A Lesson from Robert Kiyosaki
Introduction
Robert Kiyosaki is a renowned American businessman, investor, and author of the popular book "Rich Dad Poor Dad." He is known for his unconventional views on money and wealth creation. One of his most famous quotes is, "Only lazy people use their own money." In this article, we will explore what he means by this statement and how it can change your mindset towards money.
The Childhood Experience That Inspired Kiyosaki's Philosophy
Kiyosaki's perspective on money was largely influenced by his childhood experiences. He had two fathers - his biological father, whom he calls "Poor Dad," and his friend's father, whom he calls "Rich Dad." Poor Dad had a Ph.D. and a high-paying job but struggled financially, while Rich Dad was a successful entrepreneur who never finished high school.
Kiyosaki recalls a conversation with his Poor Dad, who told him that he would be a rich man if he didn't have kids. This statement angered Kiyosaki, who believed that his father's financial struggles were not his fault. Rich Dad, on the other hand, taught Kiyosaki the importance of financial education and creating assets that generate passive income.
The Number One Phrase That Keeps People Poor
According to Kiyosaki, the number one phrase that keeps people poor is "I can't afford it." He believes that this statement is a reflection of a person's mindset towards money. Instead of saying, "I can't afford it," Kiyosaki advises people to ask themselves, "How can I afford it?" This simple change in mindset can open up new possibilities and lead to creative solutions.
Lazy People Use Their Own Money
Kiyosaki's statement, "Only lazy people use their own money," may sound controversial, but it has a deeper meaning. He believes that using your own money limits your potential to create wealth because you are limited by your own resources. Raising capital requires creativity and intelligence, which are not always necessary when using your own money.
Kiyosaki emphasizes the importance of using other people's money (OPM) to invest in assets that generate passive income. This strategy allows you to leverage your resources and create wealth without risking your own capital. However, he also warns that using OPM comes with risks, and it's crucial to do your due diligence before investing.
How Kiyosaki Raised Capital
Kiyosaki has raised hundreds of millions of dollars throughout his career, and he attributes his success to his ability to raise capital. He advises people to find an asset that is worth more than themselves and use OPM to invest in it. For example, Kiyosaki's first deal was an $18,000 condo that he purchased with 100% debt. He assured his investors that he would pay them back and was able to secure funding without using his own money.
Kiyosaki also emphasizes the importance of having an open mindset toward money. He believes that anyone can become wealthy if they are willing to learn and take risks. In fact, he shares a story about his : a nylon and velcro surfer wallet business business that he invested in. The business failed, and Kiyosaki had to borrow money from his investors. However, he learned from his mistake and went on to become a successful investor.
Conclusion
Robert Kiyosaki's philosophy on money and wealth creation is unconventional, but it has inspired millions of people worldwide. His statement, "Only lazy people use their own money," is a reminder that we should always be looking for ways to leverage our resources and create wealth. By having an open mindset and using OPM to invest in assets that generate passive income, we can