Read Online Unfair Advantage -The Power of Financial Education by Robert T. Kiyosaki - Free Book Online
Book: Unfair Advantage -The Power of Financial Education by Robert T. Kiyosaki
Read Free Book Online
Authors: Robert T. Kiyosaki
Ads: Link
three more years to reach that goal.
Here is a snapshot of our asset column in 1994:
Financial freedom to Robert and me was not amassing millions of dollars in savings on which to live. It was simply to have the cash flow coming in every month from our investments, whether we worked or not. Our cash flow in 1994 was $10,000 per month. This was not mega-dollars, but our expenses at the time were only $3,000 per month. At that point, we were free. Our cash flow from our assets more than paid for our monthly expenses. It was at that moment that we had the luxury to ask ourselves, “What is it we really want to do with our lives?” Being able to ask that question, more than having the money, is true freedom.
As a couple, what is our unfair advantage? First, we set our financial goals together. Second, we study and we learn together in order to achieve the goals we’ve set. We attend seminars, read books, meet with real experts, and work with coaches so that we get what we want in life.
My very first gift from Robert when we were first dating was not a nice piece of jewelry or my favorite perfume. No, my first present was a seminar on accounting! I guess he wanted to be sure I knew my assets from my liabilities. When I left college, I vowed I would never step foot inside another classroom again. I was so done with school. But what I discovered when I took this accounting class, in which we played a game for two days, was that I loved learning! I just didn’t like what or how the school system taught. So this first gift was much more than an accounting class. It renewed my passion for learning.
There is a lot of information in the world on any subject, especially money, so we are constantly seeking out the most relevant information we can find. At every workshop we attend, I know I will glean at least one new idea that I can apply. We work with coaches, be it a fitness coach, business coach, or investment coach, because sometimes we need that kick in the butt to keep us moving forward.
That is what I see as our unfair advantage. And it’s something that anyone can do. It’s not rocket science. There is no special sauce. It is, I must say, one of the keys to keeping our relationship new, ever-growing, and fun. And as a couple, it allows us to have what we truly want in our lives.
So every year around New Year’s Day, Robert and I set, along with other important goals, our asset goals. The purpose of the goal is to continue to add assets to that all-important column on our financial statements.
Today our asset column is filled with assets from all four of the main asset classes: businesses, real estate, paper assets, and commodities. We’ve created many businesses that generate cash flow. Our real estate ranges from apartment houses to commercial properties to resorts and golf courses. We have some paper assets in our asset column, and commodities take up a good deal of space in the form of silver, gold, oil, and gas. When the traditional financial advisor recommends you diversify, he or she is usually advising you to diversify within one asset class: paper assets. Robert and I diversify, but not within one asset class. We diversify throughout all four asset classes.
It’s my experience that what you focus on expands. Setting an asset goal every year and focusing on achieving that goal has definitely expanded our asset column, and yes, it has brought us cash flow. Even more importantly, it has given us freedom.
In Summary
As Kim explained, the true purpose of education is to give a person the power to take information and process it into knowledge.
If a person has no financial education, they cannot process information. They do not know the difference between an asset or a liability, capital gains or cash flow, fundamental investing or technical investing, why the rich pay less in taxes, or why debt makes some people rich and most people poor. They do not know a good investment from a bad investment, or good advice from
Here is a snapshot of our asset column in 1994:
Financial freedom to Robert and me was not amassing millions of dollars in savings on which to live. It was simply to have the cash flow coming in every month from our investments, whether we worked or not. Our cash flow in 1994 was $10,000 per month. This was not mega-dollars, but our expenses at the time were only $3,000 per month. At that point, we were free. Our cash flow from our assets more than paid for our monthly expenses. It was at that moment that we had the luxury to ask ourselves, “What is it we really want to do with our lives?” Being able to ask that question, more than having the money, is true freedom.
As a couple, what is our unfair advantage? First, we set our financial goals together. Second, we study and we learn together in order to achieve the goals we’ve set. We attend seminars, read books, meet with real experts, and work with coaches so that we get what we want in life.
My very first gift from Robert when we were first dating was not a nice piece of jewelry or my favorite perfume. No, my first present was a seminar on accounting! I guess he wanted to be sure I knew my assets from my liabilities. When I left college, I vowed I would never step foot inside another classroom again. I was so done with school. But what I discovered when I took this accounting class, in which we played a game for two days, was that I loved learning! I just didn’t like what or how the school system taught. So this first gift was much more than an accounting class. It renewed my passion for learning.
There is a lot of information in the world on any subject, especially money, so we are constantly seeking out the most relevant information we can find. At every workshop we attend, I know I will glean at least one new idea that I can apply. We work with coaches, be it a fitness coach, business coach, or investment coach, because sometimes we need that kick in the butt to keep us moving forward.
That is what I see as our unfair advantage. And it’s something that anyone can do. It’s not rocket science. There is no special sauce. It is, I must say, one of the keys to keeping our relationship new, ever-growing, and fun. And as a couple, it allows us to have what we truly want in our lives.
So every year around New Year’s Day, Robert and I set, along with other important goals, our asset goals. The purpose of the goal is to continue to add assets to that all-important column on our financial statements.
Today our asset column is filled with assets from all four of the main asset classes: businesses, real estate, paper assets, and commodities. We’ve created many businesses that generate cash flow. Our real estate ranges from apartment houses to commercial properties to resorts and golf courses. We have some paper assets in our asset column, and commodities take up a good deal of space in the form of silver, gold, oil, and gas. When the traditional financial advisor recommends you diversify, he or she is usually advising you to diversify within one asset class: paper assets. Robert and I diversify, but not within one asset class. We diversify throughout all four asset classes.
It’s my experience that what you focus on expands. Setting an asset goal every year and focusing on achieving that goal has definitely expanded our asset column, and yes, it has brought us cash flow. Even more importantly, it has given us freedom.
In Summary
As Kim explained, the true purpose of education is to give a person the power to take information and process it into knowledge.
If a person has no financial education, they cannot process information. They do not know the difference between an asset or a liability, capital gains or cash flow, fundamental investing or technical investing, why the rich pay less in taxes, or why debt makes some people rich and most people poor. They do not know a good investment from a bad investment, or good advice from
Similar Books
