The Wisdom of Robert Kiyosaki

2009-01-26T07:47:00.001-08:00

Robert Kiyosaki wrote Rich Dad Poor Dad in 2000 and the advice he gives resonates better today than ever.

Mr. Kiyosaki asserts that we should all have multiple sources of income. Relying on a regular 40 hour a week job, not only keeps you broke, but should anything ever happen to that company or the economy ... well you get where I'm going here.

The horrific collapse of the US economy should motivate everyone to start listening to the idea of having multiple streams of income. And if you haven't read the book, let me just give you a small example.

I retired from a successful media career in 2002 at age 50. Way too young to retire. But what to do? Robert Kiyosaki's idea came to mind immediately, generate a regular monthly income from multiple sources. So off I went, and here are the actual results of my monthly income from a variety of income sources:

- Part time college professor $1,700.00 (teaching business principles)
- Part time affiliate sales income $1,500.00 (products with residual income only)
- Part time selling on eBay $1,000.00 (personal items & yard sales)
- Part time business consulting $1,000.00 (using my business background)
- Real estate income $1,000.00 (buying & flipping properties)

Total monthly income $6,200.00

Remember, I was free to put extra attention on any one of these sources if it felt like the opportunity was there. Affiliate sales income is a great example of that.

So in truth if any one of my income sources dried up for whatever reason, I was still going to be just fine. I had many opportunities to move back into a full time position after retiring, and I simply chose not to.

My wife and I bought and sold 5 properties over a 6 year period and after expenses and taxes, they netted us $160,000.00 or $2,222.00 a month over 6 years. I only counted it as $1,000.00 a month as that was my half, you see my wife and I are equal real estate partners.

eBay was an absolute blast! We had collected a great many things over the years and they always sold well on eBay. Then we started having fun with a few yard sales and auctions. It was the best fun ever, so it never felt like work at all.

As a part time college professor and business consultant the work was easy as it was all material I was well versed in. Thus easy to teach and a super opportunity to share a great many anecdotal stories from real life business experience.

Finally, my part time affiliate sales income. And I sincerely have to tell you, this was by far the most rewarding source of income. Selling other peoples goods and earning a commission. Unlike eBay where I would have to have the physical product on hand and then ship it, collect the money, trade emails with customers etc. Selling as an affiliate basically means I am only a middle-man. I never touch the actual product, I only facilitate the sale, and pick up a commission. No phone calls and no meeting people. I have no territory to worry about, I am able to sell the products anywhere in the world. I love this because it's online and selling for me 24/7. Nothing beats waking up in the morning, grabbing a coffee, and going online to find out you made 3 sales overnight and earned $200.00 . What a way to start the day!

Robert Kiyosaki's cash quadrant thinking has never been more important than right now. What I really like here is that you can take your multiple sources of income with you well into retirement. Take your laptop and spend a month in the winter, in a warmer climate, and focus all your attention on your affiliate sources of income. Crank up the other sources when you get back. In the end, it puts you in complete control of your financial situation. You rely on yourself and I love that and that my friend, is The Wisdom of Robert Kiyosaki!

About The Author - Mike Perras is a retired media executive. He is a big fan of Robert Kiyosaki's "Rich Dad Poor Dad" book. He is also a member of the Mack Michael's Maverick Money Maker Club

The Maverick Money Maker's Club has an affiliate program that pays a monthly residual income. Residual income is one of the best kept online sales secrets. It allows affiliates to build an extremely healthy income and even stronger passive income at the same time.