My poor dad always told me to me go to school and get a high-paying job. That’s not creating wealth. That's a job. My rich dad on the other hand always says work for assets. There are basically 4 asset classes that makes a person rich.
Number 1 is Business. The richest young
guys today start companies. Some great examples of this are Facebook,
Google, Apple, etc.
Number 2 is real estate. What my rich dad
taught me is the combination of being an entrepreneur in business and an
entrepreneur in real estate. Now due to this combination, I pay no tax
and I make a lot more money.
The 3rd asset is Paper. Savings in
gold, papers like stocks bonds mutual funds are liquid. You make a
mistake, you can get in and out real quick.
The last asset is
Commodities and this is why I own oil because in the U.S. if you deal in
oil, you get tax breaks. So oil is very profitable.