In the words of real estate guru and author of the bestselling "Rich Dad" book series Robert Kiyosaki, "It doesn't take money to make money. I often hear people say it takes money to make money. I disagree. We had no money when we started and we were also in debt. It also doesn't take a formal education."
He then mentioned Bill Gates as someone who never completed a college education. Which would you rather have, a collection of doctorates or Bill Gates' money?
What it does take, Kiyosaki says, is determination and a willingness to learn quickly. But you also have to know what to do with your talents and, most importantly, to know which part of the Cash Flow Quadrant to generate your income from.
The Cash Flow Quadrant is an icon taught to him by his best friend's father, a man to whom he refers in his books as his "rich dad." It is an illustration of what his rich dad called the four different types of people in relation to money: Employees, the Self-employed, Businesspeople and Investors. Each quadrant comes with its own outlook on the world. The outlook of those in the B and I quadrants are the ones that help make them rich.
What Robert Kiyosaki means when he says that in order to build wealth, you need to be a quick learner, is that you must learn the ropes of investing. Following in the steps of "Rich Dad," Kiyosaki himself invested in real estate - a great choice for anyone considering investing, as so much depends on it. In his "Rich Dad," book, he points out how many of Hawaii's businesses were located on land owned by Rich Dad.
But don't worry - learning about real estate doesn't mean that you have to learn every minute detail that goes into the buying and selling of property; in reality, there are plenty of people willing to take on the technical aspects of investing for you. You just need to think like a businessperson in choosing the individuals with whom you surround yourself.
Now, this is quite different from being in the 'S' or self-employed section of the Cash Flow quadrant, because, a self-employed person doesn't own a business; he or she simply owns a job. Those who own businesses, says Kiyosaki, can leave for a year and return to find your organization still intact and profitable - being a businessperson means that you are able to delegate authority to the right people, and not take on an excessive amount of responsibility yourself.
In the end, it doesn't really matter if you dive headfirst into the study of investing yourself, or you simply hire a qualified expert to help you make your decisions. The important part is that if you really want to strike it rich, you must be willing to move from the 'E' and 'S' squares of the Cash Flow Quadrant into squares 'B' and 'I,' which are where the real money is.
Alexandria P. Anderson is a licensed Minnesota Realtor that helps people to find and purchase real estate in the Twin Cities and other Twin Cities property depending her clients' needs.