Insights on Robert Kiyosaki’s Guide to Investing – Chapter 27

20161106_034730.jpg

It was a blast! I am done in giving insights for twenty-six chapters and here am I again, giving another for Chapter 27 with the title “How to get rich slowly”.

After reading through the chapter, the author did not give any definite pieces of advice on how to get rich slowly but rather he illustrated how the rich takes advantage of the laws and become even more richer.

The very method he illustrated is how the rich enjoys the benefits of having their own businesses with their knowledge on taxation. Businessmen used to pay taxes after their business expenses. Expenses that might include even their own salaries as managers or appearance on meetings, etc. and other inherent benefits on being the owner. Whereas the employee pays taxes first and whatever left is used to pay the necessary expenses and the rest if there is left, goes to savings or much worse, unnecessary expenses.

Through time, those who have chosen the path of entrepreneurship would enjoy every sale they make to their customers and pay the Government a certain percentage that varies from each country. It is the simplest method on how to get rich slowly. Unlike in being an employee, where employees have no choice but to pay the taxes due to the Government first and make use of whatever there is left.

Being an Accountant, I have some knowledge in taxation and I got pretty much the idea of the author. If I would use the same formula as the rich do, I might be able to save and enjoy every earning I make. The taxation law on our country allowed a few number of deductible expenses that can be used to reduce the amount of tax to be paid to the Government.

It seems pretty unfair as a lot of people choose to take the path of employment. A lot of people settle for security through pensions after retirement because they see entrepreneurship as risky. They never see the risk of being terminated, sick and away from home most of the time. They never see the benefits of having more time while earning as well as having more resources to use before paying for taxes.

I cannot blame those who have chosen the path of employment, we are meant to become employees from the point that we choose our courses in college. Even though there are courses that might be helpful in being an entrepreneur, no ordinary person would have the guts to proceed immediately on being an entrepreneur after graduation. There is still a lot to do in terms of opening the minds of people when it comes to money. I do hope that with this method shared by the author, we could open our minds for a better future and start to get rich slowly.

NOTE: IF YOU MISSED THE EARLIER CHAPTERS HERE ARE THE LINKS:
Advertisements

18 thoughts on “Insights on Robert Kiyosaki’s Guide to Investing – Chapter 27

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s