When you go through high school, they do not teach you about money:
Growing up, Robert Kiyosaki had two people who he describes in his books. Rich Dad was his friends dad who was worth millions but did not have any flashy toys. His Poor Dad was his real dad and was not worth much, lived day by day and had all the flashy toys.
The greatest advice that comes from these books is to generate a cashflow that will pay for your “new car” so that once the car is paid off, you still have money coming in.
Most of the world is in the rat race which is an endless, self-defeating pointless pursuit to riches. One cannot make a fortune working for someone else. Robert Kiyosaki created a board game to help you build financial literacy and Escape the Rat Race.
Employees Are Told:
- When to start work
- When they can leave work
- When they can have a vacation
- How long the vacations are
- When they get a raise
- What their worth
- If they want a raise, they work harder
- If they want time off, they schedule it
- Don’t forget the tax benefits
Do not think being a business owner is easy. They work harder and longer than employees do. Successful business owners work 60-100 week with no overtime pay.
When you start as a business owner, you work solely off of delayed income. Unlike employees, it may take time to start making money to put into your pocket.
Practice Delayed Gratification
- Withhold from something pleasurable
- Do something you really dislike
- Set a goal for to achieve in the activity you dislike
- Once you meet that goal, REWARD yourself with what you are withholding from
This is what the rich teach their kids that the poor and middle class do not. The key to wealth is delayed gratification.
When you invest your money you may be broke for years but then you will have 10x-20x more money than before. You withheld from buying that pleasurable new car and penny pinched which was unpleasant. After years or decades of doing this, you reward yourself with wealth.
There is a quiz that Robert Kiyosaki put in the beginning of the book as an introduction to get you on the journey to financial freedom.
TAKE THIS QUIZ:
- Do you sometimes feel that what you’re learning in school has nothing to do with your life?
- Do you feel that school is not really preparing you for the real world?
- When you want to buy something that is important to you, do your parent’s usually say they can’t afford it?
- Do you secretly worry that you won’t be able to live the way you want when you’re out on your own?
- Do you really want to learn about money, but no one talks about it around your house or school?
REMEMBER: This is an investment of your time and money. You can write it off on your taxes, save the receipts.