Happy Friday!! Welcome to another edition of educational Fridays, where we will post up material (videos, infographics, links, etc) to help you learn more about passive income and investing.
This video below, by Evan Carmichael, highlights the best rules for success from Robert Kiyosaki. Robert Kiyosaki is the author of the famous book, Rich Dad Poor Dad. There is much controversy on his life and teachings, but I think from a knowledge standpoint, there are good points in the book Rich Dad Poor Dad and from his lessons. If anything, it motivated me to think more about my financial future.
Robert Kiyosaki’s Top 10 Rules For Success:
1. Experience makes you smarter
A fourth-generation Japanese American, Kiyosaki was born and raised in Hilo, Hawaii.
2. The more you give, the more you receive
After graduating from Hilo High School in 1965, Kiyosaki attended the United States Merchant Marine Academy in New York.
3. Change the way you think
After graduating from college in New York, Kiyosaki began his career by taking a job with Standard Oil’s tanker office. He resigned after 6 months to join the Marine Corps.
He served in the Marine Corps as a helicopter gunship pilot during the Vietnam War in 1972, where he was awarded the Air Medal.
5. Hard times bring new opportunities
Kiyosaki was honorably discharged from the Marine Corps in June 1974. He then joined Xerox as an sales associate until June 1978.
6. Design the business properly
In 1977, Kiyosaki entered the retailing industry. He started a company that brought to market the first nylon and Velcro “surfer” wallets.
7. Know what you are working hard for
In 1994, he retired at the age of 47. In 1997, he launched Cashflow Technologies, a business education company which owns the Rich Dad and Cashflow brands.
8. Don’t be afraid of losses
A financial literacy advocate, Kiyosaki has been a proponent of entrepreneurship, business education, investing, and that financial literacy should be taught in schools around the world.
9. Aim to acquire assets
Kiyosaki also maintains a monthly column on Yahoo Finance.
10. Stop saving money, hedge it
His sister, Emi Kiyosaki, is a former Tibetan Buddhist nun. He has co-authored one book with Emy called “Rich Brother, Rich Sister”.
My favorite rule is #7, “know what you are working hard for,” because you should have a purpose in life and if you do, you will be willing to do whatever it takes to achieve the purpose. Which rule do you like the most?