How did Robert Kiyosaki make his money?
Kiyosaki is a cash-flow investor who focuses on real estate to achieve his financial goals. In his world view, you want to generate enough passive income to cover all of your expenses, including the discretionary ones. For Kiyosaki, that is primarily accomplished through cash-generating real estate.
- Employee.
- Sole Proprietor/self-employed.
- Business Owner.
- Investor.
His approach involves using debt strategically to enhance wealth. Kiyosaki categorizes debt into good debt and bad debt, with good debt being that which helps build wealth, such as loans used for acquiring income-generating assets like real estate, businesses or investments.
Kiyosaki believes that rich people buy assets, and middle-class and poor people buy liabilities that they think are assets. Simply put, assets put money into your pocket and liabilities take it out.
In a market that generates a 2% annual yield, you would need to invest $600,000 up front in order to reliably generate $12,000 per year (or $1,000 per month) in dividend payments. How Can You Make $1,000 Per Month In Dividends? Here are the steps you can take to build yourself a sufficient dividend portfolio.
Robert has gained prominence for his expertise in financial management and strategic real estate investments. He is the founder of Rich Global LLC and the Rich Dad Company, a private financial education firm that delivers personal finance and business instruction through books and videos.
The BRRRR method was created by Robert Kiyosaki in his book “Rich Dad Poor Dad” and is used by many real estate investors today. The BRRRR method is an acronym that stands for Buy, Rehab, Rent, Refinance and Repeat.
Earned, Portfolio, Passive. So earned income is if I get a job, that's Earned Inc. If I'm a doctor or a programmer, that's earned income because I'm working for it. If I buy, let's say, Apple for 10 and I sent it for 20, that's portfolio income, capital gains.
Robert Kiyosaki's teachings offer a roadmap to financial freedom through diverse passive income streams. His top six assets for 2024 — real estate, dividend stocks, business ownership, intellectual property, paper assets, and covered call strategies — provide a comprehensive approach to building wealth.
If you have credit card debt, use only one or two cards and pay off all new charges each month. 2. Earn an extra $150-$250 per month and use it to pay off one card. (Kiyosaki says if you can't earn an extra $150 per month, the B and I categories are probably not for you.)
What was Robert Kiyosaki's famous quote?
The thing I always say to people is this: 'If you avoid failure, you also avoid success. ' The richest people in the world look for and build networks; everyone else looks for work.
Some examples include: Business Loans: Debt taken to expand a business by purchasing equipment, real estate, hiring more staff, etc. The expanded operations generate additional income that can cover the loan payments. Mortgages: Borrowed money used to purchase real estate that will generate rental income.
- “Intelligence solves problems and produces money, but money without financial intelligence is quickly lost.” – “Rich Dad, Poor Dad” ...
- “An asset is something that puts money in your pocket and a liability is something that takes money out of your pocket.” – “Rich Dad, Poor Dad”
According to Robert Kiyosaki, cashflow is the central difference between generating income in the E (employee) and S (small business owner) quadrants and the B (big business owner) and I (investing) quadrants.
According to real estate guru Robert Kiyosaki, there is a difference between the two: “The rich have lots of money but the wealthy don't worry about money.” It seems that the results in the Charles Schwab survey above confirms that most people don't understand what it means to be truly wealthy.
One of the easiest passive income strategies is dividend investing. By purchasing stocks that pay regular dividends, you can earn $2,500 per month in dividend income.
Understanding the $1,000-a-Month Rule: The $1,000-a-month rule is a simplified formula designed to help individuals calculate the amount they need to save for retirement. According to this rule, one should aim to save $240,000 for every $1,000 of monthly income they anticipate requiring during retirement.
Upon graduation, Robert turned down a well-paying job with Standard Oil and chose to enlist in the Marine Corps as a helicopter pilot at the time of the Vietnam War. After his service in the military, Robert went to work for the Xerox Corporation. His Rich Dad told him that the key to any successful business is sales.
Kiyosaki, recognized for his financial insights and books like “Rich Dad Poor Dad,” elaborated on his real estate ventures and unique financial strategies. During the interview, Kiyosaki revealed that he owns approximately 12,000 rental units, a significant increase from an earlier count of 6,500 properties.
How to invest like Robert Kiyosaki?
- Family and Friends. Raising investment money from family and friends is both the most accessible and the most dangerous way to go. ...
- Seller Financing. ...
- Cash Flow Financing. ...
- Lender Financing. ...
- Assumable Loans. ...
- Outside Investors. ...
- The Bottom Line.
Real estate mogul Robert Kiyosaki has built an empire of over 7,000 apartment units alongside his wife, Kim. Their success stems from adhering to two key principles: letting employment drive real estate investing decisions and avoiding high-end properties.
A student guide to navigating the financial world
It is important to be prepared for what to expect when it comes to the four principles of finance: income, savings, spending and investment. "Following these core principles of personal finance can help you maintain your finances at a healthy level".
The ability of gold and silver to appreciate against the U.S. dollar is one of the prime reasons why Kiyosaki said he is a big believer in them as an investment. However, he doesn't stop at just precious metals. Kiyosaki noted that he's a fan of commodities in general, including non-financial assets like cattle.
Robert Kiyosaki's net worth is estimated at $100 million, according to Celebrity Net Worth. He accomplished this by being an author, a writer, a businessperson, an entrepreneur, an investor, and a pilot. Kiyosaki started amassing wealth with the phenomenal success of his best-selling book, Rich Dad, Poor Dad.
