
Rich Dad's Who Took My Money?
Why Slow Investors Lose and Fast Money Wins!
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Narrado por:
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Tim Wheeler
Acerca de esta escucha
Learn what financial advisors don’t want you to know!
Robert’s rich dad often told him: “The faster your money moves, the higher the returns and the lower your risk.” Conventional financial wisdom recommends that you save money and invest for the long term. In other words: park your money.
That was not rich dad’s advice. He taught Robert to increase the velocity of my money. And, even if you start small, it’s advice that anyone can follow and benefit from.
©2004, 2012 Robert T. Kiyosaki (P)2012 Brilliance Audio, all rights reserved.Los oyentes también disfrutaron...
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Dubious content lacks substance
- De Warren en 07-29-07
De: Donald J. Trump, y otros
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Grunch of Giants
- De: R. Buckminster Fuller
- Narrado por: Andrew Heyl
- Duración: 3 h y 25 m
- Versión completa
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With the appearance of Grunch of Giants, R. Buckminster Fuller consummates his literary canon, his panoramic lifetime survey of all aspects of the responsibility of human beings for their own destiny. This book is a modern allegory - his long-gestated myth-of the villainy of capitalism and the fecklessness of classic economics. For Fuller, the academic discipline of economics is irrelevant since it derives from an invalid assumption of scarcity.
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Very Interesting stream of consciousness!
- De Average Joe en 05-13-25
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Capitalist Manifesto
- De: Robert T. Kiyosaki
- Narrado por: Brian Michaels
- Duración: 13 h y 39 m
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Capitalist Manifesto is dedicated to seeking out the truth behind the NEA, IRS, and FED―the National Education Association, the Internal Revenue Service, and the Federal Reserve Bank. In Capitalist Manifesto I offer alternatives that any person or family can put in motion. How can we counter communism taught in our schools? By teaching capitalism in our homes.
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Historically Accurate
- De PRodUSMC en 04-15-25
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Tax-Free Wealth
- How to Build Massive Wealth by Permanently Lowering Your Taxes
- De: Tom Wheelwright CPA, Robert Kiyosaki - foreword
- Narrado por: Tom Wheelwright CPA
- Duración: 8 h y 50 m
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Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Third Edition) by Tom Wheelwright® is a comprehensive guide that unveils strategic approaches to minimizing tax liabilities and accumulating significant wealth. As an acclaimed CPA and World-Renowned Expert on Tax, Wheelwright revisits and updates his groundbreaking work where readers are introduced to a wealth-building philosophy that revolves around using the tax code as a roadmap to building wealth in a way that makes taxes fun, easy, and understandable.
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Basically the message is own a business. Thanks
- De Amazon Customer en 09-16-24
De: Tom Wheelwright CPA, y otros
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Poor Charlie’s Almanack
- The Essential Wit and Wisdom of Charles T. Munger
- De: Charles T. Munger
- Narrado por: Grover Gardener
- Duración: 13 h y 9 m
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"Spend each day trying to be a little wiser than you were when you woke up," Charles T. Munger advises in Poor Charlie’s Almanack. Originally published in 2005, this compendium of 11 talks, delivered by the legendary Berkshire Hathaway vice-chairman between 1986 and 2007, has become a touchstone for a generation of investors and entrepreneurs seeking to absorb the enduring wit and wisdom of one of the great minds of the 20th and 21st centuries.
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Wisdom from grandpa Charlie
- De J R Cavanaugh en 08-18-24
Loved it
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How I changed my life
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loved it!!
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This book may give you a different perspective in the way you look at money.
Change of Perspective
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> WHO TOOK MY MONEY:
(From Rich dad poor dad series)
3 types of income
Ordinary
Portfolio
Passive
Model for building wealth:
1-Earn / Create
2- manage
3- leverage
4- protect
5- Exit
Remember to have a financial statement:
(This is from a video/previous book) and not from the book
- income
- Expenses
- Assets
- Liabilities
CASH-FLOW
Financial IQ is : can you control the cash flow ?
Poor quality food affects one’s health
Poor quality information affects one’s wealth
If you suspect something is an opinion rather than a fact or principle always Remember the 4 magical words! :
WILL YOU GUARANTEE IT ?
(in writing)
Buy upon facts and principles and not on opinions.
Don’t let your money sit
Markets move, keep your money moving, move it into businesses then out of them (exist)
Velocity and safety of the money is far more important than the amount of your money.
Never forget that the object of the game is to get your money
off the table and stay in the game
That what every gambler knows and every professional investor strives for!
Amazing example for $20000 investments and how to Increase the VELOCITY of your money!
1- 5% annual rate (mutual funds)
Net equity 28 K for 7 years
2- pay 20k deposit & borrow 180 000 from a bank and property appreciate
281k
Equity $101 for 7 years
Average annual return 58%
Professional investor:
3- pay 20k deposit and borrow 180 k from the bank for a 200k property.
Instead of compounding of the equity, you borrow out the appreciation of the asset every 2 years and you invest in a new property at 10% down.
After 7 years the total value of your propreties
2 million 22 K and ur
Net equity 273 K
Average annual return on the 20k inv. 180.9%
Aaaahhh
All assuming no market fluctuations
Don’t leave your money on the table.
Newton’s Law:
For each action an equal opposite reaction.
What goes up must go down.
TRENDS TO WATCH:
1-Demographics
(Check the demography for people in a market, you will foresee the ripple)
1-price of gold
2- Debt
Like the US dollars from gold to silver to iou (money now is debt)
If prices rise Cz your dollars $ becomes worse less and less this is called inflation
When there’s inflation debtors are winners And savers are losers.
3- Interest Rates:
When the government\federal reserves lowers the interest rates
One reaction to falling stock prices & interest rates is a rise of real estate prices.
Lowers interest rates punished savers.
Savers to get out of the bank and invest into the market place.
Bankers do not like savers, bankers love borrowers.
Cz your savings are assets to you and are a liability to your bank.
Bank makes more money by lending you money more than by borrowing money.
4- precession and Lag
When a stone is dropped in hr water not only theres an equal and opposite reaction but there’s also a reaction at
90 degrees, which is the ripple we see moving across the pond
That’s an example of precession!
The delay in time from when the stone hit the water and the ripple hits the far shore is known as Lag!
Both are universal principles/ laws of nature.
The reasons that precession and lag are important is because too many investors watch only the stone’s action and not entire omni-spherical time delayed reaction.
No need to watch the market super closely, you can take longer view of the market.
Ex: trend in population
You can plan ur real investment accordingly, rather than panic when prices rise...
Or buying a piece of raw land and wait till the town grow into it...depends on the growth rate...
5- Financial intelligence:
Keep your ego and arrogance in check.
Remind yourself to be more grateful and humble
Life is a game of time and money
Financial game plan
Your working 25-65
Each 10years quarters
25-35 1st quarter
35-45: 2nd quarter
half time mid life crisis
45-55: 3rd quarter
55-65 4th quarter time
The difference is to learn to enjoy the game.
If you want to take control your money & investing yourself rather turning it to strangers:
- remember that loosing is part of wining and both are part of the game.
- The more you play the better you get, The better you get, the better your team gets, the better your team gets the more you enjoy the game, the more you enjoy the game, the better chances of improving your score.
- The game of money is not really abt money, it’s about how well you play the game.
- One of the reasons why Hard working people loose the game is because they avoid the game
Over time: can’t afford to retire
Out of time: now what?
Respect Father Time!
Some of the cycles and trends a person must pay attention are:
- Windows of opportunity (Time waits for no one)
- Life changes (life does change)
We need more than jobs!
We need more financial education.
A job is only a short term solution to the long term problem of how we survive financially. Especially when we are not working or not be able to work any longer or loose everything and have to start all again.
Our schools only focus on the E and S quadrants, and not on the B and I quadrants.
Do not expect to win every time you throw the dice
Markets move on as time marches on.
Make 2 careers
1 for you
1 for your money
Saying can’t will end there and it’s easier to say I can’t than to say I can. Saying I can’t limit your potential.
The businesses that make life the easiest are the businesses that make the most money (auto industry)
Author & Poet Marcel pruced
The only real voyage of discovery consists not in seeking new Landscapes But in having new eyes.
Power investors invest in at least 2 classes of assets. Thank
The 4 major assets classes:
1- business
2-real estates
3- paper assets
4-commodities was
Power investing plan:
1- Start a business
2- invest the cash-flow from the business into real estate
3-invest your excess cash-flow into paper asset.
The 1st business accelerator is OPM
other people’s money.
(In real estate 10k down, 90 from banks...)banker has 90% of the risk, but ou receive their share of the profits, they get nothing but the interest which will be paid by the tenants!!!
Magic money! 1/9 ratio!
The 2nd business accelerator
Entity selection
Which to hold your
Review the various requirements and benefits of a C corporation
S corporation
LLC limited liability company
LP limites partnership
In real estate
Entity selection is so important/critical
Often you need to have separate Entities for each property so if one property is put at risk the others are NOT!
(Choose maybe based on state Laws!)
With your attorney and tax advisor to see which entity will provide the best protection for your business AND RESULT IN THE BEST TAX ADVANTAGES
This maximizing your cash-flow
The 3rd accelerator is OPT
Other people & systems time (doing your work)
Most people work for businesses rather than working for building a business.
The 4th accelerator TAX LAWS
The tax man is on ur side as business owner.
In real estate (check phantom
Cash-flow from depreciation)
The 5th Accelerator CHARITY
the more people you serve the richer you become.
The 11th accelerator OPTIONS (for stocks)
Invest for cash-flow and not for capital gain.
If you invest for Capital gains you invest in hope.
The biggest thief of all is hope.
Gamblers think they are investors.
An investment needs to make sense today And tomorrow!
Invest for :
1-cash-flow (steady stream of cash-flow so thentax advantages won’t be limited
2-tax advantages
3-capital gains (3rd order of priorities)
Be fearful when others are greedy
Be greedy when others are fearful.
You can’t buy what’s popular and do well
I only go to the market to see if someone is about to do something silly.
Warren buffet.
The worse time to invest is when the market is good.
Tales of success bring suckers to the market.
Read financial statement
Understand trends
Have good advisers
To not invest in what’s popular
Find a great investments that others people miss
7 ways to find good in vestments in good or bad market:
1-Remember that people are lemmings (amateurs)
2-become an expert on certain mistakes and you will be rich.
(Opportunities repeat themselves)
3- buy during a recession
4- buy when a unfortunate event or tragedy (but use your conscience)
5-learn slowly and learn forever.
Desire takes places where logic can not.
6-Learn the 20-10-5 cycle as a reminder.
20 years equity year cycle
10 years commodities
5 years disaster
7- pay your brokers and advisors well (or a bit more
Or summary of finding better investments.
1- know ur numbers don’t be a guessing number
2- know the mistakes that lemmings do
3- be generous
4- be creative
(Find
Give your money for strangers and your money will work for strangers before you! So be smart find a profession for your money and your money will work hard for you to read it as your employee and find work for your employee and it will take care of you. That is what all investment is all about.
A good investor before investing in Anything!
does 5 things or runs a
Due diligence Checklist
1- EARN/CREATE
Ex. When u buy a property it should create passing and phantom which are the less taxed!
2-MANAGE
Ex.work to reduce your expense, increase your income, choose when you want to pay your taxes, reduce your taxable income.
If they are loses, use those loses to your advantage!
3-LEVERAGE
Real estate is the easiest of all investments to leverage!
80 to 90% is not uncommon!
The tax department offers additional leverage through tax incentives which are numerous!
4-PROTECT
protect your property with different insurances!
Also with Different corporate entities , and with Non recourse financing if you feel the need to be extra cautious.
Add an xtra layer of protection by creating a Sinking fund which accumulate xtra cash for emergencies.
5-EXIST
Rather than selling your property which will trigger a taxable event, often
Exchange your property without paying taxes!
Or u can borrow out the equity tax free and invest your tax free borrowed money with for example a new investment property or a Boat!
Regardless in which class you invest your money,
Treat those assets the same as you would treat your self (with respect).
Read the main books of rich dad then come to this one
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Librado2021
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Great content, lacking on delivery
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An eye opener.
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Best book I’ve listened to!!
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Great Intro and Overview to Think like an Investor
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