Work Smarter, Not Harder
Robert Kiyosaki, leading financial expert, says “If you want to be rich, working hard and saving money will probably not get you there.”
Working hard and saving money is what we are told to do, but Robert Kiyosaki is saying this is not going to make you rich. There should be nothing wrong with saving or working hard so why is he against this ?
He further goes on to explain how the harder and longer you work, the more you lose in taxes because you are taxed based on your income. Saving all your money is not advisable either because he inflation causes savings to lose value over time. So in a nutshell you are working very hard for money that is losing value faster than it is gaining in interest.
If working hard is not the best path to financial freedom then what is ?
– I did some research and I found the hardest thing that will work for you is your own MONEY. In my opinion you shouldn’t be working harder than your money. Though you can work hard at a job over the course of many years, nothing can work harder and give you better returns than money itself. This is because money works to attract money through investments, acquiring assets, and entrepreneurship.
The best way to let your money work hard for you is by educating yourself on how to recognize good investments and business opportunities.
Did You Know:
If you kept $100,000 in your savings account and didn’t touch it for 40 years, your money would probably be worth a quarter of its present value after 40 years ?
According to Jason Kelly’s book on Stock Market Investing, if you had invested $10,000 into Walmart stocks in 1974 it would be worth 29.5 million by the end of 2008.
Today, if you invest $5000 dollars into any stock that can get you a 15% return yearly for 33 years. After 33 years, you should have $500,000. Yes, this is a valid statement, the secret is to start early and leave the money to compound annually.
Learn to focus on increasing the amount of money that comes into your pocket, that is ultimately your key to financial freedom. You achieve financial freedom when you are making more money than you spend – that simple !
Most of us were brought up to believe a job with a good hourly rate is the key to financial independence. That is a good start, but not the best path to financial security. You have to allow your money to work for you by learning to invest wisely.
Many people are losing money because they failed to educate themselves; they handed their retirements to others to invest as they sat by and watched it over the course of many years. To me that is a gamble. Follow the advice taught to us from childhood, if you want something done right, do it yourself !
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