finance
Our school system, created in the Agrarian Age, still believes in homes with no foundation. Dirt floors are still the rage. So kids graduate from school with virtually no financial foundation. One day, sleepless and deep in debt in suburbia, living the American Dream, they decide that the answer to
finance
The point is this: Today we live in times of greater and faster change than these men did. I suspect there will be many booms and busts in the coming years that will parallel the ups and downs these men faced. I am concerned that too many people are too
finance
“Remember what I said before: A job is only a short-term solution to a long-term problem. Most people have only one problem in mind, and it’s short-term. It’s the bills at the end of the month, the Tar Baby. Money controls their lives, or should I say the
history
Soon there will be such a horrifying gap between the rich and the poor that chaos will break out and another great civilization will collapse. History proves that great civilizations collapse when the gap between the haves and have-nots is too great. Sadly, America is on that same course because
finance
“Rich people included,” said rich dad. “In fact, the reason many rich people are rich isn’t because of desire, but because of fear. They believe that money can eliminate the fear of being poor, so they amass tons of it, only to find the fear gets worse. Now they
finance
Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive? (Location 1098) Money should age like a fine wine. The grain silo of old money is a anxiety cleanser. When I say mind your own
finance
So while I’m not yet rich, I am wealthy. I now have income generated from assets each month that fully cover my monthly expenses. If I want to increase my expenses, I first must increase my cash flow to maintain this level of wealth. (Location 1108) By using percentages
finance
My next goal would be to have the excess cash flow from my assets reinvested into the asset column. The more money that goes into my asset column, the more my asset column grows. The more my assets grow, the more my cash flow grows. And as long as I
finance
Financial struggle is often the result of people working all their lives for someone else. (Location 1165) Struggle = month to month subsistence type living (202301110102, 202301130002), always on the financial back foot Because the incentive of any owner is to pay the lowest amount possible for an employee, the employee
finance
As a young boy, my educated dad encouraged me to find a safe job. But my rich dad encouraged me to begin acquiring assets that I loved. “If you don’t love it, you won’t take care of it.” I collect real estate simply because I love buildings and
finance
Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities. (Location 1219) The ideal path is to have a three part pie graph with moving percentages: 1. Working for others 2. Working for yourself 3. Having assets work for you You should leverage #1
finance
Understand the difference between an asset and a liability, and prioritize buying assets that will generate cash flow to pay for a house instead of incurring a home-equity loan. Why The Home Mortgage Interest Tax Deduction is a lie for most people.