Saturday, July 10, 2010

How is it to be a Rich Woman?

I grew up in a patriarchal family where men have the control or should I say, the upper-hand on finances. My father was an engineer who was a good provider. My mom was an aggressive woman who was also an employee like my dad in a government agency. Growing up, I saw my father building small businesses such as an auto repair shop and iron works and my mom, just being supportive of my dad's projects. We grew up in a very comfortable home. We weren't made to experience uncomfortability. We weren't that sheltered but we were definitely pampered. A few years after, I found out that pops had lung cancer. I really didn't feel the financial impact of that on our family because all along, I knew that we can afford the medical treatment etc. After all, I had 2 siblings in med school, we were in private catholic schools and we weren't forced to commute. That lifestyle was not cheap.

It was only in college that I found out that we were deeply in debt because of the hospital bills and eventually, the wake and burial expenses of my late father. It was only later that I found out that my parents had to sell our lot in the same subdivision to pay for the med school tuition fees. While all of these are happening, my mom was just there, firm in her stand to support the family. Resilient as ever. Of course, all the small traditional businesses didn't last. Pops didn't have anyone to transfer it to. What lasted were the rental units that we have. It amuses me now that during that time, even before the illness befell him, he was probably thinking of a "passive income stream" already.

This is one of the defining moments in my life when I decided that I want to be wealthy - that I am killing off the option of living a mediocre life. I want to be like my dad who created a passive income source for my mom and for his children. Now that I'm a coach, I can say that my mom was very good in handling the rental units. She has taken full ownership in the management of that property ever since. This July is gonna be my dad's 10th year death anniversary. If not for the people skills of my mom,baka pati apartments, nawala na rin. She could've easily sold it to get a huge amount of money. But until now, the units are still there, the tenants are still there and there are good plans for that property.

Going back to my question, "How is it to be a RichWoman?" I can say that it is being empowered to go for the path of financial freedom. It is about holding the reigns on my financial life. It means being clear with the life that I want to provide for myself and for my future generations. It means being a contribution and a positive influence to other men and women who are still struggling in their current situation. Being a rich woman means constantly yearning for education and growth. It is allowing myself to grow and be uncomfortable because being wealthy is a process and a lifestyle. It is not something to be achieved through a one-time lottery grand prize nor an increase in my salary in the rat race. It is a lifetime commitment to myself and my family.

As Kim Kiyosaki author of Rich Woman said, "I wrote Rich Woman because I believe the world would be a better place if there were more Rich Women.” And I think the men here would agree.

Kudos to the Rich Women in this Community!

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