The rich don’t work for money, they work for assets. Assets put money in your pocket even when you are on vacation. Liabilities take money out of your pocket, therefore your house is a liability
WHOSE IT FOR:
For the beginning investor to understand the many benefits of real estate and the difference between good debt and bad debt. Also good for an advanced investor who never learned about the four categories of taxes and wealth creation.
“The book changed my life and it will change yours. If you want change read this book, get involved in REIA and take action. Don’t over think it, just do it.”
Wealthy people buy assets first, and then let their assets buy their luxuries from the surplus cash flow.
Wealthy people continuously increase their assets by reinvesting their surplus cash flow in more assets. There are three primary asset classes: Real Estate, Businesses, and Paper assets (stocks bonds notes, etc).
Cash Flow is more important than Net Worth. Net Worth is similar to potential energy, to use it you have to spend it, then it is gone. Cash Flow is like power from a hydroelectric dam, constantly replenished.
Robert Kiyosaki, author of Rich Dad Poor Dad is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.
In communicating his point of view on why ‘old’ advice – get a good job, save money, get out of debt, invest for the long term, and diversify – is ‘bad’ (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage.Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher’s Weekly – The New York Times, Business Week, The Wall Street Journal and USA Today – and was named “USA Today’s #1 Money Book” two years in a row.
It is the third longest-running ‘how-to’ best seller of all time.Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe. In 2005, Robert was inducted into Amazon.com Hall of Fame as one of that bookseller’s Top 25 Authors. There are currently 26 books in the Rich Dad series.In 2006 Robert teamed up with Donald Trump to co-author Why We Want You To Be Rich – Two Men – One Message. It debuted at #1 on The New York Times bestsellers list.Robert writes a bi-weekly column – ‘Why the Rich Are Getting Richer’ – for Yahoo! Finance and a monthly column titled ‘Rich Returns’ for Entrepreneur magazine.
Prior to writing Rich Dad Poor Dad, Robert created the educational board game CASHFLOW 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. It was those same strategies that allowed Robert to retire at age 47.
Today there are more that 2,100 CASHFLOW game groups in cities throughout the world.Born and raised in Hawaii, Robert Kiyosaki is a fourth-generation Japanese-American. After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot. Following the war, Robert went to work in sales for Xerox Corporation and, in 1977, started a company that brought the first nylon and Velcro ‘surfer wallets’ to market. He founded an international education company in 1985 that taught business and investing to tens of thousands of students throughout the world. In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad.