Lesson 3 - Deepstash
Lesson 3

Lesson 3

The rich don't work for money; money works for them.

The rich use their money to make more money. They invest in assets that generate income, such as real estate, stocks, and businesses. The poor work for money and spend it as they earn it.

125

1.15K reads

CURATED FROM

IDEAS CURATED BY

10 lessons from Second Chance: for Your Money, Your Life and Our World by Robert. Kiyosaki and Tim Wheeler.

โ€œ

Similar ideas to Lesson 3

Passive and Portfolio Income:

When my rich dad said, โ€œThe rich donโ€™t work for money.ย They have their money work for them,โ€ he was talking about passive income and portfolio income.

Passive incom...

Active vs Passive Income

Active vs Passive Income

There are 2 types of income:

Active Income: You are trading time for money. In order to make money you must perform something. Every day you start from zero.

Passive Income: You do not have to be present to generate income. Things like real estate...

A Stoic Way To Invest Your Money

First manage the money you do have, then use your money to generate more money. You don't need to think about investing until you're out of debt and have multiple ways of generating income.

  • Use the 90/10 rule, where only 10% is used on speculation.

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

โ€”

100+ Learning Journeys

โ€”

Access to 200,000+ ideas

โ€”

Access to the mobile app

โ€”

Unlimited idea saving

โ€”

โ€”

Unlimited history

โ€”

โ€”

Unlimited listening to ideas

โ€”

โ€”

Downloading & offline access

โ€”

โ€”

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates