Quotes About Finance

The Worldly Philosophers by Robert Heilbroner. For people who want to operate on the B and I side, his book is a must-read, for it traces the greatest economists of all time, starting with Adam Smith who wrote The Wealth of Nations.

Today, savers are the biggest losers. Since 1971, the U.S. dollar has lost 95 percent of its value when compared to gold. It will not take another 40 years to lose its remaining 5 percent.

Rich Dad Lesson: "Savers are losers.

To get on the financial Fast Track, become an expert at solving a certain type of problem. Do not diversify like Type-B investors are advised to do. Become an expert at solving one type of problem, and people will come to you with money to invest.

History proves that 85 percent of all options expire without being exercised.

You mean most workers don't get paid everything?" I asked with amazement. "Heavens no!" said rich dad. "The government always takes its share first." "How do they do that?" I asked. "Taxes," said rich dad. "You're taxed when you earn. You're taxed when you spend. You're taxed when you save. You're taxed when you die.

An asset puts money in my pocket. A liability takes money out of my pocket.

Rich Dad Lesson: "Your house is not an asset.

And I've never met someone rich who has never lost money.

Because it was the income he had to work the least for, it is often the least taxed

which type of money to work hard for.

Robert T. Kiyosaki

The previous chapter presented diagrams illustrating that most people work for everyone but themselves. They work first for the owners of the company, then for the government through taxes, and finally for the bank that owns their mortgage.

To become financially secure, a person needs to mind their own business. Your business revolves around your asset column, not your income column. As stated earlier, the number-one rule is to know the difference between an asset and a liability, and to buy assets. The rich focus on their asset columns, while everyone else focuses on their income statements.

Robert T. Kiyosaki

the poor and middle class invest in mutual funds and the rich invest in hedge funds.

bought a bigger house for the tax breaks that he never really got.

When you get a raise, so does the government.

Robert holds a small portion of his assets in tax-lien certificates instead of CDs. Others tell him he shouldn't do this, but they're coming from a place of doubt. They've never done it, and they're telling someone who's doing it why they shouldn't. The lowest yield Robert looks for is 16 percent, but people who are filled with doubt are willing to accept a far lower return. Doubt is expensive.

A person afraid of missing out on a market move up will pay for an option.

Other people pay for my liabilities. They're called tenants.

Keep in mind that it's not the asset class that makes a person rich or poor. For example, when a person asks, Is real estate is a good investment? I reply, I don't know. Are you a good investor? Or if they ask, Are stocks a good investment? again my answer is the same, I don't know. Are you a good investor?

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La gente rica adquiere activos. Los pobres y la clase media adquieren pasivos a los que consideran activos.