Sep2001 - Present22 years 1 month. Everything changed in 2001, when a friend recommended I read a book called Rich Dad Poor Dad by Robert Kiyosaki. The book so perfectly articulated all of my beliefs about money and reignited the passion for investing I had in my youth. Shortly after reading the book, I made the life-altering decision to start RichDad, Poor Dad Claims Real Estate as a Good Investment. Get rich on other people's money, work three hours a week, spend your years traveling and living lavishly. Kiyosaki was recommending such strategies in the run-up to the 2007-8 housing collapse. This strategy seems to be designed to sell books, and funnel consumers through his Its the second book in the Rich Dad Series and reveals how some people work less, earn more, pay less in taxes, and learn to become financially free. I read Rich Dad, Poor Dad many years ago, and frankly I didn't think much of it. The core idea is imperative to understand - poor people buy liabilities, rich people buy assets. A RichDad poor Dad offers a few valuable nuggets to the financially illiterate. Notably that you need income earning assets in a growth market to get rich and that debt (excluding managed leverage) is a sure fire way to remain a serf. He poo poos working for a living but for many a few years work is necessary to build the platform to buy Theauthor of "Rich Dad, Poor Dad" famously predicted the collapse of investment banking company Lehman Brothers in 2008 and has a new prediction about the banking sector. Thisis the cash flow pattern of the middle class: Their pattern on the cash flow statement is considered typical and smart by our society. After all, the people who have this pattern probably have high-paying jobs, nice homes, cars, and credit cards. This is what rich dad called the "working-class dream.". Thekey to success in wholesaling is to negotiate a great deal. The better the deal the easier it is to find an investor and make a great fee. The name of the game in wholesale real estate investing is margin. The larger the potential profit margin for your eventual buyer, the better your fee will be. At5% interest, the payment on the loans would be around $500. So, my cash flow on each property would be $300 a month ($800 in rent - $500 in debt payment = $300 per month) for a total of $1,500 ($300 x 5 = $1,500) per month—an 18% annual return. That is twice as much as if I'd only used my own money to invest. RichDad's CASHFLOW Quadrant G u i d e to Fi n a n ci a l Fre e d om Rich Dad's Guide to Investing Wh a t th e Ri ch I n ve s t i n T h a t th e Poor a n d Mi d d l e Cl a s s Do Not Rich Dad's Rich Kid Smart Kid G i ve You r Ch i l d a Fi n a n ci a l He a d Sta rt Rich Dad's Retire Young Retire Rich Robertcertainly gave them more: He authored (or co-authored) around 30 books since Rick Dad, Poor Dad, including Rich Dad's Classics (2001), Retire Young, Retire Rich (2002), Midas Touch (2011), and many others. Besides that, he also launched a bundle of educational activities and projects under the label of his Rich Global LLC enterprise. Whatthe Rich Invest In That the Poor and Middle Class Do Not! By: Robert T. Kiyosaki. Narrated by: Tim Wheeler. Length: 14 hrs and 27 mins. 4.7 (5,532 ratings) Try for $0.00. Prime member exclusive: pick 2 free titles with trial. Pick 1 audiobook a month from our unmatched collection. Asthe first chapter of Rich Dad Poor Dad states, the rich don't work for money. If the rich don't work for money, what do they work for? Cash-flowing assets, or passive income. See, while most people earn a paycheck at a job, the rich earn money by acquiring cash-flowing assets to cover their expenses. RobertT. Kiyosaki. Best known as the author of Rich Dad Poor Dad — the #1 personal finance book of all time —Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes the world needs more entrepreneurs who will create jobs. Theadvantages of earned income. Earned income is a good choice for those with a low financial IQ. The formula is very simple: "I'll do X job and you'll pay me Y money.". In a good economy, if you do the job well, it's very stable and you can count on a certain amount of money coming into your pocket each month. RichDad Poor Dad from Dymocks online bookstore. What the Rich Teach Their Kids about Money That the Poor and Middle Class Do Not!. PaperBack by Robert T. Kiyosaki Dymocks wishes to acknowledge the Traditional Custodians of the lands on which our stores across the nation work and gather. We pay respect to the Elders past, present and LBxx.

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