You’ve heard the mindset and principles taught in Robert Kiyosaki’s Rich Dad Poor Dad—this is the foundation most investors and entrepreneurs change their mindset with , I’m sharing more of Kiyosaki’s wisdom from the book Cash Flow Quadrant. Cash Flow Quadrant details how rich people work less, earn more, and find financial freedom. The 4 most common ways to generate income. The most common income source is still the 9-5 job. But did you know there are many other ways to make income?
1. A job is the least effective way to make money. The big problem here is that you are trading your time for money and the lack of control you have in your income. The company you work for gets to decide how much they want to pay you. The lack of control is a big issue. If you want to earn more you have to wait for a raise or simply work more hours.
2. This is likely the second most common way people make money. Making money this way has it's pros and cons. A big pro is that you work for yourself and do not have a cap on your income. Many people have made large incomes in this category. The con is that you are still trading your time for money. This becomes a issue if you want to scale up. Eventually even if you are making a large amount per hour you will eventually run out of time.
3. Big business, This is one of the best ways to make money. This model gives you leverage. Here you can stop trading hours for dollars and the limits on your income go away. One challenge with this way of making income is finding good players for your team and learning how to manage people.
4. Making your money work for you. This has to be my personal favorite of the ways to make money. Some of the most successful people in the world play here. Once you have enough capital you can simply buy assets that pay for your lifestyle. This is financial freedom.
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