The One Dollar Difference

This Midweek Money Minute is brought to you by Profit Hiker.

That One Book

Most successful people I’ve talked to in my life have that one book that unlocked something in their mind, changing their life.

For me, that one book is Rich Dad Poor Dad by Robert Kiyosaki.

(yeah, I know. Generic money guy reporting for duty.)

It’s a cliche because it’s good, but for me it was mind-opening for a different reason than most.

If you haven’t read it, Rich Dad Poor Dad is a tale of two influences upon the author: his given father, and his friend’s father. His given dad works for a salary, and teaches his son how to work hard. His buddy’s dad teaches him how to leverage assets to make money.

For many people, his “quadrant” concept of moving from employee to business owner was so simply stated and wonderfully illustrated that it changed their thinking (which then changed their lives).

For others, the author’s methods and tactics for leveraging other people’s capital to flip real estate–how Kiyosaki made his way in the world–stirred an awakening in their being.

But for me, it was one simple concept.

That concept was laid out when the author is describing the difference between assets and liabilities.

This simple truth is what changed my life: if your assets generate one dollar more than your liabilities cost, then you are financially independent.

In other words, retired. No longer trading time for money. Free.

It’s simply a one dollar difference.

That opens up so many possibilities to create assets that generate revenue, and then inspires change in how to spend money.

P.S. – if you are a small business owner, you will get a ton of value out of the Profit Hiker newsletter. It’s one free gold nugget sent (from me, Simon) three times a week to help you elevate your business.