The following is a list of the main advice provided by Robert Kiyosaki through all his works and other means:
1- Make money work for you
Don't work for money, make money work for you; The way to do this is by creating or acquiring assets that generate cash flow.
Examples of assets that generate cash flow are businesses that one creates or buys, real estate that one rents, paper assets such as stocks or bonds, etc.
2- Invest in financial education
Before investing in assets that generate a flow of money, invest in improving your financial education.
Always keep studying, training, reading books, taking courses, attending seminars, researching on the Internet, etc.
Always try to increase your financial vocabulary and improve your financial intelligence; This will allow you to better identify, analyze and take advantage of opportunities.
3- Be careful with the words
Words have power, you must be careful with the affirmations you make because these could become your reality.
For example, if you say "I can't afford it", you give your mind the order to stop working and, in fact, you will never be able to afford it; But if instead you say "how can I get it," then your mind will get to work, and will strive to find the solution, for example, a way to earn more money.
4- Pay yourself first
Every time you earn income, before paying your debtors, set aside a percentage of that income, and then invest it in assets that generate cash flows.
Have the discipline to pay yourself first, even when your income is low or your debt is high.
This will allow you to invest the money saved in assets that generate cash flows, and the pressure to pay your debts will motivate you to go out and invent ways to earn more money; while improving your financial skills.
5- Motivate yourself to make money
For you to make money you must have passion, you must like what you do, you must have fun, you must love what you do and feel whole.
And one way to achieve this is to motivate yourself by thinking about the reasons why you would like to have a lot of money and get ahead; Your reasons could be, for example, being able to retire young and not having to work a lifetime, not being an employee, being able to travel the world, control your time and your life.
6- It has a good team
Surround yourself and hire the right people, who know more than you in their areas, and who together complement each other and can form a good team.
One must know how to identify the right people, not only by their appearance, but by their words.
You must identify and hire these people, and then know how to work with, direct, lead, and inspire them.
7- Learn to manage risk
Investing is not risky if you first invest in your financial education.
Your financial education will allow you to better detect, analyze and take advantage of investment opportunities.
Learn to take risks, but before investing, be cautious, learn well, assess the situation well, and make sure that the risk is as low as possible.
8- Do not be afraid to make mistakes
Don't be afraid to take risks and make mistakes, because it is in mistakes and failures that one learns the most.
You must know how to win, even when losing.
When you make mistakes or fail, be persistent and keep trying, always keep in mind that making mistakes is part of the process of success, that you cannot succeed without first having failed.
9- Advance to baby steps
Be patient both when you have to choose your investments and when doing your business.
To be successful you have to go slowly with baby steps.
For example, you should take your time to see the proposals and analyze your investments, and not think that the deal you have found is the only one that exists; And you should not think that with this you will be wasting time, because you will be learning about investments and becoming more adept at detecting and analyzing them.
Post: School for the Rich »Taken from:
And ours: Do not put aside your values and principles !!!.
