Welcome to FinanceCompanies. The book is the story of a person, Ten Core Concepts from “Rich Dad Poor Dad”. Winning means being unafraid to lose. You will become what you study, so choose your study materials carefully. Find people who are the best in their field.
Then study and emulate them. Failure inspires winners and defeats losers. Let failure inspire and motivate you, then move forward. Be in control of your emotions. Do not let fear or the opinions of others dictate your actions.
Surround yourself with people who are smarter than you, and pay them well. Saying “I can’t afford it” shuts down your brain. Asking “How can I afford it?” opens up your brain and triggers your financial genius.
Listening is more important than talking. Do not think with your mouth, but instead ask questions and absorb new ideas. For most people, their profession is their income. For rich people, their assets are their income. Work to learn, don’t work to earn. Find a job where you can learn.
How does a person say “thank you” when there are so many people to thank? Obviously, this book is a thank you to my two fathers, who were powerful role models, and to my mom, who taught me love and kindness.
The person most responsible for this book becoming a reality is my wife Kim—my partner in marriage, business, and life. She makes my life complete. Click
Rich dad poor dad is an amazing book from start to the end, everyone should read this book and gain an understanding of it, this book was a blessing to me when I read it.
Rich dad’s guide to investing
Being rich isn’t about how much money you make, it’s about how much you keep. Most parents want their kids to go to school, get good grades and find a safe secure job.
You’ve probably been raised to think that this is the best way to live a comfortable life. In reality, this is some of the worst advice to give. Why? The answer can be found in taxes and debt.
Those that earn their money as an employee or small business owner receive virtually no tax breaks, thus pay the most in taxes, often while making the least. To find out why financial freedom seems to only come to fruition for investors or big business owners, download Rich Dad’s Three-Step Guide To Financial Freedom now.
Rich dad poor dad quotations
- What is the benefit of reading Rich Dad Poor Dad book to commerce book?
- Why did Mrs Martin use to tear cover page of old comics into half for credit mentioned in book Rich Dad Poor Dad?
- Rich Dad Poor Dad quotes in English
Rich dad poor dad quotes
17 lessons from rich dad poor dad
1. Learn to listen.
2. pay yourself first.
3. buy luxuries last, not first.
4. reduce expenses & liabilities.
5. aim for more valuable assets.
6. Be in control over your emotions.
7. work to learn, don’t work to earn.
8. You become what you study – read a lot.
9. Reinvest excess cash generated by assets.
10. Surround yourself with people smarter than you.
11. There are no mistakes in life, just learning opportunities.
12. “Work to learn. Don’t work for money… Look for jobs that can help you develop the skills, systems, and people rather than just pay you well.”
13. One said “I can’t afford it”, the other “how can I afford it?”. One is a statement, the other question which forces you to think! If you say I can’t afford it — your drain stops If however you say/ask”how can I afford it” you force your brain to think.
14. “Your education begins when you leave school. Not when you’re in school.”
15. Failure defeats losers, failure inspires winners.
16. “Remember, your mind is your greatest asset, so be careful what you put into it.”
17. “If you’ve failed, that means you’re doing something. If you’re doing something, you have a chance.
Rich dad poor dad advisors
Start your own corporation by Garrett Sutton the Book start your own corporation by Garrett Sutton is a book from Rich Dad advisor series. The author Garrett Sutton is a corporate attorney and an asset protection expert with more than 30 years of experience He has also written four more books as a rich dad advisor in Start your own corporation.
There are risks known and unknown to protect yourself from such risks you need to limit your liability by establishing a corporation or other good entity a good entity is one that shields and protects your personal assets from business risk a Bad entity is one that provides you no protection whatsoever.
Bad entities Sole proprietorships and general partnerships are bad entities You put your personal assets at risk and are personally responsible for every bad thing that can happen in your business With a general partnership, you have double or triple or more depending on the number of general partners? You have the exposure of a sole proprietorship good entities Good entities are structures that are truly separate legal beings.
They are C corporation S corporations limited liability companies or LLC’s and limited partnerships lp’s Each one has its own advantages and specific uses.
Let’s have a closer look at each of the good entities Corporations They have evolved over the last 500 years to be the most commonly used entity to conduct business Very important when utilizing corporations corporate formalities must be followed.
This includes holding regularly scheduled meetings Conducting banking through a separate her bank account. Filing a separate tax return in filing corporate papers with the state on a timely basis failure to follow such formalities may cause piercing the corporate veil a Legal maneuver in which the creditor tries to establish that the corporation failed to operate as a separate and distinct entity.
Then the individuals involved are held personally liable one disadvantage of utilizing a c-corporation Earnings may be taxed twice once on the profit and again on the dividend paid to the shareholders the S corporation avoids the double taxation.
However is suitable only for small businesses due to some limitations It can only have 100 or fewer shareholders and there must be individuals corporations LLC’s and partnerships cannot be shareholders S corporations may only have one class of stock you Can consider starting with an S corporation and convert to a C corporation at a later date?
After you have taken advantage of the flowing through losses flow through taxation means that profits and losses of the entity flow through to the business owners tax return are dealt with at an individual level Limited liability companies or LLC’s LLC were created to provide the advantages of S corporations without the limitations to the shareholders.
They however do not feature the same transfer ability and liquidity of corporate chairs in an LLC Like a corporation the owners do not face personal liability for business debts or legal claims made against the company it’s important to note that you may become personally liable for certain debts of the company if you sign a personal guarantee as An example most landlords will require owners of a new business to personally guarantee that the lease payments will be made LLC’s offer two very flexible and workable means of management.
They can be managed by all of their members as will be the case in a small growing company Or they can be managed by just one of their members or even an outside person Limited partnerships or LP a limited partnership has two types of partners a general partner who is managing the business and is personally liable and Limited partners whose liability is limited to their contribution of capital to the partnership but may not be actively involved in the business to isolate the unlimited liability of the general partner a Corporation or an LLC can be formed to serve as a general partner of a limited partnership.
Thus making it a good entity the limited partnership provides a great deal of flexibility a Written partnership agreement can be drafted to tailor the business and family planning requirements of any situation LPS is a good entity for transfers of family assets from one generation to the next, Now let’s distill the key likes and dislikes about corporations and LLC’s LPS are similar to LLC’s C corporations.
No limits on shareholders and classes of stock the best entity for going public maximum fringe benefits allowed free transfer ability of stock Double taxation on profits once at the corporate level and next of the shareholder level fixed allocation of profits and less flexible management structure S corporations.
Efficient tax treatment the best entity for minimizing payroll taxes Must apply for flow-through tax treatment limits on shareholders and classes of stock taxed allocation of profits and less flexible management structure LLC’s Flow through a business debt flexible allocation of profits flexible management structure.
Difficulty of minimizing payroll taxes less free transferability of interests than corporate stock when forming an entity first thing to consider is the purpose to operate a business or to hold assets as A general guideline it is best to separate assets in LLC’s each holding one property. There is no one right answer to fit all cases be sure to work with your advisors and come up with the right entity mix and also consider using the best States for asset protection.
Nevada and Wyoming offer amazing legal and tax benefits for using entities formed their Only and company offers a few other advantages besides liability protection the book covers the topics of corporate debt Business tax deductions and insurance. They are all presented with the real-life case and in an understandable language So anybody can get a bit more familiar with the topic before delving deeper into it? for more details about tax deduction.
Rich dad poor dad free download
Rich dad poor dad audiobook youtube
I had two fathers, a rich one and a poor one. One was highly educated and intelligent. He had a Ph.D. and completed four years of undergraduate work in less than two years. He then went on to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies, all on full financial scholarships. The other father never finished the eighth grade.
Both men were successful in their careers, working hard all their lives. Both earned substantial incomes. Yet one always struggled financially. The other would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities, and his church. The other left bills to be paid.
Both men were strong, charismatic, and influential. Both men offered me advice, but they did not advise the same things. Both men believed strongly in education but did not recommend the same course of study.
was not yet poor. Both were just starting out on their careers, and both were struggling with money and families. But they had very different points of view about money.
For example, one dad would say, “The love of money is the root of all evil.” The other said, “The lack of money is the root of all evil.”
As a young boy, having two strong fathers influencing me was difficult. I wanted to be a good son and listen, but the two fathers did not say the same things. The contrast in their points of view, particularly about money, was so extreme that I grew curious and intrigued. I began to start thinking for long periods of time about what each was saying.
Rich dad poor dad real estate
We’re here to talk to you about one of our favorite subjects. It’s the subject of real estate. – Everybody begins at some point. Every single investor out there is a beginner. Robert Kiyosaki. – You know, everybody starts in the same spot.
Everybody starts as you started with a one-bedroom. – I started with a one-bedroom, one-bath also. Fundamentals are the same all the way through. – Just start. The only way you’re gonna fail is if you don’t start. – The problem is, most people don’t start.
But the point here is this. You don’t get it all in one day, you don’t get it from a book. Real estate is booming, there’s more money than ever before. There’s so much money, you know? And that’s the power of Rich Dad’s education, Rich Dad’s coaching, our books, our games, and all that, is to get your mind into the game because that’s all it really is. Why don’t I stop? Because it’s fun and it makes me a lot of money.