Rich Dad- How to read a financial statement - the CASHFLOW of the RICH
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- เผยแพร่เมื่อ 12 มิ.ย. 2024
- In this video, we examine the cash flow patterns of the poor, the middle-class and the rich. The video is inspired by the book “Rich Dad Poor Dad” by Robert Kiyosaki. In the book, the author explains how rich people are getting richer by acquiring assets and how poor people are staying poor by acquiring liabilities. ✅ Get Rich Dad Poor Dad Audiobook FREE from Here:amzn.to/2XO8Cze
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Thank you guys for your fantastic videos! I believe that we have always a lot to learn from books and your videos summirize them in a very delightful way!
Thank you for the kind words!
Thank you so much I'm starting to learn a lot from you in a young age !!! Ty💯😁
Glad to help!
Kenn Cholo - the hardest thing for people, is figuring out, how to live on 20% of their Income! Banks, are not here to help us, either, until WE learn how to properly use their "Financial Products" to create an income producing acquisition "Process!" (Not a one time "Event", but, a Repeatable Process!)
Thanks for sharing
Thanks for watching!
There's no age limit in becoming rich.!!! Just the Right Way.!
True
That's true for the most part, but at 73, I don't have the time needed. I wasted my years like the middle class do.
would you recomend taking accounting in highschool?and why?
If you're interested in being wealthy or owning a business then 100% yes. Actually, if you're in highschool watching this video then you should definitely take accounting
How do I fill out balance statement and income statement monthly, I'm new to financial education.
Great question! We will consider making a video on the topic. In the meantime look for other videos on youtube on how to fill a personal income statement
easier said than done
Yep, it's always easier to say than to actually do it. But hey, challenges make life interesting, right?
@@ReadAndGrow true that
So rich people don’t eat and buy clothes I’m confused
If you’re confused watch the video again.
They do eat luxury foods (understand here "health" foods) and buy decent clothes (most of rich people don't necessarily buy designer clothes).
How? Buy using the income their earned through the asset column. They don't use their earned income (salary) but the cash flow derived from their assets (stocks, bonds, real estates, deferred-taxi, etc etc)
You understand the difference?
Yes, I have assets in cryptocurrencies that generates me residual income 😁
Great to hear that. Robert Kiyosaki is also talking about crypto now.
Not so fast! It may increase in Value, due to market changes, and you may "own" some, but, it doesn't pay you out in Dividends, unless it's a "Collective Fund" that you own, that invests in Crypto.
It's just like a Stock, in that you hope to buy low and sell high!
@@robertweekley5926 ok whatever, i'm paid every day in dividends
@@VincentMillet1 - OK! Great! 👍
@@VincentMillet1care to share what your investing in? I’m always looking for opportunities. Gracias
Nothing to do with reading a financial statement
False! Everything to do with it!