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How to put your extra money to work for you

One of the things I love most about my work is seeing people move from the left side of the CASHFLOW Quadrant to the right side of the quadrant.

The process of moving from being an employee or self-employed to a business owner or a sophisticated investor is a bit like that of a caterpillar turning into a beautiful butterfly. It takes time and often requires a total transformation in mindset and behavior.

One of these behavior changes is understanding what to do when you have more money suddenly at your disposal. Whether it’s from an inheritance, a raise or bonus, or some other source, the temptation for those on the left side of the quadrant can be too, at best, follow conventional advice about money, or, at worse, to spend it on liabilities like cars or vacations.

Such conventional advice could be to increase your contributions to your 401(k) or to continue to live below your means. I’ve written a lot about both these topics, and it should come as no surprise that I don’t condone either of them.

If you’re facing a windfall in new money, now is the perfect time to put into place the rich dad fundamental: invest in cash-flowing assets.

But in order to do that, you need to understand some basic rules of investing.

Learning and mastering the rules of investing takes a life-long investment in financial education. But these basics will get you started. Where you go from here is up to you.

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