Rich dad poor dad

 

 RICH DAD POOR DAD.

What the rich teach their kids about money that the middle and poor class do not.

Robert Kiyosaki(book author) had two dad's one his dad which he calls him poor dad and his best friend Mike's dad which he calls him rich dad.At the age of 9 he decided to listen to his rich dad in terms of financial literacy.

This are some of the lesson we can learn from rich dad poor dad.

● If you want to be rich you first need to be financially literate.

● Rich dad says:love for money is the root of evil
Poor dad says:lack of money is the root of evil.

● Let money work for us:poor and middle people work for money but rich have money work for them.

● Learn to manage risk

● START EARLY:start your investment as early as you can.

● Put lot of your eggs in few baskets and be focused.

● It's not about how much money you make it's about how much money you keep.

● It's easier to change ourself than everyone else.

● PAY YOURSELF FIRST:we pay everyone else first but forget to pay ourselves first.

● People's life are forever controlled by two emotions FEAR and GREED:they work because of fear.Fear of not having the money and after getting the paychecks greed takes place.

● Fear of not having the money gets you into the job,this is not you who think but your fear is.

● Forget about how to make money first learn how to manage money.

● A job is only a short term solution to a long term problem.

● Buy assets not liabilities: rich buy asset first middle and poor people buy liability thinking they are asset.

● Don't afraid to lose.

● Focus on asset acquiring instead of bigger paychecks.

● Rich don't work for money.

● Convert earned income into passive and portfolio income.

● What we know makes us money what we don't know lose the money so invest only in what you know.

● Learning was everything for rich dad(learning new skills)

● it's good to know a "LITTLE" from a "LOT" rather than to know a lot from Little.

● Proper physical exercise increase chances of health and proper mental exercise increase chances of wealth.

● The pain of losing money is far greater than joy of being rich.

● Give what you want and you shall receive.

● TAKE ACTION.

● Failure inspires winners.

● In the end it's bold who go ahead.

● Be a observer not a reactor.

A finance book written by Robert Kiyosaki 
HAPPY READING!