Pdxwayne
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There are of cause risks of running a business.Kiyosaki's Why "A" Students Work for "C" Studenst and "B" Students Work for the Government. was really intended for parents wishing to teach their youngsters to gain a broader perspective of how money works, But since I don't have children, I skimmed sections pertaining to suggested family activities, and I found it a fairly easy read.
But I was nearly at the end of the book when I encountered what I thought was a really neat take on how to buy an automobile: It seems that the author had $50K to spend, and found a Porsche that he wanted to own. But this is an author who is very fond of the fable of the golden egg-laying goose, and from this perspective, simply hanging over his money was tantamount to surrendering his goose. So how to solve the seeming conundrum? By using the $50K + bank money to buy a business which generated enough net revenues each month to cover his car payments. Even better, the $50K initial investment is returned at some point, and the monthly revenue stream continues: This sort of thinking is entirely new to me.
; )
Another similar idea:
Instead of paying off home mortgage early with extra cash, use that cash to buy rental properties. Those rental properties will eventually have enough cash flow to pay off your home mortgage. So, instead of having just a paid off home, you ended up with a paid off home + rental properties that continue to provide cash flows. Again, there are risks in running rental properties.