Rich Dad Poor Dad | S5 – E26 | Lesson V | The Rich Invent Money

Once we leave school, most of us know that it is not so much a matter of college degrees or good grades that count. In the real world outside of academics, something more than just grades is required. I have heard it called many things; guts, chutzpah, balls, audacity, bravado, cunning, daring, tenacity, and brilliance....

Rich Dad Poor Dad | S5 – E25 | Lesson IV | Financial IQ

I remind people that financial IQ is made up of knowledge from four broad areas of expertise: 1. Accounting - Accounting is financial literacy or the ability to read numbers. This is a vital skill if you want to build an empire. The more money you are responsible for, the more accuracy is required, or...

Rich Dad Poor Dad | S5 – E23 | Lesson IV | The History of Taxes & The Power of Corporations

I remember in school being told the story of Robin Hood and his Merry Men. My teacher thought it was a wonderful story of a romantic hero who robbed from the rich and gave to the poor. My rich dad did not see Robin Hood as a hero. He called Robin Hood a crook. Robin...

Rich Dad Poor Dad | S5 – E22 | Assets you DON’T Have to Follow!

So what kind of assets am I suggesting that you or your children acquire? In my world, real assets fall into the following categories: Businesses that do not require my presence I own them, but they are managed or run by other people. If I have to work there, it’s not a business. It becomes...

Rich Dad Poor Dad | S5 – E17 | The Richer get Richer like THIS

I'm going to give you two financial statements: poor dad's and rich dad's. First thing is first, we have the income statement and balance sheet. Poor dad's financial statement is right down the middle; 50/50. Income takes up half and expenses take up half. On the other hand, Rich Dad's financial statement has 70% income...

Rich Dad Poor Dad | S5 – E11 | Assets vs. Liabilities | Cash-flow Pattern of an Asset

Rich dad believed in the KISS principle—Keep It Simple, Stupid (or Keep It Super Simple)—so he kept it simple for us, and that made our financial foundation strong. So what causes the confusion? How could something so simple be so screwed up? Why would someone buy an asset that was really a liability? The answer...

Wheel of Life: July 2019 Edition – TAKE OFF!

Damn, about DAMN time! I mean, having about 300$ to my name (and I'm not saying that embarrassingly, either) was rough. Looking back and saying to myself, "I had x amount in my account and had to bitch at a part-time employer to pay me on-time). This was such a monster, and to be able...

Wheel of Life: February Edition – On Track & Amazed

Welcome back to another edition of the Wheel of Life, people! Now, lots of new people from all over the world are tuning in, so let me go over how this actually works. Eight categories -- scale 1 - 10 -- goal is to be honest. Look at my scores below. Personal Development - 10...