Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money by Robert T. Kiyosaki

Author:Robert T. Kiyosaki [KIYOSAKI, ROBERT T.]
Language: eng
Format: epub
ISBN: 9780446568173
Publisher: Business Plus
Published: 2009-09-20T16:00:00+00:00

Only you can honestly answer those questions. Only you know if you are financially satisfied with your own life. Only you can daily make changes in your life.

If you are ready to make changes and plan for a brighter financial future, then the rest of this book is for you.

Chapter 7

What’s the Name of Your Game?

Question:What advice do you have for the average person?

Answer:Don’t be average.

The 90-10 Rule

Most of us have heard of what is commonly referred to as the 80-20 rule. The principle states that, for many events, about 80 percent of the effects come from 20 percent of the causes. It is also known as the Pareto principle, the rule of the vital few. It is named after an Italian economist, Vilfredo Pareto, who noticed that 80 percent of the land in Italy was owned by 20 percent of the people—the vital few. In business, a good rule of thumb is that 80 percent of your business comes from 20 percent of your customers—so take good care of them.

My rich dad took this rule a step further. He believed that 90 percent of all money is earned by 10 percent of the people. He called it the 90-10 rule of money. For example, if you look at the game of golf, I would say that 10 percent of the golfers earn 90 percent of the money. In America today, approximately 90 percent of the wealth is owned by 10 percent of the people.

If you want to win the game of money, you cannot be average. You need to be in the top 10 percent.

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