Robert Kiyosaki Retire Young Retire Rich Book Summary

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Cash flow is the most important term in the world of money The second most. important is leverage, Leverage is the reason some people become rich and others do not. The reason less than 5 percent of all Americans are rich is because only 5. percent know how to use the power of leverage Many who want to become rich. fail to become rich because they abuse the power And most people do not. become rich because they fear the power of leverage. Your brain can be your most powerful asset or it can be your most powerful. liability If you use the right words in your brain you will become very rich If you. the wrong words your brain will make you poor, Most people take the most powerful leverage in the world their brain and use. that power to make them poor That is not the use of that power It s abuse Every. time you say I can t afford it or I can t do that or Investing is risky or I ll never. be rich you are using the most powerful form of leverage you have to abuse. If you want to be more successful simply watch how kids learn and copy them. One of the things I had to learn was how to overcome the fear of making. mistakes the fear of failing and the fear of being embarrassed Most young kids. know how to do that naturally, Getting rich begins with the right mindset the right words and the right plan. After you have that the action steps are easy, The biggest challenge you have is to challenge your own self doubt and your. laziness It is your self doubt and your laziness that define and limit who you are. If you want to change who you are you must take on your self doubt and your. laziness It is your self doubt and laziness that keep you small It is your self. doubt and laziness that deny you the life you want. There is no one in your way except you and your doubts It is easy to stay the. same It is easy not to change Most people choose to stay the same all their lives. If you will take on your self doubt and your laziness you will find the door to. your freedom,let s set the goal to be financially free.
Rich dad s three paths to great wealth which are,Increasing business skills. Increasing money management skills,Increasing investment. Once you find the why it is easy to find your own how Instead of looking inside. themselves to find their own why for wanting to become rich most people look. for the easy road to wealth The problem with the easy road is that it usually ends. in a dead end, If you find yourself arguing with a good idea you may want to stop arguing. The reason I had decided to do it was because I had found my why I knew why I. was going to do it even though at that moment I did not know how I was going to. do it Without a strong enough why even the easiest how to get rich will be too. hard There are many many ways to get rich but there are only a few personal. reasons why you want to get rich Find your why and then you will find your. how As the old saying goes Where there is a will there is a way For me. finding my will made finding my way possible Without the will the way would. have been way too hard, If you want something be passionate Passion gives energy to your life If you. want something you do not have find out why you love what you want and why. you hate not having what you want When you combine those two thoughts you. will find the energy to get off your seat and go get anything you want. Money does not make you happy That statement has some truth to it But what. money does do is buy me the time to do what I love and pay other people to do. what I hate doing, A suggestion Regardless if you can retire early or not I suggest taking at least an.
hour each month to reflect on your life Taking the time to reflect on my life I. discovered that, What I thought was important was not that important. What was important was where I was at not where I was going. There is no one more important than the person in front of you at that moment. Take that moment to be with him or her,Time is precious Don t waste it Appreciate it. Sometimes stopping for a moment is harder than staying busy For me the best. thing about retiring early was learning to appreciate life even if it was hectic. stressful and filled with problems I found out that I did not know what to do if I. had nothing to do, Today I truly appreciate the hustle and bustle of life because I know what it is. like to sit around doing nothing So whatever state your life is in at present take a. moment to appreciate it because tomorrow it will only be a memory. Why does the government tax your savings but give you a tax break for being in. The poor and middle class have a hard time getting rich because they try to use. their own money to get rich If you want to get rich you need to know how to use. other people s money to get rich not your own, No you don t have to become rock stars to be rich and no television radio and. records are not the only forms of leverage But if you want to become rich you. have to use some form of leverage The difference between the rich the poor and. the middle class is the different forms of leverage each class uses The rich are. richer simply because they use different forms of leverage and they use more of. If you want to be rich you need to know the differences between good debt and. bad debt good expenses and bad expenses good income and bad income and. good liabilities and bad liabilities, People who only work hard have limited leverage If you re working hard.
physically and not getting ahead f inancially then you are probably someone. else s leverage He also said If you have money sitting in the bank in your. savings account or retirement account then your money is someone else s. I often hear people say He got lucky because he was in the right place at the. right time I think a more accurate statement is He got lucky because he was. educated experienced ready and prepared to take advantage of the opportunity. when the opportunity presented itself, The most expensive advice is often free advice It is the advice about money. investments and business that you get from your poor friends and relative. Being rich is not so much what you know but who you know. Leverage is the ability to do more and more with less and less. How can I do what I do for more people with less work and for a better price. even though he did not have the money at that time Instead he spent months. coming up with a plan on how he could afford it He worked hard at taking what. was outside his reality and making it a part of his reality It was not money that. made my rich dad richer It was his ability to expand his reality that ultimately. made him richer and richer, If you want to be successful in life you need to always be respectful of the odds. regardless of how successful you were in the past Every professional blackjack. player knows that just because they drew an ace and a king their last hand it. does not change the odds for their next hand, Losers are people who think that losing is bad Losers cannot afford to lose and. often avoid losing at all costs Many losers bet only on sure things such as job. security a steady paycheck a guaranteed pension and interest from a bank. account Losers keep losing and winners keep winning simply because winners. know that losing is part of winning, Reality change does not necessarily mean bigger or better A change of reality. may simply be a shift in point of view For example instead of saying something. is too risky as many unsophisticated investors say ask instead What is the. risk reward ratio or How many times will I lose before I win Instead of. saying That piece of land is too expensive read a book about a person who. could afford that piece of land or ask someone who could afford that piece of. land and find out how they could afford it The important thing is not the land. but the change in your reality, Opposite Thinking Middle Class Job Security A big house Saving money the rich.
are greedy Rich Building businesses Apartment houses Investing money the rich. are generous, No Learning to build a business is like learning anything else I think clinging to. job security all your life is a lot riskier than taking the risk to learn to build a. business One risk is short term and one risk lasts a lifetime. Anytime I want to earn more money all I have to do is ask myself how I can serve. more people, In rich dad s mind the worst kind of income to work hard for was ordinary. income To him it was the worst income for four main reasons. 1 It is the highest taxed income and it is the income with the fewest controls. over how much you pay in taxes and when you pay your taxes. 2 You personally have to work for it and it takes up your valuable time. 3 There is very little leverage in ordinary income The primary way most. people increase their earned income is by working harder. 4 There is often no residual value for your work In other words you work. get paid and then have to work again to be paid again To rich dad there. was very little leverage in working for ordinary income. Teaching people to spend their lives working for ordinary income is like teaching. someone to be a highly paid slave for life, If you work for job security you will earn less and less the more you work To. me that is too high a price to pay for a little bit of security. It is hard to become rich working for money If you want to become really rich. learn how to build buy or create assets, A suggestion List how much you currently earn a month in the following types of. income 1 Ordinary income 2 Passive income 3 Portfolio income. There are fast ideas and slow ideas just as there are fast trains and slow trains. When it comes to money most people are on the slow train looking out the. window watching the fast train pass them by If you want a faster way to become. rich your plan must include fast ideas choose your exit strategy first. A professional investor always has an exit strategy before they invest Having an. exit strategy is an investment fundamental That is why rich dad also said. Always start at the end before you begin In other words before you get into. investing you need to first know how when where and with how much you. want to exit For example if someone came to you and said What is the first. thing you should do before planning a vacation one answer should be Well. where do you want to go Or if someone asked you What should I study the. answer would be Well what do you want to become after you graduate The. same is true with investing Before deciding what you should invest in you. should first know where you want to wind up That is why rich dad repeatedly. said Knowing your exit strategy is an important investment fundamental. Create a plan that works for you, If you want to retire young and retire rich knowing your genius and the unique.
way you learn is an important part of the plan, The mistake adults make when looking at the future is that they see the future. from their own eyes That is why so many adults cannot see the changes that are. coming If you want to see how the world will be in ten years just watch a fifteen. year old boy or girl Observe the world from their eyes and you will see the. you need to invest in what is going to happen rather than what has already. happened In the world of investing there is a lot of truth to that old saying The. early bird gets the worm, If you are frozen in time stuck in the past dressing like your mom or dad. unprepared or lacking the business and investment skills required you might. not even see the opportunity You will not only miss the window of opportunity. you may take shots at opportunities that are also frozen in time and not going. It s a good start because even if he loses money at minimum he will gain. priceless knowledge and experience, Your future is created by what you do today not tomorrow. SIGHT is what you see with your eyes VISION is what you see with your mind. Words are tools for your brain The reason so many people struggle financially is. because they give their brain old slow and obsolete tools to use If you want to. be rich you first need to update your tools, A person who works hard for ordinary income has to work at least twice as hard. as someone who works hard to earn passive income Working for ordinary. income is like taking two steps forward and then taking one step back. working for money in most cases is slow Finding ways to make money can be. much faster if you know what you are doing So if your plan is to work for money. and then try and save money then you may be swinging your mommy and. daddy s very slow and very dull axe,Slow Words Appreciation Fast Words Depreciation.
Your profit is made when you buy not when you sell. Slow Words Avoid risk Fast Words Gain control, Slow Words Mutual funds Fast Words Regulation D Rule 506. Investing in mutual funds is investing at the end of the food chain. Slow Words Pay retail Fast Words Buy wholesale,Slow Words Buy shares Fast Words Sell shares. Slow Words Go to school Fast Words Go to seminars, You go to school if you want to be a better employee or better professional. person such as a doctor lawyer or accountant If you don t care about degrees. promotions or job security then you go to seminars Seminars are for people. who want better financial results than a job promotion or increased job security. The big difference was that my plan was a rich plan from the start It was a plan. 4 There is often no residual value for your work In other words you work get paid and then have to work again to be paid again To rich dad there

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