I thank Robert Kiyosaki for pissing me off. Seriously, it was for a good reason. He introduced me to valuable information about money I wished I knew years ago.
I don’t have to work like a madman to make a decent living and pay the bills. There are good things called financial assets and passive income to help me with my money goals.
Growing up, I was spoon-fed the belief everything would be hunky-dory with a college degree and a traditional job. You didn’t have to work harder once you were equipped with them.
Wrong. Wrong, wrong, wrong to the twelfth degree!
How are you supposed to afford the $5,000 monthly condo of your dreams? Get rid of your $200,000 student debt with your three minimum wage jobs?
You don’t have to trade your time for money for 40+ years. After reading Rich Dad, Poor Dad, I discovered it’s possible to make money while you sleep, on the crapper, and not chained to a cubicle. The only thing you must do is build momentum with financial assets before the big rewards arrive.
If you’re done not living the life you want, here’s how to escape the struggle life through financial education:
1. Know There are Two Types of Income Streams
Kiyosaki notes two types of income streams exist: active and passive. Active income is when you must be physically present for money. This could be your day job, whether you work in a corporate office or a fast-food joint. Once you stop working, the income stream dries up (and you’re jacked).
You don’t want to depend forever solely on active income streams. You have your life; it’s time for passive income to work for you.
Passive income is money flow you set up and goes on without your presence needed. Don’t forget you’ll have to build a strong foundation before the money comes to you with ease.
Examples of passive income streams include:
- Affiliate marketing
- Amazon book flipping
- Real estate investing
- Book royalties
- Starting a Youtube channel
- Dividend investing
Build passive income streams now, and you’ll be able to live life more on your terms. Who doesn’t want control of their own life?
2. Create Money Goals
How much do you want to make, so you don’t have to rely on your day job forever? $5,000 a month? $10,000?
Start writing down your money goals and passive income streams you’re willing to build. Remember, the more income streams, the better. You might reach a point where your investments support you traveling around the world for months at a time. It wouldn’t happen if you worked in a part-time job making $12 per hour.
3. Invest in Your Self-Education
External wealth originates from internal wealth. You must fill your brain with ideas of financial abundance before physical abundance fills your bank account.
The struggle life is the result of one’s past actions. Don’t blame yourself because you weren’t aware. You’re better off learning and taking the right steps now than doing nothing besides blaming the government or college for your financial problems.
The money you want to make depends on YOU.
1. The 10 Pillars of Wealth by Alex Becker
2. The Millionaire Fastlane by MJ DeMarco
3. Rich Dad, Poor Dad by Robert Kiyosaki
4. The Science of Getting Rich by Wallace D. Wattles
5. Side Hustle: From Idea to Income in 27 Days by Chris Guillebeau
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