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Tuesday, November 15, 2011
Failing the Kiyosaki Principal
Haha.. Told you I had just finished Kiyosaki's bestseller "Rich Dad Poor Dad".. Among its mantra is buy assets not liabilities.. And teach financial IQ to everybody including children which in this regard, if they want something, let them earn it..
Well, seems like I'm violating most of his principal.. In this case, indulging the kids desire of having a ride on car.. Heheh.. Its definitely not an asset.. So by Kiyosaki's definition I am definitely a middle class.. As I spend, but on liabilities..
Kiyosaki preaches that from your income, you must pay yourselves first by buying assets.. Then from the assets gain, then I could buy these liabilities.. So, I fail that too..
And as it seems I would be buying new sofas, beds and fridge sometime in December, I would be a major failure. More liabilities that would chip more on my income, preventing me from getting more assets and better passive income.
Hahaha.. Sorry for getting so much on the financial.. But worry not, still got something up my sleeves to placate Kiyosaki ;)