It becomes my job.”Īccording to Kiyosaki, real assets fall into the following categories: “ If I have to work there, it’s not a business. Kiyosaki says he owns business that do not require his presence. “Keep expenses low, reduce liabilities, and diligently build a base of solid assets.” “A new car loses nearly 25 percent of the price you pay for it the moment you drive it off the lot.” “One of the main reasons net worth is not accurate is simply because, the moment you begin selling your assets, you are taxed for any gains.” “The primary reason the majority of the poor and middle class are fiscally conservative-which means, ‘I can’t afford to take risks’-is that they have no financial foundation.” “Financial struggle is often the result of people working all their lives for someone else.” “To become financially secure, a person needs to mind their own business.”
They spend their lives minding someone else’s business and making that person rich.” “The mistake in becoming what you study is that too many people forget to mind their own business. “Financial struggle is often directly the result of people working all their lives for someone else.” “The rich focus on their asset columns while everyone else focuses on their income statements.” The middle class buy liabilities they think are assets.” “Wealth is a person’s ability to survive so many number of days forward-or, if I stopped working today, how long could I survive?”
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You need to learn how to have your increased efforts benefit you and your family directly.” “The problem with simply working harder is that each of these three levels takes a greater share of your increased efforts. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets.
“Many financial problems are caused by trying to keep up with the Joneses.” “A person can be highly educated, professionally successful, and financially illiterate.” “The fear of being different prevents most people from seeking new ways to solve their problems.” “More money seldom solves someone’s money problems.” “The number-one expense for most people is taxes.” “Most people don’t understand why they struggle financially because they don’t understand cash flow.” “Cash flow tells the story of how a person handles money.” “Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know.” “Illiteracy, both in words and numbers, is the foundation of financial struggle.” A liability takes money out of your pocket. “You must know the difference between an asset and a liability, and buy assets.”Īn asset puts money in your pocket. “Intelligence solves problems and produces money.” “Thinking that a job makes you secure is lying to yourself.” “So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day.” “People’s lives are forever controlled by two emotions: fear and greed.” “Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.” “There is a difference between being poor and being broke.
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