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The Consumer Economy andRich Dad. Poor Dad.
What The Wealthy Teach Their Kids
About MoneyThat The Poor And Middle Class Dont.
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The Consumer Economy
Continuous growth through continuous consumption.
Most of us define ourselves in terms of:
How much and what we consume.
Our role in the making of what we consume.
Our ability to persuade others to consume.
Its philosophy is spreading throughout the world. Is it truly satisfying?
If your reason for becoming rich is to look rich, you
will never become rich.
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The Consumer Economy
We are a free country, not necessarily a faircountry. We are all free to fail.
Were being taught to be Good Employees.Go to schoolGet good gradesGet a good JOB
Work hardMaintain good creditSo we can consume lots of stuff.
JOB for most means Just Over Broke.
Should we be taught how to become Wealthy?
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Most of the following ideas about money and wealth creation
are From Robert Kiyosaki and his partner and co-author,Sharon Lechter. I highly recommend that study their writings
more deeply on your own.
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Financial Intelligence
It is not your boss job to make you wealthy or
secure.Its her job to give you a paycheck. . .
nothing more.
Making more money will not solve your
problem if money management is your problem.
Money is a drug.
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Financial Intelligence
Money pushes you around. You will obeymoney.Employers/Bosses
LandlordsBill collectorsTax collectorsFamily and friends
Can you push back? Are you smarter than your money? Answer: Do you work for money, ordoes
money work for you?
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Financial Intelligence
When money works for you, every dollar is anemployee.Each dollar works to bring you evenmore dollars while youre asleep.Passive Income: Interest, dividends, real estate
income, royalties, residuals, annuities
Your money can work for you or it mostcertainly will work for someone else.
What do you do? versus What do you own?The key is What investments do you own that will
bring you passive income?
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Financial Intelligence
Being Rich versus Being Wealthy Being Rich is about how much money you possess in a
specific moment in time. Being Wealthy is about . . .
how much money you keep
how hard it works for you how much is left for future generations (who know what to do
with it) Being Wealthy is about exploding yourPassive Income.
(How long you can survive without ever having to go towork?)
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Financial IntelligenceRich Dad. Poor Dads Basic Philosophy
Know the difference between an ASSET and a
LIABILITY, and only buy assets.A True Asset gives a positive cash flow each andevery month.
Live below your means, while constantly
increasing your means. Make your PASSIVE INCOME cover your
Lifestyle Expenses forever.
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Financial Literacy
Sadly, most of us have been taught to read
words and books, but not numbers andfinancial statements.
Two keypersonal andbusiness financialstatements we all must be able to read.The Income Statement shows the amount of
money coming in and going out.
The Balance Sheet shows the balance of whatyou own and what you owe.
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Income
Statement
Balance
Sheet
Income
Expenses (Payments)
Assets (Own) Liabilities (Debts)
Financial Literacy (continued)
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Income
Statement
Balance
Sheet
Income
Expenses (Payments)
Assets (Own) Liabilities (Debts)
Paycheck, dividends, interest,
rents, royalties, profits, advances
Financial Literacy (continued)
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Income
Statement
Balance
Sheet
Income
Expenses (Payments)
Assets (Own) Liabilities (Debts)
Taxes, mortgage/rent, cards,
car, food, fun, rent, clothes,
child care, insurance,
medical
Paycheck, dividends, interest,
rents, royalties, profits, advances
Financial Literacy (continued)
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IncomeStatement
Balance
Sheet
Income
Expenses (Payments)
Assets (Own) Liabilities (Debts)
Taxes, mortgage/rent, cards,
car, food, fun, rent, clothes,
child care, insurance,
medical
Paycheck, dividends, interest,
rents, royalties, profits, advances
Mortgage, carloan, credit cards,school loans
Financial Literacy (continued)
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IncomeStatement
Balance
Sheet
Income
Expenses (Payments)
Assets (Own) Liabilities (Debt)
Taxes, mortgage/rent, cards,
car, food, fun, rent, clothes,
child care, insurance,
medical
Paycheck, dividends, interest,
rents, royalties, profits, advances
Mortgage, carloan, credit cards,school loans
Stocks, bonds, notes,
real estate, business,
intellectual property
Financial Literacy (continued)
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IncomeStatement
BalanceSheet
Income
Expenses
Assets = Zero Liabilities = Zero
How The Poor LiveThey only have small incomes and small expenses
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IncomeStatement
Balance
Sheet
Income
Expenses
Assets = Zero Liabilities = Zero
How The Poor LiveThey only have small incomes and small expenses
$The
Wealthy
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IncomeStatement
Balance
Sheet
Income
Expenses
Assets
Liabilities
How The Middle Class LiveThey buy expenses and liabilities they think are assets
Assets
h ddl Cl
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IncomeStatement
Balance
Sheet
Income
Expenses
Assets
Liabilities
How The Middle Class LiveThey buy expenses and liabilities they think are assets
Assets
$The
Wealthy
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IncomeStatement
Balance
Sheet
Income
Expenses
Assets
How The Wealthy LiveThey take the income of the poor and middle
class, and buy assets that produce more income
Liabilities
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h d
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Rich Dads
Cash Flow Quadrant(modified)
Note: Kiyosaki calls the D
Quadrant the Big Business
Owner Quadrant.
R h D d
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Rich Dads
Cash Flow Quadrant(modified)
W o r k
s w
i t h
B o
d y
.
L o v
e s t o
D o
. W
orkswithMind.
Lovesto
Deal.
R h D d
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Rich Dads
Cash Flow Quadrant(modified)
You have ajob.Someone else is the boss.
Security before money.
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Exempt vs Non-Exempt Jobs
Management/Exempt
Considered a professional At least 50% of timeusing intellect, directing,creativity
Has discretion with
decisions Sets own work schedule
Receives a salary
No overtime pay
Non-Exempt
Considered non-professional Up to 100% doing routine,
non-thinking tasks
Does only what is told to do
Has a pre-set schedule Punches a time clock
Paid hourly
Receives overtime pay
Ri h D d
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Rich Dads
Cash Flow Quadrant(modified)
You have a job.Someone else is the boss.
Security before money.
You own ajob. Loner/boss.
Perfectionists. Small bus.
owners: Drs. Restaurateurs.
Independence before money.
Ri h D d
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Rich Dads
Cash Flow Quadrant(modified)
You have a job.Someone else is the boss.
Security before money.
You own a job. Loner/boss.
Perfectionists. Small bus.
owners: Drs. Restaurateurs.Independence before money.
You own a system that others operate.Coordinator. Delegator. Franchiser.
Use other people's time and money.
Ri h D d
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Rich Dads
Cash Flow Quadrant(modified)
You have a job.Someone else is the boss.
Security before money.
You own a job. Loner/boss.
Perfectionists. Small bus.
Owners: Drs., restaurateurs.
Independence before money.
You own a system that others operate.Coordinator. Delegator. Franchiser.
Use other people's time and money.
Your money works for you.
Make money with money.
Others liabilities are your assets.
Ri h D d
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Rich Dads
Cash Flow Quadrant(modified)
W o r k
s w
i t h
B o
d y
.
L o
v e s
t o D
o .
W
orkswithMind.
L
ovestoD
eal.
Rich Dads
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Rich Dad sCash Flow Quadrant(modified)
Job Security
Financial Security
Financial Freedom
Ultimate FinancialFreedom
Wealth
Side
Rat
Race
Side
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Sample Paths To Financial Freedom
Wealth
Side
Rat
Race
Side
Start
EndorStart
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Sample Paths To Financial Freedom
Wealth
Side
Rat
Race
Side
Start
End
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Sample Paths To Financial Freedom
Wealth
Side
Rat
Race
Side
Start
End
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In Which Quadrant Are You Headed?
What are your financial goals?
Which would you choose?
Job security
Financial security
Financial freedom
Systems and Discipline Are The Key
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Systems and Discipline Are The KeyFor All Quadrants
Am I hauling buckets or building a pipeline?
Can you make a better hamburger than McDonalds?
Can you build a better system for making hamburgersthan McDonalds?
There are tons of great ideas, but few great systems.
You must also have the disciplineto diligently work
the system.
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Some Final Thoughts
RiskIts risky not to build a business or not to invest.9 out of 10 business fail; so I need to fail 9 times.
MoneyThere are two problems associated with money: You
can have too little or too much.Money comes from inside out, not the outside in.
So, money is an idea, not a thing. Thus, your ideascan create money out of nothing.You create money in your spare time. Creating ideas
and searching for bargain assets.Its not how much money you make; its about how
much you keep.
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Some Final Thoughts (continued)
Emotional IntelligencePractice delayed gratification.
Buy assets first, luxuries last.Ask how can I afford it? This stimulates yourcreativity.
Some Books and Stuff by Robert Kiyosaki
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Some Books and Stuff by Robert Kiyosakiand Sharon Lechter
Rich Dad. Poor Dad.
Cashflow Quadrant
Cashflow Game
Cashflow, The E-Game
Rich Dads Guide to Investing
Retire Young. Retire Rich. Rich Kid. Smart Kid.
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