RICH DAD POOR DAD SUMMARY (BY ROBERT KIYOSAKI)

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Follow in the footsteps of the rich, not the poor. This is a top 5 takeaway summary of Rich Dad Poor Dad by Robert Kiyosaki - a man who grew up learning the importance of this first-hand.
The best books for escaping your 9-5, by Robert Kiyosaki: bit.ly/31lGZNF
Top 5 Takeaways from Rich Dad Poor Dad:
0:17 1. Rich People Buy Assets, Poor People Buy Liabilities That They Think Are Assets
2:01 2. The Power of Corporations
4:19 3. Stop Focus on Your Income - Focus on Your Assets
5:20 4. Don't Diversify with Too Little Money
6:48 5. Educate in Personal Finance
TL/DW:
- Takeaway number 1 is that you must buy assets to start generating passive income every month.
- Takeaway number 2 is that a corporation is a useful vehicle to protect yourself from lawsuits and be able to pay yourself first, not the government.
- Number 3 is to start taking responsibility of your investment decisions. They are even more important than your salary.
- Advice number 4 is that you must invest in a focused manner to grow a large fortune.
- Finally, number 5 is the advice to start educating yourself in personal finance - focusing on accounting, investing and understanding the markets.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.

Опубликовано:

30 июн 2024

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Комментарии : 204

@TheSwedishInvestor 5 лет назад

The best books for escaping your 9-5, by Robert Kiyosaki: bit.ly/31lGZNF

@jamesgreen2585 5 лет назад

I guess your house can be if you start house hacking. Like renting out the rooms to pay off the mortgage....and then after its paid off, it could be a steady income stream. There is car hacking which would probably be good in cities. It just requires thought and some courage to follow through because a lot of people don't go about life and finances like this.

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@Brando_115 3 года назад

Thank you

@DW-dd4iw 3 года назад

I asked two wealthy business partners how they made their money. They started selling specialist building materials and used the profits to buy two large commercial business premises. They rented out the other unit and used the income to buy more units. HOWEVER, the real money earner was allowing smaller established businesses to use their large commercial premises for FREE (12 to 24 months) in exchange for a percentage of the company. They earn around £100k of passive income per year (each) from these deals, in addition to their own business and commercial rent. Very nice!

@francosamontepasiondeamor109 2 года назад

Thanks for sharing this. Godbless.

@momchilandonov Год назад

You make it sound simple and easy. Meanwhile properties in Manhattan NY are staying empty, because they need to charge 600$ per square foot :D :D :D.

@NathanHQ 3 года назад

Such an AMAZING book. I read this over 10 years ago and it was a big game changer. It really is the stuff that they do not teach you in school

@helpmetoreach1ksubscribers865 3 года назад

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RM6sZktDHKk.html

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@sonias9722 3 года назад

So did you get rich?

@H.I.T.E.N. 2 года назад

@@sonias9722 Well he now has his own RU-vid channel with over 132k subs, so I’d say he’s done very well for himself. His channel is excellent, go check it out.

@islandsfuldkorn 2 года назад

They don't teach you this in schools because the book gives false information. Robert either doesn't understand the difference between assets and liabilities or he doesn't want to explain what they actually mean. He redefines the terms in the book and gives the wrong impression of what assets and liabilities are.

@marshallhosel1247 2 года назад

First time viewer, enjoyed your presentation. You keep it moving along.

@giorgiberuashvili5300 3 года назад

Very helpful and informational video... Absolutely recommended 🙌

@panchasanguparakalarajan8948 2 года назад

Awesome. Nicely explained. Thanks for sharing.

@Venom69696 5 лет назад

I can’t thank you enough for all of these videos.

@TheSwedishInvestor 5 лет назад

Cheers Aadish Gautam! Glad you like them! 👍

@rayeesuraj7190 4 года назад

Good Video Summary Sir. Love the Content . And Please Make the Video On MONEY MASTER THE GAME By Tony Robbins

@sergiobravo3095 5 лет назад

Thank you for all these videos, they are really amazing!

@TheSwedishInvestor 5 лет назад

Sergio Bravo I appreciate it! 😁

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@matthewkeron1448 3 года назад

What software do you use for these vids? They are great!

@qasimsaleem1763 3 года назад

Really appreciate your videos. Good job man

@cagmito76 5 лет назад

Never thought of that comaprison before , how some can people can convince themselves they need a brand new range rover to get to work and back but then suggest investing in stocks etc can lose you money .

@TheSwedishInvestor 5 лет назад

Haha it is hilarious, isn't it? 😁

@victorc.9072 Год назад

This book changed my life. When I read it, it was like I had been blind my whole life and I could finally see.

@languageinspiration8181 Год назад

check out Money Time Coaching channel for a review like what you just described.

@thenamelessfaceless5459 3 года назад

Slowly becoming my favourite RU-vid channel. You have a BIG future.

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@greenranger3000 3 года назад

I Agree

@firejoe283 2 года назад

This has *quickly become my favorite channel lol

@ReadWithNilay 2 года назад

I had made Rich Dad Poor dad Summary in complete 3D animation (completely unique) you must see it. You will surely love the animation

@FBrapidreview 3 года назад

I read the book and found some fundamentals explained to improve finances. It is especially a good read for those who have little or no knowledge of finance and accounting. Overall a good read, thanks for the review !

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@conrankule7462 4 года назад

Beautifully summed up Thanks

@ReadWithNilay 2 года назад

Hii Conran!! I had made Rich Dad Poor dad Summary in complete 3D animation (completely unique) you must see it. You will surely love the animation

@GanpatiRam 2 года назад

Thank you brother 🌟🤗

@wisonia 5 месяцев назад

I could listen to these types of content all day, every day 😊

@Oskar-S- 16 дней назад

For someone who does not want to read a whole book, this is highly valuable!

@aprilhunter3437 4 года назад

Wonderful!

@primgee9772 4 года назад

This video is good man, but I have observed that sometimes you tend to speak faster compared to other videos. Some people could not understand you. Still a great content though!

@khisacentrine4872 Год назад

Well explained thank you for the good lesson

@berlymbb 5 лет назад

I love your Channel.. well done lad!

@TheSwedishInvestor 5 лет назад

Berlymbb thank you! 🙌

@ChrisInvests 5 лет назад

I agree, very nice presentation

@nicholasprodan4382 5 лет назад

There's this AMAZING book on Amazon called "Millionaire: Beyond Six Zeros: The Daily Grind And The True Cost Of Making Millions"... It's a Great Read..

@jackfordmac 5 лет назад

Watching this now, looks good, is that your own hand? Hope you’re good. Love from England 🏴󠁧󠁢󠁥󠁮󠁧󠁿

@TheSwedishInvestor 5 лет назад

Yes, it is my own hand 😁 Cheers man, all the best!

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@edinbrodlic4564 3 года назад

Thanks for sharing. Typically i hate anything that resembles gambling (such as stocks), but im baffled by the idea of how liablities practically mean a guaranteed loss of value of time. Something to think about

@winterheat 5 лет назад

So it seems like if we don't go into the quadrant "E" or "S", but go into "B" and "I", and it might not be recommended to invest in stocks but in real estate, so the recommendation is really to become landlords? (either small condo or house, and later on, multiple-unit rental properties?)

@ReadWithNilay 2 года назад

I had made Rich Dad Poor dad Summary in complete 3D animation (completely unique) you must see it. You will surely love the animation

@ahakabaregideon2357 5 лет назад

Very Rich and Educative Video

@TheSwedishInvestor 5 лет назад

I'm happy to hear that you enjoyed it! Thank you for your nice words 👌

@iirgendsonTyp 2 года назад

Actually a house can be a huge asset. I have a 3 units building and over 10y it paid itself, since then puts money into my pocket every month and im living for free, no rent.

@pabloorue777 Год назад

It refers to the house that you live there, that's not an investment. If you buy a house for rent, that's actually an asset.

@theWebWizrd 5 месяцев назад

@@pabloorue777 Sure the house you live in is an investment. First and foremost, it is worth a ton of money. That by itself makes it by definition an asset, in the real sense of the word (and not the made-up one used by Kiyosaki). That value of your house will change, and hopefully appreciate, depending on the economics of the housing market in your area. In particular, it should follow inflation/wage increases and be linked to interest rates and the availability of housing in the area. In this sense, owning a house makes at least as much sense as owning gold as a hedge against inflation. Secondly and directly addressing the vital flaw in the argument put forth in this video, the house you live in provide you in effect with an income stream equivalent to the expenses you would have in order to rent an equivalent home. Living in your home mean you don't have to rent. It's actually much better than that - it's tax free income, since in order to pay rent you have to spend money after tax. If you think about the economics for a minute you realize what a huge asset it is to own your own house. Logically, your landlord will rent out their property at a price that means they make a positive cash flow. That is after all the entire point of why you would buy a house for rent. It follows directly that you are paying more to your landlord than they are paying for owning the house. In other words, it should always be more economically beneficial to own a home than to rent the same home.

@BJPREZII 4 года назад

Just found this channel! Amazing Content! I love the visual summaries!

@TheSwedishInvestor 4 года назад

Cheers PREZ, I'm glad you enjoy them! 🙌

@CJinsoo 2 года назад

Great video. I have tried to crack Kiyosaki but his videos are way too long and full of tangents and rabbit holes. I see some valuable principles here, but also see what appears to me as confirmation bias and drawing conclusions from small sample sizes.

@shandell279 9 дней назад

This gentleman had me in the first minute. And the house is spot on. We're told to look at it differently.

@RicherReaders Год назад

Amazing book!

@rupanshukauldhar 3 года назад

Thankyou man

@tedeye9542 3 года назад

In this era you can't certainly say a mobile phone 📱 is a liability as it depends on the individual. To some people, the mobile phone is a great accet.

@islandsfuldkorn 2 года назад

It doesn't depend on anything. A phone is an always will be an asset. It can never be a liability, by definition.

@theWebWizrd 5 месяцев назад

@@islandsfuldkorn Yup, sadly and ironically Kiyosaki has miseducated untold masses of people as to the meaning of the term "asset", whilst at the same time touting people should learn the basics of accounting. ¯\_(ツ)_/¯

@Mikey90210 Год назад

Man I’ve been blind my whole life. I have 23k in debt that I’m paying all my extra too. Now that I see opportunity for investing I don’t even have the capital to help myself. So frustrating. But lesson learned

@jaytee0123 3 года назад

When evaluating your house (mortgage) as being an asset or liability, surely you must consider the alternative. If your choice is to live with your parents expense free vs buying a house, then sure, one might consider the mortgage a liability. But if your choice is between paying for expensive rentals vs building equity in your mortgage, then surely your home equity becomes an asset, while remaining outstanding mortgage may still be considered the liability.

@islandsfuldkorn 2 года назад

Robert Kiyosaki doesn't understand the terms he is using. He is redefining what the words "asset" and "liability" mean. Your house is an asset, and the mortgage is the liability. Assets are anything that represents some kind of value to a business or a person. Your phone, your clothes, your glasses, your computer, your oven and your home are all assets. These assets are financed either through equity (Money you own) or through loans/debt. The loans you have are the liabilities.

@Callmesi Год назад

A great book that opened my eyes and changed my thinking when it comes to money.

@guyberlivanthuijl7839 4 года назад

which books are assets and which books are liabilities? I want to gather as much knowlegde as possible that helps me to learn how people work, how companies work and how the economy works

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@iftekherahmedchowdhury2754 7 месяцев назад

Thanks

@_romeopeter 4 года назад

9:10 both cases are true. The craving/love of money can put you through pains you never wanted by doing anything(mostly evil and immoral)at all just to get it. This will lead to frustration and will make you lose yourself . The lack of money though might not cause you to do anything evil or immoral, it will affect the most important things your life thus bring about severe frustration and regrets. Avoid both!!!

@MrJOKER-qi8zu 3 года назад

bro can u pls make a summary on Influence : psycology of presuation

@Jehoofd3 2 года назад

Everybody should watch this.

@wahbamark 4 года назад

Just finished this book. Takeaways are spot on as always. You should have millions of subscribers

@kousarsaeed 3 года назад

listen this book in audio form on this channel. ru-vid.com/show-UCrtT5t37SeUG8XOBOWs0u5Q

@bth2012 2 года назад

THX

@johnrichard459 3 года назад

Luv from 🇮🇳🇮🇳🇮🇳🇮🇳

@umairahmad4711 3 года назад

Changed my life forever

@stephans1990 10 месяцев назад

Speaking as an accountant, I get really annoyed with how this books uses the term Asset/Liability. Sure, I get what he means, but why not call it "cashflow generating assets" vs "non cashflow generating assets" or something like that.

@patrickfinn7041 5 лет назад

Great job! 👍very elementary, how do beginners come over emotions?? I got a Winchester recommendation again.

@TheSwedishInvestor 5 лет назад

Haha comments about Winchester are everywhere, and most of them that I got on this channel (if not all) are from bots. They get likes and additional comments at a pace which is waaay off compared to other comments on videos of the channel.

@legm8034 4 года назад

How are you making this style of videos? Is it some Software you are using? Like I have seen this template on so many videos

@blopblobrange9344 3 года назад

Fiver

@gabiyoutubeaccount 3 года назад

Videoscribe

@sa-pt3kf 3 года назад

A house isn't an asset, but real estate is...That's some nonsense, especially considering a house can raise in price and lower monthly expenses... You're making amazing videos though and thanks a lot for the summaries!

@TheSwedishInvestor 3 года назад

Cheers s a thank you for the support and the comment! Mathematically, I agree with you, reducing one's expenses or increasing one's income both result in the same thing. However, I don't think that this is how most people approach their buying a house decision. They simply opt for the most expensive thing they can afford, whether renting or buying, and in that, it is not an investment decision.

@islandsfuldkorn 2 года назад

@@TheSwedishInvestor But aren't you aware that a house is always an asset? A house can literally by definition *never* be a liability. Only the mortgage you have for the house is a liability.

@harveypolanski755 3 года назад

He's wrong about Warren Buffet. Berkshire Hathaway is widely diversified with a large range of investments.

@MrVikingMustache Год назад

What will you category as a small portion of your yearly income, regarding focus vs diversifying as a strategic?

@goldenstandard187 2 года назад

🔥

@HONEmusicINT 2 года назад

What happens to the primary statement of "your house is not an asset" if you change the word "house" to "land"?

@vasaguy7624 4 года назад

Only thing I disagree with is your house is an asset. What’s his solution? Rent?

@sherman88 4 года назад

Agree with you. The moment your real estate puts money in your pocket, like through rental. It becomes an asset. Assuming that the rental income covers all the mortgage related expenses.

@mr.gubagub1899 3 года назад

When you live in house. You have to pay mortgages, taxes and loans etc. Which takes away the money from your pocket. That's why it's not an asset. If you buy the house without any loan and rent it out immediately then it becomes asset because it puts money in your pocket.

@pradhyumnjain3970 5 лет назад

So should I do a PhD just for getting a better job?

@TheSwedishInvestor 5 лет назад

To get some skin in the game: I wouldn't. If you decide to, you should do it for other reasons than financial ones. Like loving the subject that you're thinking of doing a PhD in while not finding any other reasonable way of earning from it.

@robc8892 5 лет назад

Some good advice and some irresponsible advice. If you don't have much cash, surely diversification is safer, assuming you value the safety of your capital more than growth. If you can afford to lose the cash by all means go for a single/few companies.

@TheSwedishInvestor 5 лет назад

Good points ex 14! It should also be considered that a small fortune is easier to replace though. If you have $1,000 in stocks and you lose them all in a bad investment, you can probably make another $1,000 quite fast. If you have $ 1,000,000 and you've accumulated it not through business or through a monstrously high salary, but though persistent saving and frugality, you might want to think about diversification. Clearly, you can't replace that money if you fail in picking that single (or those few) right stock(s).

@goldenstandard187 2 года назад

🔥🔥🔥🔥🔥🔥🐐🐐

@Hels_95 3 года назад

4:50 mixed up rich dad and poor dad

@isselmoumahfoudh9838 4 года назад

if you want to clarify the difference between assets and liabilities you should put wife in liabilities column then we all will understand 😁😁

@PeterKvrner 5 лет назад

I disagree a bit about the definition of assets in the first chapter. Buying a car may be an investment if it allows you to be more productive, but yes buying a car and leaving it in the garage will not yield any return. In any case, great summary!

@TheSwedishInvestor 5 лет назад

Agreed! What I, for instance, find to be a liability might be an investment in someone else's eyes - if we speak in a broader sense. If you include second-order effects, such as feeling great, saving time, making connections, etc. the whole concept assets and liabilities becomes quite difficult. However, Robert Kiyosaki's definition is just from a pure financial (and first-order) perspective.

@HeretikTG 5 лет назад

@@TheSwedishInvestor I think his definition is a good one but like you I think it depends on the circumstances. If you buy a house for instance and you rent it out or just the second story it would count as an asset as it would generate income without your doing or paying it self off. Same for watches or cars. I would also especially look out for rings named Draupnir ;), but that also just might be an allegory for money making money.

@Le_monarch13 4 года назад

Liabilities depreciate

@jamiequinlan 3 года назад

Although a house can be an asset, and usually is. In the UK the housing market can do a lot better than the FTSE100.

@arjunsatheesh7609 2 года назад

A house that you are not living in and thereby reducing personal rental expenses or that you are not renting out at a price above its monthly maintenance and depreciation, is clearly a liability. The land beneath the house maybe an asset if there is land. The house itself will deteriorate badly if not consistently maintained over the long-term (25 -30 years). Ultimately unless the location is good or becomes good over the 25 years of having a house, it will only lose overall value.

@jamiequinlan 2 года назад

@@arjunsatheesh7609 Laughable 😂

@arjunsatheesh7609 2 года назад

@@jamiequinlan Quite an erudite reply.

@islandsfuldkorn 2 года назад

@@arjunsatheesh7609 A house can never be a liability. Never. It is by definition an asset. Robert Kiyosaki doesn't understand the terms he is using. He is redefining what the words "asset" and "liability" means. Your house is an asset, and the mortgage is the liability. Assets are anything that represents some kind of value to a business or a person. Your phone, your clothes, your glasses, your computer, your oven and you home are all assets. These assets are financed either through equity (Money you own) or through loans/debt. The loans you have are liabilities. You shouldn't get your knowledge about finance terms from this book, cause the author Robert doesn't know the most basic terms within finance and accounting.

@arjunsatheesh7609 2 года назад

@@islandsfuldkorn You mean the definition of the word, I mean the reality, If you are not living in the house or renting it out to cover the cost; it is an expense and therefore a liability on your personal finances. The money spent on a house is safe as long as property values hold but most us alive today would have seen 2008 play out in front of our eyes. I don't want to discourage anyone from buying a house but I cannot just 'define' a house as an asset and invest in it. I am not appreciative of what Kiyosaki does or says since I see him as a book seller at best. I am just speaking from the experience of so many people around me who are actually investing in SIPs instead of houses. There is a point in a persons life when a house can be a necessity but that is closer to your retirement age. If you are working and moving around then it is best to rent. That has been my experience.

@chendilkumar1137 Год назад

Great summary , terrible distracting background music

@dewayneabner260 3 года назад

So investing in forex and buying dividend stocks is a bad idea???🤔🤔🤔

@goldenstandard187 2 года назад

No Do it Smart I Watch Someone Get Rich Off That Educate Yourself

@Ericaaaaaaaaaa 3 года назад

A *three-week* vacation?? Can't relate. I'm American.

@pepgorilla 4 года назад

Can you sum up latest Kiyosaki book "Who stole my pension"?

@benardemocu3635 3 года назад

What of if , I use my income to acquire new skill. is it a liability or an asset ?

@petarpetrov1967 3 года назад

that really depends on what you do with that skill

@islandsfuldkorn 2 года назад

The skill you have is an asset. It represents a value to a person or a business.

@robrob4608 4 года назад

any chance you can extend series with 1The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors 2The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals 3The ABCs of Property Management: What You Need to Know to Maximize Your Money Now (Rich Dad's Advisors

@MahmoudAljairoudi 5 дней назад

you saved my life EVEN THOUGH im a kid.

@pranjayarora8115 3 года назад

(1)HOUSE IS LIABILITY NEVER GIVE US MONEY UNTIL WE DIE RICH KNOW FOR SURE- I HAVE NOTHING

@donmanu001 9 месяцев назад

How to make videos like this?

@AcousticAvenueNB 3 года назад

Check out my in depth summary of Rich Dad Poor Dad here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-1K5fd6eYSXw.html

@meherbabaisgodinhumanform3090 2 года назад

👍🙌👌

@AdityaSharma-gf8zs 3 года назад

House is an asset. There I said it.

@randombanana640 3 года назад

then you are in trouble

@islandsfuldkorn 2 года назад

@@randombanana640 No he is not. A house is by definition an asset and it can never be anything but an asset. Only the mortgage you get for the house is the liability, not the house itself.

@zeipastel 2 года назад

👍

@theinvestingcollegeinvesti6132 Год назад

amazing video, sadly this book did not teach us how to invest or be wealthy actually, it is rather a chicken soup for the soul instead

@davids8536 3 года назад

Robin hood actually something else now...

@hiimchris3398 2 года назад

CHECK! 11/29/2021

@sonias9722 3 года назад

Damn those swedes

@VishnuAnilkumar1 3 года назад

I am not a big fan of Robert Kiyosaki. But the most important lesson I ever learnt in finance is from this book where it defines what an asset is and what a liability is. I dont agree with is concept of diversification. Diversification cant be classified as good or bad, but it is a way to reduce risk by reducing profit. If you can take risk, dont diversfy, if you cant then diversify, is my opinion. I dont diversify across multiple assets and I dont diverisify much when I pick individual companies but I do dversify by investing in mutual funds. The idea is the amount that I invest in hand picked companies, I have personal faith in them that it will grow. And in case I am wrong, the diversified mutual fund holdings to catch me. Its more of an insurance policy than anythiing else. Similarly, Robert Kiyosaki preaches about taking debt to buy assets. I am personally am aganst debt. Debt only has the ability to speed up, it doesnt decide the direction. If the direction you are going is up, you will go up fast and become rich. However, if the direction you are going is down, you will be bankrupt before you realiize it. Now if you cant handle the risk correctly, then you are better off not having any debt imo. For example, a personal loan in India at the time of writing is about 10%, now if you do take a loan to buy assets, you will need to make sure your assets are growing at atleast 10% CAGR to break even, if you can make such accurate predictions and survive even if your assets that you bought depreciatted in value, then you can consider taking a loan, which I consider most people cant.

@islandsfuldkorn 2 года назад

Robert Kiyosaki doesn't understand the terms he is using. He is redefining what the words "asset" and "liability" means. Your house is an asset, and the mortgage is the liability. Assets are anything that represents some kind of value to a business or a person. Your phone, your clothes, your glasses, your computer, your oven and you home are all assets. These assets are financed either through equity (Money you own) or through loans/debt. The loans you have are liabilities. You shouldn't get your knowledge about finance terms from this book, cause the author Robert doesn't know the most basic terms within finance and accounting.

@VishnuAnilkumar1 2 года назад

@@islandsfuldkorn I disagree, I am sure Robert knows the official definition of an asset or a liability. I agree he has bended/changed the definition and meaning. But it is meant for a common man, who is not educated in finance.I dont think he was trying to be financially accurate. Most people around the world collects depreciating assets using debt and then wonders where their money went. redefining what an asset and a liability is helps a common man, know what he should collect to make wealth. An another problem with the official definition is that, to most common man, he cant sell many of his assets thereby making its worth officially 0.However, This is changing with different online portals which allows individuals to sell second hand assets online.

@islandsfuldkorn 2 года назад

@@VishnuAnilkumar1 It is not about disagreeing or agreeing. I literally just referenced the exact definition of an asset. Anything that represents some kind of value to a person or a business. That is what an asset is. Robert could've just explained the difference between money making assets and depreciating assets. But it's clear he conflates these terms with assets and liabilities, thereby showcasing that he doesn't understand what the terms mean. There is no problem with the official definition. There cannot be, by definition. An asset is an asset. And the definition of an asset is and will always be an the definition of an asset. Again, the thing that you get by taking a loan and getting debt, that thing is the asset. And the loan/mortgage/debt you create in order to get that asset, that is the liability.

@VishnuAnilkumar1 2 года назад

@@islandsfuldkorn yes i know you are explaing the real meaning of asset n liability... but i disagreed with the statement that Robert doesnt understand the term. I think he understands it well but he believes his definition is better for a person who is not financially educated.

@islandsfuldkorn 2 года назад

@@VishnuAnilkumar1 Okay I can see that, you may be right. But I think the way he uses the terms does more harm than good if that's the case. Understanding what the difference between assets and liabilities are gives a proper understanding of cash flows, which are important when running a small private investment business. I don't think Robert does a good job of explaining it, when redefines the terms.

@batgerelamarsanaa6648 Год назад

Huuhdiin duu

@rizwanashabbir956 5 лет назад

allwa

@MahmoudAljairoudi 5 дней назад

i was gonna do the opposite

@stephans1990 10 месяцев назад

I didn't like the book as much, it felt more like a Tiktok motivational speaker than actual financial advise. Not everybody is better off being a business owner over a salaried worker. The vast majority of people trying to set up a large business will fail. I feel like he cherry picks success stories and makes it look like everybody can do this. He mentions investing in the real estate market at times that you could buy a house for 10K and apparently flip it for 100K in one year. Or stock picks that yielded 1000% in a matter of days. This simply isn't realistic and possible in today's day and age. iI it was at all possible 25 years ago, I feel like much of this is made up.

@theWebWizrd 5 месяцев назад

Completely agree with you! The opposition to being a salaried worker is also rather laughable when you consider what sort of salaries employees with valuable skills earn. How about the salary of Google CEO Sundar Pichai, which in 2022 was valued at $226 million for that year? Is he a sucker for being on a salary rather than having started his own business? And frankly, by far the easiest and most frictionless path to getting to own valuable assets is to be on a comfortable salary that means you can live a comfortable, happy life and have sufficient money left over to save every month. Always invest in yourself - your own skills, health, knowledge - first.

@ekkkkkeeee 3 года назад

But then you turn 40 with no skills and "a lot" of money

@mr.gubagub1899 3 года назад

People use skill to earn money so it's impossible to be 40 with no skills.

@MintVision Год назад

You can tell this guy hates the poor

@zahir2k 4 года назад

Think you should repost this with correct grammar. Doesn't match up to the standards of your more recent vids.

@TheSwedishInvestor 4 года назад

I'm glad to hear that you think the content has improved ;)

@zahir2k 4 года назад

The Swedish Investor it's great content man! I wanted to send this to a colleague so that's why I critiqued it. Have learnt alot from your channel. Much appreciated 👍🏽