Making and managing money is more about the mindset than anything else, says Rober T, Kiyosaki. He believes our current education system doesn’t help us build this all important money making state of mind. Checkout these quotes by Kiyosaki on investment and building a money making mindset.
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”
To curb the external stimulus and keep your eyes on the long-term goals, you need to have discipline of mind. You have to be focused and not worry about results on a day-to-day basis.
“To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game.”
What Robert Kiyosaki has stressed most in his books and seminars is the ability to understand what are Assets and what are Liabilities. Why? Because,
“Rich people acquire assets. The poor and middle class acquire liabilities they think are assets”
Earning more money – through a job or business – doesn’t mean much unless that money is directed toward right investments and grows over time..
“Often, the more money you make the more money you spend; that’s why more money doesn’t make you rich – assets make you rich.”
You will come across many financial experts and gurus who talk about many different things. But you need to go beyond what they say on TV. The lines between paid media and real content is blurred.
“Talk is cheap. Learn to listen with your eyes. Actions do speak louder than words. Watch what a person does more than what he says.”
There are multiple ways and products you can invest in.
“Find the game where you can win, and then commit your life to playing it; and play to win.”
The most important skill any investor has is to know when to get out. Be it the equity market or real estate market. know when to get out.
“Always start at the end before you begin. Professional investors always have an exit strategy before they invest. Knowing your exit strategy is an important investment fundamental.”
Always have your goals clear. Just getting what you invested is not investing.
“One of the most important things a real investor needs to say is this; “I want my money back and I also want to keep my investments.”
Making intelligent investment needs skill and awareness of the risks that will separate you from the rest. Remember, The Big Short?
“It is what you know that is your greatest wealth.
It is what you do not know that is your greatest risk.
There is always risk, so learn to manage risk instead of avoid it.”
The times, the are a changin . . . and you need to keep your eyes out to stay the top of your game
“My poor dad said, “you need to know a lot about one specialty.” My rich dad said, “you need to learn a little about a lot of things”.