random
Player Valuation: £15m
Anyone read Rich Dad Poor Dad?
Finished it today.
To be fair its better than a lot of the self motivation books from people like Tony Robbins, Grant Cardone etc, obviously they are more mindset, this is a bit more practical imo
couple of things stood out
1. The comic book library lol
2. don't climb the ladder - own it
I liked how he came up with plans on how to use his methods and the basic illustrations regarding assets/liabilities/income/expenditure
My take on it in an nutshell,
(bear in mind he is in the US so tax advantages etc might not apply elsewhere)
1. Form a company/corporation and charge everything to it so your tax burden reduces
2. Work more than one job if you can, preferably one of them in sales and sell as much as you can
3. With your commissions save everything possible, don't buy anything until you can buy a house/apt in a market dip, offer half the asking price if the seller looks desperate
4. As soon as the market goes up, cash out and re-invest in another place using the method above
5. keep doing that and its even better if you get tenants in the properties
6. In addition to the above, invest in stocks and shares
7. Get a passive income whilst you are still working until your passive income generates enough funds for you to stop working for someone else
8. The passive income should be property/stocks/anything else (book writing or whatever you can do) that will keep a steady flow of money coming in
(bear in mind he is in the US so tax advantages etc might not apply elsewhere)
1. Form a company/corporation and charge everything to it so your tax burden reduces
2. Work more than one job if you can, preferably one of them in sales and sell as much as you can
3. With your commissions save everything possible, don't buy anything until you can buy a house/apt in a market dip, offer half the asking price if the seller looks desperate
4. As soon as the market goes up, cash out and re-invest in another place using the method above
5. keep doing that and its even better if you get tenants in the properties
6. In addition to the above, invest in stocks and shares
7. Get a passive income whilst you are still working until your passive income generates enough funds for you to stop working for someone else
8. The passive income should be property/stocks/anything else (book writing or whatever you can do) that will keep a steady flow of money coming in
Overall its a fairly decent read, however he has written a lot of books, not sure if there would be value or a lot of difference in reading more than one of them though