How can I afford to never work again?
According to Robert Kiyosaki from his best-selling book Rich Dad Poor Dad, there are 5 main reasons why financially literate people may not achieve an abundant asset columns that deliver them Cash flow. They are
Fear. Cynicism. Laziness. Bad Habits. Arrogance.
One common objection to why people not wanting to become landlords is the misconception that they will have to ‘fix toilets’. Kiyosaki says this is the Cynic talking and making noise.
“I don’t want to fix toilets translates into it being more important than what they want. I want to focus on freedom from the rat race and they want to focus on toilets. That is the thought pattern that keeps most people poor. They criticize instead of analyze."
Rich Dad says he does not want to fix toilets either so he shops hard for a great Property Manager who does. “By finding a great Property Manager who runs houses or apartments, my cash flow goes up, but more importantly, a great Property Manager allows me to buy a lot more real estate since I don’t have to fix toilets.
“A great Property Manager is key to success in real estate. Finding a good Property Manager is more important to me than the real estate."
"In the end, toilets become more important than their freedom."
Fear and cynicism are the obstacle to building wealth
What to know more? Head to Chapter 7 of Rich Dad Poor Dad by Robert Kiyosaki. This book is worth a read or reread for anyone who wants to know how to afford to never work again :)