Kyosaki is best-known for his books on investing. His first bestseller was titled Rich dad poor dad
, and is an attempt to change the mindset of the average employee. Kyosaki talks about his "poor dad", his actual father, who was the Superintendent of the Hawaii State Department of Education but had very little real net worth, as well as his "rich dad". According to Kyosaki, his rich dad was his best friend's father who became very wealthy by investing his smaller income into income-producing investments, and became truly rich in so doing.Kyosaki uses the "rich dad, poor dad" comparison to illustrate his view that the majority of people are stuck in what he refers to as "the rat race" - living paycheck to paycheck and spending all of their time working to pay bills. In his books, Kyosaki advocates tax-advantaged investment vehicles, such as real estate or businesses, rather than the traditional individual ownership of securities. He describes what he calls the cashflow quadrant, which is an attempt to differentiate between Employees, Self-employed or Small business owners, Businesspeople (as in those who buy and sell businesses, rather than running their own), and Investors.
Didactic games
In an attempt to open more minds to the thought processes of the rich, Kyosaki has created several games to reinforce the points in his books. His first game, Cashflow 101
, teaches players how to get out of the rat race by acquiring assets that produce passive income in excess of expenses.
Cashflow 202
is a more advanced game which attempts to help players learn about more sophisticated investing strategies, such as stock options. Kyosaki also targets adolescents with the game
Cashflow for Kids and his book Rich Kid, Smart Kid
.Assets v liabilities
One of the basic points he tries to get across is to think of an asset as simply something that puts money in your pocket, and a liability as something that takes money from your pocket.
Thus your own home is always a liability under this thinking, and only an asset for the bank, since the mortgage payments take money from your pocket and puts it in the bank's. Even after the mortgage is paid off, the home is still a liability because of rates and maintenance. Whether an investment property is a liability or an asset depends only on whether rental income exceeds the costs of interest, rates and maintenance.
Biography:
Robert Toru Kyosaki was born born April 8, 1947, and raised in Hawaii. Robert is fourth-generation Japanese-American. He comes from a prominent family of educators. After high school, Robert was educated in New York. Upon graduation, he joined the U.S. Marine Corps and went to Vietnam as an officer and a helicopter gunship pilot. Now he is is an investor, businessman, and author. Married to Kim.
Kyosaki 's books on becoming rich:
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Polish lang version -
polska wersja językowa tutaj: Kyosaki, bogaty ojciec itp. po polsku
Other interesting Kiyosaki resources: Robert Kiyosaki Fraud. Well, did he made a fraud or not? Rich dad, poor dad rewiev Nice rewiev by Yochention. Go see. Financial literacy Nice article on financial literacy and increasig wealth Affirmations based on Rich Dad, Poor Dad book Do you know the power of affirmations? It's huge! it's tremendous and amazing. Read that article and see for yourself. Robert Kiosaki An author of bestsellers. Even teens may be rich - simple advice for teens to become rich. Kiysaki and his books. My Rich Dad journey - Two years ago, one guy introduced me to Rich Dad Poor Dad by Robert Kiyosaki... Kyisaki and his games. Did you know that Toru is Kiyosaki's middle name? 260 weeks in New York Times best paperback advice list! Wow, that IS great! |