What If I Am Already Rich? What Advice Do You Have For Me?
It seems like the main message here was that if you are rich, value it and donâ€™t be careless in the way you handle it as there are a lot of people out there who would be happy to take it from you. Robert mostly talks about the three ways of investing again by using his CASHFLOW game as a reference. The funny thing I thought was how in regards to taking care of your money, he mentioned about how Anna Nicole Smith married a billionaire who was way older than her (Which he sarcastically states that the marriage was only because of love) and how Paul McCartneyâ€™s divorce may prove to be costly as there was no prenuptial agreement in place. He basically summarizes his advice for the rich to have the following four factors in-place:
1. A Will
2. An Estate Plan
3. A plan if incapacitated
4. A prenuptial agreement if you get remarried.
Donald re-emphasizes on how you should treasure your wealth and once again to be careful with it. His twist is that you should also have a lot of fun because of it. He uses himself as a personal example on how he owns a golf course and is in the midst of setting up a production company called Trump Productions. In the end, he throws in a comment about how philanthropic efforts can be one of the most rewarding things to do in life.
Robertâ€™s 4th point of having a prenuptial agreement if you get remarried was a little odd I thought. If the point was to try and protect yourself, wouldnâ€™t you do that right from the beginning instead of waiting for something bad to happen first? Itâ€™s almost like saying, if someone didnâ€™t fulfill a service for you as intended, then the next time get it down in writing instead of doing it the first time. Kind of odd I must say or maybe I am misinterpreting the point.