Robert Kiyosaki's Infinitely Rich Strategy
From: Steven Ng <firstname.lastname@example.org>
Date: Mon, 07 Jun 1999 12:49:50 0800
First, he adopted his
definition of "rich" from R. Buckminister Fuller, the great thinker
and inventor of the twentieth century. "Bucky" said that if you
stopped working today, you could determine how wealthy you were by how many
months you could survive without changing your lifestyle and without working
again. For example, if you had monthly expenses of $3,000 per month and you had
$10,500 in assets, you could last three and a half months. As a result, you
would be 3.5 months rich. It's that simple.
Second, the key to being infinitely rich -- to not having to work ever again -- is to have assets and passive income (income you get without working) that are equal to or greater than your expenses. In the example given above, if you had assets that gave you $3,000 per month in passive income, you could last forever. You would, therefore, be infinitely rich.
Third, Robert Kiyosaki realized that there are four basic ways to achieve infinite wealth by this definition:
First, reduce your expenses. And even if you are poor, taxes are probably your biggest expense, so you must reduce your taxes.
Second, increase your assets. This means pay yourself first.Allow your assets to grow so that your money is working for you instead of you working for money.
Third, increase the passive income you receive from your assets. This concept is so simple and so few people think about it. Yet it is incredibly powerful. I figured out how to increase my passive income by $1,700 per month when I realized the power of this. And you probably can increase your income as well -- just by following this key principle.
Fourth, once you've achieved infinite wealth, it's then very easy to raise your lifestyle and bring luxury into your life. Why? Because, as Robert Kiyosaki puts it, you are now on the fast track instead of being in the middle of the rat race.
These techniques and procedures are very simple. Anyone can become infinitely wealthy in about five years -- no matter what your age is or what your income is -- just by following these simple steps. But few people do. They are in the "rat race," always struggling to pay this monthís bills. And thatís why is so important for you to get the right plan and rid yourself of any personal blocks to following them right now.
ARE YOU IN THE RAT RACE or ON THE FAST TRACK?
"Okay," you say, "why doesnít everyone use these simple techniques?" The answer is simple -- they canít. Most people have psychological blocks keeping them from success. Unless you are already wealthy, you probably have some of these blocks as well. In fact, the "average" person wonít even decide because their blocks to wealth prevent them from taking actions.
Learning about "financial intelligence" is about breaking free of the patterns of thinking like the poor. Thatís why life-long learning about financial intelligence is so important, because it's not only teach you how to become infinitely wealthy and help you develop a personal plan, but also provide you with choices to overcome whatever roadblocks you have standing in your way.
Psychologists have documented hundreds of "natural biases" people have that cause financial failures. These natural inclinations to fail will continue to support the social security statistics showing that the average person at retirement will only be worth $2,300. Thatís the fate of most Americans unless they take steps to overcome those biases now.
One researcher surveyed the winners of the Irish Sweepstakes over a twenty-five year period. The winners were people who had won substantial amounts of money. Yet, at the time of the survey, 19 out of the 25 were worse off financially than they were before theyíd won the money. Why? They hadnít learned the principles of wealth-building and were thus unable to keep the money theyíd received.
Do you think that the "King of Rock and Roll", Elvis Presley, was fabulously wealthy? He wasnít. When he died, his total estate was only worth five million dollars. Thatís right, his estate was worth less than he earned in a single year. How much would you be worth if you had earned five to ten million a year over the last 20 years of your life? Based upon his lifestyle, Elvis Presley wasnít even rich. He probably could only last six months to a year maintaining his lifestyle without working.
Letís be even more basic. Are you in the same situation as Elvis? Is your net worth right now greater than what you earn in a single year? Most people will probably answer "No." Is that what you want for yourself? Of course not! As a result, you really need to learn more about financial intelligence in overcoming personal roadblocks to accumulating wealth. It simply about choices that you need to make to get out of the rat race and onto the fast track to infinite wealth.
Source -- from a internet website