I am rather influenced by ideas written in Rich Dad Poor Dad (RDPD), a book by Robert Kiyosaki. The book changed my path in life, teaching me to build financial wealth by buying assets and avoiding liabilities.
Learning from RDPD
RDPD teaches that the poor and middle class has few income streams. They pay off expenses with earned income. If work stops, so does the cash.
And very often, they worsen the balance by buying liabilities. With few assets , the worker is trapped on the hamster wheel, unable to stop because of debt.
The rich do it differently, by building up multiple income streams. They buy assets, and the returns from the assets are used to pay for expenses and buy more assets. It is a cycle and with time, the assets are able to pay for everything.
And this is how the …