7 amazing lessons from the book Cashflow Quadrants by Robert Kiyosaki:
1. There are 4 types of people, based on how they earn income:
E - employee
S - small business
B - big business
I - investor
The goal is to be a B and an I if you want to take back your time.
E - employee
S - small business
B - big business
I - investor
The goal is to be a B and an I if you want to take back your time.
2. A salary is an addiction
As employees, our paychecks:
- release dopamine
- stop us from taking risks
- give us a false sense of security
E's can move to B's & I's, but they must buy assets with their paychecks.
As employees, our paychecks:
- release dopamine
- stop us from taking risks
- give us a false sense of security
E's can move to B's & I's, but they must buy assets with their paychecks.
3. Most employees fall into the rat race
Spend income on stuff & debt payments
Fall for instant gratification
Increase consumer debt
Allow lifestyle creep
To become wealthy you must acquire income-producing assets with your income.
Spend income on stuff & debt payments
Fall for instant gratification
Increase consumer debt
Allow lifestyle creep
To become wealthy you must acquire income-producing assets with your income.
4. Separate your emotions
Fear and greed drive our behaviors with money.
Fear stops many from taking risk
Greed pushes us to make bad decisions
We have an emotional brain and a rational brain
When we let emotions win, our emotional brain sounds logical, but it's really not.
Fear and greed drive our behaviors with money.
Fear stops many from taking risk
Greed pushes us to make bad decisions
We have an emotional brain and a rational brain
When we let emotions win, our emotional brain sounds logical, but it's really not.
5. You must BE and DO
When creating goals, don't just DO the actions, BE the person you strive to BE.
Action without belief won't get you anywhere.
Turn your daily to-do list into progress toward your goals.
Create systems, don't work harder.
When creating goals, don't just DO the actions, BE the person you strive to BE.
Action without belief won't get you anywhere.
Turn your daily to-do list into progress toward your goals.
Create systems, don't work harder.
6. To move to B and I, you must think about money differently.
- Change your words and thoughts
- Your thoughts drive your words
- Your words drive your actions
- Your actions drive your results
- Change your words and thoughts
- Your thoughts drive your words
- Your words drive your actions
- Your actions drive your results
7. Mind your own business
- don't distract yourself or waste your time complaining or trying to get gossip about others.
When you focus on your business:
- you get more done
- you are less distracted
- you start winning faster
- don't distract yourself or waste your time complaining or trying to get gossip about others.
When you focus on your business:
- you get more done
- you are less distracted
- you start winning faster
If you enjoyed this thread:
1. Follow me @iamcoriarnold for more of these
2. Share or RT the first tweet to share this thread with your audience
1. Follow me @iamcoriarnold for more of these
2. Share or RT the first tweet to share this thread with your audience
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