finance book Ive read so dont really know what to think, It was uhhhh. ok semi informative Not sure how this would really be applied for me specifically but doesnt necessarily mean it was bad.
Probably.stars. Preveden kod nas kao “Tok gotovog novca”, samo preformulisana verzija knjige “Bogati otac siromašni otac”.
Ako ste pročitali bogatog oca, preskočite ovo, Ako niste, predlažem da to pročitate, i još jednom preskočite ovo, Įdomu buvo skaityti ir susipažinti su autoriaus požiūriu į finansus, pinigus ir darbą, Galbūt ne su visom idėjom norisi sutikti, Visgi, sakyčiau, knygoje dėstomos mintys praplėtė akiratį bei leido geriau suvokti ir pažinti save pats kvadrantas, suskirstantis pinigų gavimo būdus, žinios apie investuotojų lygius ir tipus, pasidalinimas savo ir aplinkinių patirtimi.
It was a bit too repetitive, but otherwise as amazing as Rich Dad Poor Dad, کسب ثروت به روش پدر پولدار
This book expands on the concepts presented in sitelinkRich Dad Poor Dad, Don't expect a detailed guide to getting rich Kiyosaki explains that he doesn't write howto books, but rather provides the mental framework that's necessary for gaining great wealth.
He calls it the BEDOHAVE approach: "strengthen your thoughts being so that you can take the action doing that will enable you to become financially free having.
"
Kiyosaki promotes himself as living proof that you can get rich quickly he went from homeless to millionaire inyears, and financially independent in another.
Understandably, he doesn't believe in the "get rich slowly" movement, and thinks you're wasting your time if you do.
He also rejects such other common wisdom as seeking job security, relying on mutual funds, and considering a house an asset.
His promise:
"If you have a secure system that produces more and more money with less and less work, then you really do not need a job, or need to worry about losing your job or need to live life below your means.
Instead of living below your means, expand your means, To make more money, simply expand the system and hire more people",
The last page of the book provides a great summary:
"Your boss's job is to give you a job.
It's your job to make yourself rich, Are you ready to stop hauling water buckets and begin building pipelines of cash flow to support you, your family, and your lifestyle Minding your own business might be difficult and sometimes confusing, especially at first.
. . the hardest part of the process is at the start, Once you make the commitment, life really does get easier and easier, "
The reference to hauling water buckets relates to an analogy at the beginning of the book.
Think of money as water, Most people try to increase their income by working more hours, or carrying more buckets of water.
This is exhausting, and can only get you so far, Instead, it's better to run a business and invest to earn passive income/, represented by building pipelines that provide a constant flow of water.
The book explores Kiyosaki's idea of the Cashflow Quadrant, which divides income generation intoquadrants.
Cashflow Quadrant
E: Employee
has a job
works for the system
values security, certainty, benefits over money
S: Selfemployed
owns a job
is the system
values independence over money
B: Business owner
runs a system in which people work for them
creates, owns, or controls the system
delegates to hired experts
I: Investor
invests money into the system
money works for them
Differences between the left and ride sides
The E and S are on the left, the B and I on the right.
The left side values security, while the right side values freedom,
The right side has more tax advantages,
The right side must be good with financial numbers,
The left side is riskier because you need to live within your means and keep your job.
Differences between an "S" and "B" business
"B" can leave their business for a year or more, and the business will be more profitable when they return.
"S" business would collapse if the owner left,
"S" owns a job, "B" owns a system and hires competent people to operate it.
Additional notes
Become a B before an I because I's invest in B's.
Having a business will give you business sense, plus the free time and money to invest.
Become a higher level investor
Levelsare poor or middle class, and invest unintelligently, if at all.
LevelLongTerm Investor: starts early, uses stocks and mutual funds to get rich in the long term.
LevelSophisticated Investor: uses riskier vehicles like real estate, businesses, new stock issues,
LevelCapitalist: creates investments that create jobs and make others rich,
A house is a liability, not an asset, because it doesn't generate cash, and it costs
you in maintenance and taxes.
Formula for wealth: "build a business and buy real estate" make money with C corporations, and shelter the income in real estate.
Steps to the Financial Fast Track
, Mind your own business
Fill out your personal financial statement
Setandyear financial goals
.
Control your cash flow
Pay yourself first save to invest
Eliminate personal debt
.
Know the difference between risk and risky
Ignorance is risky business and investing aren't
Relying on job security is risky minding your own business isn't
Buying liabilities is risky buying assets isn't
.
Become educated in investing and business
For financial areas outside your expertise,get educated orfind experts
Learn from seminars, classes, trade expos, and media
.
Seek mentors
Find investing and business role models
Thepeople you spend the most time with determine your future
.
Make disappointment your strength
Try new things and expect disappointment, but have a mentor to coach you through the experience
.
Have faith
Believe in yourself
Start today! For those of you who want to take control of your financial future, I recommend the Rich Dad, Poor Dad books.
This is the second book in his series, It will not give you specific details of how to make those changes, It changes the way you think about money and opens your eyes to possibilites, Hopefully, it gives you the courage to make changes in your life to be financially successful.
I know that Robert Kiyosaki's books have made drastic changes to our lives and it was onlyyear ago that my dh read his first book.
After reading Robert's acclaimed novel, Rich Dad Poor Dad, I knew I had to jump to get this book! While its predecessor mainly explains what differentiates the poor and middle class from the wealthy, Cashflow Quadrant outlines how the wealthy ascend to financial freedom, and the levels that are required to equip oneself with financial literacy.
There are four main types of people: E for Employees, S for SelfEmployed, B for Businessman, and I for Investors.
Kiyosaki reiterates time and time again how important it is that the poor and middle classwho usually operate as Es and S'sgain the financial education and mindset they need to be Bs and Is like the rich.
In what were the bestebook pages of myyear old life Yup, I'm a millenial babe!, Kiyosaki lists out the ways the rich operate financially, how they accrue assets unlike liabilities, and how the design of our fiat monetary system is designed so that Bs and Is are more affluent and advantaged than Es and Ss.
I came into this book with a somewhat matured mindset about money, having just read Rich Dad Poor Dad.
But some main points/tips of advice that caught my eye in Kiyosaki's book were the following:
'In the game of money, strive to be the bank, not the banker'
'If you taking the risk when buying property or making any investment for that matter, make sure you're getting paid for it.
In other words, make sure you are not paying to take a loss, '
'Unless you're getting passive income from your house, it is a liability and not an asset'
'Moneydebt.
Remember that. Try to have as few debts as possible, If it's a personal debt, make sure it's small, If it's large debt, make sure someone else is paying for it, '
'The rich protect their money by creating corporate bodies for them while Es and Ss act as human ones.
'
'Es and Ss strive for safety and job security, Bs and Is strive for financial freedom'
'Kennedy was the last president to challenge the Federal Reserve System' more of a fun fact than a financial OMG moment
'Pay yourself first.
Always'
'Investing involves risk something that's inevitable and can only be controlled not extinguished, Being financially uneducated is risky, '
'We are in the Information Age, where the IndustrialAge mindset that the government should give us entitlements like Social Security and Medicare are long outdated.
In the Industrial Age, the cookie cutter formula of 'go to school, get good grades, and get a secure, highpaying job' is an obsolete way of thinking, and yet we continue to base our economy off of that.
'
I also made sure to jot down the list of books that Kiyosaki recommended in Cashflow Quadrant but since this is Feb. and a certain Cheeto in Chief is in office, I won't be reading Art of the Deal anytime soon.
I recommend reading any of these books to expound your insight in economic history, theory, and application, like Kiyosaki said:
The Worldly Philosophers
The Creature of Jekyll Island
Unlimited Wealth
The Sovereign Individual
The Crest of The Wave
The Great Depression Ahead
The Wealth of Nations
I hated myself for it, but I found myself nodding in awe at the points he was making about our failed governmentbacked social welfare system.
Although I'm a big proponent of some of the welfare he renounced, I know that what lies for me in terms of Social Security will most likely, if not definitely be long gone by the time I'm retired.
And throughout this book, I was all too familiar with the highlighter icon on my OneNote because all this man spoke was truth! I may come from an ignorant place, since my only financial experience has been with my allowance, I think in principle, this book gets it.
I was so thrilled the author actually recommended more books for me to quench my appetite for more finance books.
I'm currently on The Creature of Jekyll Island, and hope to put his advice to good practice during college with myk in debt as my net worth!.