Kiyosaki’s Definition of Wealth
Shauwn explains Robert Kiyosaki’s “definition of wealth” from his famous book “Rich Dad, Poor Dad.”
Most people think that wealth is a big pile of money, but Robert Kiyosaki says that this way of thinking has nothing to do with wealth.
Passive Income
Quit your job today, and how long could you live on passive income? Passive income is defined as interest from checking/savings accounts, dividends from stocks (not capital appreciation), cashflow from real estate…
These sources of income give you realized cash on a consistent basis and are relatively easy to maintain once you set them up.
Most people could only live a few hours on their passive income.. maybe a $100 or so or more.
Private Lending
Using this definition of wealth, you could go out and create a private loan to a real estate investor and begin making $500, $700, $1000 a month almost immediately.
Once you’ve created enough passive income to exceed your living expenses, you are independently wealthy.
According to Kiyosaki, you may have done more to retire yourself than you had in your entire working career!
