Finance Books. Show Comments. Leave a Reply Cancel reply. Share Article:. It debuted at 1 on The New York Times bestsellers list. It was those same strategies that allowed Robert to retire at age After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot.
He founded an international education company in that taught business and investing to tens of thousands of students throughout the world. In Robert sold his business and, through his investments, was able to retire at the age of During his short-lived retirement he wrote Rich Dad Poor Dad. Rich Dad series have inspired many. When Robert Kiyosaki was 9 years old, he was talking on a beach with his rich dad.
Robert was curious as to how can he afford to buy such a big house. This is because his rich dad was actually not that rich then. So he asked his rich dad, how can we afford to buy such an expensive house? This is where we learn our first lesson.
You must be wondering, how on earth can someone advise this? However, let me explain you the meaning of this statement in detail. He also said this lesson is the most important lesson in the whole book. When Robert was young, he used to work as an employee for his rich dad. His was paid 10 cents per hour. One day, Robert decided to ask for a raise. However, instead of getting a raise, his rich dad cancelled his complete salary. Why did he do that? Work hard in your 9 — 5 job, aim for a promotion, get your salary increased, reduce your expenses.
So you can save more. Or acquire assets for business which counts as expense on your tax statement. Middle-class and salaried people gets their salary which is post-tax tax is already deducted from their income and then they think of investing it.
Most people do not even invest it in right places. The savings account will always offer interest rate which is at par or less than the inflation in any country. Successful businesses re-invest their profit either in their own business or acquire other businesses. From Amazon to Berkshire Hathaway, these companies have hardly paid any dividends to its shareholders and their share prices have rocketed since last decades. Moral of the story: The less income you withdraw, the less you have to pay taxes and more that saved money works for you to grow.
Whenever we talk about expenses, we think of it as bad. However, only bad expenses should be avoided. And you must clearly know what a good and bad expense is. First, they either buy a jet, big boat or an expensive car. Second, they go on an expensive world tour leaving their business aside.
Third, divorced their loyal wife and married someone younger. Spending on books, education, seminars and courses are investments , not expenses. He founded an international education company in that taught business and investing to tens of thousands of students throughout the world. In Robert sold his business and, through his investments, was able to retire at the age of During his short-lived retirement he wrote Rich Dad Poor Dad. Kiyosaki 1.
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