Let money work
Job is an acronym for "Just Over Broke."
- p 136
Robert had two dads; one was, of course, his real dad; the other one was his friend Mike's dad. Both dads had different ways of looking at money, and that difference taught Robert greatly throughout his life. I will give you some examples of how Robert advises us.
Throughout the book, Robert repeatedly says that we need to "understand the difference between an asset and a liability." For example, "when I[Robert] want a bigger house, I[Robert] buy assets that will generate the cash flow to pay for the house."
The secret of rich is very simple in his book; "the asset column generates more than enough income to cover expenses, with the balance reinvested into the asset column. The asset column continues to grow and, therefore, the income it produces grows with it."