- Book Title: Who Took my Money? Why Slow investors lose and fast money wins!
- Author: Robert Kiyosaki
- Year written/published: 2004
- Book Source: Google Books, Library
- Some extracts:
Some annual paychecks of CEO from financial institutions… interesting!
- Morgan Stanley - $11m
- Goldman Sachs - $12.1m
- Lehman Brothers - $12.5m
- Bear Stearns - $19.6m
cattle rancher and the dairy farmer
Capital Gains vs Cash Flow Simply put, a cattle rancher can be compared to a person who invests for capital gains. a dairy farmer is more like an investor who invests for cash flow. One of the reasons so many people lose so much money investing or think investing is risky is because they invest like ranchers. They invest to slaughter rather than to milk.
rich people are evil or greedy?
In 2003, Ray Kroc’s wife, Joan passed away. The business they built has spread across the world, provided millions of jobs and has made many people rich. More than rich, Joan Kroc was known for her generosity. It is estimated that she donated billions of dollars to worthy causes and charity. When i hear people say rich are evil and greedy, I often ask them to read the story of McDonalds.
- cash flow vs capital gains
- dairy farmer vs cattle rancher
- cash in my pocket every month vs cash in my pocket when i sell
- system vs single transaction
- pipeline vs buckets
the cashflow quadrant…
- E-S vs B-I
- Individual vs Team
- You working vs Other people’s money and time
- You working vs system working for you
- school prepares you vs experience teaches you
- benefits are important vs return on investments is important
what investors do…