The Rat Race. A Book Review of Rich dad Poor dad. Legendary literature on personal finances and how you can become wealthy!

Hello Everyone.

 

Robert Kiyosaki wrote a very famous book on personal finance called, Rich dad Poor dad.  He had two fathers that gave him complete different advice.  One of them used that advice to become very wealthy and the other became poor.

 

This is a unique episode which we dive deep into this book I just read, we used examples to discuss the Rat race and how to acquire assets in real estate that will make you money, in the long term and in cash flow.   The rat race is a concept that your assets provide you with enough cash to cover your overall expenses.   If your monthly expenses are $3000, then you need enough assets to gain you $3000 a month in cash flow.  If you accomplish this you are weathly. It takes a lot of time so it's a race to accomplish this before you need to retire!

 

There are many, many people that have accomplished this and it takes A LOT of time, A LOT of hard work, A LOT of Education and A LOT of dedication.  I am going to give you guys some examples of how I gained a few assets and go over tips and suggestions on how to acquire real estate, what to do with it and how to acquire more over time.  

 

We also review Robert's 10 tips on how to get started

1. Find your Spirit (I call this finding your why)

2. Make Sound daily choices, educate yourself!

3. Master skills and then master others

4. Pay yourself first

5. Choice your friends carefully

6. Pay your Trades well

7. Get something for nothing 

8. Use Assets to buy luxuries 

9. Choose a hero

10.  Teacher others

 

Always remember: Fortune favours the bold!