According to rich dad, there are few bad investments that you should cut
Bad Investments
- world's tour by cutting your job
- divorce loyal wife for young girl
- buy expensive car
Increase expense decrease income??
Means, u have to invest everything you have. Profit has to be reinvested so that no tax cuts.
Good Investment
- books and seminars those make you knowledgeable
- hire employee so that they does monotonous job and you get free time to do meaning full work
- knowledge compounds with time
- invest in your self as much as you can - on knowledge
3E
Acquire Three E
- Education - financial knowledge
- investment without knowledge is gambling
- know how to read companies financial statement p0account - this can be turning point in your career
- excess cash : don't keep
Investing is not risky : Be an inside investor Never sell stock : Buy only the ones you think is your own company