Top 6 personal financial obstacles – Part II

In the previous article, I listed the top 6 personal obstacles quoted by Robert Kiyosaki, which can potentially prevent even the most financially literate from reaching their success goal.

They are:
1. Fear
2. Cynicism
3. Laziness
4. Bad Habits
5. Arrogance
6. Disappointment

I went on to talk about the first obstacle, Fear.  The fear of losing money and how the rich and the poor managed their fear differently.  I will continue with the next obstacle in this article.

Cynicism
The second obstacle that Robert Kiyosaki listed is Cynicism.

If you can remember, there is this character in a children’s fable that ran around the farmyard, warning the other animals that the sky is falling?  Remember Chicken Little?

He was a classic cynic.  His attitude towards life is full of doom and gloom. 

Inside each of us, we all have some chicken little in us.  Robert Kiyosaki exclaimed that there are chicken little everywhere, especially in the financial world!  Financial cynics would speculate and declare the sky is falling.  In truth, most of these warnings are just a lot of empty note.  We hear all these noises from friends, family, co-workers and the media.  We hear noises all around us.  And because there is a little bit of chicken little inside each of us, we tend to succumb to it.  We adopt the “rather be safe than sorry” attitude.

If we want to achieve financial success, Robert Kiyosaki advises that we need to make up our mind and stop listening to the clucking of the cynics.  Cynics are nothing more than alarmists doing nothing but spending and wasting all their time spreading fear.  We should ignore them because cynics never win.  It is the people who read a situation correctly who end up winning, ie, the analyst.  We should chase our chicken little away.

Robert Kioysaki mentioned, “Cynics blind you of opportunities while analysis opens your eyes to possibilities.  One lead to paralysis, the other lead to action”.

Peter Lynch of Fidelity Magellan recalls when the threat of nuclear war was so prevalent in the 1950s, people began building expensive fallout shelters and accumulated food and water. If they had instead used their hard-earned dollars to make some wise investments then, they probably would be financial independent today.

To inspire us to change our attitude of doom and gloom, and chase away our chicken little, Robert Kiyosaki relates the story of Colonel Sanders. 

Colonel Sanders, at the age of 66, lost his business and found that his Social Security was not enough for him to live on.  So he had to go around the country trying to sell his recipe for fried chickens.  He was turned down 1009 times before finally someone bought it.  And he went on to become a millionaire at an age when most people are retiring on pension.

If you are in doubt and feeling afraid, do what Colonel Sanders did to his chicken little – he fried it!