Tag: businessentrepreneur

Rich Dad Poor Dad | S5 – E21 |You Become What You Study

A problem with school is that you often become what you study. So if you study cooking, you become a chef. If you study the law, you become an attorney, and a study of auto mechanics makes you a mechanic. The mistake in becoming…

Rich Dad Poor Dad | S5 – E20 |Lesson III | Mind Your Own Business

In 1974, Ray Kroc, the founder of McDonald’s, was asked to speak to the MBA class at the University of Texas at Austin. A friend of mine was a student in that MBA class. After a powerful and inspiring talk, the class adjourned and…

Rich Dad Poor Dad | S5 – E19 | Building Excess Cash-flow

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? Unlike net worth—the difference between your assets and liabilities, which is often filled with a person’s expensive junk and opinions of…

Rich Dad Poor Dad | S5 – E18 | The Risk Faced by Average Middle-Class People

The real tragedy is that the lack of early financial education is what creates the risk faced by average middle-class people. The reason they have to play it safe is because their financial positions are tenuous at best. Their balance sheets are not balanced….

Rich Dad Poor Dad | S5 – E17 | The Richer get Richer like THIS

I’m going to give you two financial statements: poor dad’s and rich dad’s. First thing is first, we have the income statement and balance sheet. Poor dad’s financial statement is right down the middle; 50/50. Income takes up half and expenses take up half….

Rich Dad Poor Dad | S5 – E16 | In Summary about Homes

In summary, the end result in making a decision to own a house that is too expensive in lieu of starting an investment portfolio impacts an individual in at least the following three ways: Loss of time, during which other assets could have grown…

Rich Dad Poor Dad | S5 – E15 | Many Financial Problems are Caused by Keeping Up with The Joneses

No, this isn’t the Gary Vee rant. This is what Robert Kiyosaki wrote in his book decades ago. That is why my educated dad said the Japanese valued the power of the mirror the most, for it is only when we look into it…

Rich Dad Poor Dad | S5 – E14 | How the Quest for a Financial Dream Turns into a Financial Nightmare

Recently married, the happy, highly educated young couple moves into one of their cramped rented apartments. Immediately, they realize that they are saving money because two can live as cheaply as one. The problem is the apartment is cramped. They decide to save money…

Rich Dad Poor Dad | S5 – E13 | Understanding | Get Rich Quick? TERRIBLE Decision

The reason I started with the story of the richest men in Americais to illustrate the flaw in believing that money will solve all problems. That is why I cringe whenever I hear people ask me how to get rich quicker, or where they…

Rich Dad Poor Dad | S5 – E12 | Assets vs. Liabilities | What’s Your Cash-flow Pattern?

Are you a poor, middle, or rich cash-flow possessing individual? Well, let me try to break this down in blog form. If you want the amazing podcast, make sure you scroll down to the bottom for it. Cash-flow of a poor person Your job…