what you Know about Money $$

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what you Know about Money $$

  1. 1. What you Know about Money $$$ Presented by Ali Al-Qahtani Qahtani6
  2. 2. <ul><li>The Wealthy Teach Their Kids About Money. </li></ul><ul><li>The Poor And Middle Class Don’t. </li></ul>
  3. 3. <ul><li>“ If your reason for becoming rich is to look rich, you will never become rich.” </li></ul><ul><li>We’re being taught to be “Good Employees.” </li></ul><ul><ul><li>Go to school </li></ul></ul><ul><ul><li>Get good grades </li></ul></ul><ul><ul><li>Get a good “JOB” </li></ul></ul><ul><ul><li>Work hard </li></ul></ul><ul><ul><li>Maintain good credit </li></ul></ul><ul><ul><li>So we can consume lots of stuff . </li></ul></ul>
  4. 6. JOB
  5. 7. Financial Intelligence <ul><li>Making more money will not solve your problem if money management is your problem. </li></ul>
  6. 8. It is not your boss’ job to make you wealthy or secure. It’s her job to give you a paycheck . . . nothing more .
  7. 9. <ul><li>Money is a drug </li></ul>
  8. 10. Financial Intelligence <ul><li>Money pushes you around. You will obey money. </li></ul><ul><ul><li>- Employers/Bosses </li></ul></ul><ul><ul><li>- Bill collectors </li></ul></ul><ul><ul><li>- Tax collectors </li></ul></ul><ul><ul><li>- Family and friends </li></ul></ul><ul><li>Can you push back? </li></ul><ul><li>Are you smarter than your money? </li></ul><ul><li>Answer: Do you work for money, or does money work for you? </li></ul>
  9. 11. Financial Intelligence <ul><li>When money works for you, </li></ul><ul><li>Passive Income: Interest, real estate income, Salary, </li></ul><ul><li>Your money can work for you or it most certainly will work for someone else. </li></ul><ul><li>The key is “What investments do you own that will bring you passive income?” </li></ul>
  10. 12. Financial Intelligence Rich Dad. Poor Dad’s Basic Philosophy <ul><li>Know the difference between an ASSET and a LIABILITY , and only buy assets . </li></ul><ul><ul><li>A True Asset gives a positive cash flow each and every month. </li></ul></ul><ul><li>Make your PASSIVE INCOME cover your Lifestyle Expenses forever. </li></ul>
  11. 13. Financial Education <ul><li>Two key personal and business financial statements we all must be able to read. </li></ul><ul><ul><li>- The Income Statement shows the amount of money coming in and going out. </li></ul></ul><ul><ul><li>- The Balance Sheet shows the balance of what you own and what you owe. </li></ul></ul>
  12. 14. Financial Education Income Statement Balance Sheet Income Expenses (Payments) Assets (Own) Liabilities (Debts)
  13. 15. Financial Education Income Statement Balance Sheet Income Expenses (Payments) Assets (Own) Liabilities (Debts) Paycheck, dividends, interest, rents, royalties, profits, advances
  14. 16. Financial Literacy (continued) Income Statement Balance Sheet Income Expenses (Payments) Assets (Own) Liabilities (Debts) Taxes, mortgage/rent, cards, car, food, fun, rent, clothes, child care, insurance, medical Paycheck, dividends, interest, rents, royalties, profits, advances
  15. 17. Financial Education Income Statement Balance Sheet Income Expenses (Payments) Assets (Own) Liabilities (Debts) Taxes, mortgage/rent, cards, car, food, fun, rent, clothes, child care, insurance, medical Paycheck, dividends, interest, rents, royalties, profits, advances Mortgage, car loan, credit cards, school loans
  16. 18. Income Statement Balance Sheet Income Expenses (Payments) Assets (Own) Liabilities (Debt) Taxes, mortgage/rent, cards, car, food, fun, rent, clothes, child care, insurance, medical Paycheck, dividends, interest, rents, royalties, profits, advances Mortgage, car loan, credit cards, school loans Stocks, bonds, notes, real estate, business, intellectual property Financial Education
  17. 19. How The Poor Live They only have small incomes and small expenses Income Statement Balance Sheet Income Expenses Assets = Zero Liabilities = Zero
  18. 20. How The Poor Live They only have small incomes and small expenses Income Statement Balance Sheet Income Expenses Assets = Zero Liabilities = Zero $ The Wealthy
  19. 21. How The Middle Class Live They buy expenses and liabilities they think are assets Income Statement Balance Sheet Income Expenses Assets Liabilities Assets
  20. 22. How The Middle Class Live They buy expenses and liabilities they think are assets Income Statement Balance Sheet Income Expenses Assets Liabilities Assets $ The Wealthy
  21. 23. How The Wealthy Live They take the income of the poor and middle class, and buy assets that produce more income Income Statement Balance Sheet Income Expenses Assets Liabilities
  22. 24. How The Wealthy Live They take the income of the poor and middle class, and buy assets that produce more income Income Statement Balance Sheet Income Expenses Assets Liabilities $ Poor and middle class income
  23. 25. Rich Dad’s Cash Flow Quadrant
  24. 26. Rich Dad’s Cash Flow Quadrant (modified) You have a job . Someone else is the boss. Security before money.
  25. 27. Rich Dad’s Cash Flow Quadrant (modified) You have a job. Someone else is the boss. Security before money . You own a job . Loner/”boss.” Perfectionists. Small bus. owners: Drs. Restaurateurs. Independence before money.
  26. 28. Rich Dad’s Cash Flow Quadrant (modified) You have a job. Someone else is the boss. Security before money . You own a job. Loner/”boss.” Perfectionists. Small bus. owners: Drs. Restaurateurs. Independence before money. You own a system that others operate. Coordinator. Delegator. Franchiser. Use other people's time and money.
  27. 29. Rich Dad’s Cash Flow Quadrant You have a job. Someone else is the boss. Security before money . You own a job. Loner/”boss.” Perfectionists. Small bus. Owners: Drs., restaurateurs. Independence before money. You own a system that others operate. Coordinator. Delegator. Franchiser. Use other people's time and money. Your money works for you. Make money with money. Other’s liabilities are your assets.
  28. 30. Rich Dad’s Cash Flow Quadrant (modified) Job Security Financial Security Financial Freedom Ultimate Financial Freedom Wealth Side Rat Race Side
  29. 31. Sample Paths To Financial Freedom Wealth Side Rat Race Side Start End or Start
  30. 32. Sample Paths To Financial Freedom Wealth Side Rat Race Side Start End
  31. 33. Some Final Thoughts

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