They avoid risk because they are led by fear. They often seek a steady job with a benefits package. E (employees): E’s work for companies or the government. He introduces the Cashflow Quadrant, which organizes people into these categories:ġ. Kiyosaki’s second installment reaches deeper into the minds of four types of people and the ways they generate income. Rich Dad Poor Dad offers lessons and ways of thinking that can result in money working for you rather than you working to pay bills and expenses. A proponent of financial IQ, he suggests that people can avoid the “rat race” of living paycheck-to-paycheck and hopping from one job to the next by managing cash flow. He maintains that passive income from businesses, real estate, dividends and other assets are what provide the ability to increase cashflow and excel financially. Kiyosaki states that it is liabilities like the house you bought to live in, goods that depreciate in value (doodads), consumer loans and credit cards are what keep a person from attaining real wealth. He challenges the basic belief of your home as an asset. He establishes assets as anything that puts money in your pocket and liabilities as anything that takes money out. Robert stresses recognizing the difference between assets and liabilities, then acting to increase the former and limit the latter. It demonstrates that being rich begins with a state of mind. “ Rich Dad, Poor Dad“, the first book by Kiyosaki, provides much background for Cashflow Quadrant (book 2).
#CASHFLOW RICH DAD POOR DAD HOW TO#
By the lessons he learned from his father (Poor Dad) and the mentorship of his friend’s father (Rich Dad), Robert began to learn how to manage risk and make money work for him. Kiyosaki pursued business and investing from a very young age. Robert Kiyosaki is a businessman and author of the Rich Dad Poor Dad series. It examines four different ways of thinking about money, their advantages and disadvantages, and the path you can take to reach financial freedom.
Rich Dad’s Cashflow Quadrant, by Robert Kiyosaki, is about defining how you generate money through self-awareness and action. Today, we decided to review one of the most influential personal finance book of all time. In our previous book review, we shared Peter Lynch’s One Up on Wall Street.
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