👨‍🦳💸 🧓📉

Lessons from Rich Dad’s Cashflow Quadrant (by @theRealKiyosaki)

1) Mind your own business

2) Give debt, don’t take debt

3) Self-employed is NOT the goal

4) Specialise, don’t diversify

5) Know and listen to the right people

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1) Mind your own business

The financial system is unfair, it’s rigged against the poor and middle class, it favours the rich.

However, it’s much easier to play the game and become rich, than it is change the system.

Treat yourself as a business and focus on building it up.
2) Give debt, don’t take debt

Debt is only useful when you can pass it straight onto someone else.

Ex: you buy a house and your tenants cover the mortgage costs with extra.

Even better be the one directly owed!

Think: peer-to-peer lending, renting out assets you fully own.
3) Self employed is NOT the goal

You haven’t escaped the rat race if you’re self employed, you’re even deeper in it.

Build systems & teams to fulfil those systems. So you could disappear for 6 months & ur biz has grown.

And buy assets that passively generate cashflow.
4) Specialise, don’t diversify.

Diversification is for those without time or will to specialise.

Pick your investing niche and become an expert in it.

(My add on: diversified, passive portfolios are a good way to lazily and passively grow wealth but never rely on them 100%)
5) Know and listen to the right people

You’re not the smartest person in the world.

Hire people who do things better than you do them.

Consult with experts (accountants, wealth managers, lawyers, etc).

Have and take advice from ambitious/successful friends.

Get a mentor!

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More from @StevenKippax

5 Sep
3 YouTubers you may have never heard of who will help you become wealthy.

1. Ben Felix
2. Justin Kan
3. Economics Explained

/ thread
1. Ben Felix

Ben combines a rich knowledge of investing theory with exceptional teaching skills. He makes easy to follow videos on complex investing topics.

A refreshing change to the entertainment-heavy, theory-lacking finance YT norm.

@benjaminwfelix

youtube.com/c/BenFelixCSI/
2. Justin Kan

Justin isn't a YouTuber, he's a Twitch founder. A company that sold for almost $1 billion to Amazon.

The fact he does YouTube is a blessing to any entrepreneur looking to get an insight into how successful start-ups are built.

@justinkan

youtube.com/channel/UCfRtw…
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