Thanks to a dear friend of mine, I got a VIP ticket to NAC 2012. And then I got myself a seat in the very first row
The experience is like Robert is talking to me the whole session, because he is standing right in front of me, literally.
What he talk about, he already written them in words in his books. He’s just trying to explain everything again, but in a very short time.
Let’s review a few of what he shared:
1. ESBI income quadrant. The BI side are generous people and they create job. They take risk and get rewarded for it. The ES side have less control and are very dependent. ES sells their time for money. BI buys time to create more value. Robert hopes that there will be more BI. Because BI will make better product and charge less.
2.Infinite Return. The concept is no money down. When you can have a no money down deal, then your return on investment will be infinite. Although in the example that Kim Kiyosaki shared, they still need to put some money down in the first two years. But after that they get it all back and it becomes no money down.
3. Asset vs Liability. In Rich Dad’s point of view, anything that takes money from your pocket is liability even though in accounting they call them asset. Things like car, houses that you stay in, these are liabilities. Asset is something that put money in your pocket. A money making business, real property rental, book royalty, etc, these are the asset. And its always the rule in Monopoly, 4 green houses, 1 red hotel. Rinse & Repeat.
4. Financial education is important. Traditional education just doesn’t make the cut. The banks & government are creating this massive inflation that robs and rip off everyone. These people keep printing money and makes money worth less and less until its worthless. Sooner or later, another round of financial crisis will hit, as Robert predicts, it will be 2016. Brace yourselves.
5. The basics 5G’s. Gold, Ground, Grain, Gasoline & Guns. These 5 basics things are Robert’s favorite. Because no matter how bad things turns, these 5 will always be needed.
Do you want me to share more?
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