by Robert Kiosaky
What an excellent book.
We all want financial independence and want to escape the “rat race” . Most of us are brought up with the notion that you need to go to school,get good grades so that you can get a good job. We are taught how to work for money. The result is that many of us get caught up in a financial cycle that is hard to get out of. How many of us choose to buy that expensive car and then still take it on residual or get that new fancy ipad, iphone or gadget from takealot? Where as you could have invested that money and make the money work for you.
10 quick lessons from the book(there are plenty more)
- Most people work for money(their job) rich folks let their assets bring in their income
- If I want to buy something, I must first generate enough cash flow from my assets to cover these expenses. Buy luxuries last, not first.
- Do not simply buy investments. First invest in learning about investing
- You will become what you study, so choose your study materials carefully. Find people who are the best in their field. Then study and emulate them
- Know a little about a lot. Learn something about accounting, investing, markets, the law, sales, marketing, leadership, writing, speaking, and negotiating. An investment in knowledge pays the best interest.
- Excess cash flow generated by my assets should be reinvested into other assets.
- Saying "I can't afford it" shuts down your brain. Asking "How can I afford it?" opens up your brain and triggers your financial genius to come up with a creative solution
- Pay yourself first.Each month, first invest a certain amount of money into income generating assets before you pay your bills.
- Failure inspires winners and defeats losers
- Every rich person has lost money at some point, but many poor people have never lost a dime. Playing not to lose money means you will never make money. "Winning means being unafraid to lose."
http://4motivi.com/books/robert/rich.pdf
Robert Kiosaky
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