8/10/2023 0 Comments Cash flow 101![]() ![]() If you want to be rich, this is all you need to know. You must know the difference between an asset and a liability, and buy assets. Lesson 2: It’s not how much money you make. If a young person can read these ideas, internalize them, and take action, they can become quite wealthy at a relatively young age. What a valuable concept! I wish I had learned this when I read the book the first time. I’ve learned to put my money to work for me and enjoy the tax benefits of generating income that doesn’t come from a paycheck. High-paying jobs mean two things: you’re working for money and the taxes you pay will probably increase. The rich have money work for them.īuying or building assets that deliver cash flow is putting your money to work for you. Lesson 1: The poor and middle class work for money. Here are some of the lessons I learned from the book… I bought a hard copy of the Rich Dad Poor Dad from National Book Store and it was the first book I read this year. Many authors and successful people recommended the Rich Dad Poor Dad, so I thought, “I need to go back and read that book.”Īnd that’s what I did. Then pandemic came and I started reading self-help books. Robert Kiyosaki and the book have received support from Oprah Winfrey, Will Smith, Donald Trump, and more. While there are many critics of the book, there’s also no doubt the book has been a massive success. That the author, Robert Kiyosaki, is a fraud/cheat/swindler/you-name-it.That there was no rich dad - it’s a fictional account being presented as fact.Maybe because I was bothered by these controversies: I considered a re-read a few times, but for some reason I couldn’t finish reading it.
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