Key To Get Rich


Understanding The Concept Of Money Flow To Get Rich.

Key To Get Rich,wagabiz

 

Ever Wonder Why Only A Few People Get Rich Or Super Rich And Most Of The People Suffer Financially For Their Whole Life? Let Me Explain.

 

Let Me Start With An Example With A Guy Named ‘Robert’. Robert Has Two Fathers ( One Of His Own And One Of His Father ). One Is Highly Qualified And Another Has Never Finished His College.

 

Robert Highly Admires Both Of His Dads As They Both Showed Two Different Sides Of Life To Robert. One Told Him That The Money Is The Root Of All The Evils While The Other Told Him Not Money But The Lack Of It Will Be The Root Of Evil. One Told Him Not To Buy The Expensive Things While The Other Told Him To Think Of The Ways, How He Can Buy Those Things. One Told Him To Get A Good Job. Other Told Him To Start A Business. With His Will He Decided To Follow His Second Dad. Which Proved To Be A Good Decision And Robert Soon Became Rich. While His First Dad Suffers His Whole Life Financially.

 

Robert Learnt So Many Things From His Rich Dad, But The Best Thing He Learnt Was The Difference Between The Assets And The Liabilities.
In Simple Words, Assets Are Those Things That Brings Back Money To You While The Liabilities Are The Assets That Causes You Money Periodically. And This Being The Reason For Rich To Become Richer And Poor To Become Poorer. Rich Invest In The Assets While The Poor Buys Liabilities.

 

Money Flow From Different Classes Of People Are As Follow,

     Poor                          Middle Class                        Rich

       ↓                                      ↓                                        ↓

  Expenditure                Expenditure                         Assets

                                          Liabilities

 

Poor Spend Their Whole Income On Their Expenditures Such As Rent, Grocery, Food Etc.
Middle Class Spends Some Part Of Their Income On Expenditure But A Large On Liabilities. They Buy Things Like Cars, Mobiles, Clothes Etc. Which Are Not Necessary But Causes Money From Them.
Rich People Does The Different Things, They Invest Their Income In Creating Assets Like Buying Bonds, Shares Etc. Which Will Bring Money To Them. And This Money Is Used For Paying Of Expenditures And Other Luxuries. This Allows Them To Grow And Keep Getting Rich.

 

Here Are Some Suggestions For Poor And Middle Class To Get Rich.
Poor Class Should Think About Creating Other Sources Of Income. Not Much But Just To Leftover Some Money After Spending On Their Expenditure. Middle Class Should Save A Part Of Their Income Say 10 % And Not Just Save But Also Invest This Money. So That The Money Could Accumulate In Value.

 

These Concepts Were Taken From The Book Rich Dad Poor Dad By Robert Kiyosaki.

If You Want To Know More About The Book Do Read In Our 'Books' Section Or Click Here.

 

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