Become rich and stay rich.
from Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
You don’t have to rely entirely on your assets; you can definitely work a day job too. However, do not use your day job as an excuse to forget about your asset column—you must work hard to build it up.
It is one thing to become rich, but you must follow the above two steps if you want to stay rich. Otherwise, you risk losing your money to bad investments, careless endeavors, or debt.
How to Apply This
-
Build your asset column, and keep it strong.
Once a dollar goes into your asset column, never let it come out. -
Buy luxuries last.
If your goal is to simply look rich, you will end up buying luxuries as soon as a little cash flows in. However, this will lead to debt on credit. If your goal is to be rich, you will have to put in the time and effort to make money first and buy luxuries only when you have the cash to afford them.
Why Use Mentorist?
- Track your progress and build lasting habits
- Get personalized reminders to stay on track
- Access hundreds of book summaries with actionable steps
- Transform knowledge into action in just 15 minutes a day
Ready to Take Action?
Download Mentorist to track your progress, get personalized reminders, and turn this insight into a lasting habit.