What I learned from Rich Dad Poor Dad

Great book if you have not read it you should get it, its the book that set the foundation for my new life,

“freedom starts financially”

1. Stop Trading your most important resource for money!

By now if you don’t know what your most valuable resource is its time and you only have a certain time to live for some people it will be 84 years some people it will be 30 years and someone is living there last day today but the thing is what are doing now that is making you money?

if you said I have a job

Only problem with that is your only getting paid on the job or when your clocked in and there at the job, to make it plain and clear to you its going to take you several thousand hours to buy that dream car you wanted and maybe a half a million hours to buy that sick pad you always wanted and couple thousand hours each month just to make sure that your sick pad keeps its lights on!

so obviously by now you know that a job is not going to cut it since you will die a pissed off old man screaming damm girl

haha kidding

anyways so if you were to get away from trading your time for money what would be the next option?

still thinking?

Ok stop let me just help you out its simple all you have to do is go from the average thinking that we all go through called trading time for money seriously its time to get on another level by now… to going to leveraging other people and money to make you money

if you got what I just said I just want to congradualte you to the new rich my friend, even if you missed it let me say it again shift your thinking from trading time for money to leveraging people or money to make you money

kinda making sense?

why is that so important to be apart of the new rich?

well let me tell you something if you were to  be caught up in one way to make money you can only make yourself so much for instance if someone told you hey man let me give you 4 dollars for each gallon of water that you bring me to me you would of said cool I’m set for life since the mountain is not that far I have a truck i can fill up probably 40-80 gallons and I’m set

only problem with that is that you are still in the trading time for money phase

the right way would be to bring him water in your truck and once he has given you money build a pip from the spring to the gentlemen’s house who is paying you $4 per gallon and boom you have money without working for it!

easy right!

 

2. What separates the rich from the poor:

Cool now you have your first pipeline built your getting all this money you barley even know what to do with and you start buying all this stuff and your money is now starting to run out since your living at your limit meaning you take all the money you make and spend it

the story above is basically what happens to most people and that is the problem and why most people don’t get rich or get to the level they feel successful at least and that is why most people go back to being poor even though you were once successful and prosperous…

so what happened?

its called liabilities

remember this word because if you have no ideas what it means or stands for you are truly going to end up on the streets some day and without nothing

has not happened to me yet but it can so respect that word

anyways lets get back to it

what  is a liability?

simply a liability is anything that takes money out of your pocket like a house for instance since it takes money to heat, clean, etc

anything that takes money out of your pocket is a liability

car

sport

sports car

hobbies

wife (not always)

home

so with that being said how do the rich do it?

well here is the secret that no one tells you?

they don’t live the flashy lifestyle most of the millionaires I know they live a normal lifestyle occasionally they go to restaurants, travel, vacation but nothing out of the ordinary they drive Toyotas and live in houses appraised under 300k and they enjoy there freedom

most millionaires only spend 5% of there net worth on a car so lets do the math

1 Million 5% of that is 50K

I’m probably as shocked as you are!

So what is the key here?

they live bellow there means and that is what keeps them from ending up broke and keeps them rich and they use most of there finances to reinvest into other pipelines like rental properties, businesses , and such

 

I don’t want to spoil the rest but seriously get the book it will help you out

 

Keep it Pipeline,

David

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