The Definition of Rich
Forbes magazine defines rich as $1 million in income and $10 million in net worth.
Rich dad had a tougher definition:
a consistent $1 million in passive income, which is income that comes in regardless of if you work or not, and $5 million in assets, not net worth.
Net worth can be an elusive and much manipulated figure.
He also felt that if you could not maintain a 20% return from capital invested, you were not really an investor.
The price to reach dad's goal, starting from nothing, is actually measured in rich dad's 3 E's:
Education
Experience
Excessive Cash
It starts with a Plan
have a plan, be focused, and play to win.
the data and the dollars are derived from having a dream, being dedicated, and having the drive to win.
Money is just an idea.
If you think money is hard to get and you'll never be rich, then it will be true for you.
If you think that money is abundant, then that can be true.
Bill Gates, Michael Dell, Richard Branson: they did not become billionaires by looking for a job and putting a few dollars aside.
Rich dad had a tougher definition:
a consistent $1 million in passive income, which is income that comes in regardless of if you work or not, and $5 million in assets, not net worth.
Net worth can be an elusive and much manipulated figure.
He also felt that if you could not maintain a 20% return from capital invested, you were not really an investor.
The price to reach dad's goal, starting from nothing, is actually measured in rich dad's 3 E's:
Education
Experience
Excessive Cash
It starts with a Plan
have a plan, be focused, and play to win.
the data and the dollars are derived from having a dream, being dedicated, and having the drive to win.
Money is just an idea.
If you think money is hard to get and you'll never be rich, then it will be true for you.
If you think that money is abundant, then that can be true.
Bill Gates, Michael Dell, Richard Branson: they did not become billionaires by looking for a job and putting a few dollars aside.
