HOW TO CONVERT A LIABILITY INTO AN ASSET - ROBERT KIYOSAKI, Rich Dad Poor Dad
Assets and liabilities serve as the central focus of this episode of Millennial Money featuring Robert Kiyosaki. Robert dismantles a pervasive misconception-that your house is an asset. This idea is debunked to underscore the importance of understanding the true nature of assets and liabilities in one's financial journey.
Robert goes on to propose that people themselves can be assets or liabilities. The discussion extends to the financial responsibilities associated with caring for family members. This aspect brings forth the idea that while family can be a source of emotional support, they can also be financial obligations.
Examples of human liabilities, with a focus on financial commitments such as alimony and child support. This serves as a stark reminder of the financial responsibilities that individuals may have to shoulder in various life situations.
This episode not only clarifies the distinction between assets and liabilities but also underscores the importance of financial literacy, cash flow management, and the multifaceted nature of financial responsibilities in the context of family and personal finance.
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I changed my life when my cousin told me about Robert. (April 21, 2017). Worked at a manufacturing warehouse for 6 years, climbed the corporate ladder, making 70K a year, broke a** h**, mentally stressed every day, hated my job and the list goes on. This year I quit my job, got a new high paying job (120k), am currently investing in financial, investing and real estate education. Have full control of my financials and living a better life then ever. No longer live paycheck the paycheck. Although my income is earned income "JOB", I now have financial control! I have listened to all of your books. Going to listen to them all over again and apply them every day going forward. One step at a time. Robert, you have changed my life! You are my rich dad! Thanks for sharing your stories!
Eric Chavez can you teach me how to do this
@@Mrramennoodle2 I'll do it all for you for free. You just sit back and relax
Well done! Now live well under your means, watch your expenses ruthlessly, and put the extra cash into assets. You’ll be on your way!
U r a Liar. a Paid Liar
KC keywords he said were real estate, investing and financial education. Whats his 120k income? He’s probably a real estate investor
The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks and get taxed again once you sell. Want to invest over 300k on the stock market, how do I achieve this?
If you're not who understands strategies to invest, just invest through an advisor, making good profits, avoiding taxes.
Having an investment adv-iser is the best way to go about the stock market right now, I've been in touch with a coach for awhile now mostly and I made over $800K within a year
This is probably what I should do. Who is your advisor, please?
Pamela Kay Regel deserves credit as one of the finest portfolio managers in the industry. Her reputation precedes her, and I highly recommend looking her up to locate her online if you are internet-savvy
Thank you for sharing, I must say, Pamela appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
Fortunately, I had a college economics teacher that taught me a lesson at 18. That lesson was: for every huge, frivoluos purchase you make, you need to have an investment double it's worth, this doesn't necessarily mean you should always invest when you make a purchase, it simply means living within your means. Varied sources of income is wise and especially like i said, living within your means. Whenever you're about to make a huge, dumb purchase that doesn't add value think about taxes and how you get your income. I made $272k combined net last year and paid no Federal taxes.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable trades can only be carried out by real-time experts.
@@donaldlocher2537 Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
@serenewhopperman2924 Sure, the Investment advisor that guides me is “James Fletcher Brennan” and he's renowned and has quite a following. So it shouldn't be a hassle finding him. Just look him up.
@@donaldlocher2537 There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts...
@@donaldlocher2537 he really seems to know his stuff. I found his website, read through his resume, educational background, qualifications and it was really impressive. he is a fiduciary who will act in my best interest. So, I booked a session with him
Just what I needed to watch. My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@robertosaviano215 Please can you leave the info of your investment advisor here? I’m in dire need for one.
@@elliot985 You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Isabel Cecilia Ramsey is my FA. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@robertosaviano215 I just looked up Isabel online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
Thank you very much! you are the best robert! im 28 years old income 25k gross a year,living in brooklyn,i have 14 years paying rent and working minimum wage,because i did not know what i wanted,i did not had a mentor,i bought your book,the first book i have read,and now i bought your books and james rockards books,also think and grow rich,the warran buffet way book,you opened my eyes robert,now im looking for a better job,breking my mind to do my own business,is just fantastic what you have taught me,i still can't believe how i feel,thank you!
eljuancho2 welcome brother
eljuancho2 I can help you create a monthly income . Contact me . Let's work together for a better life for you
GmC CAMBRY how we get in contact? My email is reggeajuan@yahoo.com
There's a guy named John Shin who made a movie based on the book Think & Grow Rich!!!! Watch it if you get the chance =)
bbb888 is it any good to watch??
He: Your child is your liability. Me: *Sells my kid*
WTF
Rent him out
Stonks
@@hdndhjdhdh1404 no one would take him bro
Turns to an asset, sell for a subscription fee
Greatest business mentor ever to me he is soo underrated get it going grandpa👌👌
I have $800k in a high yield savings account, yes I’m making gains but to what extent with inflation eating away at the dollar? Am I better off investing in the stock market or buying a house?
The choice between real estate and stocks depends on your time horizon and risk tolerance. Stocks offer dividends and long-term growth, while a house provide fixed assets returns. Consulting a fiduciary advisor is wise for a tailored financial plan. from personal experience, my portfolio has grown to $1.3M, a 25% increase from last year, with robust diversification and inflation hedging
great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
Heather Ann Christensen is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
You mentioned our fico score isn't as important. Is there 5he4e a way to get a loan without a job and low fico score? I have a business that I'm building. I just don't have enough in my business to cover 3xpenses yet.
Gold never depreciates , it’s better to buy something that is always a need in terms of an asset in areas where it’s most needed.
The people who came and watched this ARE NOT AVERAGE PEOPLE, They’re gaining assets by watching this.
I love your thought
Phú Nguyễn thank you
Positive thought
absolutely
Awesome thought
Success is dependent on the actions or steps you take to achieve it. Show me a man who doesn't have an investment, and i will tell you how soon he will go broke. Investment is building a safe heaven for the future. With the right choice of Investment that has at least 1% minimum risk and with an expert guidance, profit and Intrest is 100% guaranteed.
K well it's different for everyone. Success means different things to different people. We are all mortal and anything can happen. No one cares in the end of your success or will be by your side on your death bed saying ''wow look at what he accomplished'' most will be focused on what made them happy during their lifetime.
@@--M--1111 you must be broke😂😂😂 The lady was simply dropping some jewels on people who want to be financially successful. There was no need for your comment. And believe me, when we die it will be vital to leave an inheritance to our family, instead of being selfish and only thinking of our own happiness. Why did you click on this video anyway if you’re not talking about financial stability. Take those “making people feel happy” comments to a dr. Phil video.😂😂
Aight bro
@@--M--1111 you are absolutely right. We can't set a parameter of happiness applicable for all. For most of them yes its applicable for not for all . Because you may have understood the money but not your life. I will give an example. I do daily meditation and Yoga and my life's aim to seek enlightenment eventually and i am persuing it with all my focus and intensity. And i have a job in a Software company. I have two kids. So I have created a plan. I am saving some money for my kids. Once they are self dependent i will leave for heigher practice and submit myself towards it. I will have no money but an internal peace. Probably this is what I was seeking my life. People do not understand a bit about how this Cosmos and life works. We are in a cycle of birth death and rebirth. And we are repeating ourselves. Enlightenment is a way to break this cycle and merging to the consciousness.
@@donovanbrown7993 you're so stupid and a shame on humanity, he's saying his/her opinion, and not cause he/she is here in this video means that they agree with it, he might be doing a research on how to make money, but he was talking about being happy, and yes when your ass go to grave, with no family, no kids then yeah! What did you accomplish! And the point is be happy, it has nothing to do with being rich or not! The comment we're all in is actually shit, saying show me a man with no investment! So stupid, too many people have nothing and can't afford anything regardless of what this video say, he was able to take a loan and buy a condo, some people can't even take a loan! So give yourself a kick in the ass and gtfo
I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months
While there’s more pain to come, investors should look for stocks like Royal Philips NV and Alstom SA that have been beaten down enough that they’re a bargain or get a good portflio manager
I agree, I've been in constant touch with a Investment advisor for approximately 17 months. These days, it's really easy to buy into trending stocks, but the task is determining when to sell or hold. That's where my advisor comes in, to help me with entry and exit points , I've accrued over $337k from an initially stagnant reserve of $148K all within 18 months
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
@@rebeccaartgallary My consultant is Deanna Lynn Renfro, She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven’t regretted doing so
This recommendation literally came at the right time, I dipped by $16k in stocks last week alone. Its crazy! I just looked up Deanna online and researched her accreditation. She seem very proficient & I wrote her detailing my Fin-market goals.
Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks at a discount since the beginning of the year and yet the cycle continues with more losses, I know the idea is to hold long term but God I could really give anything to see some growth happen to my portfolio.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a coach for almost a year now, I started out with less than $120K and I'm just $19,000 short of half a million in profit.
@Dan Brooks Big Credits to 'Christine Jane Mcleanshe has a web presence, so you can simply search for, there are some others but it might be difficult to get them, but Christine as been a good guide through the year.
I recommend doing call options. But do your research first
that's why the main key to investing is "knowing what you buying"
My favorite part in Rich Dad poor dad was when Rob wanted to buy a Porsche and Kim told him to buy a rental property to pay for the Porsche. The point is that you keep the House AND the Porsche. If you straight up buy the Porsche, you don't get the house. A friend of mine recently received an inheritance from her mother, a house that is completely paid off in Arizona worth around $300k. She sold the house and bought a car. What did she do wrong? She could have kept both the house AND the car had she just rented out the house. Now she lost the house and only has the car and she's still broke.
Not only still broke she is still stupid my guess.
Well illustrated !
Wow what a fool
I always appreciate someone bringing a different angle in their explanations of Robert's principles. Yours are good ones.
This 14 minutes video has taught me the biggest life lesson that almost 15 years of education hasn't taught.
Went to a classroom for fiance and business and all it thought me that school is bullshit and makes you a money slave " make money work and spend your money wisely" not how to invest real estate
And by the time I'm 65 am broke
@@Yesux fiance and business? Not a good mix I'd wager.
Fact
Whats that? Never wipe back to front?
Thank Robert, Im currently reading your book rich dad poor dad, and I really appreciate what I’m learning, I just wished I learned this much earlier on in my teens at least, I’m currently 34, married and currently unemployed because of a layoff … I’m currently watching all your videos and working on to buy all your books… I don’t want to work for anyone but instead work for my family instead, God willing I can meet you someday… thank you again Master Robert
Financial Literacy just made simpler. The backbone of getting rich is maintaining cash flow. Thank you Sir.
A house is a liability when you living in it, and a house is an asset when you are using it to make money like renting it out for cash flow in - Thank you Mr Robert for sharing this important knowledge
Then where are you living, I mean where we live is either rented or owned.
@@b.s.r.i.n.i.v.a.s😂😂😂😂 true
I'm going to break this down real quick and I hope it helps. At 6:23 He clearly gives an example at the age of 25 how he turned a Liabilty into an Asset, so to speak. He used a credit card (LIABILITY) to purchase an apartment (ASSET) and cash flowed at $25 (PASSIVE INCOME). Cash flow=cash earned after paying all expenses. I see multiple benifits out of this scenario. 1) Leveraged his personal credit to obtain debt, a credit card, which means he used other people's money and didnt have to tie up his own cash. Additionally, credit cards are much easier and quicker to obtain versus acquiring a mortgage. 2) Utilization of someone elses money, Credit Card (LIABILITY), to purchase an INCOME DRIVEN ASSET which covered all operating expenses for the apartment, including repayment of the credit card, once the rent was paid by the renter, and left him with $25 that he did not have to get up and actively work for. 3) His FICO score had to go up for paying back on the card, thus opening the door to more opportunity to acquire larger lines in the future. 5) The Apartment (ASSET) acquisition immediately increased his networth (WEALTH) at the same time. 4) Holding of the ASSET long enough, or buying right coming in the gate will allow cash (EQUITY) to be pulled out of the asset either immediately or when it appreciates. 5) Sell the asset when its crazy over valued like in 2008 and now in 2019 and walk away with a HUGE PROFIT, 1031 exchange it and increase your passive income and wealth without paying tax on the gain all while using a credit card 💳 (LIABILITY/DEBT). Rinse and Repeat over time to build a massive rental asset portfolio. Then come back to look at this video and shake your head at all of the people who didn't take advantage of all this opportunist information. Most people will apply for a credit card and use that liability to cover another liabilty. It's all a mindset 🧠. Choose what side of the fence you want to be on simple as that. ✌🏼
Thank you so much for the details...!!
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
@@AlexanderTurke Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
@@RebeccaBellick The adviser I'm in touch with is 'HEATHER ANN CHRISTENSEN, he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works therefore my result. he provides entry and exit point for the securities I focus on.
This is the best video of this guy that is comprehensive and good to watch, not to talk about the melodramatic videos he presently appears in.
Watching videos after videos and not taking steps is a liability
wow, I really hate myself for that
🔥🔥🔥🔥🔥🤣🤣🤣🤣🤣🤣
@@williamou3005 invest in yourself, that's an investment aswell
@@countryballs2005 preach, that's what im doing right now
That's a great line! By the way check out his Rich Dad Poor Dad summary version here to help you understand it kzhead.info/sun/qcuOqsmth5yYnK8/bejne.html
Your children might be your liabilty at first, but when you grow old, they become your assets and you become their liability.
that's nothing to be proud of, it's shameful
people shouldn't be assets, you're a user
You can tell yourself that, and maybe it will be true for you, years from now, but I think the implication of this video is that the safer bet is to rent out your children today, so that they become an asset in your life.
people need to get off the edge of their seats and realize this is a joke with a dark humor.
That's what I call *Long-Time Investing*
30yr old here...going to buy my second house to rent it out this year..im on my way to multi income cash flow
Mexi Short considering i wrote that post a month ago im still learning and educating myself... do you have any positive worth while advice for me? Or did you just want to be a smart ass?
bishop198666 I'm doing the same thing bro, keep buying house and if you can (A pompstation). Learn Forex trading. Do network marketing. Invest in real estate.
Hey you should watch Grant Cardone youtube re buying real estate he is amazing. I highly recommend :)
good job friend!
👌🏽
In his book Rich Dad Poor Dad. He wrote about his rich Dad that " I m rich because I've you, kids... Poor dad said I m poor because I've you. kids. So it's about your mentality how you see your kids assets or liability. Now I like his rich dad personality but here I disagree with Robert on having a family as liability. Money is good thing but it's not everything. There is a lot of things money can't buy and you all already knew it.
adarshfareed khan agree
money is everything in capitalism sociaty . Look at the homeless people they dont have family,they dont have wife ,husband,kids and nobody want to marry with them.But lets say if they get 1 million dollars right now. guess what?many people man or woman will want to marry with them,especially people who have finacial struggle or poor people.money can buy everything even a family .we dont say family is liability because of humanity not because of fact. but when your parents get older and kids grow up that spend much money that definitely is liability .its a fact.
Money isn’t everything yes, but that had nothing to do with his point. He was simply stating what makes money to go out of your pocket versus what makes cash flow in, that’s it.
It is everything . Money control your mentality -mentality control your mind -mind control your steps -steps adn decision control your life. So if y use mathematic standard if a+b=c and c=d + f The equation is a+b=d+f A for steps b for iq = c for money . Money for=life+mentality Than learn to make money also make you to learn about your self. Money is mentality control.
if you don't invest into your kids they become a liability or even worse burn down your house or kill you
The best educator Robert. I am really inspired. Thank you
To young investors, if you want to have more income you need to spend less of it and invest more of it. I'd say most of these "get rich quick" people actually want to spend more money and save less...
I am new to this investment of a thing. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed on all the stock opportunities so far for the tech stocks.I believe having 125K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and loosing all the good opportunities.
@Robert Cooper i've been quite on my research but most suggestions was to get a coach ,do you think that's a good idea ?
@Robert Cooper that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
@Robert Cooper I just looked her up on the web and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled an appointment
You can only get in contact with her through her website recommended online in web search not on whatApp
“A criminals best asset is his lie-ability.”
HAHAA! -goose from family guy
😂😂😂
Poor guy,😣
Damn thats gold doggie
Mike M. More I was thinking more along the lines of palladium...
"I am with my best friend's daughter" I have seen that movie before
I've seen that movie too lol 😂😂😂
I love her nod at the beginning. Makes it even more sexual
Not his liability. Smart
Which movie? I need to watch
@@jdengsky How old are you lol
After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing interest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio.
Centre around two key targets. In the first place, remain safeguarded by realising when to offer stocks to cut misfortunes and catch benefits. Second, get ready to benefit when the market turns around. I suggest you look for the direction a representative or monetary consultant.
@@yolanderiche7476 In-fact, ever since coronavirus I've been in regular conversation with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
@@edelineguillet2121 Can you leave in details about your investment advisor here? I’m in dire need for one.
@@valeriepierre9778 She is "Stacey Lee Decker", my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@@edelineguillet2121 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Heard someone say the best season for a financial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $750k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?
It's far too easy for investors to lose perspective whenever something big goes wrong, the markets recovered from corona virus, 2008 crisis, the dotcom crash, even the Great Depression. So they'll probably get through whatever comes next as well.
As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.
I started investing in 2020 during the covid pandemic and that same year I pulled a profit of about[$170,000] with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisor, so you don't necessarily need to be a perfect investor, just have a professional assist you
@@lawerencemiller9720 How can one find a resourceful FA, I buy the idea of employing their services, its a shame market crashes as of late have become a sort of habit for stocks
@@stephaniestella213 My advisor is 'Eileen Ruth Sparks'' In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience.
Life is a game, cash flow is the name 😄
😂😂😂
So life is cash flow
Nice
Since I started investing it has been smooth and no complain. But I still see people complaining that they have been scammed in one way or the other. I wonder why, Investing in binary trading has been so profitable to me. So I think I should introduce my Manager Mr martins l to you if you're interested. He has being a honest manager all through and I am still investing with him till today. Invest with the right manager and there will be no more scam, i promise you that. You can contact him on this (mratinswilliam@gmail.com) you can earn up to $8000 in daily from home through investment in forex and Binary option trade
Money isn't value, it's a promisary note, a representation of value (it says it on the back lol ). Real value comes from a scarcity of resources b... Supply n da land... Lol water toooo now ✅😊🙏
Hello Robert, I have just started following you and hope I could learn most of what you are providing. Don't know how this knowledge will fit the Indian market and liabilities. But definitely, I would be following you to expand my IT business. So I have learned from this video ---dividing whatever I have into 6 parts and they are: income, expenses, assets, liabilities and CASH FLOW. Thanks for this knowledge.
Anshul Jain hi girl, I want to learn in yr hand about the business.pls
You're a phony person set up by Kiyosaki, that's all you are.
Mr Robert, thank you. For what you do, you are literally doing the most. Thank you for the warm welcome to the rich dad community.❤
The rich stays rich by spending like the poor and investing without stopping then the poor stays poor by spending like the rich yet not investing like the rich
When it comes to the world of investing, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance
wow I am just shocked someone mentioned expert Mrs Maureen I thought I'm the only one trading with her
when you invest with genius woman like Mrs Maureen you don't have any other choice then to keep winning, her Trading strategies are very productive and reliable. I made quite a huge profit last week all thanks to her
yes I'm also a living testimony of expert Mrs Maureen Mrs Maureen has changed my financial status for the best. All thanks to my aunty who introduced her to me
will forever be indebted to you😇 you have changed my whole life i will continue to preach about your name for the world to her you have saved me from a huge financial debt with just little investment thanks so much Mrs Maureen
if only i read your 'The Rich Dad Poor Dad' book 10 years ago I would have not been in this rat race now..better late than never , i learned so much from you, hope I can get out of the rat race soon, u r doing a great job, thanks
Murlikrishna Chippa I can help you out of the rat race. Contact me
Murlikrishna Chippa let’s connect my instagram is Tazmin.khan
Hello a little help here.....don’t like the rat race at all
Allen Trost what do you do for a living? Please advise
Tazmin Khan what do you do for a living? Please advise
I'm holding my stock and no "breaking news" FUD will get me to sell. We are an army and all have diamond hands. I'm sick of the market manipulation by the hedge funds and whales. It's past due time to teach those greedy b's a lesson.
Most people seek instant gratification, which usually doesn't go well. so set goals 1-2 years out instead months out, and you are likely to be much more satisfied with the results.
@@AstaKristjan I always FUD at every little dip until a friend at fidelity investments recommended coach KATHLEEN YANELLI CAROLE who managed my bag very well to over 15%.
@@Erinmills98 This is really impressive, who is this person and how can they be reached?
@@LarsBergstrom-uh2eu Just go check her on the web, there really nothing much for me to say here.
a great man i should say, you gave a summary of life in 10 minutes with all the pumps in it
now in the twilight of my years, I experience increasing cash outflow because of only measly social pensions with increasing food, utility and medical expenses. early in life, I set and controlled my monthly expenses, rewarding myself minimally for additional income from working hard in my solo staff biz. And invested the surplus mostly in government bonds. I do not believe in life insurance, I tried in stock markets only to lose as a casual retail investor. I could have been better off by acquiring real estate but financial constraints of low cash position stopped me. I am in many ways like what Mr. K is saying in this video. I THANK MR. K FOR HIS VERY TRUTHFUL AND INFORMATIVE VIDEO.
Such a Gem of a video. I think one thing Robert didn’t make clear is that liability’s are not bad always SO long as you have the cash flow to have them. If you focus on having more assets then liability’s you are off to a great start. Having a kid, taking care of your loved ones is great so long as you have the cash flow to do so. If the house you want to live in is 3 grand Morgage that’s great, so long as you have the assets to provide the cash flow to do it.
Debt doesn't cause a problem untill you have money to pay the next installment - US federal reserve
The way he describes kids cracks me up! lol " two legged liabilities" His perspectives are always intriguing.
Vampires.
Perfect explanation and presentation. I love it all. I am also following your directions. Thanks Rob
Sorry for bumping…..but Are you interested on how to really achieve financial freedom I’m just saying because I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence she helped a lot to grow my reserve notwithstanding inflation, from $275k to approx $850k
Apt and insightful video. Let me add that I moved to a relatively low value housing area because of tax from Farragut, TN, to North Dakota. Reduced my spending and adopted a good dieting. Saved 30% of my income and made a down payment for a house, put a few rooms on rent and the rest of the work was done by my FA. I didn’t achieve it faster because it takes time to perfect, I’ve grown a nest egg of over $450k in almost a year, even as the economy worsens; This can only be achieved by setting goals and of course working with the right FA. A lot may disagree on an FA because of their charges but I always say the work of an FA is so underrated and it’s more than just making sure you make profit. As long as you get your profits based on agreements, an experienced FA who’s been in the market for years will not care about Milking you. Considering how the global economic market has slowed, FAs do a hard-high tasked job to protect and offer financial benefits that a regular investor will not know of. For a year and the half now, I’ve invested with a financial company that invests on pharmaceuticals and cannabis stocks to cover up for the slowed growth of their bonds (pharmaceuticals and cannabis), crypto (yes, crypto!) and sp500 investments.
With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits.
You’re right! The current market might give opportunities to maximize profi.t, but in order to execute such effective transactions, you must be a skilled practitioner.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then.
credits to LEILA SIMOES PINTO, one of the best portfolio manager;s out there. she;s well known, you should look her up
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I'm going to tell my wife tonight that we are going to rent the house and the hole family live under the bridge. I like the cash flow idea.
you can come rent my place, no need to stay under the bridge...
Good plan. Me like
LMAAOO
Maybe cause I watch too much areested development, but is your last name Hole? Either way i laughed too hard if it wasnt lol
Atta boy Andrew
*Considering the economic downfall and the rise in poverty across the globe. I ask; What’s the best way to achieve financial freedom?*
If I could ask; who’s your financial Adviser and how do I gain more info?
It's hard to trust someone with money or get a financial advisor who can help you plan, invest, and manage your investments for the best results. Working with Donald Nathan Scott, I realized that good people do exist.
Learning and investment financial markets
Invest
To know the difference between Asset and liability ❤
I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADING...I THOUGHT TRADING ON DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET... CAN ANYONE HELP ME OUT OR AT LEAST ADVICE ME ON WHAT TO DO?
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I will advice you should stop trading on your own if you keep losing
And start trading with Mrs Cassandra Roberts trading services
She is a crypto prodigy and has handled my trade for over 6 months now
@@Calvin_anderson Wow I'm just shock you mentioned and recommended Expert Mrs Cassandra Roberts I thought I'm the only trading with her
I have to say I agree with most of what I read in "Rich Dad Poor Dad". BUT I used to rent an apartment for 1,000 dollars a month, and when I got the money to buy an apartment I did. This saved me 700 dollars a month, which meant I could place that into stocks. Furthermore, it appreciated in value (quite a lot), which further meant, that I could get better loans and put that money into stocks. Now stocks won't always appreciate in value as seen in the last 6 months, but in the long run it still meant that I could continuously put money into stocks whether or not in increased or decreased in value, which I believe is more important as time beats timing. I get that I still "lose" money for my living costs, but I couldn't save that money unless I lived in the streets, which I don't believe is the right way to save or become financially stable/independent. I think buying a house is a good idea AS LONG as you're saving money compared to your current situation. I believe there is a middle ground where you have a stable job providing you money while not increasing your expenses is the way to go until you have enough saved up to just live on your investments, which I don't believe "Rich Dad Poor Dad" has enough emphasis on. Money saved isn't equal to money earned unless you invest the money saved. Just a few thoughts as not everyone can start buying assets as soon as they turn 18.
You are truly a generous man. Nobody teaches financial education. You are doing great work.
Thank you for putting together this intelligent and easy to understand series. Many blessings to you for this kindness!
TLDR: The key idea of the video is that understanding and managing cash flow, as well as recognizing the difference between assets and liabilities, is crucial for financial success. 1. 00:00 🏠 A house is not always an asset, but can be converted into one depending on how it is used, according to Robert Kiyosaki in his discussion on financial education and literacy. 1.1 Robert Kiyosaki discusses the misconception that a house is an asset and explains that it can be converted into an asset depending on how it is utilized. 1.2 Financial education and literacy start with understanding the six basic words: income, expense, asset, liability, FICO score, and borrowing money. 2. 02:04 💰 The secret to being rich is not a college education, but the ability to control cash flow by managing income, expenses, assets, and liabilities. 3. 03:13 💰 Your personal residence is not an asset because it takes money from your pocket, while an investment property that generates cash flow is considered an asset. 4. 04:56 💰 Focus on cash flow when making financial decisions, as assets put money into your pocket while liabilities take money out of your pocket. 4.1 Financial intelligence is the ability to control cash flow, and buying a car is a liability unless it generates cash flow, as demonstrated by the example of NFL players who go broke because they can't control their cash flow. 4.2 Assets put money into your pocket, liabilities take money out of your pocket, so focus on cash flow when making financial decisions. 5. 07:36 💰 Kids are liabilities as they are expensive and get more expensive every year, and as people get older, family members become liabilities as well due to the high cost of long-term healthcare. 6. 09:01 💡 People often overlook the financial impact of family members, who can become liabilities due to medical expenses and insurance issues, emphasizing the need to view them as both assets and liabilities in financial planning. 6.1 Many people don't realize that their family members can become liabilities, especially as they age, with medical expenses depleting savings and insurance companies canceling coverage, making it important to consider people as both assets and liabilities in terms of financial planning. 6.2 Men who divorced their beautiful wives are now paying a million dollars a year in alimony and child support, which is funding their ex-wives' boyfriends. 7. 11:37 💰 Financial IQ is crucial for managing cash flow and solving problems, like covering expenses and taking care of loved ones who may become liabilities, so it's important to consider the number of liabilities before pursuing personal interests. 7.1 Financial IQ is the ability to control cash flow and solve big problems, such as generating enough cash flow to cover expenses. 7.2 Cash flow is important to take care of loved ones as they become liabilities, and it is necessary to consider the number of liabilities one has before pursuing personal interests. 8. 13:20 💡 Learn and master the concepts of income, expense, asset, liability, and cash flow to gain financial intelligence and control your financial situation.
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
I agree , I assumed I had a hang of the market at first, I gained $50k one year and I was super elated, not until I stumbled upon a portfolio-advisr whose been guiding me since the market's been sham after the pandemic, to my utmost surprise I nettd a whooping $280K during this dip, that made it clear there's more to the market that we avg joes don't know
@Jeremy Walker credits to CASEY ALLEN GRAY, one of the best portfolio manager;s out there. she;s well known, you should look her up
Is now a good time to invest in stocks? I know everyone says stocks are cheap, but how long will it take for us to recover?. The fact that others in my field make six figures each piece. Obviously, there are strategies to be used in this market, but these strategies are not available to the average person, so am better off putting my money elsewhere. I am fully aware of the expense of working more to get more money.
The top experts, however, have access to confidential information and data that is not made available to the broader public. Being knowledgeable enough to use them successfully is quite another. Big returns, not changing stochastics, are the key. Rewards and risks must be balanced. To reach your aim, pick the right size and turn your edge as often as necessary.
you simply lack the expertise to capitalize in a down market. Professionals with extensive expertise who must have witnessed the 2008 crisis are the only ones who may profit significantly during turbulent times like this.
@@mattandersen2458 I'm looking for advice on how to rebuild my portfolio and develop more successful methods in light of the steep drops. How can I find this instructor?
@@waynestones I wholeheartedly back financial counsellor Sharon Lee Casey, who holds a US SEC licence. She has been helping me for a long with my portfolio. You may look her up online because she has many reviews.
@@mattandersen2458 Fascinated to know, Her credentials are undoubtedly excellent, Sharon appears to be very knowledgeable. I discovered her online profile and read through her resume, educational background, and qualifications, which were all very impressive. She is a fiduciary, so I scheduled a session with her.
Who reads comments and still listens to the convo? Like this
4:45 - ... bought my first house... apartment, investment property... "I didnt live in it, I rented it out"... If only I had heard, believed and acted upon those words when I bought my first property. OUCH Ouch, well, I just had to learn the hard way ey!! Now I am a Student, Thanks Mr. Kiyosaki!!
Just being curious, although it is not my business, but I have to wonder ... if you bought your first property and then rented it out, which you did not know to do, thus implying you lived in the first property ... I wonder who it was you would have lived with while renting that "asset", meaning, for whom would you have been a liability while collecting from and maintaining your non personally occupied asset?
@@switchjim learn how to read
@@mm-hq4qh can you be more verbose?
Deymon spend hours each day to ensure that something of value is released into the world that has impact on those with an interest and desire to be a part of this platform.
this is fascinating, I'm a business man, I have a good sum of money in my savings account, I want to invest 50%. What's the minimum amount one could start up with?
YES!!!! I never believed in real brokers but Mr Sam changed my mindset.
There are three (3) classes of investors which Mr Sam Deymon manage their investment portfolios, each stages with their different prices and profits as well.
@@phillipjohn2820 As an amateur trader trading under the guidance of pro trader Mr Sam Deymon, who provided me with the knowledge and strategies I required to make profits for the crypto market.
@@haroldroger1624 Sam Deymon made over $12k with my $2k start up capital.
this man changed my life and i'm grateful.i now have a better understanding of liabilities.
Hello Robert and Rich Dad Foundation, I can't thank you enough for the great help you have been offering to people like me (in E and S quadrant currently). I had no idea about investing and was a spendaholic until very recently. But after reading rich dad poor dad, it opened my eyes. Now I am 25; have completed my graduation; working in E quadrant and have an education loan. I aspire to become an Investor and finally be financially free by age of 40. Right now, I am investing in stock market and mutual funds. But I am now in dilemma as to whether pay off my debt completely first rather than focusing on building asset column. Because for that, I need to stop the mutual fund and pay that amount as EMI. Could you please suggest me.
prasanjeet choudhury Play cashflow game for free on his website and you’ll get the answer
Hi ashish verma thanks for your respond. Yes I have been playing the cash flow game quite frequently over last few weeks. Over there I prefer to buy real estate and increase my asset column rather than reducing my debt. But in real life, it will take time to study, understand and then invest in real estate. That's why I was asking that is it a good idea to first finish the debts and then go for asset column or should I keep building the assets (continue buying stocks and mutual funds) and just pay minimum emi on my debt for now. In this way the debt will go for longer and I will end up paying much more.
prasanjeet choudhury I understand what you’re thinking. But you can build other assets than only Real Estate. You can build businesses, invest in stocks, etc. How much time do you think it’ll take to clear debts? If im not wrong most debt takes a lot of time to be cleared. Start thinking out of the box and increasing your income. The problem arises when you say “is it good idea to clear debt first and THEN GO FOR ASSET COLUMN”. Bro, you just limited yourself by saying that I can’t have extra income without a real estate. Generate some extra income in some other way!! Don’t do a job for this extra income. Flip some stuff, do anything!, hustle!! and get the extra monthly cashflow. Save this extra income for a couple months while paying your EMI from your current income. Also, take time (maybe a month or 3 months or 6 months) to find that real estate/business idea/stock investment. Yes bro, you need to struggle and hustle in the start. I work 1 job+my dad’s business+my own business+go to school for masters!! Just for that one dream I have in my mind. So I would suggest pay your EMI. If there is a way to convert your debt into a good debt (google this), do so! If not, keep paying this because unpaid bad DEBT can make you a slave. Make sure you don’t get any extra interest on this debt. Keep it clear. and hustle to generate that extra money also, think out of the box for some idea. Look around you, market, food item, restaurant, anything for that extra income. You got no other option man :) FOCUS ON GENERATING EXTRA CASH for now which can make you good cash reserve, which will then help you to make an asset like a down payment for new Real Estate/new business, etc. How much time it will take to make this cash reserve? depends on your action. If you take action 10times, ... you know where i’m going ;) Good luck man :) You’ve read books, played cashflow, you’re far ahead than a normal average person. You will do fine. Keep learning!
ashish verma thanks buddy.. Thanks for your suggestion.. I will do this..
I suggest you get a job, pay off your debts if they are high interest. Save as much as possible and find something you can invest in that you CONTROL that can make you passive income. You can't control the stock price (unless you are a activist investor). Instead invest into a rental property, or buy a car and have 2 people you know drive it for you 20 hours a day (10 hours each) and generate you some passive $$$. And slowly scale up.
I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts ... Stay Motivated!!!
That is so amazing, I’m trying to get onto the housing ladder at 40. I wish at 55 I will be testifying to similar success...
Credits to ROCHELLE DUNGCA-SCHREIBER, she saw me through the process. You can glance her name up on the internet and verify her yourself. she has years of financial market experience...
Heard many good recommendations about ROCHELLE DUNGCA-SCHREIBER by some YT channels, Seminars and other platforms.
Thanks so much I was able to find her page and I already leave her a message.
The quickest way to make your first millions is to invest directly with an expert that is trustworthy and has made a name and individual billionaires ... You have done great for yourself. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
I know it's more beneficial to invest in safe haven assets because profit levels typically drop during these times, but I've been reading news about people who were still able to make large profits of up to $580k during this crash...... what is the most effective strategy at this time?
Find stocks with market-beating yields and shares that at least keep pace with the market for a long term. For a successful long-term strategy I recommend you seek the guidance a broker or financial advisor.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@ThomasHeintz wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
You can do your research and be on the lookout for one with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Elise Marie Terry is my advisor. She has the Flexibility & Expertise to Meet Your Needs. Verify her yourself
@@ThomasHeintz Thank you for this tip. it was easy to find your investment advisor. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Six words - income, expense, asset, liability and cash flow. Genius analysis of these terms with being honest about liabilities
Too many gold diggers out there, beware, that's a lot of hard earned money wasted for nothing.
gold diggers are not even in the chart of 6 magic words. once you have a gold digger, yourself become an income.
That's Offensive! Do you know how hard it is to dig for Gold!? They're Claim Jumpers...
@@classact9002 Offensive? That's actually shows your ignorance of the reality of society. Gold diggers are having criminal intentions like doing telephone scam or cyber scams as well. They usually like to do is keep abandoned poor and keep stolen rich peoples assets. How can you say offensive? Gold diggers are really dangerous and behaving like a illiterate little girls. Completely uneducated. By the way, are you gold diggers or something?If you're truly are, then you just fuck off and go to hell! 😠😠😠😠😠😠
@K Young Yeah, you're right. Indeed, there are too many female gold diggers out there to keep asking men for money with any different tricks by hanging out with fake manner. If they failed to gold digging, they like to use feminism shit behaviour as an excuses to playing filthy tricks against rich or poor even if you're clever enough to fail gold diggers. Gold diggers don't even go out and find a work and keep doing the bloody awful things to anyone who work serverally hard. It's not just happening in US, Chinese are exactly the same as US where criminals gold diggers are everywhere without even knowing what attitude and behaviour actually is. They like to act hypocritically all the times. For those who are blindly supporting feminism, that means they're ignorant and arrogant.
@@tcycewdaf32 Stop acting silly, gold diggers will demand more and more greedy and misery. They never knew how to contribute to society instead of keep asking men's money. They have abilities to work and why don't they work their own and earn by their own and letting these illiterate imbeciles envade your self esteem as well? In my opinion, I supposed gold diggers shouldn't have appeared in this world and always making things complicated to any hard working dudes. That's not what human being should be!
This video doesn't explain how to turn a liability into an asset. Once you have the liability, then you're stuck with it until you can dispose of it. At best, the video explains that liabilities should be acquired *only* by first acquiring assets to pay for liabilities.
UltimateBargains yes you’re right. I also don’t understand how his rental puts $25 in his pocket.
@@santoyo526 The rental income paid for the operating expenses and debt service, with $25 left over for his net cash flow each month. This was decades ago when rents were much lower compared to now. The point of his example is to run the numbers before committing to the deal to be sure that you will have sufficient net income to tolerate recessionary pressure on income and expenses to avoid defaulting on the debt.
@@UltimateBargains yes, and don't forget, you need tenants that will actually pay their rent and not destroy the property.
@@a.stewart2641 The more risk averse you are, the less income you will receive. Life is all about managing risk, not hiding from it.
BINGO
Being 25 watching this and hearing that you bought ur first property at that age and started to profit from the earning even if we're just a little. Is beyond motivating to me I'm locked in and truly eager to learn more.
I am listening it at 17
@@PrathamSaini-sd1cr same, preparing for 18
@@LorenzAugust Samee, wanna make a groul chat about financials?
@@longlifelearner2005 you mean group chat about finance? Sure I guess? I just started studying corporate finance, and I started with the book and trying to know all the financial terms to be financially literate.
@@longlifelearner2005Interested Aswell, how about a discord group chat?
Robert Kiyosaki is a blessing to many. I achieved success after I practiced the steps below.
Y’all need to Know this. A well-known podcast in the US taught me how the rich don’t teach how to achieve success. They Seek the ideas of Fin. ConsuItants to help grow their finance
To achieve success, a FinanciaI ConsuItant is needed to achieve it. I engage in a Variety of lnvestments with the ideas of my consuItant and have acquired great returns so far. ( the amount is confidentiaI )
For further lnfo about my FinanciaI consuItant, you can look up her full name below
Isabelle Chloe Scott
Opportunity is a scarce commodity. I will partake in this. Luckily I stumble into this.
8:16, I agree with that. My father has 4 children, I have to sacrifice what I want for my siblings. I just can't take everything, don't care to my siblings, try everything I could in life. I hate to be kind, I want to be an evil person. I'm poor, I spend most of my time thinking about how, how,... and I will not get married and have a kid if I'm poor. Even if I have kids, I will make sure to only have one. I will make sure my only children can do everything in life, try all the possibilities for his future.
I am 22, and everything that I have is liability Sh**t . Thanks Mentor. It's no later to change. Greeting from Angola 🇦🇴
Have to changed them to Assets?
This is really helpful for my situation!! thanks guys I will try Sam but Do you know how much is ok for a start let me know if I can do this.
Don't get me wrong, I know the economy is in shambles and in order to break even and make profit, we have to ride it out until stock recovery, but how are some folks in the same stock market as me still able to pull off substantial profits of as much as 650K within months, what am I doing wrong?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k
who is the F/A guiding you?
EILEEN RUTH SPARKS is the coach that guides, you probably might've come across her before, she's quite known in her field, look-her up
Derivatives most likely.
I think family is treasure- worth more than assets
When u don't have any money how u feed them man?
Your brain can be either an asset or a liability. Some are limited. Some are mentally disabled. Some are lazy but can have a huge potential.
@@mashudrahman9190 WORK THE SOIL !!!!! western society ...you only want to stay and look at the MONEY ...BUT TODAY OFFCOURSE IT'S A SHAME TO WORK.....IT'S NOT FASHION daaa
Exactly!!! How can one compare money & family!!!
What if you have a fucked up one? Yes, I agree that these people will come to you in your hard time and all that family shit, but what if they are there just for their hidden agendas? What if they are giving you more headache, tension and family drama than your job? And to be clear, I'm living in one of those!
Thank you for all the knowledge and wisdom . So I can get straight to the point I watched a lot of your videos so I can give it to you straight this is my first time I’m just a worker and I’m changing those habit my boss is a doctor with a construction company roofing he has too foreman and six workers so he told me to come up with a business proposition and if you consider that I’ll be able to be partners. I’m going to be a success story I’m going to make billions of dollars so if I fail at least I feel like millions lol
This is a great deal. Am a financial expert though the financial terms are not new to me but I so much appreciate the unique and beautiful ways the points were driven home. A perfect presentation that no one can restrict.
..thankyou for the education..
Thank you so much sir
God bless you ✝️
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?
Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.
Don't depend your market assessments and decisions on hearsay and rumors; I did it in 2020 and ended up with worthless market holdings. Before I started noticing any notable improvements in my portfolio, Helene and I had to completely rebuild it. I've been using the same advisor ever then, and in just two years I've scaled up to $876k. Depending on where you look, a bullish or down market might both produce good profits.
@@joesphcu8975 Thats a good one. I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market. Could this coach that guides you help?
She should. Having a counselor is quite imperative for portfolio diversification. My advisor is ''Helene Claire Johnson''. She is easily looked up and has extensive knowledge of the financial markets.
Found her webpage, I wrote her an email and scheduled a call. Hopefully she responds. Thank you.
Our school system is a joke and a disgrace. This should be taught in every school. This man is a hero for putting these lessons online.
He's like Thanos
You must be ignorant. Money isnt the only passion or game the world is interested in. He might be giving great insights on financial literacy but he is just the same as a priest teaching something that might be a passion of other people (spiritual). Or a professor or educator providing something for the benefit of society. Or maybe somebody passionate about helping sick people. So dont be delusional thinking that the financial game is the highest peak of education everybody should get because it will only create a greedy society.
Why would schools do that? They want you dumb and obedient, so you can work all your life and generate their income.
nope, if such type of financial literacy is taught in the school then the world is gona become even harder than it is today. No one can be rich if everyone is rich, it will just raise the standard of costs. Now people are living their life in the form of a rat race and a new concept of cash flow exploits that. If everyone understands how to utilize cash flow, we will need a new concept to beat it and escape from the norms. So just be glad that u are one of the people that have seen the video, and try to make the most out of it because other people did not have such opportunity .
dont be stupid and destroy such opportunity, make ourselves rich first before such concept cant be utilized anymore.
I know Robert doesn't believe FICO is the net end game, but in the beginning starting off it's crucial to those initial purchases in real estate. Too many try to buy that McMansion now instead of a good starter home they can move to a rental in a few years and then move up to a good living house (not a McMansion) and then add on other good starter homes/apartment homes for others. I wish I knew this 25 years ago. Also another thing not talked about is bad relationships with marriage/whether common-law or official. You can lose half of everything built overnight. I made that mistake twice.
Thanks for the advice , good stuff!
So basically in a perfect world we all own properties and we all rent from eachother :)
Not everyone is gonna want or even think to do this. There are plenty of people set on being renters and employees their entire life.
@@LordHollow so he basically advocates preying on the poor people who don't have the financial skills...it is interesting as a concept to follow when these very same people will start shooting the richer ones on the streets
@@simo7393 I think he is saying that the information on how to do this is available but we all know that not everyone will do it. It's like smoking. Every knows its harmful but some still smoke. They even know it causes cancer before the try it but still, they do it.
One of the Rockefellers is quoted as saying, “Own nothing; Control everything.”
HAHAHA AH A HHA AHAHAHAH AHA HA HAHAHAH OH MAN
The way you enlightened young millennials is very practical. You're one of the interesting people I want to follow. Thank you for the great content!
Robert sir was wrong in 1 thing... kids and relations are not Liabilities - They are Assets... bcoz if u love and take care of them in their need(with true love n affection) they will take care of U when u r in need.....(old age, etc)..😊 I feel this. In India we have that love, family and we live together...(especially very southern part of India) So here family is an asset.... I feel this...
Sorry but he isnt wrong for the majority sir..Also some kids still turn out spoiled and entitled no matter how good u are to them and can't wait to put their parents in a home. Their parents may have not felt negative about them bcuz they brought the kids here into the world but the kids didn't "bring their parents here" so to them it maybe a burden to have to take care of them when its time. Glad for your family being that way in lndia .but that doesn't go for everywhere else. Ijs.
@@deniawiseone95 if you don't want any relations and think them as liabilities. why live in this world? what's the purpose of having any asset? why earn money? what would you guys even do without a loved one! :D in this logic - even a husband/wife can become a liability to each other. Is he suggesting to stay lonely? come on. yes financial literacy is important, but one should be human if born as a human in this world. Failing to be human and failing to love is what is causing all the chaos in this world.
Robert talks about buying property for rentals but that has expenses too,as they get torn up, tenant doesn’t pay & its an expense to remodel,evict, time involved to repair or hire repairs, stress from lazy tenants, etc. …maybe you can show losses but in comparing income to expenses plus headaches,stress, I ask you, is it really worth it? Maybe I’m just not seeing the full picture but I worked for an attorney before retiring & we always dealt with landlords trying to evict for tenant not paying rent…&then even after going through court & winning, you’d have to go back &get a judgment against deadbeat tenants b/c they still wouldn’t pay.
Hi Mr. Kiyosaki! First of all, thank you for teaching us all this priceless lessons and for sharing your lifetime experience. I read almost all of your books and I'm slowly starting to see some results! I just have one question for you if you don't mind : Instead of buying things that depreciate, I enjoy finding rare antique items at a really good price that goes up in value with time... Do you consider rare antique items an assets?
Damn he's jus explaing each and every chapters of ''rich dand poor dad'' in detail
Especially you have to balance between the income expenses and savings/investment. The right way is to sit and write your priorities and cost. Capital expenditure a separate list. Now first take out 10% savings from your take home monthly income. Then the priorities and necessities. That way you know what you both planned and work towards it. While a tailor stitches a shirt for you he takes the measurements and ask your desired way of stitching it with buttons and style. So the cost. Then he will surely tell you if the garment you gave will for only for a half sleeve shirt. On the other hand if you plan for a shirt with full sleeves then to get the need of cloth measure and width. Here you have a choice for expenditure based on the choice and varieties and budget. So it is a mechanic and the machine run it needs time to time tuning and so also your planning for savings/investment. A seed saved to day gives a million later, and it applies to everything.
His advice sounds great. Just try to apply it today. It's not the same. You have to have one hell of a credit card today for the average Joe. Not happening. So someone with little money needs to really know how to move about this game board. Most real estate deals you need 20 to 30 % down. Not 10% . So who's credit card has that amount. Yes some but most no. Most need to have a job , live below your means like Warren Buffett and save for a down and go from there. Maybe use equity if you have a home but then you pay interest on that down payment. The numbers need to be reviewed on everything before a move is made. And the stick market is just fine.
Hello I'm new to bitcoin trade and i have been making huge loses, but recently i see a lot of people earning from it , can someone please give me a new strategy or at least tell me what I'm doing wrong?
Trading on your own is very risky, I've lost alot trading for my self
I lost £1200 carelessly trading on a platform then I was referred to Mrs Robert Nancy she recovered the loss and made an extra profit of £4600..
@@adamsgreat2571 So... I will advice you should stop trading on your own if you keep losing and start trading with Mrs Robert Nancy trading services
Trading crypto with Expert Nancy has being a game changer for me.
@Michael James You don't need to be shock because I'm also a huge beneficiary of expert Mrs Nancy
When you are child your parents see you as liability but still they love you, so when your parents grow old they too are liability but love them back ❤👍
This an has changed my whole way of thinking
If you rent it out, after buying a property, where would you live? and if you rented in a different property and for example the property that you rent out, cost the person $1400 a month and the house you cunrenttly rented in cost like $1200 the cash flow is $200 but you also have to pay back the bank the loan from the property that you bought and the price could be like 1000 per month to pay back the mortage or the money you borrow from the bank, so now there is no cash flow. What should I do?
Life time lesson with in literally minutes. Thanks Robert.
Watson william Stop with that scam
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The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mr Martinez amend.
Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in October 2023
Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
@@joeclinton552You're absolutely right, and that's a beautiful mindset you've got there I never thought of it this way before.
The idea of the whole trade market is something I still can't wrap my head around.
I have broken through 45k, 72k and got my eyes on 120k! Champagne stays popping, he is too awesome.people prefyto spend money on liabilities rather than investing in assets and be very profitable
THANK you so much for sharing this video❤
Thanks for the financial education content, I was watching the KZhead channel Explore your dream life and this video was recommended to me by KZhead I just liked and subscribed to your channel
Thank you Robert for teaching without holding back on what's being said. Definitely things have to be said like they are. Look forward to other educational videos from you. How about some ( real estate)
The 1% Millionaires stay rich by staying off high interest debts and investing passively. Personally i made my first million from having investments that spreads across stocks, etfs, coins and bonds.What i can say to early investors is diversification and solid management..at this point I'm actually grateful for my advisor Deborah Jean Dykstra.. it's been great.
Nicely done. love diversity.
out of curiosity I did read about Deborah Jean Dykstra on the web.,she has a great resume.
i'm happy there are lots of people doing so well...Love this channel for the transparency
@@PhilipMurray251 i found her web too, she's impressive
I admire your teaching method. It underscores the necessity for investors to possess a unique advantage. Conforming to the market norm falls short; we must maintain optimism and await outcomes, given the unpredictable nature of market shifts.
This is the best channel to learn live from the author of the best selling book Rich Dad and Poor dad
Main thing I got from this: " IQ is how bigger a problem can you solve"
When it comes to the world of investing, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance.
Hello, I'm new to Biticon trade and I've been making losses but recently I see a lot of people earning from it. Please can someone tell me what I'm doing wrong
As a beginner who don't understand how Btcoin trade really works and you really want to make profits from it. I will advise you to first start working with a profesional trader
How can someone know a profesional account manager that is trustworthy and legit, they are hard to find this period
I highly recommend Mr Greg T. Martin fx he is my current trader and his strategies are working
he is the best and his strategies works like magic. I've been making over 300% of my investment weekly since I started investing with his trading services.
I get the idea of a house being a liability, however, it would be less of a liability then renting after you pay it off. I wanted them to discuss ways to make money from having a house that you can't do with an apartment, turning the house into more of an asset. For example, if you have a house with a yard, you can garden and save a LOT of money on your grocery bill. If you have a house with a garage, you could set up an ongoing "Garage Sale" shop in there and make money that way, etc. etc. etc.
I have made it here, and even if I'm to late to implicate to my life, I hope to learn to teach my sons. They deserve the opportunities I've missed