Read to Succeed

I recently finished reading "Rich Dad, Poor Dad" by Robert Kiyosaki. I could not put this book down. It was choc full of information, inspiration and anecdotes. The author opens the door into his life growing up with his real dad (educated, but poor) and his mentor dad (financially literate and rich).

Just a few of the many things I learned:

- Instead of saying "I can't afford it", ask "How can I afford it?" Your brain stops thinking when saying "I can't", but when you ask yourself how, you are forcing your brain to think.

- The poor tell their kids to study hard and get hired at a good company. The rich tell their kids to study hard to find a good company to buy.

- Pay yourself first and invest! Why give your hard-earned money to everyone else, then keep whatever is leftover? Think of each dollar you invest as your employee. Let the "employees" work hard while you sleep.

- There are 3 types of income: earned, passive, portfolio. Earned income is what everyone is familiar with. We work at a job and earn a paycheck. Passive income is money that works for you. Portfolio income is paper assets, such as stocks and bonds. We need to learn to turn earned income into passive and portfolio income.

Money is just an idea. Once you realize this, you'll learn how to get more of it.