Important things you need to know for your Financial independence.

    

    

Still in 21st century most of our parents tell their children as "the best path to success is to go to school".

The problem is still what does the school teaches you about money ? Answer will be Nothing.!!

I'm today here to tell you about the main 7 things that were given by Robert Kiyosaki ( famous author of the book Rich Dad and Poor Dad).

1. How to read a financial statement? 

A.  Read Income statement and Balance sheet                     statement of cash flow.

2. The different types of Income. 

A.  a) Employe(E) ( job security they work for money)

      b) Self employed(S) (small bussiness holders,                    Doctors  lawyers etc..) 

      c) Big Business holders(B) (more than 500                          employes )

      d) Investors(I) (known as Insider) 

poor Dad teaches you about E and S

Rich Dad teaches you about  B and I 

3. Why should you work for assets but not for a                  Paycheck? 

A.    Income will be a single source of earning it will provides you the temporary needs but an Asset will provides the constant source of income throughout its life. So one should keep focus on assets to generate multiple incomes.

4. Why savers are Losers?

A. Robert kiyosaki call Gold and platinum are God's money just because they won't change their dimensions with time but their value chnages and hikes along with time. So if you just save your earned in the bank or somewhere they just gets lesser its value day by day along with inflation, but if you use that money to buy an asset or these ETF's(gold, funds) they will give you the true rewards. 

so a single Gold coin worth more than a Box full of currency coins by means of time.. 

5. Don't be afraid to make mistakes.

A. Mistakes are really the great ways to learn and also to unlearn particular things. we get to learn the best of the major life lessons while making some of those the small and silly mistakes . When we commit a mistake while doing something, it means that there is a way to do the same thing in right manner. So every mistake teaches a new thing and try to take the best out of the worst. 

6. Taxes Make you Richer.

A. You can see now a days most of the billionaires are not paying taxes as because the Tax law states that there will be no tax for the growing Value of assets like stocks and properties, only taxes they pay are for sales of those items they sell but not the assets they have. so be an investor and grow your money and also the country's money more and more. 

7. What did school teach you about money?

A. A banker doesn't need your grades or marks you got in your school. What he really needs is your Credit scores and your financial statements. So schools don't teach you anything about money, they only teach you about marks and grades. So you need to learn how to be financially independent that's what you all need at end of your education and that's the real game of life.

Source : from Robert kiyosaki interviews, I had taken the information and made it for you guys.. let's rock it and learn more to earn more.

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