Lesson #1: Make Your Money Work For You
Lesson #1: Make Your Money Work For You
When Kiyosaki was nine years old, he approached the father of his best friend, Mike, to teach him how to make money. The dad gave the young Kiyosaki a menial job in one of the convenience stores he owned. It was not exactly what Kiyosaki had had in mind. After three weeks of dusting cans and making just ten cents a week, Kiyosaki told his friend’s dad he wanted to quit. Kiyosaki had not learned how to make a fortune, but what he had learned was a lesson far more valuable, said the father. At the age of nine, Kiyosaki was beginning to understand the futility of working a job he hated for a meager salary that would not get him anywhere in life.
That lesson formed the basis of Kiyosaki’s later career, and is one of the major components in his teachings. Kiyosaki did not get to where he is today by going to work every day, being frugal, and saving his money. Instead, Kiyosaki learned to take risks – managed risks – and make his money do the working. “The poor and middle class work for money. The rich have money work for them,” says Kiyosaki. “The rich buy or create assets that work for them so they don't have to.”
In the Industrial Age, the formula for success was to go to school, get good grades and find a secure job for life. Either the company or the government would look after your financial wellbeing once you decided to retire. Today, says Kiyosaki, times have changed: “We are in the Information Age and more than job security we all need financial security…You can no longer rely on your employer or your government to take care of you.”
According to Kiyosaki, key to achieving financial security is in understanding the difference between an asset and a liability, and learning to leverage that difference. “An asset puts money in your pocket and a liability takes money from your pocket,” he says. “The rich understand the difference and buy assets, not liabilities.”
In his very blunt words, “Savers are losers.” Kiyosaki sees money just sitting in a bank account as money wasted. Your financial goals should not be to save money, get out of debt, or invest for the long term, unless you are content being one of the middle class, he says. But, if you want to be a part of the rich kids’ club, that kind of thinking is obsolete.
“Today, ‘save money’ is bad advice,” says Kiyosaki, who has made most of his fortune in shrewd real estate investments, and teaching the rest of the world how to do the same. “I have a problem with too much money. I can't reinvest it fast enough, and because I reinvest it, more money comes in. Yes, the rich do get richer.”
Lesson 1 Make Your Money Work For You
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“We go to school to learn to work hard for money,” says Kiyosaki. “I write books and create products that teach people how to have money work hard for them.”
When Kiyosaki was nine years old, he approached the father of his best friend, Mike, to teach him how to make money. The dad gave the young Kiyosaki a menial job in one of the convenience stores he owned. It was not exactly what Kiyosaki had had in mind. After three weeks of dusting cans and making just ten cents a week, Kiyosaki told his friend’s dad he wanted to quit. Kiyosaki had not learned how to make a fortune, but what he had learned was a lesson far more valuable, said the father. At the age of nine, Kiyosaki was beginning to understand the futility of working a job he hated for a meager salary that would not get him anywhere in life.
That lesson formed the basis of Kiyosaki’s later career, and is one of the major components in his teachings. Kiyosaki did not get to where he is today by going to work every day, being frugal, and saving his money. Instead, Kiyosaki learned to take risks – managed risks – and make his money do the working. “The poor and middle class work for money. The rich have money work for them,” says Kiyosaki. “The rich buy or create assets that work for them so they don't have to.”
In the Industrial Age, the formula for success was to go to school, get good grades and find a secure job for life. Either the company or the government would look after your financial wellbeing once you decided to retire. Today, says Kiyosaki, times have changed: “We are in the Information Age and more than job security we all need financial security…You can no longer rely on your employer or your government to take care of you.”
According to Kiyosaki, key to achieving financial security is in understanding the difference between an asset and a liability, and learning to leverage that difference. “An asset puts money in your pocket and a liability takes money from your pocket,” he says. “The rich understand the difference and buy assets, not liabilities.”
In his very blunt words, “Savers are losers.” Kiyosaki sees money just sitting in a bank account as money wasted. Your financial goals should not be to save money, get out of debt, or invest for the long term, unless you are content being one of the middle class, he says. But, if you want to be a part of the rich kids’ club, that kind of thinking is obsolete.
“Today, ‘save money’ is bad advice,” says Kiyosaki, who has made most of his fortune in shrewd real estate investments, and teaching the rest of the world how to do the same. “I have a problem with too much money. I can't reinvest it fast enough, and because I reinvest it, more money comes in. Yes, the rich do get richer.”
Lesson 1 Make Your Money Work For You
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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