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The Path To Financial Freedom - A Summary of Cash Flow Quadrant by Robert Kiyosaki

The Path To Financial Freedom - A Summary of Cash Flow Quadrant by Robert Kiyosaki

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The Path To Financial Freedom - A Summary of Cash Flow Quadrant by Robert Kiyosaki

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  1. The Path To Financial Freedom - A Summary of Cash Flow Quadrantby Robert Kiyosaki E-mail: info@scythian.biz Website: www.scythian.biz

  2. The World Is Awash With Money • Every day $1.4 trillion criss-cross the globe looking for a home • That is $1,400,000,000,000 !!! • There is a ton of money waiting for excellent opportunities • If a country, a corporation or an individual knows how to take care of money, money will continue to flow to it

  3. The Debt Trap • The Bank: “Your house is an asset” • But, an asset on whose balance sheet? Theirs of course! • An ASSET puts money in your pocket • A LIABILITY takes money out of your pocket • The name of the game of capitalism is: “Who is indebted to whom?” • The more people you are indebted to, the poorer you are. The more people you have indebted to you, the wealthier you are. • The average American gets a credit card immediately after school and will be in debt until death • We are all indebted to someone else. The problem occurs when the debt gets out of balance.

  4. Be the Bank, not the Banker • “Be careful of money’s addictive power. Once you get used to receiving it, that addiction keeps you attached to the way you got it” • Most people struggle financially because they spend their lives using opinions rather than facts when making financial decisions • Expenses always rise to meet income. • It is not about how much money you make, but how much you keep and how long that money works for you

  5. Discipline Gets You Out Of the Debt Trap • Of your income, remember, the first 10% is yours to keep • That is, keep it aside and don’t touch it • With the remainder pay your normal expenses • You will quickly be forced to cut some expenses, but will get used to it • With the extra money do the following: • Decide to run all your expenses on one credit card • Never spend more on the card than what you can pay in that month • Pay the minimum payment every month plus pay your 10% into that single credit card each month • Keep paying until the card is paid off • Then start the process with the next card and then the next debt • Most people can be debt-free within 5-7 years if they stay disciplined

  6. B BusinessOwner E Employee i investor S Self Employed You Can Be Rich and Poor in All Quadrants Safe, Secure Job, Good Benefits Surround yourself with specialists, work as a group Make your money work for you Be your own boss, do your own thing

  7. B BusinessOwner E Employee SECURITY FREEDOM i investor S Self Employed Time To Choose

  8. Income Statement Balance Sheet Income Assets Liabilities Expenses Where Do You Get Your Income? • People are busier than ever • The only difference between the rich and the poor is what they do in their spare time • When at work, work hard. What you do after work with the paycheck for your hard work and your spare time will determine your future

  9. Your Balance Sheet Assets R100,000IOU Liabilities R70,000Mortgage Equity R30,000 An ASSET puts money in your pocket Buyer’s Balance Sheet Assets Liabilities R100,000IOU A LIABILITY takes money out of your pocket Turn Liabilities Into Opportunities • “If you take on debt personally makes sure it’s small. If you take on large debt, make sure someone else is paying for it.”

  10. The Secret To the Wealth Of Corporations • The Typical person: EARN - TAXES - SPEND 100 - 33 - 40 = 27 • The advantage of being the bank and not the banker EARN - SPEND - TAXES 100 - 40 - 20 = 40

  11. Income Statement Income Statement Income Income Job Expenses Taxes Interest Spend Expenses Spend Interest Taxes Balance Sheet Balance Sheet Assets Liabilities Assets Liabilities Rat Race Fast Track

  12. Money Buys You • Having lots of time to raise your kids • Having money to donate to charities and support projects • Bringing jobs and financial stability to the community • Having time and money to take care of your health • Being able to travel the world with your family

  13. What It Takes To Be Rich • A study of the rich world wide has shown that they: • Maintain a long term vision and plan • Believe in delayed gratification • Use the power of compounding in their favour • Einstein said: “Man’s greatest discovery was the power of compound interest” • We must all run our bit of work like our own business • As a group we will make the company more valuable and will grow our asset in the business