Channel: Primed

Category: Howto & Style

Tags: robert kiyosaki rich dad poor dadassets and liabilities balance sheethow to become richthings rich people dorich peopleliabilitycashflow quadrantwhat rich kids buyrich dad poor dadassets vs liabilitiesrobert kiyosaki 2018poor peoplehow to get richassets and liabilities explainedassetsthings poor people doprimedone thing rich people buyhow to investrich vs poorliabilitiesfinancial educationassets and liabilitiesrobert kiyosaki

Description: Rich dad Poor dad: amzn.to/2EupdL4 Cashflow Quadrant: amzn.to/2JqhtO2 Website: primedlifestyle.com Instagram: Primed How to build a passive income business via Amazon (FBA) youtube.com/watch?v=Akh70SQ6X54 REIT money.usnews.com/investing/slideshows/the-10-best-reit-etfs-on-the-market?slide=2 investopedia.com/articles/investing/060315/top-5-highestpaying-dividend-reits-2015.asp Best Crowdfunding sites fitsmallbusiness.com/best-real-estate-crowdfunding-sites richdad.com/Resources/Rich-Dad-Financial-Education-Blog/December-2017/the-financial-statement-foundation-for-being-rich.aspx If you want to be be rich, there is one simple rule that will make you financially independent if you follow it. It’s rule number one and the only rule you really need to know and is also the sole reason for why the rich gets richer, the poor gets poorer and the middle class struggles. So one of the reasons the rich gets richer, the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school. Schools will never teach how to make money work for people, but it does a good job in qualifying people to work for money. The basis of this video comes from Robert Kiyosaki and his best selling books on personal finances “Rich dad poor dad” as well as “the cashflow quadrant” and I highly recommend you to check these out to learn more about it. The reason why the rich gets richer while the poor and middle class struggles comes down to their personal balance sheet and income statements. Their income matches their expenses no matter how many pay raises they get, and their liabilities will only grow larger leaving the asset column untouched. So rule number one and the only rule you need to know: Know the difference between an asset and a liability, and buy assets. That’s it. Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets. The rich get richer because they invest their income into their asset column which over time will only generate more income until their assets cover their expenses completely and they are out of the rat race. And the assets will only grow, hence the income it produces grows with it making the rich get even richer. So what are some of these assets that rich people buy that will keep them rich? Well I’m actually gonna give you best ones right now. So the four asset classes are real estate, owning a business, paper assets and commodities. Music: Life of Riley by Kevin MacLeod is licensed under a Creative Commons Attribution license (creativecommons.org/licenses/by/4.0/) Source: incompetech.com/music/royalty-free/index.html?isrc=USUAN1400054 Artist: incompetech.com