Check out 2nd book from Robert Kiyosaki called INCREASING YOUR FINANCIAL IQ - ua-cam.com/play/PLlbl0lCipVeM3Ci3pG5GaiVcL01UMw9Z4.html&si=WTciMOspeBEQuvcp
big returns come from investing big. investing big comes from building conviction, conviction comes from understanding, understanding comes from doing your homework and research beyond surface level.
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
Lauren Camille Brown is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
In my view, staying invested is not just a financial strategy; it's a philosophy that aligns with long-term wealth-building. Markets have their ups and downs, but history has shown that, over time, they tend to appreciate. By weathering the short-term fluctuations and remaining invested, one has the opportunity to benefit from the compounding effect, capitalize on market recoveries, and achieve financial growth. Staying invested requires patience, discipline, and a focus on the bigger picture - a strategy that, in the journey towards wealth, has proven to be consistently rewarding.
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
I have set aside $30k since the start of the year, but I've been hesitant to go into the market by myself because of fear of a crash. How about you recommend your financial advisor, please? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Lauren Camille Brown” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I have the book & read it cover to cover. This vid put it all in a way that I learned from it, the book is good but I didnt learn. Still worth having though.
I must say you are an inspiration because I started up investing and trading as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and bought my first house through it
As a beginner, educate yourself: Learn the basics of investing and the stock market. There are many resources available online , including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk.
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
Wow! This is just mind-blowing. I have set aside $80k since the start of the year, but I've been hesitant to go into the market by myself because of fear of a crash. How about you recommend your financial advisor, please? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
TLDR Rich Dad: Emphasizes the importance of financial education. Advocates for assets that generate passive income (investments, businesses). Believes in taking calculated risks to achieve wealth. Poor Dad: Focuses on traditional education and job security. Encourages working for a stable paycheck and saving money. Believes in avoiding risks and sticking to the conventional path. Key lessons: Invest in Assets: Acquire income-generating assets rather than liabilities. Mindset Shift: Develop a mindset geared toward financial independence and entrepreneurship. Financial Education: Continuously educate yourself about money and investing. Ultimately, the book encourages readers to challenge conventional beliefs about money, work towards financial literacy, and strive for financial independence.
The more knowledge you have about money, the more you make it work for you. You can have two people that make the same income but one be a saver and one be a spender.@HubertoMadalena-rz4xs
@@HubertoMadalena-rz4xs It's meant to give you a #mindset that will make you start investing so as to not work for money , but to make money work for you...
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I read this book about 15 years ago. Many of the lessons are sound. I was living paycheck to paycheck. I now own a home with over half a million in equity. Do not constantly budget to make sure bills are going to be paid. I am an active stock trader. While the market was going red my account was running greener then ever. Take the time to learn as much as you can about money and how it works. I will not happen over night. Also some background, I am native american and grew up very poor. I did not have running water and had electricity via generator. you can do it, just one step at a time and belief in yourself.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
I found her page by searching for her entire name online. After that, I emailed her and we set up a meeting so we could talk; I'm currently waiting on her response.
Listening to this audio summary should go a long way for you to make your informed yet independent decision. Why don't you re-invest in properties so as to earn a periodic, consistent rental income? Robert Kiyosaki's company still trains. Thach Nguyen also does on real estate.
Earning money isn't a science , it's an objective... like going into a shop to get some shoes. Science tells you how to improve, like everything, and the right name for such science is Finance, which study exactly that. So finance it's a science that study all the possible ways of obtaining, managing and using money.
🎯 Key Takeaways for quick navigation: 00:00 📚 *Introduction to "Rich Dad Poor Dad"* - Robert Kiyosaki introduces the concept that earning money is a science not taught in schools. 02:05 💡 *Lesson 1: "The Rich Don't Work for Money"* - The story of how Robert and his friend Mike started working for Mike's dad to learn about making money. - Rich Dad's unconventional teaching method emphasizing the importance of quick decision-making. - The key lesson that the rich don't work for money but make money work for them. 08:57 🤑 *Lesson 1 Contd.: "The Weakness of the Soul"* - Rich Dad's test of the boys' emotional resilience and the concept of having a price for one's soul. - The importance of not letting fear and greed control decision-making. - How being emotionally driven can lead to the "rat race" and the pursuit of money without solving real problems. 12:09 🏦 *Lesson 1 Contd.: "Making Money Work for You"* - The boys' transition from working for a small wage to creating a library business. - The realization that making money work for you involves creativity and thinking beyond a paycheck. - The practical application of the lesson that the rich don't work for money. 13:15 📊 *Lesson 2: "Financial Literacy"* - The importance of financial literacy and Robert's emphasis on understanding assets and liabilities. - Simple definitions of assets (put money in your pocket) and liabilities (take money out of your pocket). - The cash flow pattern of assets versus liabilities and the role of education in financial success. 18:58 🏢 *Lesson 3: "Mind Your Own Business"* - The distinction between one's profession and business, with an emphasis on building the asset column. - Advice to keep the daytime job but focus on acquiring income-producing assets. - The categories of real assets and the importance of liking what you invest in. 20:35 💰 *Lesson 4: "Taxes and Corporations"* - A brief history of taxes and how they initially targeted the rich but eventually affected the middle class. - The contrasting perspectives of Poor Dad (government employee) and Rich Dad (investor) on taxes. - The advantage of corporations in legally minimizing taxes, allowing the rich to outsmart the system. 22:54 💰 *Tax Strategies for the Rich* - Wealthy individuals benefit from lower income tax rates. - Punitive measures to tax the rich often fail as they find ways to minimize tax burdens. 23:09 🧠 *The Importance of Financial Intelligence* - Emphasis on the mind as the most crucial asset. - Increased financial intelligence enables the identification of opportunities others might miss. 24:21 💡 *Creating Wealth through Smart Ideas* - Example of turning a $75,000 house into $60,000 profit with strategic selling. - Illustration of how ideas, with improved financial intelligence, can generate significant wealth. 25:28 📚 *Working to Learn, Not Just for Money* - Importance of continuous learning for financial success. - A focus on acquiring diverse skills, such as sales and marketing, beyond traditional education. 27:37 🔄 *Long-Term View on Skill Development* - Advocacy for a long-term perspective on skill development. - Encouragement to seek work that teaches valuable skills rather than just for immediate financial gain. 28:33 🚫 *Obstacles to Abundant Cash Flow* - Identification of four main obstacles: fear, cynicism, laziness, and bad habits. - Addressing fear as a crucial factor in financial success. 30:39 💪 *Overcoming Laziness and Cultivating Greed* - Laziness as an obstacle and the antidote: a little greed for motivation. - Shifting mindset from "I can't afford it" to "How can I afford it" for problem-solving. 31:46 ⏰ *Developing Successful Habits* - Importance of paying oneself first as a successful habit. - Contrast between the habits of a financially successful person and one struggling financially. Made with HARPA AI
So I was watching this with my 8-year-old son beside me, suddenly at 5:15 he asked me, "Why do we have to live long? What's the point of living on this earth?"
You should live long to help others - many, many people, for a long, long time. To be able to help others, you need to get rich. To be able to get rich, you need to get educated.
Tell him We don't live long actually, if you compare any one moment to the rest of your life time, it seems long sure. Though should you compare the time of one's life to all the rest of time out side of that life.. that humans life happens faster than a moment
The year is almost over and very glad about the decisions I have made so far. Investing in the market earlier this year regardless of the market conditions has saved my life. I made over 70k USD with a start of 25k in the last 7 months. I know it's nothing compared to what others make but I'm glad I'm changing my finances.
*Good investment ideas will hold their value or increase in value for long time. This will allow you to exit at a good price. Short time investment's should have a high level of proper guide. Thanks to Mylah Evander the lady you recommended*
The advice in the video is excellent and true for an ambitious person. It was easier for me to get rich when i learnt the method of diversification for my investment portfolio. Like spread my investments across different asset classes to manage risk. I focused on capital appreciation through high-risk, high-reward assets. Income-oriented strategies target regular income from dividend stocks and bonds. Used the value strategy to seek out undervalued assets for potential long-term gains. Worked magic!
The crypto market has been unfavorable for months and i keep losing my money selling off during dips, i'm very scared of holding right now. how do you guys still make so much?
As a beginner investor, it's essential for you to have a mentor to keep you accountable . Myself I'm guided by Mrs Olivia Brown, a widely known crypto consultant
Crypto is a whole different ball park. I would only invest funds in it that you are willing to lose or don't need. In terms of day trading crypto I don't keep a eye on anything at the moment except XRP. Wouldn't be right guy for day trading crypto
I read halfway through this book, looked into Robert, saw a clip where he said "I don't like to write books, I write them because they create income" Immediately put RDPD back in the little free library I found it. I believe there is knowledge to be had in this book, but none of it is useful if your expenses outweigh your income, which is true for most Americans. I'm sure if you had a friend to lend you $2200 dollars, you wouldn't be poor. I'm sure it your rent wasn't $1600, you wouldn't be poor. I'm sure if you weren't homeless, you'd know that house is a liability. His works just seem very out of touch to how most people lead their lives. This is a book I'd recommend to a teenager to get a grasp of finance, but definitely not a guidelines to becoming rich. Thank you for uploading this, I was interested to know the rest of the book, but could not being myself to finish it.
Very very good point. Apparently this author didn't actually learn anything from rich dad, because the author hasn't created a successful business. His only business is peddling his book. That makes him no different than a fake youtube guru who only profits from peddling ideas that he didn't follow himself.
@@1lifeonearth your reply is my exact thoughts on the book, and why it has been promptly returned to the little free library near me! Sometimes, there's a reason a book ends up free.
I would also like to add to the content creator a thanks for doing this summary and creating this video. While my criticism of the book was overall negative, I wouldn't have been able to develop a matured opinion, of a half read book, without this video. The hard work on the summary and editing shows, I'm glad for that effort to be accessible for educational use.
The fact robert is a grifter doesnt change the fact this really is the steps for someone to be rich. But they do need a high enough paying job and the drive for more. Someone making barely enough to survive wont thrive on these ideas but someone making say $150k a year isn't rich and is still in the rat race especially if they let lifestyle creep catch them but could use these principals to go from being a $150k a year wage slave rat to rich and retired young
Nailed it. Robert only makes money on selling folk the idea of "how tk make money" he's also filed for bankruptcy multiple times. He's a grifter and the lesson to learn from the books is, create a scam people will pay you for like him.
This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Alexandra marie
I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
“Melissa Rose Francks’' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Where are u getting these $numbers? Or when is it suposrd to take place, in the 1920s??! 25cents an hour pay??! 10 cents to rent a comic?? 1 dollar a week to be be a librarian
The irony is that Kiyosaki made money selling courses about making money, his other businesses failed and he got his leg up by selling courses to people in a pyramid scheme!
Most of the book is heavy larping and stories that never happened. Also investing in real estate is boomer advice at this point, in these dystopian times is just too expensive to acquire one single house to live in. I find the real lesson of the book is writing a best seller with a catchy controversial title and live off the royalties, you don't even have to write a great book, write trash like The power of now and people will flock to buy it
A lot of other people that are rich receive a significant inheritance at some point. That’s actually a big factor that separates many middle class from rich.
Rich people need poor people to do things for them. Rich people care less about humanity. Most people want enough money, but don’t want to be a rich person
Poor people don’t accept responsibility to own their own company. So this opinion of yours is invalid. Take out loans and start your own company to be rich.
I have alsways wanted to read this book for years, and i finally get a whole simple narration in 30min pinpointing the lessons in the book. Thank you very much for helping us broaden our knowledge through this video.
Usually books, ads and seminars “teach” (or tell) without showing. This video compresses the knowledge to succeed in a way that’s understandable (and for free). Thanks for this valuable life lesson! 😎💯
Did you actually “want” to read the book, though? Or was it an idea? Because usually when we really want something we just go out and do it. I wish courage and best of luck for you my friend to get the great things in life. Check out The Richest Man in Babylon when you get a chance.
24:48 Now I frickin get it lol I even had to scroll down just to find some comments that explain the whole buying house thing. So during the market crash, the property which estimates cost is 70k but was only being sold for 20k because of the market crash and economy issues. So they bought the house for only 20k, borrowed 2k with 200 interest and after owning the house, they sell it for 75k which the amount the property actually cost without the market crash. So they really earned 40k less the downpayment and 200 dollar interest. Yup really twisted my head right there I was so confused at first lol
I have done over $400 k from a $ 50k capital so far since deciding to take more risks for growth, I have had a succession of payouts from Mining and trading Crypto, I recently diversified some profits into Forex and dividend paying Stocks and some for long term hold
Honestly, I have been seeing and hearing the craze about this Bitcoin stuff, I would like to trade or invest into it but I have no idea how to do that, can you guide me
For anyone who is confused with the math of the home purchase example: The video forgets to mention that the house is “worth 75k” but his actual purchase price was 20k with a 10% down payment (2k). This was because the economy was collapsing at the time. The new home buyer paid in cash for a ridiculous price of 60k thinking they got a nice discount from the original 75k evaluation, when Robert had an even bigger discount. He pays off the old loan of 20k from the 60k of the new buyer and keeps the 40k for himself.
It's called scalping, flipping or whatever they may call it now. Cars is a cheaper form that can get a foot in the door. Buy cheap sell high, but what you need is to be a peaple person type or natural sales ability . That and drive. Which all leads to a early death 🤔 from worry an stress otherwise you are just worked to death ...
uh sooo i still dont understand robert bought a house that cost 20k? but was worth 75k? wouldnt the seller know that and sell it at 75k or more? did he bargain it down to just 20k? how the hell did he sell it at the price of 60k when it was worth 20k cuz a house worth 75k wouldnt at all be sold at 20k
@@reaper_ballz buyers and sellers are not always well informed, but the main way to get a cheap deal is to find someone in distress. Maybe they cannot afford the payments and the house is losing them money because they cannot fix it up or whatever. Usually the flipper will buy it cheap from someone who needs the money now, put anything from a paint job to a renovation on it, and then sell it. A few thousand dollars in cleaning and fixits can turn a poor looking home into a nice looking home worth a lot more to buyers who just want something nice to move into.
Your explanations of his books are great and very easy to understand. I can also say that I have personally experienced many of the things he talks about. My husband and I had absolutely nothing when we met. When I was about 26 we ended up buying a multiplex because we did the math and the only way we would ever be able to afford to pay a mortgage was if we had some income coming in. It was run down and needed a lot of work. We did it all ourselves because we couldn’t afford to hire anyone… but those rentals paid mortgage and it snowballed. We ended up with several properties and we now live a life that neither of us even imagined, by the grace of God and willingness to do what no one else wanted to do
How the f*ck do I make money? As a young teen, I don't have much if any money so all of these comments about people with financial investors and tens of thousands of dollars to invest don't help at all. I just want to ask anyone out there for any advice you have for me to help me to at least get started acquiring assets with the little money that I have. I just don't see how I can start anything like the example of the comic book library that the kids in the video had done. It's not like I can sell stuff at school because that's forbidden and it seems like I'm too young to be able to actually DO an financial stuff online. So if anyone out there has any advice, I'd love to hear it! Also, thanks for reading this entire paragraph I really do appreciate it :).
As a beginner who don't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional broker.
Kyosaki is rich not because he's a good businessman, but he wrote a book that succeeded, that's all! Self-help book industry is a great business, but what those books tell isn't great. The truth is: except financial literacy (there's a lot of great material about those topics), all other things related to business one has to learn by oneself, from his successful parents or successful friends. No stranger will ever teach you how to do business, because it's like sawing off the branch they sit on! Business is a very competitive area, and sadly for someone to be rich, many others have to be poor and work for him or overconsume his products.
A great lesson was learned by my father-in-law. He gave each of his kids an "allowance" of $50k when they married. House, marriage, or both: your choice. Two kids spent it all on the wedding. We spent $10k on the destination wedding and placed a down payment on our home which we still live in 10 years later. We now have 60+ rental keys and multiple businesses. I still have my day job which helped accelerate things. The others are still renting. Edit: those businesses operate on "the McDonalds' model". We own the real estate. The businesses make a little money AND pay us rent--also they employ family and friends. The latter is something that many of us could only dream of when growing up.
Never married, no kids, and inherited $30K when my Dad died. Every dime - and then some - went into my mortgage, which I paid off in 12 years. No idea what my sister did with her $30K. AFAIK, she's still flat broke and living with her boyfriend.
im pretty sure a 40k down payment on a house (in an economy where the average/median is mentioned as being upwards of 400k), isnt gonna make you able to afford all that in 10 years, thats more related to you making bank of your job or business, not because you saved 300/month on mortgage. sure enough spending it all on a wedding is stupid, but they wouldnt be anywhere near your situation simply due to putting 40k on a down payment to reduce the monthly payment lol
I bought a really nice home for the area that was far too big for my family at the time. It was $215k. In 2013, that was larger than I needed but I still live in it, so it obviously worked according to my family plan. I got rid of the PMI about 1 year later as values increased and I eclipsed the 20% threshold for PMI. I live in a pretty rural area. Things are cheaper. And things were cheaper 10 years ago. At the time, I was making $52k at my 9-5. That same company now pays me a salary of $78k. Obviously good money, but it also wasn't "big city money". The missing factors, looking back at my comment, were two things: #1 I averaged at least another 40+ hours of work every week starting those businesses/fixing rentals. As one job finished, I rented it, took it to the bank to leverage it, and then bought the next one. #2 I worked so much, I rarely had any time to spend any money.@@Exata1337
@@Exata1337 you are a doubter...but you are BROKE.....learn how to take over other peoples properties by solving their problems...it is done every day.....I HAVE ONLY 6 PROPERTIES...but leveraging those to buy one more house is relatively simple...I procrastinate too much,but I will get around to doing more in the new year....you never will.......that I KNOW.......
How was $40,000 created out of nothing? Sold for 60k, no down, but only when legally his? He couldn't afford it, he made a down payment, legally not his until paid off? Interest rate, taxes, fees? Man the math is bad here 24:18
23:45 makes absolutely no sense no matter how many times I’ve watched it. Dude borrows $2000 from a friend to buy a 75,000 house, and then immediately sells it the house for 60k. All he did was put yourself 15K in the hole. These rich guys are all about accumulating debt while never paying it off.
@@Unknown8938well shoot you’re right about that, but where the heck are those opportunities at? What a great opportunity to find a 75k house selling for 20K haha.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.!!||
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom.||
For those who are unaware. Theses comments are bots, scams. Anyone referring an advisor in the comments section. Just a friendly reminder to be careful. The oldie but goodie, if it sounds too good to be true… No one is going to give you the person (advisor) that made them 84k last month. And, yes, there will be corroborating responses to these comments to make it seem legit. Don’t be fooled. It’s sad this crap plagues good hearted and helpful content.
Not allowed to ask question before choosing becaude decisiveness. Good decision is based on information. Acting like taking a moment to ask questions is wrong just encourages people to rush into decisions without consideration.
#1. True, the rich get money from their parents, passed over the generations. House, property etc. which makes life easier instantaneously for the kids, since they don't have to pay rent, furniture, etc. when they are grown up. You can't turn into a millionaire just by working hard. It's impossible, without insane luck. It's still better to be able to work hard, even if the outcome might be low. Being wealthy from your heritage increases the risk to feel entitled but being lazy and a despicable person.
it's impossible to become a millionaire with hard work and discipline alone. you need something else to amass such a huge amount of wealth. usually it involves bendable work ethics, mastery of how to manipulate people and light connivery to get the right people on your side and some lack of empathy.
@@HubertoMadalena-rz4xs there's a channel called Hard Knocks something... Guy going around asking wealthy people how they got that way, you might find that you are not entirely right in your comment. One last became a millionaire by age 20 because she used a business credit to start an Airbnb business when she lost her job as a nanny during c0vid. There's other videos that show people who grew up rich learning lessons from impoverished people and they were actually kind, sympathetic and humbled. They were also hard workers themselves. We shouldn't assume the rich are mean and/or lazy - mean people are mean and lazy people are lazy no matter how much money they've got. And wealthy people didn't get that way by being lazy so they certainly didn't allow their children to be. The just don't "work" the same way we do but they are still human just like us❤
I'm your new fan here from Philippines 🇵🇭 I like your content which is discussing about financial books 📚 I hope you will also have a summary for "Atomic Habits" 🙂 Thank you and God bless.
In 2010, the Canadian Broadcasting Corporation did an exposé on scams that were being perpetuated by Kiyosaki's company in Canada in the guise of seminars.[23] Upon tracking the success claims of "Rich Dad" seminar organizers, they discovered that these claims were not true. Investments in trailers and trailer parks, which were being propagated as "successful" by seminar teachers, were found to actually be barren pieces of land that no one was using. Kiyosaki's advice has been criticized for emphasizing anecdotes and containing nothing in the way of concrete advice on how readers should proceed or work.[24] In 2006 and 2007, Kiyosaki's Rich Dad seminars continued to promote real estate as a sound investment, just before their prices came crashing down.[25]
@@davidbolton6691 Yeah we usually call it the CBC, they're a very reputable news source, and they're absolutely correct that Kiyosaki's business is pyramid schemes dressed up as seminars that are essentially drawn out versions of this video. Don't join Amway
@@oORiseAboveOo They made an agreement with the supplier of comics for the store to take the periodically replaced comics (which were going to be destroyed) off hand but not sell them to anyone else. So they started a comic library charging admission.
Making £84k/yr and working from home is awesome. If you're looking for quick investment options, consider exploring cryptocurrencies. They offer potential growth and diversification. Just make sure to do your research and consult with an advisor
@@danielwright4931 I totally get you! Finding the right pro can be challenging. I partner with Olivia charlotte Oswald on various projects, I found her on the CBNC interview, looked her up and we began our awesome partnership. Her services are exceptional.
I`m 20 jobless and broke, but I`m glad that I have read this book, because I plan to became rich! I gonna find a job the next year and I gonna spend most of my money to start some buisness!
Not criticizing just quality controlling...at 23:14 you write on screen "The rich invent money" but you "say" "The rich invest money". I know we all understand what you mean, atleast I think I do. But, if someone was only listening to the audio, they may not understand what your saying as well.
if you make smart decisions and invest in the right places, you can reduce the risk factor, increase the reward factor, and generate meaningful returns. The majority of stocks will be at or near one extreme or the other several times a year. Stocks have a 52-week low and a 52-week high. equities fluctuate up and down; even rising equities will retrace and test previous supports. It's what they do, and I tend to buy much more frequently at or within 15% of 52-week lows. Although the market is out of my control, I can control when I buy
Appreciate the summary, the important thing for people is to open your mind and listen to all the different ways to make money. Best way is to invest your money that will start paying you back over time
Kiyosaki is a scammer himself and has declared bankruptcy multiple times. He is the 90s version of Tai Lopez & Dan Lok. When his system fails, he blames the reader instead. Google John T Reed's analysis of Kiyosaki.
"The Rich Don't Work For Money” 😂 12:55 lmao what a joke. So the kids stopped working and instead they opened a comic library, where kids could read all the comics they wanted. So all the sudden the kids had enough money in savings to buy a complete stock of comics, rent a commercial building, pay for a business license, etc. No, the rich dad gave them a hand out to jump start their business. Those kids would've still had to work for a decade or more to save that kind of money. This is why "self made millionaires" are much more rare, yet the term is over glorified and everyone claims to be one. When in reality their were born with wealth or valued connections. For regular people best bet is to obtain a well paying job, be frugal and save your money, then start your business or invest in others. This "get rich book" is a cheap gimmick. Also Ray Crock, the McDonald's property owner... Didn't "mind his own business" he literally stole another families business... Right out from under them. They say greed like it's a bad thing that keeps people poor. Yet it's the single largest factor in people's gross wealth. Oh, and "the rich lie and cheat their way out of taxes" 😂 can't make this up. 23:50 here's another gold nugget. Find homes for sale 80% under their actual value and flip them.... 😂😂😂 What the actual fck lmao
Is it possible for everyone to be rich in this system? Without employees, or renters to take value from could ‘rich’ people exist? The working class makes value. ‘Rich’ people who do not work are taking more than they deserve and cause suffering for the workers who actually produce value.
That's a very narrow view. People rent for a number of reasons. They may have a temporary assignment for work in an area. They may also be interested in buying but want to make sure they like the area before committing to buying a house. This system is not for everyone, so don't expect everyone to want the risks and responsibilities of being a landlord.
There is wealth in other things. In an egalitarian society that abolished The need for money influence and popularity would become just as powerful an asset.
The Rich do what the government wants people to do which is create jobs or bring value to the economy. The middle class do what they think they should do. Anyone can do what the rich do, but it's all up to you to make your dreams into reality.
Thank you Lesson 1. Rich don't work for money Have money work for you instead lesson 2 Why teach financial Literacy People don't know the to keep a balance between their money. If you want to get rich all you need to do is to buy more assets and keep your liabilities and expenses low. Lesson 3. Mind your own business This means that you should keep your assets and income up while trying to spend the least of your liabilities. Lesson 4. The history of taxes and the power of corporations the rich don't pay taxes or pay little taxes because the rich find a way to minimize their income taxes. Lesson 5. The rich invent money You must find a smart way to earn money Lesson 6. Work to learn don't work for money You should work for the skills that you will get from that work since sometimes you are just one or few skills away from success. Lesson 7. Overcoming Obstacles There are 4 things that you should overcome: Fear Cynicism Laziness Bad Habits
thanks a lot, perfect narration. i havent checked your library yet, but nice books are: the greatest salesman in the world, the richest man in babylon, and your money or your life. in case you wish to make one for them.
I was watching this as a broke, homeless person. After just 2 weeks of implementing the lessons, i now own seven businesses and have $8.7 million in the bank. I have also aged backwards and am now younger than I used to be.
Book doesn't tell you that many ppl invest and only small amount of ppl suceed. Some things are stupid in this video, increase in cash increases consumption of money, but we all earn money to use it, not to watch it or invest it at all cost, life goes on, somebody wants good watch, nice car, etc.
I have started to employ the teachings of Rich Dad Poor Dad. I always ask myself if whatever I am buying is an asset or a liability. I prioritize assets over liabilities. Inthe process, I invested in some startups got some money then lost it again. However, I have seen that there is more money in an investment than whatever you earn from a salary. Obviously, I would invest again. I have also managed to sucure an asset that soon is going to save me about a third of my salary. So, maybe, I should count myself a rich dad now. However, I am nowhere near any riches right now. It's a process to get there but the beautiful thing is to start the process early enough and to have a clear idea of what to do to reach where you intend to. I'm loving the process. Thank God.
Can you elaborate more? What exactly did you invest in at which price and which date? What is this asset, you're talking about? My problem with all the self help in finance bs is, that it NEVER gets tangible, always stays vague and within concepts and mind sets, builds motivation and hype for the reader/listener but when it comes to actually acting in the real world (what execrably are the next small steps within the next 48 hours? What is the milestone for the next two weeks and the EXACT steps towards that milestone? What are the milestones for the next few months etc.) it NEVER goes into any detail at all, it NEVER gets tangible, always stays somewhere in a meta-realm, that has no real life application, that can be acted upon right now. I have yet to find a book, that actually made someone money.
Imagine everyone in this planet acts line rich dad. All the streets will be dirty and no food for anyone. How about loving others and value of hard work?
@@yikwonjang2978It would seem that in order for one to have money another must be without it. When you help other people and don't focus as much on yourself then you're spreading your wealth.
@@jamalecar4790 For me, it would be a life of luxury. But I'm also a bit of a minimalist, so I'm fine with that. As long as I have enough to meet my needs and some wants, I'm happy. But I doubt most rich ppl are like that.
Check out 2nd book from Robert Kiyosaki called INCREASING YOUR FINANCIAL IQ - ua-cam.com/play/PLlbl0lCipVeM3Ci3pG5GaiVcL01UMw9Z4.html&si=WTciMOspeBEQuvcp
Q
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Vyyyvyvyvbq
He'll soon write a similar book called, "Gay Dad Transgender Dad"
big returns come from investing big. investing big comes from building conviction, conviction comes from understanding, understanding comes from doing your homework and research beyond surface level.
I want to start a Roth Ira before the end of the year. do you have any stock you would suggest to buy and hold long term?
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Please can you leave the info of your investment advisor here? I’m in dire need for one.
Her name is Lauren Camille Brown . I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I’ve just looked up her full name on my browser and found her webpage, very much appreciate this
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies
The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
Lauren Camille Brown is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
In my view, staying invested is not just a financial strategy; it's a philosophy that aligns with long-term wealth-building. Markets have their ups and downs, but history has shown that, over time, they tend to appreciate. By weathering the short-term fluctuations and remaining invested, one has the opportunity to benefit from the compounding effect, capitalize on market recoveries, and achieve financial growth. Staying invested requires patience, discipline, and a focus on the bigger picture - a strategy that, in the journey towards wealth, has proven to be consistently rewarding.
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
I have set aside $30k since the start of the year, but I've been hesitant to go into the market by myself because of fear of a crash. How about you recommend your financial advisor, please? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Lauren Camille Brown” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
I have the book & read it cover to cover.
This vid put it all in a way that I learned from it, the book is good but I didnt learn.
Still worth having though.
It's good that no one is talking about it.
Scam comment!! report!
I must say you are an inspiration because I started up investing and trading as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and bought my first house through it
As a beginner, educate yourself: Learn the basics of investing and the stock market. There are many resources available online , including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk.
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
Wow! This is just mind-blowing. I have set aside $80k since the start of the year, but I've been hesitant to go into the market by myself because of fear of a crash. How about you recommend your financial advisor, please? I could really use some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Good news
it’s kinda crazy how nobody’s talking about Antozent, they are selling 250 self help books for the price of one, including this one.
Yea just seen in its honesly amazing, they have all the books i wanted in 1 place for the price of 1.
TLDR
Rich Dad:
Emphasizes the importance of financial education.
Advocates for assets that generate passive income (investments, businesses).
Believes in taking calculated risks to achieve wealth.
Poor Dad:
Focuses on traditional education and job security.
Encourages working for a stable paycheck and saving money.
Believes in avoiding risks and sticking to the conventional path.
Key lessons:
Invest in Assets: Acquire income-generating assets rather than liabilities.
Mindset Shift: Develop a mindset geared toward financial independence and entrepreneurship.
Financial Education: Continuously educate yourself about money and investing.
Ultimately, the book encourages readers to challenge conventional beliefs about money, work towards financial literacy, and strive for financial independence.
Hedge funds will fuck up your mid to small caps with naked shorting.
financial education means nothing if you have to work to feed yourself and your family
❤
The more knowledge you have about money, the more you make it work for you. You can have two people that make the same income but one be a saver and one be a spender.@HubertoMadalena-rz4xs
@@HubertoMadalena-rz4xs It's meant to give you a #mindset that will make you start investing so as to not work for money , but to make money work for you...
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
👉📕 Buy the book here: amzn.to/3Rtr9fM
Thanks a lot 🙌
@@SoMuchBetterOfficial❤😂😂🎉🎉😂🎉🎉🎉❤🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉😂🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉😂🎉🎉🎉🎉🎉🎉🎉🎉😂🎉❤🎉🎉🎉🎉🎉🎉🎉😮🎉🎉😂🎉🎉❤🎉😢🎉🎉😂🎉🎉😮🎉🎉🎉😂😂🎉🎉🎉🎉😂🎉🎉😂🎉🎉🎉🎉🎉🎉🎉❤😂🎉🎉🎉🎉😂🎉😂🎉😂🎉🎉🎉🎉😂🎉🎉🎉🎉🎉🎉🎉😂😂🎉🎉🎉🎉🎉😂🎉❤🎉🎉😂😂😂🎉🎉🎉😂😂🎉🎉🎉❤🎉🎉😂🎉😂🎉😂😂😂😂🎉😂😂😂🎉😂😂🎉😂😂😂😅😂😂😂😂🎉😂🎉🎉😂🎉😂😂😂😂😂❤🎉😂😂😂❤😂😂😂🎉😂😂😂😂😂🎉🎉😂😂😂🎉😂😂😂🎉🎉🎉😂😂😂😂🎉😂😂😂😅😂😂😂😮❤❤😂😂❤😂😂😂😂😂😂😂😂😂😂😂😮😂😂😂😂😂😂😂😂😂😂😂🎉😂😂😂😂😂😂🎉🎉😂😂😂😂😂😂😂😂❤😂😂😂🎉😂😂😂😂🎉❤😂🎉❤😂🎉🎉😂❤🎉😂😂😂😂😂😂🎉🎉😂😂😂😂😂😂😂😂😂😂😂😂😂🎉😂😂😅🎉🎉😂🎉❤😂😂😂😂😂😂😂🎉😂😂😂😂😂❤😂❤🎉🎉❤🎉😂🎉🎉❤😂🎉😂😂😂😂😂🎉🎉🎉❤😂❤😂❤❤🎉😂🎉🎉❤😂😂😂❤🎉🎉❤🎉🎉🎉😂😂🎉😂😂❤🎉❤😂😂❤😂❤❤🎉😮❤❤🎉😂🎉❤😂❤😂❤😂😂🎉🎉😢❤😂😂😂❤❤❤❤😂😅❤❤❤❤😅❤🎉🎉😢😢🎉😮🎉🎉🎉🎉😂😢😢🎉🎉😢😢😢🎉🎉🎉😂😢😢😂😢🎉🎉😢😢🎉😢😢😢😢🎉😢😢😢😢🎉🎉🎉😮😢🎉😮😮😢😢😢😢😢🎉😢😮😮😢😢🎉🎉😢🎉😮🎉😮😢🎉😢😮😮😢😢😮😮🎉🎉😢😢😢🎉🎉😂❤😂❤❤❤❤😂😂❤❤😂❤😂❤😂❤❤😂❤❤😂😂❤❤❤❤😂❤❤❤❤😂😂❤😂😂😂❤😂😂😂😂❤🎉😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅🎉🎉😢😅❤😅😊😅😅❤😅❤😅😅❤😅😅❤😅❤❤😅😅😅❤😅😅😅😅😢🎉🎉😅❤❤❤❤😅🎉🎉🎉🎉😢😢😢😢😢😢😢😢😢😅😢😅😢🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉❤😅❤ 30:32 30:32 30:32 30:32 🎉 30:32 30:32 30:32 30:32 :3 30:32 2 30:32 30:32
@@SoMuchBetterOfficial❤❤❤😂qq😂🎉ra
Hdffjdrgdfgfk4rrrrr❤❤😂😂
I read this book about 15 years ago. Many of the lessons are sound. I was living paycheck to paycheck. I now own a home with over half a million in equity. Do not constantly budget to make sure bills are going to be paid. I am an active stock trader. While the market was going red my account was running greener then ever. Take the time to learn as much as you can about money and how it works. I will not happen over night. Also some background, I am native american and grew up very poor. I did not have running water and had electricity via generator. you can do it, just one step at a time and belief in yourself.
I read it this month few days ago
Would love to connect with you someday and learn, even if for free. Seriously. Inspiration.
What happens when all your investments go down the toilet
@@techarch8851try again
I would love to hear from you . Because I also really want to change the course of my life, to have millions . But I don't know where to start .
0:51 Lesson 1
13:05 Lesson 2
16:54 Lesson 3
20:31 Lesson 4
23:11 Lesson 5
25:25 Lesson 6
28:17 Lesson 7
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains within months, I'm really just confused at this point.
I found her page by searching for her entire name online. After that, I emailed her and we set up a meeting so we could talk; I'm currently waiting on her response.
No
Listening to this audio summary should go a long way for you to make your informed yet independent decision.
Why don't you re-invest in properties so as to earn a periodic, consistent rental income? Robert Kiyosaki's company still trains. Thach Nguyen also does on real estate.
read the book “money master the game” by tony robbins. it helped me shift my mindset
Do proper study or take advice from stock expert
it's kinda crazy how nobody's talking about the forbidden ebook called success secrets of the elite
Where do I get it
@@Ghost_3209_A You can find it on Borlest
@@Ghost_3209_A Borlest
Bot booooo GET OUT
@@Amintiy Can't even help people
Earning money isn't a science , it's an objective... like going into a shop to get some shoes. Science tells you how to improve, like everything, and the right name for such science is Finance, which study exactly that. So finance it's a science that study all the possible ways of obtaining, managing and using money.
Wow
🎯 Key Takeaways for quick navigation:
00:00 📚 *Introduction to "Rich Dad Poor Dad"*
- Robert Kiyosaki introduces the concept that earning money is a science not taught in schools.
02:05 💡 *Lesson 1: "The Rich Don't Work for Money"*
- The story of how Robert and his friend Mike started working for Mike's dad to learn about making money.
- Rich Dad's unconventional teaching method emphasizing the importance of quick decision-making.
- The key lesson that the rich don't work for money but make money work for them.
08:57 🤑 *Lesson 1 Contd.: "The Weakness of the Soul"*
- Rich Dad's test of the boys' emotional resilience and the concept of having a price for one's soul.
- The importance of not letting fear and greed control decision-making.
- How being emotionally driven can lead to the "rat race" and the pursuit of money without solving real problems.
12:09 🏦 *Lesson 1 Contd.: "Making Money Work for You"*
- The boys' transition from working for a small wage to creating a library business.
- The realization that making money work for you involves creativity and thinking beyond a paycheck.
- The practical application of the lesson that the rich don't work for money.
13:15 📊 *Lesson 2: "Financial Literacy"*
- The importance of financial literacy and Robert's emphasis on understanding assets and liabilities.
- Simple definitions of assets (put money in your pocket) and liabilities (take money out of your pocket).
- The cash flow pattern of assets versus liabilities and the role of education in financial success.
18:58 🏢 *Lesson 3: "Mind Your Own Business"*
- The distinction between one's profession and business, with an emphasis on building the asset column.
- Advice to keep the daytime job but focus on acquiring income-producing assets.
- The categories of real assets and the importance of liking what you invest in.
20:35 💰 *Lesson 4: "Taxes and Corporations"*
- A brief history of taxes and how they initially targeted the rich but eventually affected the middle class.
- The contrasting perspectives of Poor Dad (government employee) and Rich Dad (investor) on taxes.
- The advantage of corporations in legally minimizing taxes, allowing the rich to outsmart the system.
22:54 💰 *Tax Strategies for the Rich*
- Wealthy individuals benefit from lower income tax rates.
- Punitive measures to tax the rich often fail as they find ways to minimize tax burdens.
23:09 🧠 *The Importance of Financial Intelligence*
- Emphasis on the mind as the most crucial asset.
- Increased financial intelligence enables the identification of opportunities others might miss.
24:21 💡 *Creating Wealth through Smart Ideas*
- Example of turning a $75,000 house into $60,000 profit with strategic selling.
- Illustration of how ideas, with improved financial intelligence, can generate significant wealth.
25:28 📚 *Working to Learn, Not Just for Money*
- Importance of continuous learning for financial success.
- A focus on acquiring diverse skills, such as sales and marketing, beyond traditional education.
27:37 🔄 *Long-Term View on Skill Development*
- Advocacy for a long-term perspective on skill development.
- Encouragement to seek work that teaches valuable skills rather than just for immediate financial gain.
28:33 🚫 *Obstacles to Abundant Cash Flow*
- Identification of four main obstacles: fear, cynicism, laziness, and bad habits.
- Addressing fear as a crucial factor in financial success.
30:39 💪 *Overcoming Laziness and Cultivating Greed*
- Laziness as an obstacle and the antidote: a little greed for motivation.
- Shifting mindset from "I can't afford it" to "How can I afford it" for problem-solving.
31:46 ⏰ *Developing Successful Habits*
- Importance of paying oneself first as a successful habit.
- Contrast between the habits of a financially successful person and one struggling financially.
Made with HARPA AI
So I was watching this with my 8-year-old son beside me, suddenly at 5:15 he asked me, "Why do we have to live long? What's the point of living on this earth?"
You should live long to help others - many, many people, for a long, long time.
To be able to help others, you need to get rich.
To be able to get rich, you need to get educated.
Tell him We don't live long actually, if you compare any one moment to the rest of your life time, it seems long sure. Though should you compare the time of one's life to all the rest of time out side of that life.. that humans life happens faster than a moment
Life is about much more than money.
Make good ethical decisions and live a full life.
@@ri28ch28Exaclty what I told him but not only people but the animals too.
You have a smart kid.. His point was... is this what life is all about?.. or we've a purpose here...
The year is almost over and very glad about the decisions I have made so far. Investing in the market earlier this year regardless of the market conditions has saved my life. I made over 70k USD with a start of 25k in the last 7 months. I know it's nothing compared to what others make but I'm glad I'm changing my finances.
Spot on. The market presents different opportunities to create passive income, with the right skill and proper understanding you're good to go.
@yung1448How were you able to make that much? Seems like I'm not lucky enough.
I'm very much aware of the great benefits of working with a pro but I haven't found one for myself.
Definitely grabbing this opportunity. Thanks so much, just found her webpage
lnvesting in the crypt0market also changed my financial life. I was able to clear my debt and also created a passive income.
One of the books that brought change to my perception towards life
Thanks!
*Good investment ideas will hold their value or increase in value for long time. This will allow you to exit at a good price. Short time investment's should have a high level of proper guide. Thanks to Mylah Evander the lady you recommended*
That woman totally changed my life for good. I have come across individuals but none is as honest as Mylah. So surprised you know her too.
SHE'S MOSTLY ON TELEGAMS WITH THE BELOW NAME!!!
MYLAH EVAN1
The advice in the video is excellent and true for an ambitious person. It was easier for me to get rich when i learnt the method of diversification for my investment portfolio. Like spread my investments across different asset classes to manage risk. I focused on capital appreciation through high-risk, high-reward assets.
Income-oriented strategies target regular income from dividend stocks and bonds.
Used the value strategy to seek out undervalued assets for potential long-term gains. Worked magic!
Not because of ignorance, It's because of the high rate of unprofessionalism in the crypto market.
The crypto market has been unfavorable for months and i keep losing my money selling off during dips, i'm very scared of holding right now. how do you guys still make so much?
As a beginner investor, it's essential for you to have a mentor to keep you accountable . Myself I'm guided by Mrs Olivia Brown, a widely known crypto consultant
Crypto is a whole different ball park.
I would only invest funds in it that you are willing to lose or don't need.
In terms of day trading crypto I don't keep a eye on anything at the moment except XRP. Wouldn't be right guy for day trading crypto
That's right, you need an experienced trader to make good profits trading cryptocurrencies
Beware of scammers, always trust but verify and verify some more before investing a penny… Too many scammers in our 🌎….
this comment section is full of scammers
This investment bots are everywhere
Suddenly everyone became rich in this comment hahaha
I read halfway through this book, looked into Robert, saw a clip where he said "I don't like to write books, I write them because they create income"
Immediately put RDPD back in the little free library I found it. I believe there is knowledge to be had in this book, but none of it is useful if your expenses outweigh your income, which is true for most Americans.
I'm sure if you had a friend to lend you $2200 dollars, you wouldn't be poor. I'm sure it your rent wasn't $1600, you wouldn't be poor. I'm sure if you weren't homeless, you'd know that house is a liability. His works just seem very out of touch to how most people lead their lives.
This is a book I'd recommend to a teenager to get a grasp of finance, but definitely not a guidelines to becoming rich.
Thank you for uploading this, I was interested to know the rest of the book, but could not being myself to finish it.
Very very good point. Apparently this author didn't actually learn anything from rich dad, because the author hasn't created a successful business. His only business is peddling his book. That makes him no different than a fake youtube guru who only profits from peddling ideas that he didn't follow himself.
@@1lifeonearth your reply is my exact thoughts on the book, and why it has been promptly returned to the little free library near me! Sometimes, there's a reason a book ends up free.
I would also like to add to the content creator a thanks for doing this summary and creating this video. While my criticism of the book was overall negative, I wouldn't have been able to develop a matured opinion, of a half read book, without this video. The hard work on the summary and editing shows, I'm glad for that effort to be accessible for educational use.
The fact robert is a grifter doesnt change the fact this really is the steps for someone to be rich. But they do need a high enough paying job and the drive for more. Someone making barely enough to survive wont thrive on these ideas but someone making say $150k a year isn't rich and is still in the rat race especially if they let lifestyle creep catch them but could use these principals to go from being a $150k a year wage slave rat to rich and retired young
Nailed it. Robert only makes money on selling folk the idea of "how tk make money" he's also filed for bankruptcy multiple times. He's a grifter and the lesson to learn from the books is, create a scam people will pay you for like him.
This is so good. I love the book but I love the visuals of this video more. Thank you!!
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Alexandra marie
Please educate me, i'm willing to make consultations to improve my situation,
She's recognized as 'Mrs marie. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I even thought I'm the only one she has helped walk through the fears and falls of forex trading.....
Please how do I find this financial counselor?
This was my 2nd fav. book. My fav. book was The Millionaire Next Door.
Hey am asking for book
I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
“Melissa Rose Francks’' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Where are u getting these $numbers? Or when is it suposrd to take place, in the 1920s??! 25cents an hour pay??! 10 cents to rent a comic?? 1 dollar a week to be be a librarian
Probably just numbers used for an example lol
Robert is like 75 now. This is supposed to be about his childhood
The irony is that Kiyosaki made money selling courses about making money, his other businesses failed and he got his leg up by selling courses to people in a pyramid scheme!
and before that he scammed friends and family with amway
Most of the book is heavy larping and stories that never happened. Also investing in real estate is boomer advice at this point, in these dystopian times is just too expensive to acquire one single house to live in. I find the real lesson of the book is writing a best seller with a catchy controversial title and live off the royalties, you don't even have to write a great book, write trash like The power of now and people will flock to buy it
A lot of other people that are rich receive a significant inheritance at some point. That’s actually a big factor that separates many middle class from rich.
thank God for at last a non-bot comment
@@markganus1085 I’m gay
Rich people need poor people to do things for them. Rich people care less about humanity. Most people want enough money, but don’t want to be a rich person
There is a desire to be rich if you want the capability of helping people.
True that. If everyone's rich, no one will be.
exactly
Poor people don’t accept responsibility to own their own company. So this opinion of yours is invalid. Take out loans and start your own company to be rich.
@@keithskoglund10”accept responsibility”? No one’s offering me a company man…
I have alsways wanted to read this book for years, and i finally get a whole simple narration in 30min pinpointing the lessons in the book. Thank you very much for helping us broaden our knowledge through this video.
Makes me want to buy the book now 😂
Usually books, ads and seminars “teach” (or tell) without showing. This video compresses the knowledge to succeed in a way that’s understandable (and for free). Thanks for this valuable life lesson! 😎💯
Did you actually “want” to read the book, though? Or was it an idea? Because usually when we really want something we just go out and do it. I wish courage and best of luck for you my friend to get the great things in life. Check out The Richest Man in Babylon when you get a chance.
L
@@droman608l
This is by far the best summary of the book, that I have come across on YT.
Thank you for the lesson. Surely I will be rich someday.
Great summary. Thank you for sharing
As you can see on the example of the rich dad and Robert himself, there is no better business than preaching.
24:48 Now I frickin get it lol I even had to scroll down just to find some comments that explain the whole buying house thing.
So during the market crash, the property which estimates cost is 70k but was only being sold for 20k because of the market crash and economy issues. So they bought the house for only 20k, borrowed 2k with 200 interest and after owning the house, they sell it for 75k which the amount the property actually cost without the market crash. So they really earned 40k less the downpayment and 200 dollar interest. Yup really twisted my head right there I was so confused at first lol
I have done over $400 k from a $ 50k capital so far since deciding to take more risks for growth, I have had a succession of payouts from Mining and trading Crypto, I recently diversified some profits into Forex and dividend paying Stocks and some for long term hold
Honestly, I have been seeing and hearing the craze about this Bitcoin stuff, I would like to trade or invest into it but I have no idea how to do that, can you guide me
The emergence of Trump as president has also been boosting the crypto market, I am also profiting from it a lot
I employ the expertise of a pro for that, Benjamin ravies because it isn't as easy as it seems
Thanks for the lead, just searched Benjamin by his full name and easily spotted his profile.. already followed him but I will like a closer approach
Benjamin ravies
That’s his gmal okay
For anyone who is confused with the math of the home purchase example:
The video forgets to mention that the house is “worth 75k” but his actual purchase price was 20k with a 10% down payment (2k). This was because the economy was collapsing at the time. The new home buyer paid in cash for a ridiculous price of 60k thinking they got a nice discount from the original 75k evaluation, when Robert had an even bigger discount. He pays off the old loan of 20k from the 60k of the new buyer and keeps the 40k for himself.
Thanks! I had to rewind that part!
It's called scalping, flipping or whatever they may call it now. Cars is a cheaper form that can get a foot in the door. Buy cheap sell high, but what you need is to be a peaple person type or natural sales ability . That and drive. Which all leads to a early death 🤔 from worry an stress otherwise you are just worked to death ...
@@georgejones4071
So either way you lose. Die early from the stress of wealth or live long as a paid slave?
uh sooo i still dont understand
robert bought a house that cost 20k? but was worth 75k?
wouldnt the seller know that and sell it at 75k or more?
did he bargain it down to just 20k?
how the hell did he sell it at the price of 60k when it was worth 20k cuz a house worth 75k wouldnt at all be sold at 20k
@@reaper_ballz buyers and sellers are not always well informed, but the main way to get a cheap deal is to find someone in distress. Maybe they cannot afford the payments and the house is losing them money because they cannot fix it up or whatever. Usually the flipper will buy it cheap from someone who needs the money now, put anything from a paint job to a renovation on it, and then sell it. A few thousand dollars in cleaning and fixits can turn a poor looking home into a nice looking home worth a lot more to buyers who just want something nice to move into.
Your explanations of his books are great and very easy to understand. I can also say that I have personally experienced many of the things he talks about. My husband and I had absolutely nothing when we met. When I was about 26 we ended up buying a multiplex because we did the math and the only way we would ever be able to afford to pay a mortgage was if we had some income coming in. It was run down and needed a lot of work. We did it all ourselves because we couldn’t afford to hire anyone… but those rentals paid mortgage and it snowballed. We ended up with several properties and we now live a life that neither of us even imagined, by the grace of God and willingness to do what no one else wanted to do
❤👍
"We had nothing.. so we bought some real estate." 🤭
@@itoibo4208 we had nothing but we built our credit. You can buy a real estate with nothing but good credit.
@@itoibo4208 reading isn't your thing, we get it.
@@GARDUITO Nor yours, it would seem. Says right there that they had nothing, but bought a multiplex. How do you buy a multiplex with nothing?
From Africa Tanzania u are really teacher❤❤❤❤
How the f*ck do I make money? As a young teen, I don't have much if any money so all of these comments about people with financial investors and tens of thousands of dollars to invest don't help at all. I just want to ask anyone out there for any advice you have for me to help me to at least get started acquiring assets with the little money that I have. I just don't see how I can start anything like the example of the comic book library that the kids in the video had done. It's not like I can sell stuff at school because that's forbidden and it seems like I'm too young to be able to actually DO an financial stuff online. So if anyone out there has any advice, I'd love to hear it! Also, thanks for reading this entire paragraph I really do appreciate it :).
Investing in crypto and stocks is a good idea, a good trading system would put you through many days of success.
As a beginner who don't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first
start working with a professional broker.
I highly recommend Mrs Kathleen Susan she is my
current trader and her strategies are Good.
Her info
+191
Thank you for summarize the book in a such easy fun to watch video. Please do more books😊.
There is a little problem here:
"to be rich you have to buy assets".
With what money exactly, if you are not already rich?
In italy you can't sell a house you just bought.
Get a job first save money as much as you can
use other people's money to start networking
How@@MimiMhair
@@theresnothinghere59 yes you can
Better to be poor and happy with your family, than rich and miserable without time for anything in life.
I find you have less time the poorer you are. but everyone is different, and chooses different paths.
Rather be rich and miserable than Poor putting on a false sense of happiness dealing with the struggle that comes with it.
Sounds like some shit a broke guy would say
Kyosaki is rich not because he's a good businessman, but he wrote a book that succeeded, that's all! Self-help book industry is a great business, but what those books tell isn't great.
The truth is: except financial literacy (there's a lot of great material about those topics), all other things related to business one has to learn by oneself, from his successful parents or successful friends.
No stranger will ever teach you how to do business, because it's like sawing off the branch they sit on! Business is a very competitive area, and sadly for someone to be rich, many others have to be poor and work for him or overconsume his products.
@@iirekm
Not in a team-build compensation plan
Then you succeed the more your team under you succeeds
But most people are allergic to MLMs
@@iamalphalimHa Ha there you have it
This is so good. Ilovr the book 📚 but I love the
Visuals of this video more. Thank you!!
A great lesson was learned by my father-in-law. He gave each of his kids an "allowance" of $50k when they married. House, marriage, or both: your choice. Two kids spent it all on the wedding. We spent $10k on the destination wedding and placed a down payment on our home which we still live in 10 years later. We now have 60+ rental keys and multiple businesses. I still have my day job which helped accelerate things.
The others are still renting.
Edit: those businesses operate on "the McDonalds' model". We own the real estate. The businesses make a little money AND pay us rent--also they employ family and friends. The latter is something that many of us could only dream of when growing up.
Never married, no kids, and inherited $30K when my Dad died. Every dime - and then some - went into my mortgage, which I paid off in 12 years.
No idea what my sister did with her $30K. AFAIK, she's still flat broke and living with her boyfriend.
im pretty sure a 40k down payment on a house (in an economy where the average/median is mentioned as being upwards of 400k), isnt gonna make you able to afford all that in 10 years, thats more related to you making bank of your job or business, not because you saved 300/month on mortgage.
sure enough spending it all on a wedding is stupid, but they wouldnt be anywhere near your situation simply due to putting 40k on a down payment to reduce the monthly payment lol
I wonder what crucial details are missing from this story? 🤔
I bought a really nice home for the area that was far too big for my family at the time. It was $215k. In 2013, that was larger than I needed but I still live in it, so it obviously worked according to my family plan. I got rid of the PMI about 1 year later as values increased and I eclipsed the 20% threshold for PMI. I live in a pretty rural area. Things are cheaper. And things were cheaper 10 years ago.
At the time, I was making $52k at my 9-5. That same company now pays me a salary of $78k. Obviously good money, but it also wasn't "big city money".
The missing factors, looking back at my comment, were two things: #1 I averaged at least another 40+ hours of work every week starting those businesses/fixing rentals. As one job finished, I rented it, took it to the bank to leverage it, and then bought the next one. #2 I worked so much, I rarely had any time to spend any money.@@Exata1337
@@Exata1337 you are a doubter...but you are BROKE.....learn how to take over other peoples properties by solving their problems...it is done every day.....I HAVE ONLY 6 PROPERTIES...but leveraging those to buy one more house is relatively simple...I procrastinate too much,but I will get around to doing more in the new year....you never will.......that I KNOW.......
How was $40,000 created out of nothing? Sold for 60k, no down, but only when legally his? He couldn't afford it, he made a down payment, legally not his until paid off? Interest rate, taxes, fees? Man the math is bad here 24:18
I scratched my head on the same thing😂😂
23:45 makes absolutely no sense no matter how many times I’ve watched it. Dude borrows $2000 from a friend to buy a 75,000 house, and then immediately sells it the house for 60k. All he did was put yourself 15K in the hole.
These rich guys are all about accumulating debt while never paying it off.
My brain was trying into mush trying to wrap my head around it 😂
Dude my thought exactly
She says buying a house worth 75k for only 20k.
@@Unknown8938well shoot you’re right about that, but where the heck are those opportunities at? What a great opportunity to find a 75k house selling for 20K haha.
Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.!!||
What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom.||
*ROCHELLE DUNGCA-SCHREIBER,* That's whom i work with-|
You can glance her name up on the internet and verify her yourself. she has years of financial market experience!!-|
Advisor? You don’t need no advisor…invest in whole stock market eft with lowest maintenance fee…you’re welcome.
For those who are unaware. Theses comments are bots, scams. Anyone referring an advisor in the comments section. Just a friendly reminder to be careful. The oldie but goodie, if it sounds too good to be true… No one is going to give you the person (advisor) that made them 84k last month. And, yes, there will be corroborating responses to these comments to make it seem legit. Don’t be fooled. It’s sad this crap plagues good hearted and helpful content.
You are doing a great job 👍
Nice summery.
Great content my friend.
Not allowed to ask question before choosing becaude decisiveness. Good decision is based on information. Acting like taking a moment to ask questions is wrong just encourages people to rush into decisions without consideration.
Where did they get the money for the library?
Exactly
#1. True, the rich get money from their parents, passed over the generations. House, property etc. which makes life easier instantaneously for the kids, since they don't have to pay rent, furniture, etc. when they are grown up.
You can't turn into a millionaire just by working hard.
It's impossible, without insane luck.
It's still better to be able to work hard, even if the outcome might be low.
Being wealthy from your heritage increases the risk to feel entitled but being lazy and a despicable person.
You can definitely become a millionaire with hard work, I’m only 18 and I’ve already touched a quarter mil. You need to take risks and work hard.
it's impossible to become a millionaire with hard work and discipline alone. you need something else to amass such a huge amount of wealth. usually it involves bendable work ethics, mastery of how to manipulate people and light connivery to get the right people on your side and some lack of empathy.
Prove it😊
@@HubertoMadalena-rz4xs there's a channel called Hard Knocks something... Guy going around asking wealthy people how they got that way, you might find that you are not entirely right in your comment. One last became a millionaire by age 20 because she used a business credit to start an Airbnb business when she lost her job as a nanny during c0vid.
There's other videos that show people who grew up rich learning lessons from impoverished people and they were actually kind, sympathetic and humbled. They were also hard workers themselves. We shouldn't assume the rich are mean and/or lazy - mean people are mean and lazy people are lazy no matter how much money they've got. And wealthy people didn't get that way by being lazy so they certainly didn't allow their children to be. The just don't "work" the same way we do but they are still human just like us❤
Thanks for the video, hopefully I will rich someday.
I love to much this channel✍️✍️😁😁🤝🤝
Very inspirational. Now lets hear other 999 rich dads who told the same but ended bankrupt under the bridge pursued by creditors.
I'm your new fan here from Philippines 🇵🇭 I like your content which is discussing about financial books 📚
I hope you will also have a summary for "Atomic Habits" 🙂 Thank you and God bless.
In 2010, the Canadian Broadcasting Corporation did an exposé on scams that were being perpetuated by Kiyosaki's company in Canada in the guise of seminars.[23] Upon tracking the success claims of "Rich Dad" seminar organizers, they discovered that these claims were not true. Investments in trailers and trailer parks, which were being propagated as "successful" by seminar teachers, were found to actually be barren pieces of land that no one was using.
Kiyosaki's advice has been criticized for emphasizing anecdotes and containing nothing in the way of concrete advice on how readers should proceed or work.[24]
In 2006 and 2007, Kiyosaki's Rich Dad seminars continued to promote real estate as a sound investment, just before their prices came crashing down.[25]
Your information might be valid, but there is nothing in this video that doesn't ring true. Phenomenology shows us that it is.
"The Canadian Broadcasting Corporation"
@@davidbolton6691 Yeah we usually call it the CBC, they're a very reputable news source, and they're absolutely correct that Kiyosaki's business is pyramid schemes dressed up as seminars that are essentially drawn out versions of this video. Don't join Amway
Cool story bro
What’s your improved way to create wealth?
Is it too late to read the book? I wanted to have my dream Home this year❤
How the hell 2 kids with no money opened a library with tons of comic books?
Same way someone bought a 75K house with 20K from money they borrowed with a friend.
They probably had a lot themselves, and maybe traded some collections off of friends for other stuff.
@@oORiseAboveOo They made an agreement with the supplier of comics for the store to take the periodically replaced comics (which were going to be destroyed) off hand but not sell them to anyone else. So they started a comic library charging admission.
This is a big hole in this story. To make money, you need money. The money needs to come from somewhere first. Work a job and save, then invest.
It's a madeup story they can have thanos help them if they want to
Thanks for this! I currently make £84k/yr. No investment and I work from home. I need to do something quick. What can I do?
Making £84k/yr and working from home is awesome. If you're looking for quick investment options, consider exploring cryptocurrencies. They offer potential growth and diversification. Just make sure to do your research and consult with an advisor
I’m very much aware of the great benefits of working with a pro but I haven't found one for myself.
@@danielwright4931 I totally get you! Finding the right pro can be challenging. I partner with Olivia charlotte Oswald on various projects, I found her on the CBNC interview, looked her up and we began our awesome partnership. Her services are exceptional.
Definitely grabbing this opportunity. Thanks so much, just found her webpage
Taking the first step is always tough, I made over 120k USD with a start of 30k in the last 7 months. Importance of investing cannot be overemphasized
I swear the amount of value condensed in this video is unreal, i appreciate your knowledge and service. I say this with a full heart. Thank you
This is really an amazing channels for people like who don't like to read but still would like to consume the right knowledge
Thanks for rich dad & poor dada Summary
I`m 20 jobless and broke, but I`m glad that I have read this book, because I plan to became rich! I gonna find a job the next year and I gonna spend most of my money to start some buisness!
Same with me 😢 all the best to you ✨
I’m with you guys, on the same boat here
Study your business plan , and commit it to God and it will prosper
Poor dad: Works and pay taxes.
Rich dad: Teach others how to avoid working and paying taxes.
Aka be a dumb American or a smart America *trump smile & thumbs up”
- How?
- Underpaid child labor
🗿
First 🎉love your content
Not criticizing just quality controlling...at 23:14 you write on screen "The rich invent money" but you "say" "The rich invest money". I know we all understand what you mean, atleast I think I do. But, if someone was only listening to the audio, they may not understand what your saying as well.
if you make smart decisions and invest in the right places, you can reduce the risk factor, increase the reward factor, and generate meaningful returns. The majority of stocks will be at or near one extreme or the other several times a year. Stocks have a 52-week low and a 52-week high. equities fluctuate up and down; even rising equities will retrace and test previous supports. It's what they do, and I tend to buy much more frequently at or within 15% of 52-week lows. Although the market is out of my control, I can control when I buy
I read this book when I was 13, but didn’t appreciate nor understood the concept till at a later age 😅😅😅
Rich character is priceless and infinite in life creating overall bliss for human beings .See u in heaven.
Thank you for your time! 😘❤
Appreciate the summary, the important thing for people is to open your mind and listen to all the different ways to make money. Best way is to invest your money that will start paying you back over time
I'm glad i watched this. So many lessons learnt 😌
Kiyosaki is a scammer himself and has declared bankruptcy multiple times. He is the 90s version of Tai Lopez & Dan Lok. When his system fails, he blames the reader instead. Google John T Reed's analysis of Kiyosaki.
I'm a slow reader so I absolutely cannot thank you enough for this video. Do you have a photographic memory? Just curious.
Best explanation of the book ,I ever seen on UA-cam , this is really a book I wish I read 10 years ago ..excellent one!
"The Rich Don't Work For Money” 😂 12:55 lmao what a joke. So the kids stopped working and instead they opened a comic library, where kids could read all the comics they wanted. So all the sudden the kids had enough money in savings to buy a complete stock of comics, rent a commercial building, pay for a business license, etc. No, the rich dad gave them a hand out to jump start their business. Those kids would've still had to work for a decade or more to save that kind of money. This is why "self made millionaires" are much more rare, yet the term is over glorified and everyone claims to be one. When in reality their were born with wealth or valued connections. For regular people best bet is to obtain a well paying job, be frugal and save your money, then start your business or invest in others. This "get rich book" is a cheap gimmick. Also Ray Crock, the McDonald's property owner... Didn't "mind his own business" he literally stole another families business... Right out from under them. They say greed like it's a bad thing that keeps people poor. Yet it's the single largest factor in people's gross wealth. Oh, and "the rich lie and cheat their way out of taxes" 😂 can't make this up. 23:50 here's another gold nugget. Find homes for sale 80% under their actual value and flip them.... 😂😂😂 What the actual fck lmao
24:05 the numbers dont add up can someone explain this to me please😅
Is it possible for everyone to be rich in this system? Without employees, or renters to take value from could ‘rich’ people exist?
The working class makes value. ‘Rich’ people who do not work are taking more than they deserve and cause suffering for the workers who actually produce value.
That's a very narrow view. People rent for a number of reasons. They may have a temporary assignment for work in an area. They may also be interested in buying but want to make sure they like the area before committing to buying a house. This system is not for everyone, so don't expect everyone to want the risks and responsibilities of being a landlord.
There is wealth in other things. In an egalitarian society that abolished
The need for money influence and popularity would become just as powerful an asset.
it's a zero sum game. if someone has most of the money, some people will have to make do with little to nothing. possibly starve to death
Not everyone can be rich. Money is like any commodity, and market rules apply. The more money is on the market, the less the worth.
The Rich do what the government wants people to do which is create jobs or bring value to the economy. The middle class do what they think they should do. Anyone can do what the rich do, but it's all up to you to make your dreams into reality.
Can someone explain the $75k house example at 24:00 in more detail? I’m not sure I’m following it correctly
Loved. Thank you. Gotta say I read it but seeing in video quickly brings back greatest info.
Thank you
Lesson 1. Rich don't work for money
Have money work for you instead
lesson 2 Why teach financial Literacy
People don't know the to keep a balance between their money. If you want to get rich all you need to do is to buy more assets and keep your liabilities and expenses low.
Lesson 3. Mind your own business
This means that you should keep your assets and income up while trying to spend the least of your liabilities.
Lesson 4. The history of taxes and the power of corporations
the rich don't pay taxes or pay little taxes because the rich find a way to minimize their income taxes.
Lesson 5. The rich invent money
You must find a smart way to earn money
Lesson 6. Work to learn don't work for money
You should work for the skills that you will get from that work since sometimes you are just one or few skills away from success.
Lesson 7. Overcoming Obstacles
There are 4 things that you should overcome:
Fear
Cynicism
Laziness
Bad Habits
Newer edition has 2 extra chapters
Beautiful description & explanation on asset management and accumulation love. On behalf of the lower an middle classes, we genuinely thank you🙏🏾🙏🏾🙏🏾
Don't, the book is BS. investing is a form of gambling. And money education is another get rich quick scam.
thanks a lot, perfect narration. i havent checked your library yet, but nice books are: the greatest salesman in the world, the richest man in babylon, and your money or your life. in case you wish to make one for them.
What was his first book??? This is a 20/80 book. Read once and don't waste any more time.
I was watching this as a broke, homeless person. After just 2 weeks of implementing the lessons, i now own seven businesses and have $8.7 million in the bank. I have also aged backwards and am now younger than I used to be.
Are you serious man? If it’s true 😮 congrats. I want to do this too
😂 really!
Lmfaoooooooo cap asf
Book doesn't tell you that many ppl invest and only small amount of ppl suceed. Some things are stupid in this video, increase in cash increases consumption of money, but we all earn money to use it, not to watch it or invest it at all cost, life goes on, somebody wants good watch, nice car, etc.
Can u guys tell me what asset is?🎀
When I was 13 I read this book and it changed my perspective if money
I have started to employ the teachings of Rich Dad Poor Dad. I always ask myself if whatever I am buying is an asset or a liability. I prioritize assets over liabilities. Inthe process, I invested in some startups got some money then lost it again. However, I have seen that there is more money in an investment than whatever you earn from a salary. Obviously, I would invest again.
I have also managed to sucure an asset that soon is going to save me about a third of my salary. So, maybe, I should count myself a rich dad now. However, I am nowhere near any riches right now. It's a process to get there but the beautiful thing is to start the process early enough and to have a clear idea of what to do to reach where you intend to. I'm loving the process. Thank God.
Can you elaborate more? What exactly did you invest in at which price and which date? What is this asset, you're talking about? My problem with all the self help in finance bs is, that it NEVER gets tangible, always stays vague and within concepts and mind sets, builds motivation and hype for the reader/listener but when it comes to actually acting in the real world (what execrably are the next small steps within the next 48 hours? What is the milestone for the next two weeks and the EXACT steps towards that milestone? What are the milestones for the next few months etc.) it NEVER goes into any detail at all, it NEVER gets tangible, always stays somewhere in a meta-realm, that has no real life application, that can be acted upon right now. I have yet to find a book, that actually made someone money.
Am I the only one who heard the voice Crack at 25:04?
Is the book located across all countries ?
Poor Dad sounds like a much more moral human being than Rich Dad!
Imagine everyone in this planet acts line rich dad. All the streets will be dirty and no food for anyone. How about loving others and value of hard work?
@@yikwonjang2978It would seem that in order for one to have money another must be without it. When you help other people and don't focus as much on yourself then you're spreading your wealth.
@@jamalecar4790
If you're the one with the money and also spreading it instead of hoarding it/showing it off, it's a win/win.
@@andrewwashere82 What is it you're giving up in the process of spreading it though?
@@jamalecar4790
For me, it would be a life of luxury. But I'm also a bit of a minimalist, so I'm fine with that. As long as I have enough to meet my needs and some wants, I'm happy. But I doubt most rich ppl are like that.
23:15 invest or invent?
WHICH APP DO YOU USE TO DO THOSE TYPES OF ILLUSTRATIONS ?
great summary! thank you!!!