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Partner up with the government

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Transcript

Hey everyone. Welcome to episode five of The Board. Today’s session is all about partnering up with the government. So if you’re wondering where I took this analogy from, I actually was able to visit and attend the Rob Kiyosaki event in Sydney last week. So Rob Kiyosaki is famous for the book ‘Rich Dad, Poor Dad.’ Him, his wife Kim were sharing some fantastic thoughts and so many lessons that I took out of it. 

So this is actually one of them. And partnering up with the government, I didn’t think of it in this way until recently and until attending that conference. So let’s just go through what that means.

Now if you think of it from an investor’s sense, whether it be investing in yourself, investing in your business, or investing in property. Or other assets. The government has tax, okay? And the system of tax is basically a system of incentives in the form of investing when you look at it that way. 

But the government is asking you or wants you to do certain things. And when you do those certain things, they incentivize you. So in a way, each time you’re making an investment, for yourself, for your business, or for property, you’re doing what the government wants you to do when there’s an incentive off the back of it in form of tax. 

Now if you’re wondering, “Okay, Arjin, what is that incentive really doing? Why are we getting incentivized?” It comes back to help. So Robert Kiyosaki touched on the fact that when you’re looking at these incentives as investors do and you’re getting help, you’re actually not just getting the help, it’s actually to say thank you for helping the government. Now the government needs our help. And here’s a perfect example of it. 

If you think of buying a property, let’s look at the domino effect that happens from buying the property. You maybe, say, build a home. There’s the builder, the counsel, the plumber, the electrician. Now you’ve got someone perhaps picking up the rubbish. And you’ve got the garbage truck. 

You’ve got the property manager now managing tenants or someone looking to live in there. You’ve got a bank and all the staff that live in the bank who did the loan. The list just goes on. Your one home that you, whether you built it or purchased it brand new, has impacted so many jobs. So much in the economy. And it’s actually an important piece to why the government wants your help. 

So when we think of it so far, we’ve got incentives from the tax. It’s a system full of incentives with the government is telling us what they want us to do. We are partnering up with them and providing them with the help. 

And lastly, doing it legally. It’s important. Don’t be a crook. Legal returns. Just get it done the right way. There are so many things that incentivize us from investing in business, investing in ourselves, or investing in assets. Let’s use those as the only means and also do it properly, not illegally. Okay?

So when you think of these three things, these are three things that Robert Kiyosaki covered. And what I wanted to share with you. And if you look at in your investment, let’s not look at it just from an investment and you growing your wealth. Let’s look at the investment, whether it be in yourself, your business, or property, as a means of partnering up with the government.