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Cash flow is the foundation of every successful business, but investors do not have to start with their own money to build a business. Money can be made by acquiring an asset, turning an idea into a fortune, or building a business, using other peoples moneyOPM. This book will discuss different forms of OPM, how to find OPM, the consequences of using OPM, and the legal aspects and pitfalls of trying to access OPM…. More >>

Rich Dad’s Advisors: OPM: How to Attract Other People’s Money for Your Investments–The Ultimate Leverage

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Learn what to look for, what questions to ask-and what you can do to impact the bottom line profitability of your investments…. More >>

Rich Dad’s – How To: Find Great Investments

“The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money. . . but never learn to have money work for them.” Robert Kiyosaki

The #1 New York Times Bestseller “Rich Dad, Poor Dad” is a story about the money lessons that Robert Kiyosaki learned from his two dads, his biological father, who was his poor dad, and his best friend’s father, who was his rich dad. Poor dad was a Ph.D. and held a very important government position, but he never had enough money at the end of the month and he died broke. Rich dad dropped out of school at the age of 13 and went on to become one of the wealthiest men in Hawaii.

“Rich Dad, Poor Dad” is a must-read for anyone looking to develop a rich person’s financial programming and mindset. The first important lesson this book teaches is the following: Don’t work hard for money; instead, have money work hard for you.

Kiyosaki explains in his book that there are three types of income:

• Earned income

• Passive income

• Portfolio income

Poor dad taught his son Robert to go to school, study hard, and get good grades so that he could find a secure job that would pay him a good salary and give him excellent benefits. That is, he advised him to work for earned income, or to work for money. However, there are several problems with this strategy. First, income streams from a salary are linear: you only get paid once for your effort. If you stop showing up for work, you stop getting a paycheck. It’s like being on a treadmill. Second, earned income is confined to the amount of time that you work, and time is a limited resource. Therefore, there’s a limit to how much earned income you can make. And third, earned income pays the most taxes.

Passive income is income that does not require your direct involvement. You make a strong initial effort to get this type of income started, but then you do minimal work thereafter to keep it going. It can be income derived from royalties–for example, you write a book–, from patents–you invent something–, income derived from real estate, and so on. Brian Lee at geniustypes.com swears by bulk candy vending machines to create passive income. There are many ways to create passive income and the key is to be on the look-out for passive income producing opportunities.

Portfolio income is generally derived from paper assets such as stocks, bonds and mutual funds. Bill Gates is one of the four richest men in the world because of portfolio income, not earned income. That is, he’s rich because of the stock that he owns, not because of the salary he earns. One of the many benefits of portfolio income is that paper assets are easier to maintain than other types of assets.

Another way to think of passive and portfolio income is as residual income.

With residual income you work hard once, and it unleashes a steady flow of income for months or even years. You get paid over and over again for the same effort. That is, you get paid multiple times for every hour of work and the stream of income continues to flow whether you’re there or not. Therefore, you can spend your time doing things other than working for money. In addition, how much money you make is not determined by how many hours you work, but by how many residual streams of income you create.

Rich dad would say to Robert: “The key to becoming wealthy is the ability to convert earned income into passive income and/or portfolio income as quickly as possible.” Start looking for opportunities to create passive and portfolio income and develop a disciplined, well-planned strategy for your money.

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What makes rich gets richer? We notice that the rich keeps on getting richer while some of the poor gets poorer. Kiyosaki continued his teachings on his “Rich Dad Guide to Investing”. If you are not familiar, there’s this one rule originated by the Italian Economist Vilfredo Pareto in 1897 called “Pareto’s Principle or 80/20 Rule” also known as the Principle of Least Effort.

In business, we can apply it and we can say: put most of our efforts on the 20% of things that bring in 80% of the income in our business. Kiyosaki agreed with the 80/20 Rule for overall success in all areas but not for money. He went on to say that when it comes to money, he believed in the 90/10 Rule.

He noticed that 10% of people had 90% of the money. In the world of show business, 10% of the actors and actresses had 90% of the money. In the world of sports, 10% of the athletes made 90% of the money. The same 90/10 Rule applies to the world of investing. That is, 10% of the investors gained 90% of the wealth in the world. Would you want to be included in that 10% that owned 90% of the wealth?

Kiyosaki differentiated between an average investor vs. rich investor or commonly known as the 90/10 investor with regards to their thinking. This is also what makes the rich even richer. Let’s look how rich investor thinks.

Most investors say, “don’t take risks,” the rich investor takes risks. The world is full of risks and this is also applicable to the world of investing. We all know that a high return involves a high risk. And the higher the returns, the more profitable the investment is. The rich investor thinks about how to improve his skills so he can take more risks. While most investors lives in fear of stock market crashes, the rich investor looks forward to market crashes as an avenue or opportunity to make more money.

Most investors try to minimize debt. The rich investor increases debt in their favor. I think this idea has something to do with good debt vs. bad debt. A bad debt is simply a burden because it will drain our finances. A good debt, on the other hand, helps us to manage our finances and somehow makes us even richer. A debt can be considered a good debt if the interest income from where that debt is invested is more than the interest expense of the debt availed. This is what you called in finance as DEBT LEVERAGING. Let’s look at some of these examples of a good debt.

Charles availed of a loan from a bank to use in his business. The interest of the debt was 10% per year. However, his business was good and in fact surpassed the interest of his debt averaging at 15% per annum. In effect, he made 5%. So, his debt worked for him and in fact he turned debt into income. He just proved that a rich investor does not necessarily have some money to make more money.

Credit cards are known to be good sources of debt IF we do not know how to discipline ourselves. Tyrone took advantage of credit cards and he regularly pays his debt. In effect, he has accumulated points and later on exchanged these points for a camera. He later on sold this camera and made income from it. Did he buy the camera? No. It was just a freebie from being a loyal credit card user. His debt turned into income. The rich investor knows how to increase debt to make them even richer.

Most investor has a job. The rich investor creates jobs. It suffices to say that a rich investor is an entrepreneur. He belongs to the B-Quadrant or the Business Owner Quadrant of the cashflow. He is innovative and possesses the qualities of an entrepreneur. He makes his business ideas into reality and in return helps more people by providing employment.

Most investor works hard. The rich investor works less and less to make more and more. The rich investor is financially literate. He accumulates assets and he makes those assets to make more money for him enabling him to work less and less yet making more and more money. He makes his money work for him to make more money. In effect, he can retire early and even if he sleeps, he is still making money. He belongs to the I-Quadrant or the Investor Quadrant of the cashflow.

Today, because we are already in the Industrial Age and because of the power of the Internet, the idea of “money begets money” does not necessarily hold true. It does not require massive sums of money, land, and people to join the crowd of rich investors. The price for you to belong in the 10% that owns 90% of wealth is simply an idea and ideas are free. You can see that a new web retailer such as Google is perceived to be more valuable today than say an investment bank such as Merrill Lynch with more than 100 years of solid experience, massive real estate holdings, and more assets.

If you want to join the rich investor crowd or the 90/10 investors, you must learn to make money mentally more than physically. What makes rich gets richer? They think like a rich investor!

Excerpted from:
What Makes Rich Gets Richer?