Former US Secretary of State Colin Powell and Property Investing

I wrote the following lines in one of my books:

“…If you want to be rich but your parents are not, than love them but don’t listen to them..”

“..Only take advice from people who have achieved it otherwise you will get really confused…”

Colin Powell, the former US Secretary of State makes these comments;

 “The less you associate with some people, the more your life will improve.

Any time you tolerate mediocrity in others, it increases your mediocrity.

An important attribute in successful people is their impatience with negative thinking and negative acting people.

As you grow, your associates will directions

Some of your friends will not want you to go on. They will want you to stay where they are.

Friends that don’t help you climb will want you to crawl.

Your friends will stretch your vision or choke your dream.

Those that don’t increase you will eventually decrease you.

Consider this: Never receive counsel from unproductive people.

Never discuss your problems with someone incapable of contributing to the solution, because those who never succeed themselves are always first to tell you how.

Not everyone has a right to speak into your life.

You are certain to get the worst of the bargain when you exchange ideas with the wrong person.

Don’t follow anyone who’s not going anywhere.

With some people you spend an evening: with others you invest it.

Be careful where you stop to inquire for directions along the road of life.

Wise is the person who fortifies his life with the right friendships.

If you run with wolves, you will learn how to howl.
But, if you associate with eagles, you will learn how to soar to great heights.

A mirror reflects a man’s face, but what he is really like is shown by the kind of friends he chooses.

The simple but true fact of life is that you become like those with whom you closely associate – for the good and the bad.

Note: Be not mistaken. This is applicable to family as well as friends.

Yes…do love, appreciate and be thankful for your family, for they will always be your family no matter what.
Just know that they are human first and though they are family to you, they may be a friend to someone else and will fit somewhere in the criteria above.

In Prosperity Our Friends Know Us. In Adversity we know our friends.

Never make someone a priority when you are only an option for them.

If you are going to achieve excellence in big things, you develop the habit in little matters.
Excellence is not an exception, it is a prevailing attitude.”― Colin Powell

What has this got to do with property investing?


Choose the right people to take advice from when choosing the property to invest in.

Don’t listen to those who do not have property themselves or who give a lot of advice but have not taken any action themselves.

Surround yourself not just with experts but choose the experts who have taken action for themselves.

It’s very easy to yell advice from the sidelines as a spectator but only 11 players actually make it onto a soccer field to play the game and then only one team of players out of many teams competing actually end up winning.

I suggest you listen to the players in the winning team.

Want more of this type of information?

Ed Chan


Ed is a founding partner of Chan and Naylor accountants and a leading property tax specialist. He has co-authored 3 best selling books. As a seasoned property investor he shares his unique understanding of the relationship between property investment and tax. Visit

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