Partial Book Review Of Rich Dad Poor Dad
This book has so many amazing financial gems in it that I wanted to share while I was about halfway through the book and the information was still fresh in my mind. Some of the main points he made were that you should focus on buying assets to generate more wealth and avoid liabilities. Most people think certain liabilities are assets when they are not. The rich focus on acquiring assets and diversifying and letting their money work for them. Financial literacy is a crucial component to success. There are so many more!
Note that near the end I say I use my rent as part of my income tax and I sort of fumble with what I'm saying. I'm saying that rent if you're working from home can be used as a deduction from the income tax you would have to pay.
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great work my friend,i support and agree your post..!
Thanks so much!
thank welcome brother..
I have and love all these Robert Kiyosaki's books. These were the first real books about investment and life I was reading when they came out.
I keep on going back to them once in a while since they are just amazing books.
Thanks for sharing @scottcbusiness
What I learnt from Robert Kiyosaki's book is turning liability to asset. Often times, we acquire liability with the mindset of building our riches which is a sure path way to accumulating debt. But he turned the equation around with this illustration:- Let assume you have a landed property in LA, but instead of residing in Los. You decided to lease it out on a fee - $200 per annum. Isn't that an asset? Meanwhile, an apartment which some people are living in is a liability to them. They pay taxes and maintenance fee.
Nice video, but the book helped most of your content, and it is a good book :) I have this book sitting around, but haven't had time for it, not am I a passionate book reader. But I have read "The richest man in Babylon", similar, but this one is better ;)
Thanks! And interesting I'll look into that.
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