From 'Rich Dad's Cashflow Quadrant Book' :
- "The average person is 95 percent eyes and only 5 percent mind when they invest," said rich dad. "If you want to become a professional in the B and I quadrants, you need to train your eyes to be only 5 percent and train your mind to see the other 95 percent."
- "If money is not first in your head, it won't stick to your hands."
- "Investing is not risky. Being uneducated is risky." Investing is much like flying. If you've been to flight school and spent a number of years gaining experience, then flying is fun and exciting.
- "Your profit is made when you buy, Not when you sell." (On real estate)
- AN E - Works for the system
AN S - Is the system
A B - Creates, owns and/or controls the system
AN I - Invests money into the system
- Passion builds businesses, not fear
- Winston Churchill once said - "Personally, I am always ready to learn, although I do not always like being taught."
- (Left side of the quadrant) - 'Play it safe, Don't take risks'
(Right side of the quadrant) - 'Play it smart, Learn to manage risk'
- "To be successful as an investor or a business owner, you have to emotionally neutral to winning and losing. Winning and losing are just part of the game."
- 'Failure is part of the process of success"
- The process is much like learning to ride a bicycle. At first you fall down a lot. Often times it is frustrating and embarrassing, especially if your friends are watching. But after a while, the falling stops and riding becomes automatic. (Moving from one quadrant to another)
- "Giants often trip and fall, But worms don't, because All they do is dig and crawl."
- 'Security' rather than 'Freedom'
'Avoid risk' rather than 'Learn to manage risk'
'Play it safe' rather than 'Play it smart'
'I can't afford it' rather than 'How can i afford it'
'It's too expensive' rather than 'What is it worth long-term?'
'Diversify' rather than 'Focus'
'What will my friends think?' rather than 'What do i think?'
- It's as easy as buying four green houses for low prices, waiting until the market improves, selling them, and then buying a big red hotel. Life really is a game of Monopoly
- Economies change, but history repeats.
- Historically, if people live to the age of 75 they live through two recessions and one depression.
- "Build a business, and buy real estate."
- Ray Kroc, founder of McDonald's: "My business is not hamburgers. My business is real estate."
"How do you eat an elephant?" The answer is, "One bite at a time" (How to become a successful B and I)
- That is why action always beats inaction. If you take action and make a mistake, at least you have learned something, be it mentally, emotionally or physically.
- "Don't work hard, Work smart."
- In my opinion, games are a superior teaching tool because they require the player to become fully engaged in the learning process while having fun. Playing a game involves a person mentally, emotionally, and physically.
- "For every liability you have, you are somebody else's asset." (a mortgage is a liability but it also is the banks asset)
- That is why he loved rental properties. He encouraged me to buy rental real estate because 'the bank gives you the loan, but your tenant pays for it."
- "The direction of cash flow is everything."
- "Instead of living below your means, focus on expanding your means."
- "Professionals have coaches. Amateurs do not."
- Rich dad told me, "When people are lame, they love to blame."
- "The reason there are few self-made rich people is because few people can tolerate disappointment. Instead of learning to face disappointment, they spend their lives avoiding it."
- "Many people will not head down the street until all the lights are green. That is why they don't go anywhere."
- Never run from what you know you need to learn!
- Begin building pipelines of cash flow to support you and your family
- Your boss's job is to give you a job. It's your job to make yourself rich.
