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.

ENJOYED THIS? HAVE MORE.

MOUNTAINS OF WISDOM

Subscribe to my yamabushi newsletter

RECENT BLOG POSTS

two man hiking on snow mountain
Slowly but surely
gray monk statue in between plant pots
Looking the part
pink water lily flower on water
Why is what you are doing important?

YAMABUSHI BLOG POSTS

Options on and off the table
Intention is an excuse for inaction
The cliche that keeps on giving

RANDOM POSTS

men standing on the white snow
In spite of, or because of?
Mt. Chokai
Hiking Guide: Mountains of The Shonai Region
slice cake
Don’t burn your cake
Tim Bunting Kiwi Yamabushi

Tim Bunting Kiwi Yamabushi

Get In Touch

Sakata City, Yamagata, Japan 

tim@timbunting.com

Share this:

Like this:

Like Loading...
Scroll to Top