What does Rich Dad, Poor Dad teach you? It gives you the ideas and mindset of the rich people and poor people. It’s the story of Robert. He struggled to achieve financial freedom with the advice of his rich dad(His friend’s dad) and explain why his blood dad is not too rich.
He highlights every choice that makes you a rich person or moves away money from you.
Rich dad poor dad 31 lessons:
- People work to get the money. They have no stamina to wait and learn something new. Some take advantage of this opportunity and willing to work even with no money.
- The drive for money in rich people is passion and anger. The poor people have fears and insecurities.
- You allow your mind to work for free soon it, will find you the way. You can see a new scenario differ from others because what others looking for are money and security.
- Understand what’s your liability and assets. Raise your Assets more than your Liability.
- Rich dad poor dad describes that Liability put your money away from you. Assets move Money towards you.
- The income of rich people is their assets.
- People spend time and money in school. What makes them Rich is their financial literature.
- People have no control over their spending. They raise their liabilities compare to money rises. They solve long term financial problem with a short term solution.
- Build assets and generate a cash flow from assets to buy everything.
- Business is what can run without my presence.
- Take your luxuries least priorities and assets building first.
- Rich people always hire people smarter than them.
- Rich dad poor dad prominence that financial IQ needs to understand Accounting, Investing, Understanding markets and the government law.
- Transform your fear into power. The biggest single asset we all have is our mind. Train it that will return you enormous wealth.
- It’s the nature of our brain to learn from our mistakes. People most avoid mistakes and risks in life. Instead, they need to try and learn How to manage risks.
“The love of money is the root of all evil.” ― Robert T. Kiyosaki.
- People have no focus to turn their skill into a cashflow. Rich people intend to learn new skills that show more way to become rich.
- Learn How to sell can develop your system that you can hold with self-management skills.
- Rich dad poor dad summary explores that Poor people have fear, laziness, bad habits, arrogance and weak belief. Don’t boost your loss with these things.
- Rich people see the loss as an opportunity to learn and take inspiration.
- Build focus to try one thing until getting success.
- Other people cut corners by saying that they are too busy when they don’t know how to solve their financial situation.
- Rich dad poor dad summary teaches us how we can afford anything that we want by raising the possibilities of seeing the opportunities for it.
- You require mature financial advice that makes clear the difference between good debt and bad debt.
- Find the reason that can change your reality and adopt choices to achieve things.
- Choose your surrounding carefully. Learn the steps for reliable action through fast learning.
- Rich dad poor dad summary highlights that Pay yourself first by making your expenses low. Never hesitate to pay for the best advice.
- Develop the power in your deals to get extra free things. Like real estate deals with more tax deduction policies.
- Choose the right mentor or leader to seek motivation and insights.
- Understand the give and take formula. Give your best to others and get your best in return.
- Rebert suggests building up your knowledge about business with the help of various courses and new mediums like the internet and never.
- Leave the chance to try something innovative.
About the Author:
Robert Kiyosaki is an American famous entrepreneur and businessman at the age is 73years old. He is the founder of Rich dad company that runs on the rich dad financial concepts and spread them throughout the world. Robert wrote the world-famous Rich dad poor Dad series book that translates into more than 51 languages. The series explains the cash flow of Rich people.
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11 Steps that can put rich dad poor dad in action:
1. Identify your resources:
We have limited resources in our life. We need to identify each with an open mind. Besides, an attitude of gratitude is compulsory to surpass your limited resources.
2. Decide to utilize their maximum as an opportunity:
It’s your turn to become relentless and utilize these resources in a positive way. Resources can be anything that can add an action to your business models like time or money. Find opportunities with Who moved my cheese summary for gracious life.
3. Find a business model that you want to copy:
Find your competitors as much as possible. If you are not able to find even a single competitor, your idea needs modification and less chance to accomplish in reality.
4. Measure your resources with the time limits:
Rich dad poor dad wisdom can Measure each resource by applying various time limits. Once you see that you have a certain time for work. It develops your work routine.
5. Develop a rough plan:
I know in the beginning your every plan flops. A plan needs to create a roadmap to follow. Make it adjustable and flexible to achieve.
6. Find a famous and popular investment way:
The rich dad poor dad summary gives the investment of Kiyosaki in the form of oil, silver and gold. Nowadays, the popular way to get cash flow through investment is BITCOIN or other cryptocurrencies.
7. Choose the right people for your specific work:
Rich dad and poor dad highly emphasise the right people for your job. Rich dad always prefers to work with people smarter than him.
8. See long term results:
Once you start a business, you cannot receive everything overnight. Rich dad poor dad summary can explain how rich dad shows patience and courage towards long projects. Identify your goals with the achievable time limits and go for it. Compromise short term plans over long term benefits.
9. Take advantage of your limited source by leveraging them:
Never hesitate to use the leverage of your business. Involve other partners, take a loan or even develop a risky plan. Measure and manage your risks and try to minimize them.
10. Take insights from your mentor:
Follow the successful people in your field and develop a list of mentors that inspires you regularly.
11. Become giver to take everything:
If you want to achieve a huge income, be a source of huge income. Take advantage of the law of attraction and commit to serving others.
Frequently Asked Question:
Yes, it’s a financial awareness book that inspires us to live a financially free life.
The idea of rich dad poor dad go viral throughout the world. Kiyosaki earned ton of money through rich dad poor dad seminar franchising. He called it cashflow technologies launched back in 1997.
Kiyosaki explains his journey from scratch to become a multimillionaire. The journey consists of constant struggles to achieve financial intelligence and learn from every business mistake with a net worth of around $100 Million in 2020.
Mike is the son of Rich dad(Best friend of Kiyosaki) that Kiyosaki mentions in Rich dad Poor dad book. Both friends learned the financial game together from rich dad at a very early age.
The best lesson rich dad poor dad teaches is that money doesn’t belong to hard work, a passive income with almost no debt engineer with least risk is the best source of money.
The Rich dad Poor dad author has the worth of about $100million in 2020.
The book covers the main difference between the choices, mindset of poor and rich people. The book explains how easily we stuck ourselves in debt, leaving investment column empty.
The book launched in 1997.
It is the financial and economics-based book to provide self-help about financial freedom.
Robert Kiyosaki and Sharon Lechter are authors of book.
The rich dad poor dad summary answer the question of How to motivate yourself. Kiyosaki books reveal the secret to growing in capitalism. A world of currency, not dollars. Do you have any favourite Kiyosaki personal quote to share?