When you are investing your money be sure to have ticked these 6 fundamentals before pumping your money into certain investments.
00:00 why you should be writing your own book
When you write a book to inspire others, and when others buy your book, you’ll get royalties for your book, and when your book is timeless you’ll be paid every time someone buys your book, even in the far future when you are old and have forgotten about your book. This is why robert kiyosaki has written so many books to inspire others, and reap the benefits of his own book from 1997 and yet, today people still talk about it.
00:48 investing fundamental #1: using other people’s money (opm)
The first fundament robert kiyosaki teaches about is using other people’s money to invest. Grow your own capital by using other people’s money. This can be debt, but good debt of course. Use other people’s money to invest and grow your own money at the same time. We don’t want bad debt that does not increase your wealth or cashflow.
03:47 investing fundamental #2: three types of income
The second fundamental robert kiyosaki teaches is that you need to have three types of income, the first one is active income, that comes from your own input of work, time and effort. The second is portfolio income, everything that generates you money when exchanging a certain product or service you own. Like stocks that you sell, real estate that you flipped. Not something that is directly your active income, or something that you put in your time and effort to create but something that you get benefits from. You are selling your portfolio and getting paid for it. The third type is passive income, the concept of this is that you do work up front, and in the future you’ll get paid by it, every time again, without doing work anyways. Keep getting paid in the future. That’s how passive income should be.
08:06 investing fundamental #3: financial education
Our school system does not teach the new generation how you should make money. It teaches us to learn for a certain profession. Do the profession in the society and keep the society running together. It never teaches anything about how you should become rich and make money so you dont have to work anymore. Because if we would all do that, who would do the work normally the poor and middleclass do? This is why this is only meant for a select group of people. Get yourself financially educated as robert kiyosaki teaches.
11:56 investing fundamental #4: invest for cashflow
When you invest your money, be aware that you need to invest for cashflow. You invest the money for more money. Well then, if there is no money coming forth.. What are you doing then? Cashflow is king, and you need to create something that generates cashflow!
13:43 investing fundamental #5: investing is not risky
Know that investments are not risky. It is you who can be risky for yourself. When you not know what you’re doing, you are absolute risk to yourself
16:26 investing fundamental #6: raising capital
Make yourself aware that you need money to create more money. Learn to raise capital to make it happen.
17:55 the fundamentals everyone should apply
Learn from those who have done it before you. Take on the knowledge of mentors to teach you. Work together and learn!