hey guys this is going to be an animated book review of the book Rich Dad Poor
Dad by Robert Kiyosaki before you watch this video I want you to leave a comment
below
of the largest asset that you own it might be a house in my car and
motorcycle just leave a comment below of the largest asset that you think you
have the first topic I'd like to get into
is that the poor work for their money they think in order to earn more money
they have to work longer hours and this is a huge misconception never think this
way where he will end up or you need to learn that your money can also make you
money you just have to use your creativity and imagination Rich Dad said
that more money and does not equal less problems and fax most of the time or
money means more problems he said that intelligence is will solve less problems
and it also earn more money by solving problems you will in turn are more money
so first big concepts basically really simple as that
the poor work for the money they think that time equals money time does equal
money but on a stricter level
the rich earn that money can create them more time and can make them more money
they think of it the other way around they think that money can earn them time
and money
the second big ideas like to talk about is that the rich by assets and the poor
by liabilities that they think our assets and this is why I wanted you to
leave a comment in the very beginning of the video is because a lot of people
what they think our assets aren't actually assets and asset is anything
that brings money into your pocket at the end of the month so let's say your
asset is your house let's say you said your house is bringing money into your
pocket or is it taking money out of your pocket
are you paying a monthly mortgage then it is not an asset it is in fact a
liability what about their new phone about is it a nasa nope actually
liability because you're making a monthly phone payment on it to the rich
by assets and what are some examples of assets some examples are businesses that
don't require your time now this is very important because if they do require
your time than it is a job in nine
so businesses that don't require time or little time stocks government bonds real
estate that generate income also royalties for music
scripts patents ideas basically anything that royalty there are even websites
that you can sign up
design a t-shirt and sell and if you saw that t-shirt you're earning a royalty
and that becomes an asset and there are tons of other ways to create passive
income through assets just had to use your imagination and creativity in fact
here's one little example I did last summer I had a lawnmower and I uses
lawnmower to generate some income through mowing lawns service and I
generated about I would say a thousand dollars and I wanted to save most of it
because I knew that it would come in handy later but I also want to invest a
little bit of it so what I did was I took $300 and I set up a website now I
started this website in August because that's when you kind of stop mowing and
I'm gonna show you guys the stats of it it is marked right now which means it's
been about seven eight months I had the words out several months I spent
probably two or three weeks in a row just writing articles for it and then
after that I wanted to spend the rest of the money into paying for other articles
paying for articles that people knew more about the night in writing these
articles so overall cost about fifteen bucks to buy the domain cost about $1 a
month which means of spin around seventy eighty dollars in hosting it and it cost
me about a hundred 200 bucks rather articles that I bought and I think I
have to around sixty or seventy articles every month I get an increase of
visitors I get more and more visitors which view more and more ads make more
money especially since I'm putting out high quality content written by
knowledgeable writers so I'm a paid $10 for an article but over the course of
ten years it's going to pay for itself back tenfold and I'm earning money to
this website through a program called madsen's and right now actually this
month is my first month that I broke even it's costing me $1 per month to
keep the website up and I actually made more than $1 this month
you have to be patient you have to learn to be very patient when you start
designing assets like this because it's going to take patients the rich know how
to use patients so how can you do something like this
well you need to find a problem and then you need to create a product or a
service that will solve that problem you have to use your mind use your
creativity imagination solve the problem in ways other people wouldn't be able to
even imagine how to solve it and then just charge that user little bit of
money every time you are solving the problem in my example I was solving a
problem about lost knowledge someone didn't know something so I wrote an
article about it and they put it on the internet and overtime as I had more and
more articles to this website it will become a better and better paying asset
it will earn me more money in the long term
another little thing about to add is anything ever can be an asset or
liability
let's take a house for example if you take a house and you were living in it
currently in its costing you a thousand dollars per month to stay living in a
house that's going to be a liability because its money coming out of your
pocket now if you take the house and you rented out to someone for $2000 now it's
actually an asset because the thousand dollars at you would have paid is being
paid by the renters and you're also earning another thousand dollars by
their profit I hope you guys learn something from this video and I hope you
can apply it to your life if you like this video like it if you are more
subscribe help to be putting a lot more videos at like this in the future
especially with my little stories and anecdotes and thanks for watching