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rich dad poor dad cashflow quadrant (cashflow quadrant: the way people…
rich dad poor dad cashflow quadrant
''thinking is the hardest task there is thats why not many people do it' Henry Fort
'leadership is the ability to get the best out of people' Rich dad
'doing the technical tasks is the easiest working with people is the hardest'
the system in place is more important than the product (mcdonalds)
cashflow quadrant: the way people generate their money:
business owner
you own a system
investor
money works for you
solopreneur
you own a job
employee
you got a job
you are wealthy when your passive income is bigger than your liabilities.
definition of wealth: how many days can you survive without having to work it gets measured in time not money
problem of pension: employees who dont like and dont know investing are now forced to make investment decisions
people spread their investments they play not to lose good investors( warren buffet) invest concentrated they play to win
learn the game of investing most investment advicers dont generate the majority of their income from their investments
dont avoid risk learn how to handle risk
be carefrul from what quadrant other peoples advice comes from
'you will never experience true freedom wothout learning to invest' Rich dad
invest to get cashflow not to expect increase in value
dont think in term of return on investment think of return of information
to be financially intelligent you have to know the difference between facts and opinions
being an employee is not a logical choice (its not safer) its an emotional choice(fear)
if you take personal credit make sure its not much if you take much credit make sure that someone else pays for it
how to build wealth in 4 steps
know the difference between between risk and riksy(not knowing is risky)
Be an educated investor (invest time and money to learn the skills
create a positive cashflow
1 take 100% responsibility