Robert Kiyosaki reveal how to become rich

⁣Robert Kiyosaki advocates a shift in mindset and approach to wealth, emphasizing the importance of acquiring assets and learning financial literacy. He stresses that the rich don't work for money, but instead acquire assets that generate passive income. Kiyosaki also highlights the value of leveraging debt, particularly for asset purchases, and encourages building a diversified portfolio across various asset classes.



Key Concepts from Robert Kiyosaki:
Focus on Assets, Not Liabilities:
Kiyosaki emphasizes acquiring assets, such as real estate, stocks, bonds, and businesses, which generate income, rather than liabilities, which drain income.



Financial Literacy:
He stresses the importance of understanding financial concepts like the difference between assets and liabilities, and how to use them to build wealth.



Leverage Debt:
Kiyosaki suggests using debt to acquire assets, particularly real estate, and allows for passive income generation through rental income.



Diversification:
He recommends investing in various asset classes like business, paper assets, commodities, and real estate to diversify risk and increase wealth.



Increase Income, Not Decrease Expenses:
Kiyosaki suggests prioritizing income generation over expense reduction, emphasizing passive income streams.



Work to Learn, Not Just Earn:
He advocates for acquiring knowledge and skills through work, rather than solely focusing on earning a paycheck.



Pay Yourself First:
Kiyosaki recommends allocating a portion of income to investments and saving before addressing other expenses.