We live in the Information Age. Information is priceless. A good broker should provide you with information as well as take the time to educate you. I have several brokers who are willing to do that for me. Some taught me when I had little or no money, and I am still with them today.

What I pay a broker is tiny in comparison with what kind of money I can make because of the information they provide. I love it when my real estate broker or stockbroker makes a lot of money. Because it usually means I made a lot of money.

A good broker saves me time in addition to making me money-as when I bought the piece of vacant land for $9,000 and sold it immediately for over $25,000, so I could buy my Porsche quicker.

A broker is your eyes and ears to the market. They're there every day so I do not have to be. I'd rather play golf.

Also, people who sell their house on their own must not value their time much. Why would I want to save a few bucks when I could use that time to make more money or spend it with those I love? What I find funny is that so many poor and middle class people insist on tipping restaurant help 15 to 20 percent even for bad service and complain about paying a broker 3 to 7 percent. They enjoy tipping people in the

expense column and stiffing people in the asset column. That is not financially intelligent.

All brokers are not created equal. Unfortunately, most brokers are only salespeople. I would say the real estate salespeople are the worst.

They sell, but they themselves own little or no real estate. There is a tremendous difference between a broker who sells houses and a broker who sells investments. And that is true for stock, bond, mutual fund and insurance brokers who call themselves financial planners. As in the fairy tale, you kiss a lot of frogs to find one prince. Just remember the old saying, "Never ask an encyclopedia salesperson if you need an encyclopedia."

When I interview any paid professional, I first find out how much property or stocks they personally own and what percentage they pay in taxes. And that applies to my tax attorney as well as my accountant. I have an accountant who minds her own business. Her profession is accounting, but her business is real estate. I used to have an accountant that was a small business accountant, but he had no real estate. I switched because we did not love the same business.

Find a broker who has your best interests at heart. Many brokers will .'; spend the time educating you, and they could be the best asset you find. Just be fair, and most of them will be fair to you. If all you can think about is cutting their commissions, then why should they want to be around you? It's just simple logic.

As I said earlier, one of the management skills is the management of people. Many people only manage people they feel smarter than and they have power over, such as subordinates in a work situation. Many middle managers remain middle managers, failing to get promoted because they know how to work with people below them, but not with people above them. The real skill is to manage and pay well the people who are smarter than you in some technical area. That is why companies have a board of directors. You should have one, too. And that is financial intelligence.

7. BE AN "INDIAN GIVER": This is the power of getting something for nothing. When the first white settlers came to America, they were taken aback by a cultural practice some American Indians had. For example, if a settler was cold, the Indian would give the person a blanket. Mistaking it for a gift, the settler was often offended when the Indian asked for it back.

The Indians also got upset when they realized the settlers did not want to give it back. That is where the term "Indian giver" came from. A simple cultural misunderstanding.

In the world of the "asset column," being an Indian giver is vital to wealth. The sophisticated investor's first question is, "How fast do I get my money back?" They also want to know what they get for free, also called a piece of the action. That is why the ROI, or return of and on investment, is so important.

For example, I found a small condominium, a few blocks from where I live, that was in foreclosure. The bank wanted $60,000, and I submitted a bid for $50,000, which they took, simply because, along with my bid, was a cashier's check for $50,000. They realized I was serious. Most investors would say, aren't you tying up a lot of cash? Would it not be better to get a loan on it? The answer is, not in this case. My investment company uses this as a vacation rental in the winter months, when the "snowbirds" come to Arizona, and rent it for $2,500 a month for four months out of the year. For rental during the off-season, it rents for only $1,000 a month. I had my money back in about three years. Now I own this asset, which pumps money out for me, month in and month out.

The same is done with stocks. Frequently, my broker will call me and recommend I move a sizable amount of money into the stock of a company that he feels is just about to make a move that will add value to the stock, like announcing a new product. I will move my money in for a week to a month while the stock moves up. Then, I pull my initial dollar amount out, and stop worrying about the fluctuations of the market, because my initial money is back and ready to work on another asset. So my money goes in, and then it comes out, and I own an asset that was technically free.

True, I have lost money on many occasions. But I only play with money I can afford to lose. I would say, on an average ten investments, I hit home runs on two or three, while five or six do nothing, and I lose on two or three. But I limit my losses to only the money I have in at that time.

For people who hate risk, they put their money in the bank. And in the long run, savings are better than no savings. But it takes a long time to get your money back and, in most instances, you don't get anything for free with it. They used to hand out toasters, but they rarely do that these days.

On every one of my investments, there must be an upside, something for free. A condominium, a mini-storage, a piece of free land, a house, stock shares, office building. And there must be limited risk, or a low-risk idea. There are books devoted entirely to this subject that I will not get into here. Ray Kroc, of McDonald's fame, sold hamburger franchises, not because he loved hamburgers, but because he wanted the real estate ; under the franchise for free.

So wise investors must look at more than ROI; it's the assets you get for free once you get your money back. That is financial intelligence. :

8. ASSETS BUY LUXURIES: The power of focus. A friend's child has been developing a nasty habit of burning a hole in his pocket. Just 16, he naturally wanted his own car. The excuse, "All his friends' parents gave their kids cars." The child wanted to go into|

his savings and use it for a down payment. That was when his father called me. "Do you think I should let him do it, or should I just do as other parents do and just buy him a car?"

To which I answered. "It might relieve the pressure in the short term, but what have you taught him in the long term? Can you use this desire to own a car and inspire your son to learn something?" Suddenly the lights went on, and he hurried home.

Two months later I ran into my friend again. "Does your son have his new car?" I asked.

"No, he doesn't. But I went and handed him $3,000 for the car. I told him to use my money instead of his college money." "Well, that's generous of you," I said.

"Not really. The money came with a hitch. I took your advice of using his strong desire to buy a car and use that energy so he could learn something."

"So what was the hitch?" I asked.