Who Wants to be a Millionaire?
Nearly everyone says they want to be a Millionaire but very few can tell you what a millionaire is? They usually say it is someone who has a million dollars, pounds or euros in the Bank. Unfortunately that is wrong because the minute they spend any of their million, they are no longer a millionaire?
The correct answer is someone who owns a million £,$,E worth of income earning assets.
In today’s world that would earn them approximately 50,000 £,$,E per year on which they would have to pay tax. It looks like barely enough to bring up a family and unlikely to pay for a luxury lifestyle even for one person It would be better to go for being a Multi Millionaire!
Have you heard of Robert Kiyosaki?
He is an All-American boy of Japanese descent, and also a self made multi Millionaire. He launched himself as a Financial Guru for the common woman or man in the mid nineties. He shocked the financial world with his radical ideas about personal and family finances.
Among his ideas that shocked me was the one that the house you are struggling to pay a mortgage on may actually be an obstacle to becoming wealthy. Today his thinking is much more widely accepted and applied by many people who have become independently wealthy.
However do not be misled to think Kiyosaki’s ideas enable you to step outside financial realities, I need to tell you that the principles explained earlier in this section need to be followed to enable you to apply his ideas.
He has contributed to this revolution in financial thinking by his many books and his board game called Cashflow. Even if you feel this level of financial management is a distant prospect, you can start your journey towards it by reading his first book called Rich Dad Poor Dad. You can read the introduction to it here.
April of 2022 marks a 25-year milestone for the personal finance classic Rich Dad Poor Dad that still ranks as the #1 Personal Finance book of all time. And although 25 years have passed since Rich Dad Poor Dad was first published, readers will find that very little in the book itself has changed — and for good reason. While so much in our world is changing a high speed, the lessons about money and the principles of Rich Dad Poor Dad haven’t changed. Today, as money continues to play a key role in our daily lives, the messages in Robert Kiyosaki’s international bestseller are more timely and more important than ever.
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