Mega-Millionaire Exposes Kiyosaki's CRAZY Money Hack

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[-Cross_]

So get a job first? Stop overcomplicating it by saying “start by using time for money” just say get a job first

[riq]

Nice, now I know absolutely nothing more than before

[dreamshots_PIB]

What they really mean: "buy" or pay off an asset like a house, you don't even have to fully pay off the mortgage, then ask the bank for a credit/loan, the credit then will pay off the rolls royce, but the bank needs something for security, so you give them your asset/house. The bank then has the house, BUT since it's still yours, you can rent it out to someone, which will generate passive income for you. And that passive income is what finally pays off the credit and therefore, the rolls royce.
After paying off the credit, you can go 2 ways. Either keep it all, like having the house and the car the stop, or, since it's most likely that the bank asks you if you want another credit/loan with a much better interest rate since you showed them that it's worth it to work with you, so you could get that credit and put the car as security. Then, you can simply pay off another mortgage for another house… and then, after this is finished, you could get another car… you see ? Once you made the first steps, it becomes a cycle which gives you the opportunity to literally print money

[clarkvaughan]

"My wife says buy the asset first." That way she could take it from you when she eventually left you.

[genericixtyive]

Who else watches all of these finance videos and has absolutely no idea what any of them mean

[Maisys]

Him: My wife says you can have anything you want

Also Him: i want debt

[Fqlujulp]

That 3rd clip is the visual representation of the word perplexed😂

[peepsdtw]

Money comes from nowhere huh? I gotta go to work.

[iamdavis]

It works like this. Work for a job and make money. Use that money to invest into something that continues to spin off cash without you having to actively work. Then scale it up. I do this with dividends and options. Each month it grows.

[IOSALive]

Moore Money Secrets, Subscribed because your videos always make me smile!

[ChazzItUp]

I'd love to see all of these people who think they're the world because of their millions and how they earned it, when someday all that money is worth exactly nothing

[omentheboss]

You can also source financing to purchase a cash-flowing asset.

[StarmersStasi]

Most people do not have the spare cash to acquire extra assets.

[yo.d.s.]

Letting properties stand derelict forever and decay causing properties round it to loose value. Nice trick

[mcgusto]

If you want to know how to start, maybe read his first book.
He talks about how he started.

[Yesman]

All you do is

You get a job as a salesperson at a company. You understand how the whole process works from generating sale cold right through to closing deal and delivery with excellent after care service.

You then do this for two years then move into a management role so you learn how to manage and motivate

You then either obtain equity by taking a leadership role OR you start your own and build it

Sure you’ve been an employee for 3-5 years but you then move into owner position then into investor.

Most people at the point of having learned their trade and want to start up, go into contracting and that’s there they make a mistake. If they moved into owner position or equity and have a plan for scale, they can then move into investor position quicker.

[MatthewCallahan-gbik]

I worked for a long time and set aside a portion of my earned income and built my first home. Nothing fancy but I learned that I can borrow on the value its appraised for to buy other assets. It can be done you just have to think inside the box as we as outside..

[arcadan]

“Buy the asset” you forgot to mention that assets are rare and consequently expensive

[SeanJohns-zeie]

that’s why financial literacy is really paramount, sadly you can't learn any of this in schools, you have to either learn frrom media or through books, one still has to be aware of the basic principles that govern these things in order to avoid obvious pitfalls.

[markLevi]

What would that first asset be?
How much would it appreciate?
What kind of cash flow would it bring?
I suppose it would be impossible to stop working once you have one asset that is cash flowing .
So you will have to continue working a job. Looking to save enough to have another asset. And then another. How many years will that take eventually to be financially free?
Is there a calculation for that?