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Robert Kiyosaki

Cashflow Quadrant: Rich Dad's Guide to Financial Freedom

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  • Pamela Lemushas quoted8 years ago
    The Difference Between an S Type of Business and a
    B Type of Business
    Those who are true B’s can leave their business for a year or more and return to find their business more profitable and running better than when they left it. In a true S type of business, if the S left for a year or more, chances are there would be no business left to return to.
    So what causes the difference? Saying it simply, an S owns a job; a B owns a system and then hires competent people to operate the system. Or put another way, in many cases, the S is the system. That is why they can’t leave.
  • Godspower amunhas quotedlast year
    after job security. We wanted financial freedom.

    By 1989, we were millionaires. Although financially successful in some people’s eyes, we still hadn’t reached our goal of true financial freedom. That took until 1994. By then, we never had to work again for the rest of our lives. Barring any unforeseen financi
  • Godspower amunhas quotedlast year
    We kept our situation quiet. For the most part, Kim and I looked quite normal on the surface. When friends and family were informed of our plight, the first question was always, “Why don’t you get a job?”
  • Godspower amunhas quotedlast year
    But because job security wasn’t what we were looking for, we kept pushing on, living day to day, on the brink of the financial abyss.

    That year, 1985, was the worst of our lives as well as one of the longest. Anyone who says that money isn’t important obviously has not been without it for long. Kim and I fought and argued often. Fear, uncertainty, and hunger shortens the human emotional fu
  • Godspower amunhas quotedlast year
    We did odd jobs occasionally and earned a few dollars here and there, but we did that only to keep food in our stomachs and gas in the car. Those few extra dollars were only fuel to keep us going toward our singular goal. I must admit that during moments of deep personal doubt, the idea of a safe, secure job with a paycheck was appealing.

    Hello World

  • Renukahas quoted4 years ago
    The IPO
    An initial public offering (IPO),
  • Renukahas quoted4 years ago
    About a month later, we found a piece of land for $115,000 that was even more beautiful. It was 87 acres of tall oak trees with a stream, and it had a house. I offered the seller full price if he would give me my terms, which he did. To make a long story short, we spent a few dollars fixing the house and sold the house and 30 acres for $215,000, using the same idea of “low down payment, easy monthly payments.” We kept 57 acres for ourselves.
    This is what the transaction looked like on my balance sheet:
  • Renukahas quoted4 years ago
    Let’s say I find a house worth $100,000 and I get a heck of a deal and only pay $80,000 for it. I pay a $10,000 down payment and get a $70,000 mortgage I’m responsible for.
    I then advertise that the house is available for sale for its appraised price of $100,000. I use these magic words in the ad: “House for sale. Owner desperate. No bank qualifying. Low down payment. Easy monthly payments.”
    The phone rings like crazy. The house is sold on what is called a “wrap” or a lease-purchase contract. In simple terms, I sell the
  • Renukahas quoted4 years ago
    The Worldly Philosophers by Robert Heilbroner. For people who want to operate on the B and I side, his book is a must-read, fo
  • Renukahas quoted4 years ago
    Trading for a Living by Dr. Alexander Elder. Although it was
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