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If you were to stop working, imagine this
to yourself. How long can you survive on Your remaining savings? What I just asked
you was a definition of wealth. Here is a man named Robert Kiyosaki, an American
investor, businessman, author, motivational speaker, and financial commentator who
became well-known in the recent years who has an estimated net worth of 80
million dollars! Want to know something interesting? “Oh?” He wasn’t raised in a
wealthy background. His family was like most people who work but didn’t
have the best financial education and Often struggled with money. So then, how did Robert become rich today?
Let’stake a look as he explains in one of his bestsellers called Rich Dad Poor Dad Robert Kiyosaki was born in Hilo Hawaii in April 1947 in 1957, at age nine years old, little Robert was attending the same
the public school where the rich people sent
their children for his town had lots of
doctors, business owners, and bankers
Robert saw that the rich kids would
separate themselves from him for his
the family wasn’t able to afford the newest
collections of toys and bikes like them.
So one day, Robert asked his father who
had a Ph.D. and completed multiple
universities with excellent degrees, “Dad,
can you tell me how to get rich?”
Unfortunately, his dad didn’t know the
correct answer because he was a rich
himself, so he responded with, “Well, use
your head, son.” “Stay in school, get good
Grades so you could find a safe and
secured job. His real dad is what he’ll be
Referred to as a poor dad. He wasn’t poor at
this time he was making lots of
money, but in the end, this man’s
financial life takes a turn for the
Worse. Now little Robert has a friend
named Mike and which Mike’s father would
Be referred to as rich dad. Who started
mentoring Robert and his son Mike about
How to become rich. At this point
in time, rich dad wasn’t wealthy yet
But soon became to be one of the
wealthiest men in Hawaii. So then, what
Did rich dad teach Robert? Rich dad poured a solid financial foundation into
These kids’ minds of many important
principles. To start, the first lesson.
you need to know is you must know the
difference between an asset and a
Liability and that you need to buy
assets. If you want to be rich, this is
All you need to know and
understand the most! You see, the rich.
acquire assets and the poor and middle
class accept liabilities but sometimes
They think they are assets. The primary
cause of financial struggle is simply
not knowing the difference between an
asset and a liability. “?” OH! Right! You don’t even.
Know what an asset or liability is, don’t
you? An asset is something that puts
Money in my pocket.
A liability is something that takes
Money out of my pocket. For instance
let’s try the cash flow pattern of a normal
Individual. This person right here
earns his income from a job and as
expenses are things like food, clothes,
entertainment, and transportation
Unfortunately, he doesn’t have assets but
sure does have liabilities that
constantly takes money out of his pocket
because things like mortgages, taxes
Credit cards, loans, and, believe it or not,
the house. Now let’s take a look at how to
The Cashflow pattern works for the
rich. Instead of looking to earn more
money from their regular job as the only
source of income, they buy and own assets
That brings money into their pockets as
a form of passive income. Passive income
is something that earns money that
doesn’t require you to trade your time
for it, so in other words, you would be
earning money even as you’re sleeping.
Examples of assets are businesses that
doesn’t require your presence, such as stocks
bonds, mutual funds, income-generating
real estate, royalties, notes, and anything
Else that has the value that produces income.
As mentioned before, poor dad was making.
quite a lot of money from his job but
his expenses seemed always to keep up
With his income, never allowing him to
invest in assets. As a result, his
liabilities such as his mortgages and
credit card debts grew greater over time
and this is the fault of having income
equals expense and assets is less than
liabilities, and sadly, this is what drove
poor dad into debt even after he passed
Away. On the other hand, rich dad’s
the personal financial statement reflects
the result of a life dedicated to
investing and minimizing liabilities so
he has income that is greater than the
expense because of assets is greater
Than liabilities. This is practically why
the rich are getting richer! Their assets
generate more than enough income to
cover expenses with the balance
Reinvested into the asset column. The
asset column continues to grow and
Therefore the income grows with it. You
see, both dads worked hard, but they have
Opposing attitudes and thoughts. One dad
recommended study hard so you can find a
Good company to work for. The other
recommended study hard so you can find a
Good company to buy. One dad said the reason
I’m not rich is because I have kids. The
Others said the reason I must be rich is
that I have you kids. One said when
It comes to money, plays it safe, and doesn’t
take risks. The other said learn to manage.
Your risk. One said I couldn’t afford that.
The other said, how can I afford that?
Although both men had tremendous respect
for education and learning they
disagreed on what they thought was
important to learn.
Robert learned from rich dad that the
the truth about the general population, their
lives are run forever by two emotions,
fear and greed that keeps you stuck in a
The pattern of get up, go to work, pay the bill.
Get up, go to work, and pay bills. Fear has
them in this trap of working, earning
money, working, making money, and hoping
Fear will go away of not having money.
Instead of confronting the fear they
React emotionally instead of using their
heads. The other emotion is desire,
some call it greed, which is a second reason
why people also work for money. They
Desire money for the joy that they think
it could buy. But the fun that the money.
brings is often short-lived and
soon needs more money for more joy, more
Pleasure, more comfort, and more security.
You see that same fear and desire is
what makes a lot of people be so
passionate about going to school for a
better chance of a high paying job, but
don’t be discouraged education and a
Jobs are essential, but they won’t precisely
handle that fear. To manage that fear, you.
need to learn the power of money, not be
afraid of it.
Unfortunately, most schools don’t teach
about this, and if you don’t learn it,
you’ll become a slave to money. Ignorance
of cash can cause so much greed and so
Much fear can lead you into life’s
most giant trap of constantly working. Rich Dad
said learn to use your emotions to
think not think with your feelings.
Examples of emotional thinking are like
I need to get another job!
I deserve a raise! I want this job because
it is secured! Instead of clearly
Thinking like, is there something I’m
missing here? This is our reality.
For most people, your profession is your
income. The rich, your assets is your
Income. Apply these lessons to your life
for if I were to ask you about the
Definition of your wealth if you would
stop working today. How long can you
Survive? You might laugh at me and say I
no longer work for money. Money works for
Me. Thank you guys for watching! Click
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