To understand why the recent turbulence in the markets doesn’t worry me, you have to understand what I mean. This is a blip on the radar. Nothing compared to what’s coming. If you want to map out the future, you need to study the past.
Rich Dad Poor Dad
I’m known for writing the #1 personal finance book of all-time, but most people recognize me as a “real estate” guy. It’s my personal favorite investment category. In a civilized world, a roof over your head is as essential as food, clothing, energy, and water. That why there will always be a real estate market. […]
Our country is facing a retirement crisis. The unfunded liabilities of Social Security and Medicare coupled with the low savings rates and decimated 401(k) large parts of the baby boomer generation not having enough money to retire.
One of the key principles we bring up over and over again is the difference between an asset and a liability. All other lessons hinge on understanding these two concepts.
Later as people drive down the highway of life, you hear them saying, “I would have, I should have, I could have.” As many wise people have said, “Hindsight is 20/20.” Rich dad said, “If you want to be rich, it is best to be farsighted.”
“I love market crashes.” Apparently not wanting to hear the rest of my explanation, the young man stomped off muttering a word that sounded like “moron.” I’ve covered this subject of booms, busts, and bubbles before in my columns and books, but since the world seems to be on the brink of so many different booms and busts, I think it’s a good time to revisit it.
For someone who wants to move into the B and I side of the quadrant they are motivated by a dream of financial independence and prosperity.They invest time and money now for an expectation of future income…passive income.
Even more than our education, our habits reflect our lives. Habits are very easy to develop and very hard to break, and once they’re developed, they control our behavior—sometimes in ways that we don’t even recognize. Often these bad habits lead to other bad habits. It’s a vicious cycle. For instance, many people want to […]