Ever since I started reading financial books and I was getting more interested in this personal finance stuff, I've had experiences on this matter when people learned that I am educating myself about it.
First was the Powerbooks guy who was so eager to help me out when I gave up finding Lynch's book. That was after he looked at me from head to toe in astonishment when he asked who I'm buying the books for. I told him it's for me, that I'm the one who wanted to do investment. His reaction was 'you don't look like one'.
The other one was over lunch times, there are three of us, one of us are onto stocks for around 3 years now. I frequented asking him what's this and that about stocks until one day, the other guy told me 'tell me if you've gained so I can do the same'
The other time was with another officemate. When she saw this financial book on my table (this time it was Gamboa's), she asked if I was already investing. I told her I'd start soon (as I am done with papers and stuff) and in the slightest way I told her the advantage if she does the same. Her reaction when I started with stocks? 'What if it loses?'
Then there is also this officemate who I learned is more interested in real estate. We plan to be some sort of partners, I'd do research on liquid investments and she in real estate, and we give each other tips and ideas when to invest where. It took me a few chat time sessions (via office messenger) until I convinced her to chill in the holding periods and fluctuations. Of all of them she is the closest to my age (with the exception of the PB guy I think) and our minds are in synch in finding our milking cows. I can smell partnership in the long run.
Of all of these I realize more and more what Gamboa was saying about thinking poor. I get his message really but there is no good of an example when you experience it first hand.
Example A has an investor look in his mind.
Example B is a free loader.
Example C has a low risk profile.
Example D needs a push.
Though Example A has superficial expectations on who should read who (or who should be an investor or not), it's apparent that he himself is interested in investing. But based on how he talked to me he never mentioned engaging in actual investing. He did mention some guy who was a regular customer who he professes buys his books from his passive income where that investor guy only sticks to just one tip to be successful. But listening to him relaying stories of other people but not himself is quite weird. All the knowledge in the world you gained from books, especially personal finance must be put into action too. I hope next time he'd be more inclined in doing the same too.
Example B is well, obviously what most Filipinos are. Tell them that there is this guy who was talked by another guy about some investment that give high yields just by recruiting somebody. No surprise why most of us fall for pyramid scams. We all love to tag in without asking what's this and that. And most often we just rely to another guy's confession, not information.
Example C is a bit hard to convince in stocks. You can never convince someone if their mindset is protecting whatever funds they have. I know I haven't mentioned but this officemate is a mom of two kids. Of course she is more insecure in putting in cash that has no definite return.
Example D is a different case all together. We all believe that real estate is the answer to everything. Ask anyone and everyone wants to be a landlord. But it's not just real estate that we all have to focus in. She needs a push in a way that she also has to see that there are other ways in skinning the cat; no matter how Kiyosaki tells you so.
I'm not saying that I'm better than everyone else's because other than getting burned, I am still a newbie. I've only been trading for less than a month and there is no telling if I fail a lot of times because of my inexperience. And with that in mind, I know that failing is part of this whole business and it's not a game like most people think. Pinoys are always on the extreme sides whenever it comes to investing that when someone is optimistic about it, the slightest provocation means they'd get out of it ever. Pessimists then won't ever join in no matter what. The fact is, failure, tolerance, patience and having an open mind is what investors get successful in. If there is only one thing I can agree with Kiyosaki it's his repeated lines 'that it doesn't need money to make money'-- to add, it's your mindset that counts. And unless Pinoys get over the fear, the ostrich effect, greediness and the urge for instant self gratification, well, not a trillion pesos would ever make someone a really successful investor.