I am currently reading Robert Kiyosaki's book Rich Dad Poor Dad
Lesson #1
is "The poor and the middle class work for money. The rich have money work for them."
What does this mean?
In short poor and middle class people have one thing in common
they work for money
NO work = NO pay (money)
very simple and very true
What Robert wants us to understand in this first lesson is that we must become owners
we must own businesses or shares of a business
that,
without us having to go and work,
grow and generate income
That is how to get rich
don't work for money, but invest your money in ways that generate income
without you having to work for a paycheck
Robert makes an interesting point when he tells a story his Rich Dad told him
about a donkey following a carrot on a stick while pulling a wagon for its owner
He says that the owner is going where he/she wants, but the donkey chasing the carrot is chasing an illusion
That illusion for everyday people is the paycheck
which is what the owner uses to get where he/she wants,
which is a greater return on his/her investment
In short Robert and his Rich Dad are say "Stop being the worker and start being the owner"
That is the way of the Rich
My take,
If you are reading this you are for sure familiar with cryptocurrencies
and how they are changing the financial landscape
to use Robert's advice in today's age
we can invest our money in ICOs or in strong alternative currencies like BitCoin or Etherum
Yes these things won't make us rich over night, but our money is working while we are not,
which is a good start.
I'll be posting lesson two tomorrow
Hope this helps! :)
The earlier one starts saving and steadily investing the earlier one will become wealthy. Upvoted.
do you consider getting into cryptos investing or speculation?
@goldsilverguide
Honestly, it is hard to find the divide between and speculation these days
but for sure investing, meaning buying low and hodeling
not trying to ride the speculation bull
that is not investing, but gambling
I am not rich, but I would think wealthy people don't gamble, but take educated investments over the long term
What do you think?
yes i would say their isn't many wealthy people in these markets, its just to volatile and dangerous. if merchants had to do all business based of bitcoin, there prices would be everywhere. I think wealthy ones are the creators of them and they don't care what the price goes to they still get paid. Cryptos to me are a bad currency source but the blockchain is a fantastic idea,