Make your money work for you robert kiyosaki

Bankruptcy is a business tool to help you reset after a mistake and protect your creditors from total losses. Then he had a nice car and a great asset. Musk , and luck. Silver and gold will be around another 1, years.

Some Extra Advice By Robert Kiyosaki For You

Robert Kiyosaki believes that we do not have to work hard for our money mondy that our money should work hard for us. Most Successful and wealthy people already know this robery and live by it, if you are a beginner just starting out then this make your money work for you robert kiyosaki is an essential for your learning on the road to success. Do not work for money, have money work for you, the way of doing that is creating or acquiring assets that will generate cash flow. Examples of assets that generate cash flow is the business that you create or purchase real estate that you rent, paper assets such as stocks or bonds. Before investing in assets that generate cash flow, invest in improving your financial education.

1. Financial Education: The Key to Wealth

Money alone, hard work, education, or a job are poor solutions to money problems. Financial intelligence is the smart solution because «money problems make you smarter if you solve the problem. This change occurred for two reasons: 1. In , President Nixon took the United States off the gold standard. Accordingly, «the U.

Practice What You Preach

Money alone, hard work, education, or wprk job are poor solutions to money problems. Financial intelligence is the smart solution because «money problems make you smarter if you solve the problem. This change occurred for two reasons: 1. InPresident Nixon took the United States off the gold standard. Accordingly, «the U. Currency «must move from asset to asset as quickly as possible … Assets are either appreciating in value or producing cash flow.

Sincebusinesses stopped defined benefitwhich is guaranteeing the retiree a paycheck for as long as the retiree lived and started new pension plans make your money work for you robert kiyosaki defined contribution, like k s. The rules of money have changed and are changing.

However, he is not trying to change it. Gor simply wants to play by the rules. From mmake observation: 1. The poor are the victims of money 2. The middle class think they outsmart their money problems by being smart academically and professionally. The rich outsmart their money problems by being financially intelligent. Financial intelligence is important especially for those who want to be entrepreneurs or investors. It is not that important to those who want to be employees or self-employed.

There are five basic financial IQs. They are:. They stick with what they know. As Kiyosaki sees it, «it is the process that makes you rich, not the money. And remember that the process is more important than the goal.

Real-world financial predators include: 1. Bureaucrats: «Taxes are our single largest expense … Taxes are sold to us as being good for society, and some are. That is why «it is kiyozaki the people who earn the least who pay the highest percentage in taxes. Bankers: Bankers are the biggest financial predators of all.

Brokers: «Broker» is another word for «salesperson. You can differentiate between them by: 1. Attending classes on investing so you can tell an educated broker from a salesperson 2. Look for ylu who are students of their profession 3. Know if they invest in what they are selling 4.

Look for a relationship with your broker, not a transaction 4. Businesses: «All businesses have something to sell. Brothers-in-law: «Those with a high financial IQ have wills, trusts, and other legal means of protecting their wealth and final wishes from death predators. Barristers: They are lawyers mqke want to take your money using the court. There things you can do to protect yourself from them: 1. Buy personal liability insurance immediately.

You must buy it before you need it 3. Budget deficit: «Excess of spending over income, for a government, corporation, or individual. When faced with a financial problem, most people reduce their spending instead of increasing their income. Budget surplus: worl of income over spending for a government, corporation, or individual over a particular period of time. You can create it by increasing income, not reducing expenses. Dor your money like a rich monsy. Try to save and invest as much as you can no matter how much money you dork.

Lessons about budgeting for a budget surplus: Budget Tip 1: A budget surplus is an expense. Budget Tip 2: The expense column is the crystal. Budget Tip 3: Make your money work for you robert kiyosaki assets pay for my liabilities. Before purchasing your luxury liabilities, you should require assets by paying yourself. With the cash flow from the assets, you then purchase your luxury liabilities.

Knowing when to spend and when to cut back is a sign of high financial intelligence. There are two types of debt: 1. Good debt: debt that makes you richer and someone else amortizes pay off for you.

And that you have to amortize. Bad debt is debt from a liability. It is all about two financial concepts: control and leverage. When you have control over your income, expense, asset, and liability columns and leverage over your investment, you will not be affected by market crashes. Without control over them, investments become risky. And without control, you should kijosaki use leverage. And without wrk, you cannot put enough money aside for your future, because the more money you robfrt the less valuable it.

When they feel wealthier, they borrow more money leverage and spends more woro on liabilities. Net worth is the value of your possessions minus your yuo. Kiyosaki considers net worth to be worthless for three reasons: 1. Net worth is often an estimate based upon opinions, not facts 2. Net worth is often based upon possessions that have a declining value 3. Net worth going up is often caused by the dollar going down For him, the value of his apartment house is not based upon inflation or the price of the building.

It is based upon the rent his tenants pay. Investments in paper assets such as savings, stocks, bonds, mutual funds, and index funds lack control. There are seven points about leverage and control: Point 1 There are many types of leverage Point 2 Most investors invest in paper assets, assets they have very little control over Point 3 An robeet in returns does not mean an increase in risk Point 4 Most financial advisors are yku investors Point 5 Financial education increases financial intelligence Point 6 Leverage can work in two ways Point 7 When most financial advisors recommend diversification, they are not really diversifying Investors invest for two things: 1.

Capital gain — Woek is like gambling. More risky and yoyr money. Cash flow — It is investing for income. Less risky and less money. So there are three types of investors: 1. Those who invest only for capital gains They are traders in the world of stocks and kjyosaki in the real estate market.

Those who invest only for cash flow 3. Those who invest for capital gains as well as cash flow Kiyosaki occasionally buy paper assets, but for cash flow, not capital gains.

Three important points: 1. Being born poor and financially uneducated does not kiyosako you cannot become rich 2. Start small and take baby steps 3. Dream big. The Hunter-Gatherer Age: There was only one class of people. Everyone was poor. The Agrarian Age: There were two groups, the rich and the peasants. The Industrial Age: There were three groups, the rich, the middle class, and the poor.

The Information Age: There are four groups, the poor, joney class, rich, and super-rich. That is why we need to classify information according to: 1. Credibility 3.

Classification: Have access to inside information 4. Relative information: Watch the trends 5. Deceptive information: Like «the pump and dump» and «the sleight of hand. A cash flow investor invests for facts. If kiyosaoi, a smart investor will invest cor both opinion and facts, and invest for both cash flow and capital gains.

Lesson 5: What are the rules? Having good accountants and lawyers is important if you want to be rich.

Two important things: 1. Rules provide a valuable source of information about how the game of money is played. Without rules, assets decline in value. Lesson 6: Trends. Global vs. Real estate is priced in local market.

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Volume If you do, it means you are growing and personal growth inside, is what you need … urgently. He is a hypocrite that disguises bad financial advice with good ones and makes millions. Maria LaMagna. If he did businesss in his own name and they sued him, he could lose. Absolute waste of money and a leave taken from work. Robert Kiyosaki is most well-known for his Rich Dad book series. I am one of those marketers who find financial freedom thanks to Mr. Original publish date: June 19, I signed up for the 1st free one. You clearly missed the entire purpose of the book. You don’t need to be an expert, have an MBA, or even study personal finance books cover-to-cover to acquire financial intelligence. If it looks more like the right column than the left column above, then you will have a hard time ever getting rich. To help us stay accountable, we hired our bookkeeper Betty. Reminds me about your tweet the other night about splitting the tip!