Rich Dad Poor Dad

Money is one form of power. But what is more powerful is financial education.

“My brain gets stronger every day because I exercise it. The stronger it gets, the more money I can make.”

Because when I’m arrogant, I truly believe that what I don’t know is not important

Another saying in Texas is, “Everyone wants to go to heaven, but no one wants to die.”

There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.

Proper physical exercise increases your chances for health, and proper mental exercise increases your chances for wealth.

For example, “1031” is jargon for Section 1031 of the Internal Revenue Code which allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for a more expensive piece of real estate. Real estate is one investment vehicle that has a great tax advantage. As long as you keep trading up in value, you will not be taxed on the gains until you liquidate.

Each dollar in my asset column was a great employee, working hard to make more employees and buy the boss a new Porsche

The poor and the middle class work for money. The rich have money work for them.

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”