Kiyosaki says …
I don’t spend a lot of time on YouTube, but every once in a while I will visit and take a look at some videos.
I’m glad I went there this morning. Well, I’m sort of glad. I decided to watch videos by network marketers. I like to keep an ear to the ground for new stuff and new ways of doing network marketing activities. Today’s mission was to find a way to passively advertise a network marketing business.
Unfortunately, I didn’t come up with any ideas and now I’m not even sure that finding a passive way to advertise is what we really need to become successful network marketers. I’ll write more on that later.
After I watched the second video, I was given some choices of related videos to watch. You can always count on YouTube to do that for you. One of the choices was a video by Robert Kiyosaki. I’m a big fan of his. I’ve read many of the Rich Dad books. I’d say that I’ve read 5 or 6 of them.
They are all great books with fantastic information in them, but I have to admit, that for some reason, they didn’t really resonate with me. Maybe resonate isn’t the right word. I don’t want to say that I “didn’t get it” because I understood what he had to say. I guess I just didn’t take it to heart.
Needless to say, I never followed his teachings. My bad!
Well, the video I watched sure stuck home! Wow, what an idiot I’ve been.
I think back to the financial education that I received when I was growing up. Which was next to nothing. My parent never even taught me how to balance a checkbook. They did tell me one thing. “Banks only lend money to people who don’t need a loan.” That’s not even true.
I heard what Kiyosaki had to say and I thought about for a minute. I felt like someone had punched me in the stomach.
He explained how rich people get rich, stay rich and even get richer, every year. I’ll tell you the same information, but in the form of a question.
What’s the difference between rich people and poor people?
Rich people buy assets and poor people buy liabilities!
This is why the rich get richer and the poor get poorer. It’s as simple as that.
What is an asset and what is a liability?
Do you think that the house you bought is an asset? It’s not. It’s a liability!
A liability is any thing that takes money out of your bank account. Things like your house or apartment. Your car. Even your children are liabilities. Yes, sorry to say, but they take money out of your pocket!
An asset is anything that puts money into your bank account. That makes your job an asset. Hmm, that sucks! Anything that you own that produces income is an asset. If you have invested in gold, silver, stocks or bonds, they are only real assets if they are producing income. Maybe you get a dividend from a stock that you own or your bonds are paying interest, then those would be assets.
Gold and silver may go up in price, but they are only investments until you cash them in.
If you buy a house to live in, it is a liability. If you buy that same house to rent out and it’s rental income exceeds the mortgage payment, then it is an asset.
If you are in network marketing and you are not making any money, then your business is a liability. It won’t be an asset until you start to turn a profit.
Remember that an asset puts money in your pocket and a liability takes money out of your pocket!
While the poor and middle class are told to buy a new car, a new wardrobe and a new HD TV, all of which are liabilities, the rich are buying income producing rental property and profitable businesses.
The rich get richer and the poor get poorer.
It all kind of makes sense now, doesn’t it.
Screw you, Madison Avenue!!
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