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Robert Kiyosaki’s 10 Keys to Financial Freedom

Joel Brown (Founder of Addicted2Success.com)

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Robert Kiyosaki Financial Advice

Financial freedom is one of the most desired wishes anyone has, and it is so for a good reason. You can never expect when there will be a financial crisis, sweeping away all your wealth and income sources. As a result, educating yourself about the importance of financial freedom, as well as the means to achieve it is very essential.

Robert Kiyosaki, an eight-grade dropout entrepreneur and investor, is one of the most popular financial literary activist and commentators living today. His book “Rich Dad Poor Dad” is rated as one of the best personal finance books of all time, and in it he details many ways to achieve financial freedom.

 

Here are Robert Kiyosaki’s 10 Keys to Financial Freedom:

 

1. Accept Full Responsibility

Every choice you make has its own consequences, some of which may cause damage to your wealth irreversibly. Hence, you must accept complete responsibility to secure your financial future. Understand that every decision and choice you make today will impact your life tomorrow. Therefore, it is essential that you evaluate all your financial decisions, purchases and expenses within the context of your long-term financial objectives.

 

2. Control Your Spending

We live in a consumer-driven world where we are compelled to spend continuously. Your spending habits are one of the main reasons why you won’t be able to secure your financial future easily. Track your every expense and think twice before making any purchase. It will be hard to do so at first, especially if you are prone to uncontrollable spending, but once you learn how to manage your expenses, then moving towards achieving your financial freedom will be a cakewalk.

 

3. Having a Budget is Crucial

Creating a budget and living within its limitations is crucial for achieving financial freedom in your life. A budget gives you the input you need to manage your income and control your expenses. In short, a budget gives you a sense of accountability. If you want to secure your personal finances, then a budget will provide you with tools to achieve just that.

 

4. Pay Yourself First

One of the key fundamental practices to achieve financial freedom is to work for yourself, rather than work for a bank or a credit card company. Learn to pay yourself first before you pay someone else. By doing this you achieve two things: you make yourself richer, and you stop getting poorer.

Only when you save money today can you invest it tomorrow, ensuring your financial freedom in the process.

 

5. Never Have Any Debt

Debt is one of the leading causes of financial insecurity in many people’s lives. It starts consuming you from the inside, stopping you from pursuing your dreams, hopes and goals in life. Debt deprives you of a happy future. Being debt-free should be one your unrelenting goals in life, and you should commit yourself totally to stay that way.

Debt-free living should be your passion if you want to achieve financial freedom.

 

6. Establish an Emergency Fund

An emergency fund is a cash cushion that will support your living expenses for at least 3 months. It can also come in handy when you need to cover unforeseen expenses in your everyday life such as repairs, medical expenses and other emergencies. Having an emergency fund is essential to make sure that you don’t resort to debt when such situations arise. Ensuring that your living expenses will be covered will also give you “peace of mind”.

One of the best ways to have a cash cushion is to set up an alternate bank account and start saving for your emergency fund.

 

7. Never Stop Learning

Educating yourself about financial matters regularly should be your top priority.

Today, there are countless sources to update your knowledge about the finance industry and how it works. Take full responsibility of your financial life by committing yourself completely to it. Instead of reading all topics in one sitting, you can start learning one subject at a time. For example, you can read about home budgets if that is what you are interested in. Likewise, there are many other financial matters that you can learn consecutively, thereby increasing your overall financial literacy.

 

8. Have Clear and Concise Financial Goals

If you don’t have any clear defined financial goals, then it will be very hard to work towards securing your financial freedom. If you want to establish a big business, work towards it by starting your own company. Alternatively, if you want to be an investor, learn to pick the right opportunities and grab them immediately when available. Only when you have your financial goals clearly in your mind will you be able to recognize your true potential.

Having goals and working towards them will also motivate you to life the life you’ve already dreamed out.

 

9. Network Marketing

The low startup cost of setting up a network marketing company is a great advantage to have. It is very hard to start a big business without huge investments and time.

A network marketing company will give you the time you need to build your business skills and transition from being a low-level employee to a highly paid businessperson. Hence, networking marketing is one of the perfect ways to secure your financial freedom. Network Marketing supplies you with a residual income, so you make money while you sleep and travel.

 

10. Simplify Your Life

Life is becoming more complex with almost every passing day. Running after money and your financial goals will distract you from things that are very important in life. As a result, you will start to lose your motivation and slump into the darkness. Hence, it is very essential that you simplify your life by freeing up your mind of all the clutter.

The key to financial freedom is very simple: convert your regular earned income into passive income or portfolio income. With this in mind, it is very easy to achieve the goals you desire without giving up on things that you hold close to your heart.

 

Robert Kiyosaki Picture Quote Poor To Rich

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

Success Advice

How Your Friends Determine Whether You Succeed or Not

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Can anyone do without having friends? We all have our friends, we share ideas with them, talk together, have fun, and fight. Yes, that’s the baseline of friendship. But, do you know that aside from you, your friends can determine whether you achieve success or not?

There are two things in friendship which are the ability to ”love” and the ability to “influence”. This means you are loved and you are influenced. How do your friends affect your success in life? How are they one of the biggest deciding factors of your success? Let’s find out.

What type of friends do you keep? 

First, what type of friends do you keep? Who do you call your best friend? There are two different kinds of friends, good friends, and bad ones. A lot of people have lost their pathway to success and some have also found their road to success all because of the friends they keep, the people they mingle with. 

Who is your best friend? Answer carefully. Having a best friend means you find each other compatible and understanding. Analyze who your best friend is. If your best friend has not motivated you to do something positive, if who you call your bestie has never given you positive advice, lastly if your best friend has never informed and advised you on your shortcomings, then you don’t have a best friend.

This quote tells us “birds of the same feather flock together”. Countless people have changed from their good nature into a bad one all because of friends. One thing to note is, “negative people move with negative aura”. If your best friend is filled with negativity inside-out then you will surely be affected by his/her negative aura.

They influence your success with positivity or negativity 

The friends you keep can either influence you with positivity or negativity because your friends have the power to change your kind of person completely. 

This is how your friends influence you:

  1. They influence you indirectly with what they do
  2. They influence you directly by teaching and giving you advice 

Yes, that is how they influence you. For instance, you watch a movie and you like the way the actor walks. The question is if you truly like the way the actor walks, won’t you try to imitate the actor? Of course, you will.

Just the way you imitate the actor is the same way your friends can influence you with their character. However, the funny part is, they don’t have to teach you to do things like them. You just find yourself imitating and copying them gradually.

An important question to ask is, are you imitating a good friend or a bad one? If you imitate a good friend then you will be good, but if you imitate a bad person, you will surely become a bad person.

Everyone wants to succeed, a good friend will always teach, enlighten, and motivate you for success. A bad friend will only motivate you to do evil things (smoking, drinking, fight, envy,).

And you should know that things like that are a great enemy of success and even of God. So, if you have these bad elements in your life, how will you achieve success? There is no way!

And also, they can teach and advise you directly. But, what do your friends teach you? When you ask them for advice do they inspire you positively or teach you the bad stuff.? A lot of people have regretted lifelong decisions just by listening to the advice of friends. 

The company you keep has the power to influence and change you. Never forget that a positive influence will teach, motivate, and brush you up for success. While a negative influence will inspire you to become a bad person, change your good nature, and leave you with regrets in the end.

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The 3 Step Process to Building a Profitable Pitch

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As a communication coach, one of the top questions entrepreneurs ask me is how to deliver a winning pitch to potential investors. They want to know if there’s a magic formula to get an investor to say yes and buy into their dream and their business. (more…)

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The 4 Pillars of Wealth and Abundance

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Have you ever wondered what the formula for a wealthy and abundant life is? Many people have. Lots has been written about the subject of wealth creation and living an abundant life. It was a breaking point in my journey and pursuit of success when I found out that there is a clear path to achieve success in life. Thanks to those who have shared their journey, we can clearly see and follow the principles of prosperity. (more…)

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Here Are 4 Reasons Why You Should Have a Podcast, Youtube Channel or Online Show

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Confidence comes from a place of strong understanding of self. After close to three years on radio, I’ve grown from a shy introvert to a shy introvert with an extrovert persona. When the mic is turned on, I can channel a version of myself that some say is attractive, strong, and of course, confident but it wasn’t always this way.

What I want to share with you is what I discovered on this journey into broadcast that you can apply to your life, your ventures, and your personal development. This doesn’t require any fancy gear. It does require a leap of faith on your part because once you go down the road of media; it can change your life.

1. Perceived Expertise

When you go to a doctor, you expect their knowledge will guide them to a solution to your problems. When you have a show, you become your listeners’ doctor. For all the multiple thousands, maybe millions, of YouTube channels, podcasts, and user-created content in the world, each person that gets behind a mic takes a position on their passion, their opinions, and their themes.

They challenge the status quo for the benefit of their listeners in hopes to entertain and educate. With consistency on your side, those fans place you on a platform and give you permission to influence them.

2. Global Acknowledgement

One of the benefits to increasing confidence is when you receive thank you notes from people you may never meet. The feeling of enriching someone’s life from halfway around the globe, provides validation you’re enhancing someone else’s life with your wisdom and your wit.

The very first time I was told I was making a difference in someone’s life in a country other than my own, I felt like I caused massive impact that transcends my circle of influence. When you experience just how much you can cause impact and it comes back to you, it’ll change your worldview.

“Be grateful for what you have and stop complaining – it bores everybody else, does you no good, and doesn’t solve any problems.” – Zig Ziglar

3. Backed By Numbers

One of the most exciting ways to measure success is to quantify your growth. It’s not enough to just broadcast. Having subscribers and downloads helps to know, numerically, how well you’re doing. Word of caution. This can be a way to set yourself up for distress because of number envy but if you understand what the numbers mean; you can control the narrative of the numbers.

The major number that makes most people smile is 10,000. I’d advise it to be 1. Here’s why. As you grow in your industry, so does your reach. If you learned that the one person that subscribed totally changed for the better because of you, wouldn’t that be worth the effort?

4. Effective Communication

While it’s not talked about much, having a show is documentation. You create a dynamic account of your life, your industry, and the pulse on what’s important simply by having a show. When you find a channel to improve your communication skills, you demand attention and people will listen to you. You become more trusted as a leader and people will follow you once they believe you can lead them to their wants and needs.

“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.” – Tony Robbins

These insights have helped many people become leaders and, ultimately, move others to their best selves. It’s worked for me and I hope it works for you. At the end of the day, it’s all about showing up and showing out.

Have you ever thought about having a radio show? If so, what would you talk about? Let us below!

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