Introduction
“The benefit of living in a free society is that we all have the choice to be rich, poor, or middle class. The decision is up to you.” -Robert Kiyosaki
How did this author go from homeless to being financially free in a few short years? In a nutshell, you must be true to yourself and what you want to achieve. Sit down and map out your financial plan. Control your spending habits. Minimize your debt and liabilities. Live within your means and find ways to increase your means. Develop a long-term plan. Keep in mind your most valuable asset is Time. Keep things simple. You will later learn all about the different quadrants and be able to plot your own unique path to financial success by having more than one source of income, real assets, and investments.
Put something away. Pay yourself first. Mind your own business. Invest in assets that put money in your pocket. Build an efficient and profitable business system that earns and works hard for you while you are out playing golf.
It isn’t about how much money you make, it’s really about how much money you keep, how fast it grows and works for you, and for how many generations it will last….
What do you want to be when you grow up?
We have all been conditioned all our lives to go to school, get good grades, and then get a safe, secure job. This is Industrial Age thinking.
In today’s Information Age, this advice is obsolete. We are not taught how to become business owners and investors. Gone are the days when the company or government can guarantee a pension for your old age. Today and in the future, more and more people will see that they can only rely on themselves and their financial knowledge if they want real security.
It would be wiser to condition ourselves, and our children into thinking: Go to school, get good grades, build businesses, and become a successful investor.
Risk? What risk?
In reality, there is a greater risk in sticking to a job than in minding your own business or putting money in investments. A job can easily be taken away from you anytime.
On the other side of the quadrant, you can sell your business off for a good sum, and relax while the investments you made years earlier provide you with the cash flow for the comfortable worry-free lifestyle you and your family have always dreamed of…
Chapter One
“Why don’t you get a job?”
Yes, you can always get a job. But you can’t always find financial freedom. The difference between Rich Dad and Poor Dad was that as Rich Dad became more successful, he had more free time to spend with the people he loved. As Poor Dad became more successful in the field of education as a state employee, he had less and less free time because of meetings and work. Financial freedom means having the cash flow and the free time. A job and a boss won’t give you that kind of freedom.
It doesn’t take a formal education to become rich. Bill Gates, Michael Dell, Ted Turner, Thomas Edison, Henry Ford, Steve Jobs, Ralph Lauren. These people dropped out of school and built successful businesses.
It doesn’t take money to make money. The author of this book and his wife started out with absolutely no money. Today they have a real estate company, two educational companies, a mining company, and an oil company.
You can earn income in all four quadrants, regardless of what you “do” professionally. A doctor can be employed by a hospital (E), have his own private practice (S), own a laboratory or clinic (B), and invest in the stock market, bond market, and real estate (I).
Rich Dad’s Wisdom in a Nutshell
“You only have so many hours in a day and you can only work so hard. So why work hard for money? Learn to have money and people work hard for you, and you can be free to do the things that are important.”
Time to raise children
Have money to donate to charities and projects
Bring jobs to the community
Time and money to care for your health
Time and money to travel the world
Money supports life. Don’t spend your entire life working so hard for it.
No comments:
Post a Comment