Imagine you were to stop working today, how long will you be able to survive on your remaining savings? This question I just asked is the real definition of wealth.
I want you to go through this Inspirational Story about Robert Kiyisaki with a very open mind. Robert Kiyosaki is the author of so many books including the bestselling “Rich Dad Poor Dad” He’s an American investor, business man, motivational speaker and financial commentator. He became well known in the recent year and he have an estimated worth of over $80 million
Robert Kiyosaki wasn’t born rich. He came from an average family that worked hard but unfortunately didn’t have much financial education and often time struggle with money. So, how then did Robert became rich today? Let’s get the answers from a short story from one of his bestselling book “Rich Dad Poor Dad”
Robert Kiyosaki was born in April 1947 in a town called Hilo in Hawaii. In 1957, when he was 9 year old, Robert Kiyosaki was attending the same school that other rich kid of Hilo influencer’s citizen were attending. And then, something happened. Little Robert noticed that the rich kids from well-known families like bankers, business men and so on separated themselves from him because his own family didn’t have enough money to buy the latest gadgets and toys for him.
One day, little Robert asked his dad who had a PHD and got excellent degrees from different Universities. Dad, can you tell me how to get Rich? His dad didn’t know the answer because he was not rich himself. So , he answered, son, if you want to be rich, stay in school, study hard and get a good grade so you can get a good job after school. In the book, Robert refer to his dad as the poor dad. His dad wasn’t poor in the real sense. In fact, his dad was making good income, just dad as the time passes, his dad went into debt till the day he passes on.
On the other hand, Robert had a friend in school named Mike. This little lad came from an average family too but Mike’s dad who had knowledge about wealth creation and strong financial principles started mentoring and sowing this seed into his son and Robert’s mind from that tender age. Mike’s dad is the person Robert referred to as the Rich Dad. His rich dad though not born rich or influential later became rich and one of the most influential people in Hawaii. At the time when he was sowing the seed and principles of wealth, he wasn’t rich himself.
He told them, if you want to get rich, the first thing and most important thing you need to know is recognizing the difference between Assets and Liability. Rich people invested into and acquire assets while the poor and the middle class acquire liabilities. He said, often times, they think it’s an asset.
The real cause of financial struggle is simply not knowing between asset and liability. Do you know what asset and liabilities are? He asked them. Nodding their head back, he said Asset is what put money into your pocket while liability is something that takes money out of your pocket.
The poor dad for example was making good income but his expenses are also going high and at the end of the day, his income was less than his expense and so he went into debt. The rich dad started making money from his income and he minimize his expenses to invest into assets in order to build a passive income. Passive income is any investment that put money into your pocket without you trading your time for it. Examples are businesses that don’t requires your presence, stock, bonds, royalties, notes, mutual funds , Online business like blogging and other passive income online.
Rich dad taught them how to study hard, work hard and invest in order to have a lifestyle free of struggles and regrets.
I hope you enjoy this short story from the Robert KIyosaki’s Rich Dad Poor Dad bestselling book.
What do you learn in this short story teach you, what have you been doing in your financial life that you can correct today so that you will begin to flourish in this new year? Leave your comment below , I will be glad to learn from you.
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