Robert Kiyosaki is an American businessman, motivational speaker, financial commentator and radio personality who shares his ideas on how to become a success. Kiyosaki is also an entrepreneur who found self-publishing fame world-wide through his business education to people through; seminars, games, coaching, workshops and his books. He educates people through these on how to understand business and financial concepts to increase their personal wealth.
His advice on complex concepts and business ideas are presented with straight talk and easy to understand steps through his astounding story telling abilities. Much of Kiyosaki’s teachings are to encourage people to gain financial education so they can take an active role in their financial future.
Here are six life lessons you can learn from him:
- Accumulate assets that will make money
Kiyosaki firmly believes you should have enough money set aside at retirement to live comfortably. He does not believe in the traditional “nest egg” idea but rather accumulating cash-flowing assets. With these assets you will have a pipeline of cash flow for the remainder of your life.
- Pay yourself first
Kiyosaki says to budget your money to become rich. View your accumulation of extra money as a bill just as you have rent and utilities. Expect and plan to pay yourself each month by setting aside money for yourself just as you pay all other regular monthly expenses.
- Invest in systems, not products
People are always trying to get Kiyosaki to invest in one amazing product or another. Even though he may find that product amazing he rarely invests in just the “product”. His theory on this is that a great product needs to be backed by a great system. He would invest in a company that produces a great product, but not just a product by itself.
- Use other people’s money to invest
Kiyosaki began his path to wealth living as a homeless couple with his wife. His philosophy is you don’t need money to invest, you just need ideas. Others will buy into ideas if you develop them and sell their idea well.
- Invest only where you have influence
Don’t rely strictly on a broker to make your financial decisions. Use a broker as a tool where you direct in and out of transactions. Kiyosaki believes it is foolish to rely on your broker to know when to sell and buy; you should have this knowledge yourself.
- Control your investments
Kiyosaki’s philosophy is based on controlling your own finances, expenses and life. This extends into the terms of your investments that you are bound to. He states a sophisticated investor will be in control of the terms and conditions of their agreements.
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