Reading Rich Dad Poor Dad over the last two weeks. Some useful insights, but sometimes goes overboard advertising Network Marketing.
Some insights.
a) Invest in income generating assets and not expense generating assets (ie. liabilities :-)). E.g. the first thing people do after stabilising is buying a house/car on loan. This will create an expense in your income which diminishes the cash at hand. So what he suggests is that initially, you do invest in Passive Income generating assets like Stocks, Real estate and only after this starts generating some steady income, go for things like house, car etc..
b) Own a corporation.
For a corporation, First comes income, then expenses and then Tax.
For an individual, first comes income, then taxes, and then expenses.
Phenomenonal thinking.