What the rich invest in, what the poor and middle class do not invest in. Rich Dad's Rich Kid Smart Kid. Rich Dad's Increase Your Financial IQ Get Smarter With Your Money Robert Kiyosaki's Conspiracy of the Rich.
RICH DAD POOR DAD
THE RICH DON'T WORK FOR MONEY
I understand you want a raise or you're going to quit,” said rich dad as he spun around in his office chair. If you decide to work for money, life will be like this," said rich dad.
WHY TEACH FINANCIAL LITERACY?
He was a man who did his own thinking and detested the words, "We have to do it this way because that's how everyone else does it." He also hated the word "can't". If you wanted him to do something, just say,. If all your money is tied up in your home, you may be forced to work harder because your money keeps blowing out of the expense column, instead of adding to the asset column—the classic middle-class cash flow pattern. Their expenses tend to rise in proportion to their salary increase: hence the phrase "the Rat Race." They treat their home as their primary asset, instead of investing in income-producing assets.
MIND YOUR OWN BUSINESS
The primary reason the majority of the poor and middle class are fiscally conservative—meaning, "I can't afford to take risks"—is that they have no financial foundation. Or if there is a gain on the sale of the assets, it is taxed on the gain. With small companies, my investment strategy is to be out of the stock in a year.
THE HISTORY OF TAXES AND THE POWER
OF CORPORATIONS
Accounting
The more money you are responsible for, the more precision is required or the house will collapse. Financial literacy is the ability to read and understand financial statements, which allows you to identify the strengths and weaknesses of any business.
Investing
Understanding markets
The law
It is easy to set up and is not expensive if you own investments that produce good cash flow. I would say it is the combination of the four technical skills listed above that make up basic financial intelligence. If you aspire to great wealth, it is the combination of these skills that will greatly enhance your financial intelligence.
THE RICH INVENT MONEY
- Take the time to develop your financial intelligence Harness the power of your brain and the asset column
- Find an opportunity that everyone else missed
- Raise money
- Organize smart people
I hear these comments much more often than "Can you show me how to do that?" The math is simple. The more I learn - and there is a lot to learn - the more money I make, simply because I gain experience and wisdom as the years go by. Too often I hear people say, "The bank won't lend me money," or "I don't have the money to buy it." If you want to be a Type 2 investor, you need to learn to do what stops most people.
WORK TO LEARN — DON'T WORK FOR MONEY
I was a shy person and the thought of selling was the scariest subject in the world. So the rule of thumb is: “Too specialized; then join.” It's the smart thing to do. My educated father always said, "When I have extra money, I will give it away." The problem was that there were never any extras.
OVERCOMING OBSTACLES
But if you have dreams of freedom—of breaking out of the Rat Race—the first question you should ask yourself is, "How do I respond to failure?" If failure inspires you to win, maybe you should go for it—but just maybe. The rich father stopped the words: "I can't afford it." In my real home, that's all I heard. Instead, rich dad asked his children to say, "How can I afford it?" He believed that the words "I can't handle it" shut down your brain.
So people like bosses, managers, tax collectors, bill collectors and landlords put me off all my life – just because I don't have good money habits. Because when I'm arrogant, I really believe that what I don't know isn't important," rich dad often told me. There are many people in the world of money, finance and investing who have absolutely no idea what they are talking about.
GETTING STARTED
Find a reason greater than reality: the power of spirit
If you ask most people if they would like to be rich or financially free, they would say yes. Now the "desires". I want to be free to travel the world and live the lifestyle I want. I wanted to be free at 40, but it took me until I was 47, with many learning experiences along the way.
Make daily choices: the power of choice
Many wealthy families lose their assets in the next generation simply because there was no one trained to be a good steward of their assets. I'm still young." "When I make money, then I will think about my future." "My husband/wife handles the finances." The problem with those statements is that they rob the person who chooses to think such thoughts of two things: One is time, which is your most precious asset. Today I often say, "How would Donald Trump do it, or Warren Buffett or George Soros?" The only way I can access their great spiritual power is to be humble enough to read or listen to what they have to say.
Choose friends carefully: the power of association
This is because, in the market, it is usually the crowd that shows up late. If they miss a wave, they look for the next one and find themselves in position. You want to hear about the next boom, get in and out before the next bust.
Master a formula and then learn a new one: the power of learning quickly
When it comes to money, the masses generally have one basic formula that they learned in school and that is: Work for money. If you're tired of what you're doing or not making enough money, it's simply a matter of changing the formula you use to make money. Another side note: in today's fast-paced world, what you know doesn't count as much anymore, because what you know is often old.
Pay yourself first: the power of self-discipline
Kim and I have had many bookkeepers, accountants and bankers who have had a big problem with this way of looking at "Pay yourself first." The reason is that these financial professionals actually do what the masses do: They pay themselves last. The reason I minimize my income is because I don't want to pay it to the government. So the number one rule of paying yourself first is: Don't get into consumer debt in the first place.
Pay your brokers well: the power of good advice
The same goes for stocks, bonds, mutual funds and insurance, brokers who call themselves financial planners. I used to have an accountant who was a small accountant, but he didn't have real estate. Many agents will spend the time educating you, and they can be the best asset you can find.
Be an Indian giver: the power of getting something for nothing When the first European settlers came to America, they were taken
The first question of the smart investor is: “How quickly will I get my money back?” They also want to know what they get for free, also called a 'piece of the action'. That's why ROI, or return on investment, is so important. But it takes a long time to get your money back and in most cases you don't get anything for free. They look at the assets they get for free once they get their money back.
Use assets to buy luxuries: the power of focus
He's read all the books I bought for him, and he's gone to the library to get more. I believe it is equally important to learn how to make money work for you. Instead of choosing to focus on the liabilities column, I chose to focus on the asset column.
Choose heroes: the power of myth
Teach and you shall receive: the power of giving
Often, just the process of thinking about what I want and how I can give it to someone else releases a flood of generosity. Therefore, I say: "Learn and you shall receive." I have found that the more I teach to those who want to learn, the more I learn. There are times when I have given and nothing has been returned, or what I have received is not what I wanted.
STILL WANT MORE?
HERE ARE SOME TO DO'S
They only buy a piece of the pie and therefore end up paying more for less. Bill Gates was one of the richest men in the world before the age of thirty. These are just some of the things I have done and continue to do to identify opportunities.
FINAL THOUGHTS
Rich dad always said, "All a real investor does is convert earned income into passive and portfolio income. All of our educational products are created to teach the same skills my rich dad taught me, the skills to convert earned income into passive and portfolio income As rich dad says in lesson number one: “The rich don't work for money.
Robert Kiyosaki
Robert Kiyosaki, best known as the author of Rich Dad Poor Dad - the #1 personal finance book of all time - has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator and investor who believes that the world needs more entrepreneurs who will create jobs. The author of 19 books, including the international bestseller Rich Dad Poor Dad, Robert has been a frequent guest of media houses around the world - from CNN, BBC, Fox News, Al Jazeera, GBTV and PBS to Larry King. Live, Oprah, Peoples Daily, Sydney Morning Herald, The Doctors, Straits Times, Bloomberg, NPR, USA TODAY and hundreds more – and his books have topped international bestseller lists for over a decade.
Unmatched Financial Insight from Financial Titans Trump and Kiyosaki
In Why We Want You To Be Rich — Two Men, One Message, Trump and Kiyosaki take on. Read the ground-breaking interactive book, Robert Kiyosaki's best-selling Rich Dad's Conspiracy of the Rich, and learn how the ultra-rich are stealing your wealth through taxes, debt, inflation and retirement - and what you can do about it. Spanning history, current events, and future trends, Rich Dad's Conspiracy of the Rich was written and published online during the worst economic crises since the Great Depression, and includes reader commentary and a bonus Q&A chapter.
Is There A Conspiracy Against Your Wealth?
In Rich Dad's CASHFLOW Quadrant, the sequel to Robert Kiyosaki's big hit, Rich Dad Poor Dad, you will learn what role you play in the world of money. Discover how you can move from employee or self-employed to the power of business owner and investor. Rich Dad's CASHFLOW Quadrant is the perfect guide to getting out of the rat race and onto the fast track.
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Knowledge Is the New Money
