![in the game titled cashflow 101 what is the overall goal of the game in the game titled cashflow 101 what is the overall goal of the game](https://www.richdad.com/MediaLibrary/RichDad/Images/cashflow/classic/classic-what-makes-it-different.png)
I also invest in online courses that are mostly related to self-development, personal finance, and online business.
![in the game titled cashflow 101 what is the overall goal of the game in the game titled cashflow 101 what is the overall goal of the game](https://www.richdad.com/MediaLibrary/RichDad/Images/cashflow/board-game/CASHFLOW-the-board-game-personal-financial-statement-fast-track-icon.jpg)
I loved it and still learn a lot today, mostly by watching motivational videos on YouTube and listening to podcasts and audio books while exercising. I’m also grateful that I got the opportunity to become an events coordinator and Chief Operating Officer of an events company that allowed me to attend more seminars and workshops including the National Achievers Congress where Robert Kiyosaki was one of the speakers. Even when I was still working in the corporate world, I would set aside a portion of my income for seminars and workshops. Learning is not only great for your career but also for your finances and life. It talks about the power of the mind and continual learning. I haven’t started investing in real estate yet, but this book inspired me to know more about real estate investments.ĥ. It pushes investing, especially in real estate. It advocates controlling spending/expenses.Ĥ. I like this! What else could anyone conclude when I suggest earning as much as you can in a good way, saving it, and investing it? The process is designed to turn earnings into investments and thus make people wealthy.ģ. It focuses on turning earned income into income-producing assets. I like reading different/unique perspectives, especially when they are explained in logical ways and backed up with solid financial principles like keeping expenses low.Ģ. He’s also very much a “pull yourself up” sort of guy which angers those who would rather sit around and make excuses for their lack of wealth (while taking zero action). When you say personal residences aren’t assets, income isn’t as important as assets, and so forth, people tend to get upset (especially those with big houses, high incomes, and few assets!)
![in the game titled cashflow 101 what is the overall goal of the game in the game titled cashflow 101 what is the overall goal of the game](https://image.slidesharecdn.com/cashflowboardgamedesignspatents-140318174510-phpapp02/95/cashflow-101-board-game-gesigns-patents-kiyosaki-2-638.jpg)
This is probably why Kiyosaki gets so much hate. This is what I like about the book - it looks at things from a unique perspective. Much of what Kiyosaki says is contrary to “common knowledge” in the personal finance world. Learning meant everything to my rich dad. Lesson 6: Job security meant everything to my educated dad. So they are left behind while others forge ahead. But most people can’t/won’t make a few, small steps to grow their careers. It’s clear your career is vital to financial success. Many people limit their financial results simply because they lack the fortitude to take action. If we simply push forward a bit here and there, small progress will add up and make us wealthy. Of course, there are few Warren Buffett’s but the good news is that none of us need to be that stellar. Sure he’s patient, deliberate, and thoughtful but he also has guts (he invests billions at a time and takes big stakes in his investments)! And most would certainly say he is brilliant. One example of the sort Kiyosaki is talking about who you might not initially think fits the bill is Warren Buffett. This factor, whatever it is labeled, ultimately decides one’s future much more than school grades do. I have heard it called many things guts, chutzpah, balls, audacity, bravado, cunning, daring, tenacity, and brilliance. In the real world outside of academics, something more than just grades is required. Once we leave school, most of us know that it is not so much a matter of college degrees or good grades that count. Lesson 5: Often in the real world, it’s not the smart who get ahead but the bold. This seems like a better way to lower taxes. Personally, I prefer his other advice for lowering taxes (later in the book): work to reduce earned income (which is taxed at the highest rates) and increase investment income (which can either deduct expenses before being taxed or is taxed at lower, capital gains rates). It seems a bit scammy to me even if it may be technically correct and allowed by law. Kiyosaki doesn’t follow the traditional definition of net worth, but defines wealth this way: If you can earn a lot and spend little, you can create a huge gap that will fund a boatload of investing - which will make you wealthy. He’s also very adamant about keeping expenses low, which is something I like. It’s not that he says to abandon your career, he just advocates using career income for the right purposes, to invest in assets and not spend it all on consumer products. I think Kiyosaki gets an anti-job label from some that’s not deserved. Keep expenses low, reduce liabilities, and diligently build a base of solid assets. Keep your daytime job, but start buying real assets, not liabilities or personal effects that have no real value once you get them home. Lesson 3: The rich focus on their asset columns while everyone else focuses on their income statements. He lists a personal residence as a liability, not an asset, because it has many associated costs with it. Anything that has value, produces income or appreciates, and has a ready market.