rich dad financial statement
Robert Kiyosaki was born in in Hilo, Hawaii. He had 2 Fathers growing up his biological father is referred to as poor dad while rich dad was the father of his best friend Mike. Poor Dad was highly educated and intelligent the other dad never finished the eighth grade.
Why Teach Financial Literacy?
Both men had contrasting points of view about money: one of a rich man and one of a poor man. Being a product link two strong dads, Robert would shape his financial future and fully grasp the power of money. Robert and his friend Mike attended a public school where they were deemed as the poor kids. Xtatement led Robert to ask his dad how do I become rich? Rich dad owned some restaurants, warehouses, a construction company, and a chain of stores.
The lesson begins with rich dad giving Robert and Mike a few menial jobs on the weekends with very little to no pay. After a few weeks, Robert loses his mind and confronts rich dad. Rich Dad says a job is a short-term solution to a long-term problem. When life pushes you around you can either give up or fight, it means you need to learn something.
Instead, you can do what the rich do and make money work for you. The poor and the middle-class work for money. The rich have money to work for them. Fear of not making money and greed of losing it all.
The Rich Don’t Work for Money
This is the pattern of the rat race. Once you being to use your head, you see what others miss and an opportunity arises. Rich People acquire assets The poor and middle class acquire liabilities that they think are assets.
Simply put, an asset is what puts money in your pocket while a liability is what takes money out of your pocket. Financial Literacy is important because we are not taught about money in schools. Wealth is the number of days a person can survive days forward add working. Cash flow tells the story of how a person handles money. To which they replied the hamburger business. Financial Struggle rich dad says is often the result of rich dad financial statement working all their lives for someone else. One way to get through this trap is to buy income-generating assets like Stocks, Bonds, Notes IOUsand income-generating rich dad financial statement estate. Start Minding your own business do not quit ststement daytime job but https://digitales.com.au/blog/wp-content/custom/japan-s-impact-on-japan/ethics-game.php buying real assets and not liabilities, which will generate passive income.
The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth. Playing games is a great way of learning and they are instant feedback systems. Job Read article meant everything to poor dad while learning meant everything to rich dad. A Business Consultant once said most people are just one skill away from greatness.
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Doing a variety of jobs gives a variety of experiences. The primary difference between a rich person and a poor person is how they manage fear. The 5 Biggest obstacles which people face while trying to become financially independent are:.]
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