Weakening the weak


If you are reading The Millionaire Next Door by Thomas Stanley and William Danko(I am in the last few pages) this phrase might be familiar to you.
The chapter that brought out this phrase is about outpatient care of adult children of the affluent. Back in the Philippines if one is born rich or with a silver spoon we say they are lucky. The fact is there are a few lucky born rich kids who are able to stand on their own. Most would likely be under the roof of their parents even after they finish graduate school. 

Weakening the weak means instead of strengthening somebody by helping out by way of shouldering their first rental by the time they live on their own or continually giving money even if they already have their own family they instead grow dependent on that support which they expect to come. It is like your mother giving you money even if you are already working thus it creates that thinking of yours that it is okay to not save up because financial help is always accessible.

Most successful people become successful because of the struggle they went through. Some are even born poor and end up one of the most admired person through his or her rags to riches story. I am not saying that all person born rich will end up dependent to their parents even at an old age, there are also born rich that excelled on their own.


So how would one avoid this “weakening the weak” and make one successful?

Well everybody hate the word “struggle” but this is the very word why you and me are here today. We struggled and succeeded. Parents should not “baby” their children but rather let them struggle to make them make necessary actions in order for them to achieve something. In a way when we struggle we become independent. We take responsibility for our actions and we learn from our mistakes. That is why so many gurus say that one must learn to fail in order to succeed in life because failure doesn’t end there. You and I have to get up, learn from that experience and use that knowledge to be better the next time around.

If you got “ipit” in your first trade in the Philippine Stock Market don’t be disheartened or traumatized. Instead learn from that experience. It should drive you to learn stock investing or trading further. It reminds me when I first started stock investing and trading. I thought I knew stock investing because I am a CPA but I was wrong. When I get to open my CitisecOnline account it took me three months till I am able to buy my first stock and the rest has always been a learning experience.(To read more of my early stock investing story click here).

Also you shouldn’t be dependent on what your friend say about a certain stock. Again we say do your due diligence. Their opinion may be right but you are not in his or her position where his or her stock position will be as according to his opinion. Learn as much as you can and that is why we should not forget one of the rules and that is not be ashamed to ask. 

If you only rely on some information given to you dont stop there. Study it, make what if scenarios, and ask so that you will have a better understanding. 

About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Check him out in Google+ Learn more about Louis and his financial freedom advocacy here.

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