Rich dads conspiracy of the rich : a book review 


Rich dad’s conspiracy of the rich by Robert Kiyosaki. What the rich know about money that most people don’t know, and it is what you know that distinguishes you.
Financial expert Kiyosaki is sharing with us secrets about money to be enlisted Among the rich. Stay tuned

There are four financial forces that cause most people to work hard and yet struggle financially.

1. Taxes

2. Inflation

3. Debt

4. Retirement
* If people do not learn about money, they can end up exchanging their freedom for a paycheck.

* Today, financial security is more important than job security

* Financial intelligence is not so much about how much money you make, but how much money you keep, how hard your money works for you.

Without education a person cannot translate information into personal meaning. Information without education is limited in value. We will add to our financial education by learning the new rules of money and how the new rules affect you, whether you realize it or not.

1. New rule of money #1: money is knowledge. Today you do not need money to make money, you simply need knowledge: Go for knowledge. Today in the Information Age,fortunes are lost in the blink of an eye as a result of bad or good information.

2. New rule of money #2: learn how to use debt, here is bad debt and good debt, it is wise to pay off bad debt or not get into it at all. Bad debt takes money out of your pocket but good debt takes money into your pocket. Bad debt:- credit used to buy depreciating items like big screen televisions, gadgets etc . Good debt:- a loan from an investment in propertyetc that you rent out or sell, provided that the assets cash flow covers the debt pay,net and puts money in your pocket.
3. New rule of money #3: learn to control cash flow. If you want to be financially secure and possibly rich, you will need to know how to control your personal cash flow as well as monitor the global cash flow of jobs, people and money. Learning how to use debt is one of the most important skills a person can learn. Debt is only as good as the cash flow it can provide.
4. New rule of money #4: prepare for bad times and you will only know good times. Greshman’s law: when bad money comes into circulation, good money goes into hiding.
5. New rule of money #5. The need for speed: today, the faster a person can transact business, the more money he will make.

Pareto principle-the 80-20 rule

* For many events, about 80% of the effects come from 20% of the causes

* Applied in business, 80% of your business comes from 20% of your customers- so take good care of them.

* If you want to win the game of money, you cannot be average, you need to be in the top 20%

Please follow and like us:

Leave a Reply