Page 176 - Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money

Which one needs the most work? Which one is your biggest problem?
Focus on that one and address it now. Do not attempt to take all five on at

once. That would be overwhelming. I believe you will find that all five are
related, so by focusing on one, you will ultimately improve all five
intelligences. Then take your time, learning a little every day. Always
remember, no golfer became a professional in one day. Not even Tiger

Woods.
By increasing your five financial intelligences you are increasing your
financial integrity and your own intrinsic value. If you are not sure what to
do, please do not be afraid or ashamed to ask for help. In the next chapter

on finding your financial genius, I write about how much I depend upon
smart people for help. No one is above needing help.

2. Invest in assets with intrinsic value. Take another look at some of the
criteria Warren Buffett uses to establish a business’s intrinsic value. Then
for practice, start asking yourself which businesses around you meet the
requirements. Even if you do not invest, this is a great exercise for

increasing your financial IQ.

Intrinsic Value of Real Estate

One of the reasons I like real estate is because I am able to see, touch, and
control much of the property’s intrinsic value. But always remember, most

real estate is not a good investment. A great exercise, regardless if you have
money, is to look at a number of properties and analyze their intrinsic value.
One of the beauties of real estate is creativity. For example, I can use
creative financing, creative improvements, or creative ways to increase the

value of the property. Creativity is not as much an advantage when picking
a stock or buying mutual funds. But in real estate, creativity plus integrity
can make you very rich.

3. Batten down the hatches. As they taught us at the U.S. Merchant Marine
Academy, when a storm approaches, it is time to batten down the hatches.
This means to protect the integrity of the ship. In my few years of going to