Must Reads: "Rich Dad, Poor Dad"
A lesson in taking your own side, and advocating/pursuing your own best interests.
(Disclaimer: The following is for educational and commentary purposes only, and is not financial advice. Some links may provide affiliate program commissions to the author.)
We are in the late-stage looting phase of empire, both in America and the West. You may as well “get that bag” - get rich, or at least take steps to eliminate your dependence upon a job for income - then get out of dodge, and head for greener pastures elsewhere.
“Where do I start?” you might be wondering.
You start by educating yourself in different ways of thinking about money.
One book I recommend everyone MUST read is “Rich Dad, Poor Dad” by Robert Kiyosaki.
If you learn nothing else from reading it, there are two critical lessons you must understand:
Build Businesses, and Buy Real Estate. For centuries, there have only truly been two ways the wealthy have become wealthy, and that is by building a successful business, and especially by acquiring real estate. Think of it this way: How did kings and emperors become kings and emperors, throughout history? They staked their claim to as much land as possible, built their home (a castle) on it, put a crown on their heads, pronounced themselves king or emperor, raised an army to secure the kingdom, and taxed the tenants to pay for all of it. In modern times, landlords who collect rent from their tenants are today’s monarchs. Even better, landlords don’t need an army or a king’s fortune to afford real estate. They can use other people’s money to acquire real estate, be they private investors or a bank, and get tenants to pay their mortgage.
Get on the right side of the Cashflow Quadrant. The Cashflow Quadrant is split into four sectors - Employee, Self-Employed, Business Owner, and Investor. On the left side of the Quadrant are Employees and the Self-Employed. They may work for someone else or work for themselves. However, they cannot stop working, lest their income cease. They have little or no time to enjoy their money, and their income potential is limited, because they have traded their time for money. On the other side of the Cashflow Quadrant are the Business Owners and Investors. These people build assets or invest in pre-existing assets. They leverage teams and other people’s money/assets rather than their own individual effort, getting other people and other people’s money/assets (as well as their own money and assets) to work for them, producing cashflow and profit for themselves and their investors. By doing this, they can scale up their businesses and investments for unlimited income potential. In addition, Business Owners and Investors do not need to be a constant presence at their businesses, or constantly overseeing their investments (if they do, then they’re not truly Business Owners and Investors, just Self-Employed people who have bought themselves a job). Instead, Business Owners and Investors have time to enjoy their money, and income flows whether they work or not.
You can still start here in the West, then venture out to greener pastures in the rest of the world. Or you can immediately venture out to greener pastures. It’s up to you. But whatever you choose, take your own side and ask “Is this good for me? Is this good for my family and my people?” Very often, you will find that the answer is “yes,” because others have dared to ask the same thing, and arrived at the same answer. If they can take their own side, and advocate/pursue their own best interests, then so can you.
Once you’re done reading “Rich Dad, Poor Dad,” continue on with “Cashflow Quadrant,” “Rich Dad’s Guide to Investing,” and “Increase Your Financial I.Q.”
For a master class in real estate investing and business ownership, read the following books by Rich Dad Advisors Ken McElroy and Garrett Sutton:
The ABCs of Real Estate Investing
The Advanced Guide to Real Estate Investing
The ABCs of Property Management
Start Your Own Corporation
Run Your Own Corporation
Buying and Selling a Business
Finance Your Own Business
Writing Winning Business Plans
Don’t just absorb the information and do nothing with it. Mine your network, go to networking events, do whatever you must to put yourself out there and get partnered with mentors who can teach and train you in the direction of success and financial freedom.
Don’t wait to get started. Do it now. If you don’t, then you’ll never do it. So do it now.