Save on all your Printing Needs at 4inkjets.com!

Rich Dad Poor Dad By Robert Kiyosakli

By: Joseph Yamin

Page 1, Advices of making Passive Income. Let Money work for you instead of working for Money. Several ways of investing one\'s Money. Don\'t be afraid to loose some Money if you are taking calculated risk or you are sure that the bargain is in your favour otherwise you will never be rich.

Rich Dad Poor Dad By Robert Kiyosaki –book review

 

Robert Kiyosaki tries in his book to teach us that acquiring high education, will

not necessarily bring us wealth, since nobody teaches you in school how to make money. He explains that people who buy a house by taking a mortgage don’t really possess an asset, but rather are chained into a commitment which called liability. In order to posses a real valuable asset, it needs to be mortgage free and bare an income, such as rent .

A young coupe from anywhere in the world and especially from the US, who purchases a mortgaged house, a new car and electric appliances by credit – is enslaving themselves and their monthly paycheck for paying debts, and they are unable to save money. The moment one or both of them loses his/her job they might find themselves homeless and helpless, after the bank has confiscated their house to pay their debts.

Kiyosaki advises us start saving money as early as 20 years old. Invest the savings in bonds, stocks, real estate for rent, or a small business. Only after accumulating enough of these assets, that supply passive income, you should consider purchasing a private house or a new car.

You should look for bargains in real estate or in stock exchange. Don’t be afraid to take calculated risks. This way, as the years go by, you can produce passive income sources. Let your money work for you instead of working for money. The way you usually do when you work for your monthly paycheck, enslaving yourself to the job, being dependant on one source of income, and your boss.

Kiyosaki advises not to put all the eggs in one basket, but to distribute them among many baskets. Meaning investing your money in various prospects such as: Bonds, Stocks, Real Estate or a small business/company of our own.

 

Wise expressions from the book:

  • “If you’ll do the same thing every day, you’ll get the same results. If you wish to get a different result, you must change one or more factors you do today.”
  • “Most people dream about wealth but are afraid to lose money, that’s why they will never get rich.”
  • “When you learn to ride a bicycle, you fall several times, you get several bruises, and eventually some scars remain. The same applies to a business in which you have a strong wish to succeed. You fall. You get up and try again. Fran Tarkenton ounce said: ‘winning, means not being afraid of failure.”

© Copyright 2014Joseph Yamin All rights reserved. Joseph Yamin has granted theNextBigWriter, LLC non-exclusive rights to display this work on Booksie.com.

© 2014 Booksie | All rights reserved.