![]() ![]() Being a B has a lot of ups and downs and he stated a few guidelines to achieving the dream of being a B get a mentor, buy a franchise, go into network marketing etc. He continued to mention about how his three business failed and how that experience moulded him into being who he is today. He went further to tell us about how success is a poor teacher, how failure leads to experience to not make the same mistake(s) until we finally achieve our goal. Robert started chapter four to tell us about the kinds of business systems. He continued to say that investing is the best plan for financial freedom but not without the necessary education which is not found in school, “the path to financial freedom is on the right side of the quadrant,” he said. He went further on how taxes, how it is only the poor people in E and S quadrant pay taxes or if or when the rich pays it is minute as compared to the people in E quadrant because of how their income is made. He went further in chapter three about people in E and S quadrant he said, their word is security and how they run away from risk, but he further explained that this isn’t their fault but what they have instilled in them since childhood, “Go to college, get good grades and find a secure job.” He said if at all people in S quadrant decides to start a business they usually fail and also how the statistics is not in their favour. He talked a great deal about investing and how it is defined by the risk in it and how pension is greatly exaggerated and being watered down by government and agencies alike. Robert stated the difference between the rich and everyone else, he stated that they receive 70% of their (the rich) income from investment and less than 30% from wages while reverse is the case for the poor. He said Cashflow Quadrant is not a set of rules but a guide to those who wish to follow it. ![]() In chapter two, he maintained that even though each of the quadrants have their own advantages and disadvantages, none is above the other. He said his experience made him lean towards the B and I section of the quadrants. He continued to mention his two fathers’ ideas about money how they shaped his own mentality and also his core identity. Regardless of what we do, we can still be in any of the four quadrants. Whichever we choose does not depend in what we learn in school whatsoever but who we are at the core. He said, it is up to one to know the quadrants which suits one. He explained further that it doesn’t take money to make money and further reiterated that was a false and wrong opinion of people. Robert said, it took dream, determination and willingness to achieve his financial freedom. He continued to mention that by 1989 they became millionaires and in 1994 they achieved financial freedom, he was 47 while his wife was 37. While staying with a friend they devised plans become rich and never fear of being broke again even when they do not work. You can keep your boardrooms, private jets and oilfields, thank you.Robert started with his background on how he became broke, homeless in 1985 and why getting a job wasn’t going to solve his problem but did a few odd jobs along with his wife Kim, to get by. For me, I just want to be financially free to live a simple life. It might suit ambitious, ruthless, executive types whose only ambition in life is to earn a lot of money for money's sake without a care as to who or what it hurts, or the environmental consequences. Most of the assumptions about income, tax, benefits, political situation. I'm going to stop now, it's wasting my time - I've work to do! Part of the problem I have with the book is that it's primarily geared towards Americans. The author thinks that to be self-employed is worthless and somewhat pathetic, unless you have a business employing at least 500 people. It might or might not be possible to reach such 'heights'. I have never aspired to that level of wheeler-dealing, and I would rather die than be that kind of person. But after listening to this book I realise I honestly, truly do not want to be 'rich', in the sense the author means. Yes, I would like to be more financially secure. ![]() The world described in this book - a world the author believes everyone should aspire to - is not a world I wish to live in. ![]()
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