Chapter 4... RICH DAD, POOR DAD

“A business is only a business when your presence isn’t required. Once your presence is required on a daily basis, it is no longer your business, its your Job !”

Chapter 4 Opens up with the founder of McDonald’s Franchise Ray Kroc giving a speech to the MBA class at the University of Texas. He stresses the point that he’s not in the “burger business” but more of “real estate”. Real Estate because his business wasn’t focused on burgers and buns, but property to expand the franchise. Most people work for everyone but themselves.

Secret No. 3 90% of Americans work minding someone else’s business. The reason for that percentage^, is our educational system. It literally programs our young minds to look for higher education to further our knowledge within out profession. But usually our profession isn’t a business, its usually minding someone else’s business. In order to become financially secure, you have to mind your business. The average Joes worry about they’re income column as the rich only worries about they’re asset columns. The middle class is often conservative with they’re asset’s because they’re not finically stable to take risks. So, they’re forced to live from check to check. Minding the next man’s business. “MIND YOUR OWN BUSINESS”

They usually can’t take risk because not only are they living from check to check, is because they’re assets are usually the wrong things. Assets to them are usually liabilities such as, the brand new “BENZ” sitting in the driveway and the payments are killing them. Or the “8900 Golf Club 2000” in the garage that was worth $1000, which would now be lucky to find somebody to sell it for FREE! He also gives a list of some the assets you and your children should acquire.

A business which is ran or managed by other people, but... OWNED by you! Stocks Bonds Mutual Funds Real Estate List of Assets