Rich Dad Robert Kiyosaki and The Total Money Makeover Dave Ramsey are two giants in this money game. They have huge followings, they suggest a completely different approach to investing and both are multi millionaires!
With this being said which one do you follow??
If you have been following me I’m sure you believe that I would advise you to follow everything Robert Kiyosaki teaches to become successful investor.
Yes, I am a huge fan of Robert Kiyosaki’s books, programs and teachings. I recommend EVERYONE check out Rich Dad Poor Dad, Retire Young Retire Rich and Choose to be Rich as they delivered massive value to my life.
I personally borrow and leverage in my business using OPM (other peoples money) to invest in real estate creating passive income and respectable profits but this method will not work for everyone!
I highly respect Dave Ramsey’s teachings. When I lost it all years ago, I was working like crazy to climb back to the top. I was having a difficult time saving money to help me get ahead of the game. My Grandma loaned me Dave Ramsey’s Financial Peace University audio program and insisted I listen to what he taught. I had nothing to loose by doing this so I took it with an open mind telling myself I would follow this program and hopefully make some financial changes in my life.
I learned very quickly that Dave Ramsey is very entertaining and his program works! I lived his program for two years and over that time I relieved myself from loads of bad debt, built a nice savings and began investing in paper assets.
The first 12 of the 24 months honestly were really boring as Dave teaches you to spend NOTHING and chop away at the debt nightmare we create in our life, NO FUN! But the biggest thing Dave Ramsey taught me was DISCIPLINE! Because of him I no longer craved eating out or frivolously spending my hard earned money. I watched every dollar that came in and placed it in the proper investments.
After I had made several changes in my life it was time to speed this up!
I still lived and valued everything I learned from Dave Ramsey but to speed things up you need leverage!
It was time for me to join team Rich Dad and ramp things up! At this point I became very disciplined with money and my investment strategy. I began borrowing to invest in undervalued real estate, rehab theses properties and flip for profits. I would then reinvest my profits into other real estate related investments and continue to scale my business by using other peoples money! I would of never been able to grow my business so fast without following Robert Kiyosaki’s strategies. It also would not be a success without the discipline I gained from Dave Ramsey.
So the short answer is you need Discipline to succeed.
If you are always broke and unable to get ahead then you need to check out a Dave Ramsey books or programs and actually practice what he preaches! It will not be fun but neither is living the rest of your life broke and buried by massive BAD debt!
YOU WILL NEVER BE SUCCESSFUL LEVERAGING OPM IF YOU ARE NOT DISCIPLINED WITH YOUR PERSONAL FINANCES!
Once your bad debt is paid down, you have a savings account with enough money to cover 3 months of your bills and you truly become disciplined with finances it’s time to switch things up!
Study what Robert Kiyosaki teaches. Leverage OPM to buy assets like under valued real estate and notes.
Do not go all in on the first deal. Take baby steps to get your feet wet in this business and after every successful real estate transaction go a little bigger until you create an explosion of wealth for you and your family!