Workers of the world – you have nothing to lose but your chains!
So said Karl Mark in his communist manifesto. However, the workers’ paradise turned into soul crushing nightmare for millions.
So, given that a utopian socialist paradise isn’t on the cards – you need a more realistic path to financial liberation.
And Robert Kiyosaki is a great person to learn from in this regard.
Why? Because, he’s amassed over 1,000 properties…built many multi-million dollar businesses…and he’s got a lot of wisdom to share.
Here’s 7 of his best tips.
Tip #1 – Allocate your money the right way
Don’t be ‘looking good, going nowhere’, spending all your money on doodads.
Appreciating, cashflow producing assets first – lifestyle luxuries second.
Tip #2 – Distinguish Good Debt from the Bad Debt
Contrary to popular belief, going into debt isn’t bad isn’t necessarily bad.
Kiyosaki isn’t against debt. He’s just against useless debt. Smashing the credit card at Westfield for example.
Yet, good debt can make you rich, if you have a well-developed risk-minimization strategy, and you know what you’re doing.
This is why you shouldn’t be afraid of taking on debt for the capital to grow or improve your business, or invest in real estate.
However due diligence, research and the right advise is critical, before you take this step.
Tip #3 – Master Income Producing Skills
Kiyosaki’s Rich Dad, told him he should master sales, because nearly all rich people are good at selling.
So Kiyosaki got a job Xerox, because they offered great sales training.
He also decided to help a charity ask for donations through cold calls. It was eventful, to say the least. However, he took those mistakes and learned from them.
What income producing skills do you need to get better at?
Tip #4 – Build your ‘A-Team’.
Many successful people will tell you that the whole ‘lone wolf’ thing that some entrepreneurs are pushing is just wrong.
Although it’s true that there are many things that you’ll have to do by yourself, having a team can make everything easier. The reason for this is simple.
Different people have their own ‘unique genius’ and when they are around you, you can tap into that.
Tip #5 – Have an Emergency Fund
No matter how good you might be at planning, something unexpected can always come up.
This is where having an emergency fund can make all the difference. It’s great to have 6 months’ worth of living expenses tucked away.
Tip #6 – Never Stop Learning
Dale Beaumont, says ‘if you’re not green and growing you’re ripe and rotting’.
As soon as you stop learning, you stop progressing. And everyone knows what happens to a business when it stops progressing.
For this reason, make sure to expand your knowledge every chance you get. Think of this; a book can give you 10 years of someone’s life experience in 2 hours of reading!
It’s like a multi-vitamin for the brain!
Tip #7 – Generate Multi-Streams of Passive Income
You also need to find a smart way of earning a more passive form of income, so you can be generating money while you sleep.
This is what Claude has done.
He discovered the Air-Cashflow strategy that allows you to make money from Airbnb properties – you don’t even own.
To check out whether this strategy is right for you come along to this free webinar.