How To Get Rich. The student's guide to financial literacy. How to Be Rich. Baby Tips for Dads. Guide to Financial Management Economist Hardcover. Guide to Financial Management The Economist. The Student's Guide to Financial Literacy. Teen Guide to Personal Financial Management. Her Two Dads. The Invisible World Financial freedom and privacy. Where are you currently in the Cashflow Quadrant? Therefore, to earn money, people in these quadrants must actively work, which is why these two quadrants require a lot of time and effort before one can become rich.
They usually go to the office everyday, work at least 40 hours in a week, and depend on monthly salary as their primary source of income.
Do you currently consider yourself an Employee? Majority of people around the world are, without a doubt, employees. There are, of course, perks and benefits of being an employee.
You receive a steady paycheck, subsidized or free healthcare or health insurance, a retirement plan paid for by your company, bonuses, among others. Although becoming an employee is not bad per se, Employees solely rely on effort and time to make a lot of money.
That is, to earn more, you need to work more and spend more time doing work. This means you have no control over your time and ultimately, your life. This is not what financial freedom is all about. Think about that. If your goal is to retire early in order to enjoy life, this might be a difficult thing to achieve as an employee since you will have to work longer and harder in order to earn a lot of money.
Did you know that, compared to the three other quadrants, Employees pay the highest tax rate? These taxes are also automatically withheld by your employer and remitted to the government, which means you do not even get to see this money. Businesses in the Philippines do pay somewhat similar income tax rates, but they are allowed to deduct a lot of expenses that could bring down the amount of income taxes they pay to the government.
Armed with intelligent lawyers and creative accountants, companies in the Philippines sometimes end up paying very low income tax rates. Most Self-employeds do make a lot of money but, like the Employees , their income is directly tied to how much they work. The moment they take a vacation or stop working, for example, they practically earn nothing.
Unlike Employees who typically work 40 hours a week in an 8-to-5 job , Self-employed individuals sometimes even work more than 40 hours a week.
Lawyers, accountants, consultants, etc. YouTubers, although they work at their own pace and time, spend countless hours shooting and editing a video just to come up with one video upload.
The Bureau of Internal Revenues BIR , however, reminds professionals, freelancers, and self-employed to register and pay correct taxes. People in the E and S quadrants solely rely on their time to make money, and since their time is limited, their earning potential is also limited. In the B and I quadrants, income is not directly proportional to the time, effort, and money spent.
Thus, one can make a lot of money in the B and I quadrants and, ultimately, achieve financial independence without having to work hard anymore. The B and I quadrants are explained below. They set up a way that makes money for them even if they do not spend a lot of time in the business. This special just-for-teens edition builds a foundation of self-confidence from which readers can realize their dreams of financial security in an increasingly challenging and unreliable job market.
Teen-friendly advice, examples, sidebars and straight talk will supplement all of Rich Dad's core advice: Work to learn, not to earn.
Don't say "I can't afford it"--Instead, say "How can I afford it' " And don't work for money - make money work for you!
No matter how confident or "good in school". Collects the first three installments of the best-selling series in a boxed set that includes Rich Dad Poor Dad, Rich Dad's Cashflow Quadrant, and Rich Dad's Guide to Investing, in a compendium that covers such topics as the financial management secrets of the wealthy class and effective ways to raise money.
Many people have million-dollar ideas. In other words, the people around us--our associates, our team, our friends. The people we. It's Robert Kiyosaki's position that "It is our educational system that causes the gap between the rich and everyone else. In this book, the reader will learn why the gap between the rich and everyone else grows wider.
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