Rich Dad's Cashflow Quadrant: Guide to Financial Freedom by Robert Kiyosaki (Book Discussion)

Post below a chapter you would like to discuss and share the lessons learned.

 

[Chebet]

My lessons from the cashflow quadrant.

1. Living below my means is not enough. I am challenging myself to look for other sources of income apart from my salary so as to expand my means.
2. On my road to B & I quadrants, baby steps are key. I need to run a business (still working on this).The lessons learnt from it will be invaluable to being a successful B & I.
3. I am intentional on how I spend my time. I have been reading a lot on self improvement.
4. I am more careful about debt. I have been holding off taking on debt until I am clear that I will be spending it on assets only.

 

[kengeh]

One thing that stands out among millionairres is frugality and delayed gratification

 

[Hamisi]

We rarely get to hear Warren Buffet. This short video shows how little people know about some influential people in society.

 

[Zamila Japheth]

Thank you for starting this discussion thread.
From cash flow quadrant this spoke so well to me I am transitioning from employment to business. One thing I want to take time to do is setting systems so that I can operate a business on the right side (B)and not a self employed (S)

 

[Mercy]

The lessons spelt out in the cashflow quadrant begin earnestly from the richest man in babyloan we draw well lessons from how we should make our money work for us to the we moving from one side of the quadrant to the other through this we eliminate bad debts and our savings grow well .
Good day personal finance growers and may ur day be nurtured in well versed financial growth

 

[Sarah Kalonje]

The following are some of the lessons I have picked from the cashflow quadrant.
1. I should control the direction of my cashflow.
2. Changing quadrants is a life changing experience which leads to change in self and friends.
3. No matter how much I earn I should put some portion in the I quadrant where money works for me.
4. I should pursue financial education in order to succeed in the B and I quadrants.
5. Make disappointment your strength. Inside lies a priceless gem of wisdom.

 

[dewy]

The following are some of the lessons I have picked from the cashflow quadrant.
1. I should control the direction of my cashflow.
2. Changing quadrants is a life changing experience which leads to change in self and friends.
3. No matter how much I earn I should put some portion in the I quadrant where money works for me.
4. I should pursue financial education in order to succeed in the B and I quadrants.
5. Make disappointment your strength. Inside lies a priceless gem of wisdom.

Point 1..cashflow is king...nice piece

 

[Takawira]

Thanks for the thread. Lets grow in financial knowledge together

 

[lalit_sarathy]

The following are some of the lessons I have picked from the cashflow quadrant.
1. I should control the direction of my cashflow.
2. Changing quadrants is a life changing experience which leads to change in self and friends.
3. No matter how much I earn I should put some portion in the I quadrant where money works for me.
4. I should pursue financial education in order to succeed in the B and I quadrants.
5. Make disappointment your strength. Inside lies a priceless gem of wisdom.

This summarises the book for me too. I also took one of the action points of calling property on sale and asking relevant questions. It's eyeopening.... putting what you learn to practice.

 

[Magda Teza]

Im thinking... in cashflow quadrat, i dont remember coming across things like insurance.... especially life and education. Can such be referred to as investments or are they merely another low risk means of stacking your cash influenced by fear of the unknown. Im really rethinking an education policy i purchased an year ago...

 

[Bilan]

Im thinking... in cashflow quadrat, i dont remember coming across things like insurance.... especially life and education. Can such be referred to as investments or are they merely another low risk means of stacking your cash influenced by fear of the unknown. Im really rethinking an education policy i purchased an year ago...

Insurance is not an investment, it is a method of managing risk.

 

[doug]

What is federal taxes?

 

[fidel]

What is federal taxes?

Think about them like the KRA taxes, since the book is American, the terminology is American. But generally Americans pay federal taxes to the national government in addition to state taxes