Learn more about books with this collection
The differences between Web 2.0 and Web 3.0
The future of the internet
Understanding the potential of Web 3.0
Understand the difference between an asset and a liability; and grow your income-generating assets' column.
Wealth measures how much money your money is making and, therefore, your financial survivability.
Once a dollar goes into assets, never let it come out.
Think of it this way: Once a dollar goes into your asset column, it becomes your employee. The best thing about money is that it works 24 hours a day and can work for generations.
We all have tremendous potential, and we all are blessed. Yet the one thing that holds us back is some degree of self-doubt. It is not so much the lack of technical information that holds us back, but more the lack of self-confidence.
There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow.
The five reasons are:
We play the “What if?” game. “What if the economy crashes right after I invest?” Or we have friends or loved ones who will remind us of our shortcomings. They often say, “If it’s such a good idea, how come someone else hasn’t done it?”
These words of doubt often get loud.
Rich Dad believed that the words "I can't afford it" shutdown your brain.
"How can I afford it?" opens up possibilities, excitement and dreams
In the stock market, I often hear people say, “I don’t want to lose money.” Well, what makes them think I or anyone else likes losing money? They don’t make money because they choose to not lose money.
Instead of analyzing, they close their minds to another powerful investment vehicle, the stock market.
When people ask me what my reason for wanting to be rich is, I tell them that it is a combination of deep emotional “wants” and “don’t wants.”
Don’t listen to poor or frightened people. I have such friends, they are the Chicken Littles of life. To them, when it comes to money, especially investments, it’s always, “The sky is falling! They can always tell you why something won’t work.
But people who blindly accept doom-and-gloom information are also Chicken Littles.
One of the hardest things about wealth-building is to be true to yourself and to be willing to not go along with the crowd.
The power of self-discipline If you cannot get control of yourself, do not try to get rich. It makes no sense to invest, make money, and blow it.
1. Don’t get into large debt positions that you have to pay for. Keep your expenses low. Build up assets first. Then buy the big house or nice car. Being stuck in the Rat Race is not intelligent.
2. When you come up short, let the pressure build and don’t dip into your savings or investments. Use the pressure to inspire your financial genius to come up with new ways of making more money, and then pay your bills. You will have increased your ability to make more money as well as your financial intelligence.
When you get into financial hot water; use your brain to create more income while staunchly defending the assets in your asset column. And be like a good soldier defending the fort—Fort Assets.
As a habit, I use my desire to consume to inspire and motivate my financial genius to invest.
Choose heroes: the power of myth
By having heroes, we tap into a tremendous source of raw genius.
“If they can do it, so can I.”
Whenever you feel short or in need of something, give what you want first and it will come back in buckets. That is true for money, a smile, love, or friendship.
Often just the process of thinking of what I want, and how I could give that to someone else, breaks free a torrent of bounty.
Start early. Buy a book. Go to a seminar. Practice. Start small. I turned $5,000 cash into a one-million-dollar asset producing $5,000 a month cash flow in less than six years. But I started learning as a kid. I encourage you to learn, because it’s not that hard. In fact, it’s pretty easy once you get the hang of it.
The Three Incomes In the world of accounting, there are three different types of income:
When my rich dad said, “The rich don’t work for money. They have their money work for them,” he was talking about passive income and portfolio income.
Passive income, in most cases, is income derived from real estate investments. Portfolio income is income derived from paper assets such as stocks and bonds.
Portfolio income is the income that makes Bill Gates the richest man in the world, not earned income.
Rich dad used to say, “The key to becoming wealthy is the ability to convert earned income into passive income or portfolio income as quickly as possible.”
He would say, “Taxes are highest on earned income. Th e least-taxed income is passive income. That is another reason why you want your money working hard for you. Th e government taxes the income you work hard for more than the income your money works hard for.”
Before success comes in any man's life, he is sure to meet with much temporary defeat, and, perhaps, some failure.
When defeat overtakes a man, the easiest and most logical thing to do is to QUIT. That is exactly what the majority of men do.
When failures come along the way, always know that you're close to success🔥
MORE LIKE THIS
Robert T. Kiyosaki
Robert T. Kiyosaki
Robert T. Kiyosaki
Ready for the next level?
Read Like a Pro
Explore the World’s
Save ideas for later reading, for personalized stashes, or for remembering it later.
# Personal Growth
Take Your Ideas
Just press play and we take care of the words.
No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.
Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.
2 Million Stashers
Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.
Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.
Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.
This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!
I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!
Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.
Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.
Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.
Read & Learn
Access to 200,000+ ideas
Access to the mobile app
Unlimited idea saving & library
Unlimited listening to ideas
Downloading & offline access
Claim Your Limited Offer
Get Deepstash Pro
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates