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The captain is you

One of the most difficult for me lessons consisted in listening to my advisers, to trust intuitions and independently to accept decisions - correct or erroneous, good or bad. As the rich daddy spoke, itthe captain of your ship is you, instead of your advisersit.

Lesson repetition

Recently I had to endure the unpleasant moment which has reminded to me that I still remain the captain of the financial ark and the financial report. In December, 2001 we with Kim have got new object of the real estate. After our bookkeeper and tax advisers have blest the investment, we have charged definitive registration of the agreement to lawyers. Two months later, having laid out on lawyer fees of thousand dollars, we have learnt that the transaction has collapsed. That seemed elementary financial operation, has turned to an expensive nightmare as lawyers instead of professionally and objectively to make the contract, have started personal war with each other. Negotiations have rested against the nuances which do not have almost any value. Everything that lawyers could make, is to be focused cash attacks, having disregarded interests of the transaction. The strong positive moments of the investment have been forgotten. The investment purposes, that is a monetary stream, a capital gain, amortisation and free profit on taxes have appeared for lawyers are not important. The one was important only who from them the rights. Two months of time and ten thousand dollars have been lost, because I have entrusted the adviser to operate the ship. It seemed to me that I again hear words of the rich daddy: itIf the person is clever and went to good school, does not mean yet that he knows something about the real world of business or investmentsit.

The rich daddy has surrounded itself with clever people. It was the attentive listener and was respectful to each of advisers. And still in the end of day he always recollected that still remains the captain of the ship. The final decision still belonged to it.

Be the captain

Many of recent losses in the share market have been called by that too many people allow advisers to operate the arks. If you are going to to be the captain of own ship are obliged to keep control of the advisers.

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