Key Lessons from "Rich Dad, Poor Dad

Jul 24, 2024

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Teachings of Robert Kiyosaki: "Rich Dad, Poor Dad"

Introduction

  • According to Robert Kiyosaki, he has two dads: one rich and one poor.
  • Both dads have different thinking and hold different views on money management.
  • Robert completed his education at Stanford, Chicago, and Northwestern University.

Thoughts of Both Dads

Poor Dad (Poor)

  • Money is the root of all evil.
  • Emphasized on education.
  • Hard work is important in life.
  • Focus only on studies.

Rich Dad (Rich)

  • Lack of money is the root of all evil.
  • Proper utilization of money.
  • Importance of financial education and investment.
  • Development of thinking power.

Area of Education and Learning

  • Money is not taught as a subject in school.
  • Education emphasizes academic and professional skills.
  • There's a lack of money-related skills in schools.
  • Rich dad explained that the problem is with thinking, not money.

Perspective on Money

  1. Power of Thinking
    • "How can I afford it?"
    • Habit of thinking with capability.
  2. Broad Perspective About Money
    • Rich people make money, poor people spend.
    • Knowing how to earn money is crucial.

Rules to Become Rich

  • One should not work for money, but make money work for them.
  • Financial education.
  • Knowledge of small and large investments.
  • Establishing a strong financial foundation.

Assets and Liabilities

  • Asset: Brings money to you.
  • Liability: Takes money out from you.
  • Rich people invest in assets.

Ways of Investment

  1. Real Estate
    • We need to know what type of investments to make instead of buying.
  2. Stocks
    • Investing in small-cap stocks.

Useful Tips

  • Pay attention to the habits of billionaires.
  • Try, learn, and push yourself beyond limits.
  • Expand your thoughts and understand the world around you.

Conclusion

  • Move towards becoming rich with financial education, thought, and effort.
  • Belief in oneself and financial literacy are essential to become rich.

Advice to People:

  • Stop working for money and let money work for you.
  • Always focus on financial education.

ЁЯФС Key Lessons

  • The power of "financial intelligence" and "giving".
  • Give money to God first to become rich.
  • Proper management of time and respect for work.

End:

  • Think, learn, and become rich.