Retire Rich Retire Young pt.1

Disclaimer: I am in no way trying to reproduce the original contents of the book. This is merely my online notes of what I think best suited me in my education…

RETIRE YOUNG RETIRE RICH

Introduction : Why David Meet Goliath
-The Power of Leverage
-Rich Dad : CASH FLOW is the most important word in the world of money. The second most important word is LEVERAGE.
-Rich Dad : because leverage is power, some USE it, some ABUSE it, and other FEAR it.
-Kiyosaki: YES. I believe everyone has the potential to be RICH. It’s all a matter of LEVERAGE.

SECTION I: THE LEVERAGE OF YOUR MIND
-Why money does not make you rich.
-Rich Dad: Words Are Leverage. Words are powerful tools….tools for the brain. Your brain can be your most powerful asset or it can be your most powerful liability. If you use The Right Words in your brain you will become very rich. If you use The Wrong Words, your brain will make you poor.
-Rich Dad: It does not take money to make money. Getting rich begins with your Words and Words Are Free.
-Rich Dad: The difference between rich people and poor people is that poor people say ‘I Can’t Afford It’ more often that rich people. That is the primary difference.
-What you think is real becomes your reality. People who think investing is ricky invest in the riskiest of all investments.
-In order to find safer, higher yielding investments, people must First Begin by Changing Their Words.
-Wrong use of power of the brain – ‘I Can’t Afford It’ – ‘I Can’t Do That’ – ‘Investing Is Risky’ – ‘I’ll Never Be Rich’ – etc.
-Use your brain in Your Favor, not against you.

SECTION II: THE LEVERAGE OF YOUR PLAN
-Investing is a plan.
-The plan had to has and END and it also has a TIME LIMIT.
-One of the advantages of retiring young is that we now have the Free Time To Get Rich.
-Rich Dad: The problem with having a JOB is that it Gets In The Way Of Getting Rich.
-Most people have a plan to be poor.
-Planning to work hard all your life is a poor plan.

SECTION III: THE LEVERAGE OF YOUR ACTION
Q: If two ( out of three ) birds ( sitting on a fence ) Decide to fly away, how many birds are left?
A: Three birds are left.
-Lesson: Just because you decide to do something does not mean you will do what you decide to do.
-Kiyosaki: Sometimes to be successful we need to learn to Not Do what we have been taught To Do.
-Kiyosaki: Spend time to acquire assets rather than working for money.
-Rich Dad: Getting rich begins with The Right Mindset, The Right Words, The Right Plan. After you have that, the action steps are easy.

So why David meet Goliath?
Rich Dad: David met Goliath so he could meet the giant inside of himself.

*will continue to Section I : The Leverage of Your Mind