Rich Dad's Guide to Investing

(My Original Blog Post: http://ping.fm/huvKo)
I am listening to the 2 cassette audio set named: Guide to Investing: What the rich invest in, that the poor and middle class do not!

This is a very important tape to listen to, I have listened to almost everything that Robert Kiyosaki has come out with.  Some of the important topics that are discussed are different entity types such as C corporation, S Corporation, Sole proprietorship, LLC, LLP, and which one is best for most people based on asset protection and tax advantages and disadvantages as well as flexibility.  There is a lot talked about what a liability is (something that takes money out of your pocket) vs. what an asset is (something that puts money into your pocket) , where someone's own home is often thought of as an asset, but it takes money out of your pocket, therefore should reflect that on your balance sheet.  One of the most important concepts you can learn from this audio is the different types of money such as passive income, earned income, etc and how it's taxed.  It's explained that most of the big and easiest money you make can be taxed at a much lower rate than the hard earned money at a high tax bracket.

You will get to hear the story of Robert Kiyosaki from how he started in Nylon wallets, to how he has learned lessons in life about money and business. You will get to see how he evolved into real estate based on the lessons.   It's said you should focus on building your own business instead of getting a second job, and the reason is that the second job is earned income at a higher tax rate, where as with your business you can get taxed differently.  The tape talks about how much you can learn from starting your own business.  The second tape gets into opening a public company and going public and getting others to invest you in you.  It talks about working on a business concept based on demand what is needed in the future.  They talk about raising money when you try to make your company go public.  They talk a lot about how it's now the information age and how to take advantage of that and use it to your advantage.  There is talk about joining a network marketing company when you decide to start your own company. There is talk about how the rich have their assets working for them, and a lot of talk about control of assets.  I would recommend listening to this tape set.

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