Facts Vs. Opinions
I was just reading the Cashflow Quadrants by Robert Kiyosaki where he highlights something his rich dad pointed out. Is what you hear a fact? Or is it an opinion? The answer to this question should have repercussions for how you act in response. If a valuer tells you your house is worth $1m, is that a fact or an opinion?
Facts are things that you find in your business statements, cold, hard, data. People who can’t read business statements (myself included) rely on people to explain them, and that explanation is also an opinion. Also, if you aren’t sure if something is a fact or not, it’s an opinion. Opinions have the latent problem of sometimes being wrong. So, when it comes to investing, and I would add other decisions in life, don’t rely on opinions and emotions. You can use them for guidance towards building your opinion, but don’t rely on them completely. Search for the facts and let them guide your actions.
I was also reminded that your primary housing is a liability, unless it brings in cashflow. Just a reminder to my future self, an asset is something that brings in cashflow. A liability is anything that loses it.
ABOUT THE AUTHOR
Hi, I’m Tim Bunting AKA the Kiwi Yamabushi, a New Zealander who became a Yamabushi Ascetic in the Dewa Sanzan mountains of north Japan. I’m part of the Yamabushido team, and we host life-altering Yamabushi training on the Dewa Sanzan (website link). People come to us for the ultimate mindfulness experience, to reach the next level, or simply connect with nature and themselves.
I’m on a mission to summit all 100 Famous Mountains of Yamagata Prefecture to spread the splendour of this fabulous location, and in dedication to all those who lost their lives out in nature, including my father.
On my daily blog I post thoughts of a practicing Yamabushi that I hope people can use to better themselves and live as fulfilling a life as possible.
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