Rich Dad's Advisors: OPM: Other People's Money
Chapter One
What Is OPM? What Is OPR?
Getting Out of the Rat Race and Navigating the CASHFLOW Quadrant
Using OPM
How do you get out of the rat race? The Rich Dad answer is to put
your money to work for you instead of you working for money. You do
that by investing in or creating income-producing assets. When the
monthly income from those assets-passive income-exceeds your monthly
expenses, you're financially free. You have made it out of the rat
race.
Now, you have choices. You can continue to work at your job (or a
different job) because you want to, not because you have to. Or if
you choose, you can quit your job without changing your lifestyle.
Rich Dad talks about three basic types of assets: real estate, paper
assets (e.g., stocks and bonds), and businesses. There is also a
fourth type of asset: intellectual property, the intangible asset
that results from creativity, innovation, know-how, good
relationships, and reputation. Most of the time, intellectual
property is part and parcel of a business and is considered part of
the business ... read full excerpt from: Rich Dad's Advisors®: OPM: Other People's Money ebook
