Get Rich The Time-Tested Way: Invest In Property
Author: AlexandriaP.Anderson Total views: 9 Word Count: 609
It's a good bet that, throughout your life, you have received nuggets of financial wisdom from a variety of individuals in positions of authority-- your parents, teachers, et cetera. But think back, and consider how many of these people who taught you how to handle your money were actually rich. The truth is that if you're going to be rich, you should take advice from someone who's already struck it rich.
In the words of real estate guru and author of the bestselling "Rich Dad" book series Robert Kiyosaki, "It doesn't take money to make money. I often hear people say it takes money to make money. I disagree. We had no money when we started and we were also in debt. It also doesn't take a formal education."
As an example of this phenomenon, Kiyosaki cites the life of Bill Gates. Gates, who never earned a single college diploma in his life, went on to become one of the richest men on Earth.
Robert Kiyosaki claims that to become wealthy, you simply need to be a quick learner, with enthusiasm about reaching your goals. The other part of the puzzle is to know where you're at right now in relation to money, and how you will have to change your attitude about money to prosper in the future. This is where Kiyosaki's Cash Flow Quadrant comes in.
Kiyosaki's "Rich Dad," actually his childhood best friend's father, is the one who introduced him to the Cash Flow Quadrant, a handy diagram that visually illustrates the ways in which individuals with different personalities relate to money. It consists of a square split into four quadrants, labeled 'E' (Employee), 'S' (Self-employed), 'B' (Business), and 'I' (Investor). If your aim is to become rich, you're going to have to set your sights on the 'B' and 'I' quadrants of the diagram.
What Robert Kiyosaki means when he says that in order to build wealth, you need to be a quick learner, is that you must learn the ropes of investing. Following in the steps of "Rich Dad," Kiyosaki himself invested in real estate-- a great choice for anyone considering investing, as so much depends on it. In his "Rich Dad," book, he points out how many of Hawaii's businesses were located on land owned by Rich Dad.
But he doesn't just mean you have to learn the nuts and bolts of investing. You do have to learn about those things, at least to the point that you are able to intelligently choose a professional to help you with your investments. But more importantly than that, you have to learn how to think like an investor, and possibly a bit like a business person too.
Now, this is quite different from being in the 'S' or self-employed section of the Cash Flow quadrant, because, a self-employed person doesn't own a business; he or she simply owns a job. Those who own businesses, says Kiyosaki, can leave for a year and return to find your organization still intact and profitable-- being a businessperson means that you are able to delegate authority to the right people, and not take on an excessive amount of responsibility yourself.
At the end of the day, you only really need to have a certain level of knowledge regarding the ins and outs of real estate, and the experts you hire can guide you the rest of the way. If you take one thing from reading this article, let it be this: if you aspire to be rich, it's time for you to make the move to the 'I' quarter of the Cash Flow Quadrant.
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About the Author
Author and Realtor Alexandria P. Anderson helps clients to find and purchase Bloomington MN real estate as well as Bloomington condos and houses in the Twin Cities.
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