The middle class buy liabilities they think are assets.” “Wealth is a person’s ability to survive so many number of days forward-or, if I stopped working today, how long could I survive?” You need to learn how to have your increased efforts benefit you and your family directly.” “The problem with simply working harder is that each of these three levels takes a greater share of your increased efforts. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets. “Many financial problems are caused by trying to keep up with the Joneses.” “A person can be highly educated, professionally successful, and financially illiterate.” “The fear of being different prevents most people from seeking new ways to solve their problems.” “More money seldom solves someone’s money problems.” “The number-one expense for most people is taxes.” “Most people don’t understand why they struggle financially because they don’t understand cash flow.” “Cash flow tells the story of how a person handles money.” “Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know.” “Illiteracy, both in words and numbers, is the foundation of financial struggle.” A liability takes money out of your pocket. “You must know the difference between an asset and a liability, and buy assets.”Īn asset puts money in your pocket. “Intelligence solves problems and produces money.” “Thinking that a job makes you secure is lying to yourself.” “So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day.” “People’s lives are forever controlled by two emotions: fear and greed.” “Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.” “There is a difference between being poor and being broke. Lesson 6: Work to Learn-Don’t Work for Money.Lesson 4: The History of Taxes and The Power of Corporations.Lesson 2: Why Teach Financial Literacy?.Lesson 1: The Rich Don’t Work for Money.The single most powerful asset we all have is our mind.Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.The poor and middle class acquire liabilities that they think are assets. It’s not how much money you make that matters.The poor and the middle-class work for money.You don’t need to earn a high income to be rich.Rich Dad Poor Dad is about Robert Kiyosaki and his two dads-his real father (poor dad) and the father of his best friend (rich dad)-and the ways in which both men shaped his thoughts about money and investing.(Includes exercises not included in the post.) The Book in Three Sentences Dustin Heiner from the Master Passive Income Podcast reveals his real estate investing business and rental property strategies that he used to quit his job at the age of 37.Free Download: Download a free PDF version of this book summary. With passive income and monthly cash flow, Dustin is now successfully unemployed and is financially independent having enough money, time, and control to do what ever he wants. Rich Dad, Poor Dad ‘s cash flow chart offers a unique idea.ĭiscover how you can create your own real estate investing business from scratch so you can live the dream life and do what you love. Travel the world, spend time with your family and friends, devote more time to your hobbies, or anything else, you will have the freedom and money to do whatever you want. When you work for an employer, you get paid only a fraction of the value that you generate for the employer (otherwise, if the business would go bankrupt). Your work may allow your employer to earn 100k in sales that year, yielding a clean profit. Dustin is just a normal person who found the secret to support his family, travels all over the world, and does whatever he wants with the income his real estate rental business provides. The systems Dustin has created allows him to travel the world, 6 week vacation in Japan, 6 week vacation all throughout Europe, road trips around the United States, and doing whatever he wants and only works 2 hours a MONTH! You too can quit your job, retire early, and live the dream life with passive income and rental property investing. Dustin teaches his business as well as will interview successful passive income investors like himself.
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