#FREE RICH DAD POOR DAD AUDIO BOOK HOW TO#

One crucial tax tool utilized by the rich is the 1031. The problem was that the governmentвЂ™s appetite for money was so great that taxes soon needed to be levied on the middle class. Once the government got a taste of money, their appetite grew. Instead of punishing the rich, taxes are punishing the poor and middle-class. Historically, taxes were voted in by the poor and middle-class to only tax the rich. They are legally avoiding taxes, while the middle-class is paying for most of the governmentвЂ™s spending. Today, the rich are playing a smarter game. StoryShot #5 вЂ“ How Taxes Have Benefited the Rich Identify assets that can be bought to cover the liabilities associated with a house. So, we should view a house as a liability. But, there are many liabilities associated with a house: mortgage payments, insurance, property taxes, and substantial amounts of money stuck in a house. Many people view buying a house as buying an asset. A liability is something that takes money out of your pocket. An asset is something that puts money in your pocket. Rich people are those that acquire assets, while poor people are those who acquire liabilities. Assets are the things that you want to be buying. The first and most important lesson is you must understand the difference between an asset and a liability. That said, Robert believes it is the most important subject if you want to be rich. Wealth is the number of days you could survive if you stopped working today.ДЄccounting is not the most stimulating subject.

#FREE RICH DAD POOR DAD AUDIO BOOK HOW TO#

Although you need to earn money, it is more important to know how to keep your money. Most people believe that making money is the most effective way of becoming rich. StoryShot #4 вЂ“ Use Accounting to Keep Your Money We must be directed by passion rather than fear. Robert describes anger as extremely important, as passion is merely a combination of love and anger. That said, you will also need to harness anger positively. Learning will take a combination of energy, passion, and desire. If you realize youвЂ™re the problem, you can change yourself, learn something, and grow wiser. So, instead of blaming other people for not being rich, you have to accept that you are the problem. Robert highlights it is vital we learn it is easier to change ourselves than those around us. Robert explains that investing your time into creating assets that generate money is far safer.

If you are willing to step back, you can take opportunities and make far more money. Most people are stuck in the rat race and miss clear opportunities. Robert recommends you step back and forget about paychecks. So, they keep working to meet their desires and to squash their fears. These people see joy as coming from money, but this joy is short-lived. Even when these individuals gain a bonus or raise at work, they will respond by spending more money. This desire to obtain a paycheck is then swiftly replaced with a desire to spend what they have worked for. The reason most people choose this path is they are fearful of being without money. They will study hard, get good grades, and then get a safe job with safe benefits.

The non-rich will always seek out the conventional methods of making money. Both poor and middle-class people work for their money. Robert starts the book by describing the main difference between the rich and the poor. StoryShot #2 вЂ“ The Difference Between the Rich and Poor Financial literacy helps you control this cash flow pattern. Earning money only amplifies the cash flow pattern in your head. They will have learned how to make some money but have no idea how to spend their money. They will have developed knowledge that will help them pursue a specific profession but wonвЂ™t know how to keep the money they make. The vast majority of students will leave school with zero financial skills. StoryShot #1 вЂ“ We All Need Financial EducationДЇinancial literacy is extremely rare. The only meaningful difference was their mindset. RobertвЂ™s father was a genius, while his mentor didnвЂ™t even finish eighth grade. In this book, RobertвЂ™s example of a poor man was his dad, while the rich man was RobertвЂ™s financial mentor. He contrasts these mindsets with those who are poor. Robert Kiyosaki illustrates the mindsets and beliefs that define those who become wealthy. Rich Dad Poor Dad has been called the number one personal finance book of all time. He is also the author of over 26 books, including the best-seller Rich Dad Poor Dad (which sold over 41 million copies worldwide). The latter focuses on private financial education through the mediums of books, videos, and speeches. Robert Kiyosaki is an American businessman who founded Rich Global LLC and the Rich Dad Company.

Free rich dad poor dad audio book