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Rich Dad's Cashflow Quadrant emphasizes the importance of setting realistic financial goals in today's business environment by encouraging individuals to create a personal financial statement. This statement includes long-term goals (for example, where you want to be financially in five years) and short-term goals (such as where you want to be in one year). The book stresses that these goals should be achievable and realistic, such as increasing monthly income from assets or decreasing debts. This approach allows individuals to take small, manageable steps towards financial freedom.
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Start by figuring out your personal financial statement. Write down where you want to be, financially, in five years, and a smaller short-term goal of where you want to be in one year. Make sure your goals are realistic. For example, "In five years, I want to increase my monthly income from assets to $xx. In one year, I want to decrease my debts by $xx."
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Discover a new approach to wealth management and start with small steps that can eventually lead to substantial assets. Robert Kiyosaki, author of the...
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