Robert Kiyosaki Releases “Why The Rich Are Getting Richer” with Tax Expert Tom Wheelwright
As part of an overall Rich Dad mission to "increase the financial literacy of the world,"
"Why The Rich Are Getting Richer" is written as the "graduate school" version of "Rich Dad Poor Dad" that is celebrating its 20-year anniversary as the number one personal finance book in the world. Kiyosaki explains why it is now "obsolete advice" to "go to school, save money, get out of debt, and invest for the long-term in the stock market," and why a real financial education is a must if people hope to succeed today.
In this new book,
In the "Tax Lessons from Tom" tips, Wheelwright emphasizes, "Taxes are not intended to punish people. They are intended to reward those who do what the government wants them to do."
Kiyosaki adds; "It is estimated that for every dollar a person spends, 80% goes directly or indirectly to some kind of tax… and back to the government." There are "taxes upon taxes," and with the right strategy and financial education, a person can save millions over a lifetime.
One of the most important concepts
- Bad Debt is credit card debt used to purchase goods and services (shoes, TVs), where the individual often pays only the minimum payment every month.
- Good Debt is debt that's invested in assets that deliver positive cash flow. For example, if an investor buys a real estate property where the monthly rent exceeds the total monthly expenses, the investment is cash flow positive.
"Why The Rich Are Getting Richer" explains how cash-flow millionaires, business owners and investors have the most control over taxes and their financial future. Kiyosaki and Wheelwright also expand on why the "American Dream" of a good job with a retirement plan is dead, provide an in-depth look at the financial history of
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