Your Guide to Wealth
Your Guide to Wealth (by: Robert Kiyosaki) Raising our Financial IQ
“Wealth is Time and Rich is Money”
CashFlow Quadrant
- E – Employee
- S – Small business owner / Self employed
- B – Big Business / Business owners
- I – Investors
3 Types of Education
- Academic Education
- Professional Education
- Financial Education
Terms @ 17:11 of the Video
Credit Report (E and S)
Financial Statement (B and I)
Definition of Assets and Liabilities
Some people said, in order to get rich you need to follow below, but this doesn’t make you Financially free!!!
- Work Hard
- Save Money
- Get Out of Debt
- Invest for Long Term
- Diversify
“It takes money to make money”
Risky among Investments are: (most people say it’s safe!)
- – Savings
- – Stocks
- – Bonds
- – Mutual Funds
1971 – Money became Currency
6 Controls as an Investor
- Income
- Expense
- Asset
- Liability
- Financial Education / Management
- Insurance
Game of Money
- Pre Game Show
- 25-35 1st Quarter
- 35-45 2nd Quarter
- Half-Time (Mid-life crisis)
- 45-55 3rd Quarter
- 55-65 4th Quarter
- Over-Time
- Out of Time
“Spend your Health gaining Wealth”