in the Way of Profit
Be Humble Even If You’re As Rich As Brooke Astor
Don’t Be a Slave to Plan A-It’ll Prevent You from Seeing Plan B
Don’t Be Afraid to Make Less Than Your Spouse
Never Feel As If You’re Too Successful to Sweat
Remember That You Are Not, Nor Will You Ever Be, a God or Goddess

This was originally my idea, to go knock on doors of the apparently wealthy and ask them how they got that way, but Ryan beat me to it :-)

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