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Overview of “Rich Dad, Poor Dad”
One of the main reason why people struggle too much with financial problem because they spend several years studying in school but learn nothing about money and investments. As a result people learn to work at the service of money but never learn to put money work for them.
Robert T. Kiyosaki, 2001
Summary of Rich Dad, Poor Dad
Introduction
“Rich Dad, Poor Dad” is the story of two fathers, a rich one and a poor one. One was highly educated and intelligent and other one never finished the eighth grade. But they both have a very different point of view. One would say “The love of money is the root of all evil” The other said “The lack of money is the root of all evil”. Just because he had two fathers, he learned from both of them, he gained valuable insights for example, One dad had a habit of saying, “I can’t afford it.” while the other insisted on “how can I afford it?”
The rich father in this book teaches two small boys some invaluable lessons about money through his own experiences. The most important one is how to best use your mind and your time to create your own wealth through business and investments. He also taught to get out of the rat race. Learn how to seize opportunities, find solutions and most especially, learn how to make money work for you and not be its slave!
Note- Here “Rich” and “Poor” are used by Kiyosaki in order to explain what type of behavior is preferred to attain financial freedom.
Some of the Robert sayings
- So many people say, “oh, I’m not interested in money. “Yet they’ll work at a job for eight hours a day.
- When it comes to money, most people want to play it safe and feel secure. So passion does not direct them. Fear does.”
- People’s lives are forever controlled by two emotions: Fear and Greed.
Two roads diverged in a wood, and I-
I took the one less travelled by,
And that has made all the difference.
-Robert Frost, The Road Not Taken
So here’s all the lessons that you are going to read in this book click to buy from Amazon IN and Amazon US
- The Rich Don’t Work for Money
- Why Teach Financial Literacy?
- Mind Your Own Business
- the History of Taxes and The Power of Corporations
- The Rich Invent Money
- Work to Learn – Don’t Work for Money
- Overcoming Obstacles
- Getting Started
- Still Want More? Here are Some To Do’s
Final Thoughts of Robert T. Kiyosaki
The main reason Robert wrote this book was to share insights into how increased financial intelligence can be used to solve many life’s common problems.
He shares an example of how a friend, worried about being able to save enough money for his children’s college education, was able to turn an initial $7,900 down payment in a house in Phoenix into a project a few years later that generates $3000 a month in income. It took just a little money to start, and financial intelligence.
Education and wisdom about money is important. Start early. Buy a book. Go to a seminar. Practice. Start small. It’s what is in your head determines what is in your hands. Money is only an idea.
In the world of accounting, there are three kinds of income: Ordinary earned, portfolio, and passive. Passive income, in most cases, is income derived from real estate investments, portfolio income is income derived from paper assets such as stocks and bonds.
Taxes are higher on earned income and lowest on passive. As rich dad would say, “The government taxes the income you work hard for more than the income your money works hard for.”
So Guys if you came so far why not to buy this book, here is the link from where you can purchase, Amazon IN and Amazon US to buy. And don’t forget to write in the comment section.
– Sumit Kumar
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