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10 POWERFUL ideas from “Rich Dad Poor Dad” by @theRealKiyosakiI’ve loved this book for a long time.
The ideas inside have helped me, and I think they can help you too.
I’ll share them with you in this thread
Overview:
The main concept is increasing your financial IQ,
So that you can be financially free.
-Many people work hard in life
-Most do not become wealthy
-Most are trapped in the rat race,
-Working a ton of hours but struggling to make ends meet
The main concept is increasing your financial IQ,
So that you can be financially free.
-Many people work hard in life
-Most do not become wealthy
-Most are trapped in the rat race,
-Working a ton of hours but struggling to make ends meet
Principle #1: Don’t trade time for money
-For most, their profession is their income
-They have to trade time for money
-If they can’t trade more time, they can’t make more money
-Instead, the rich create systems that earn while they sleep
-For most, their profession is their income
-They have to trade time for money
-If they can’t trade more time, they can’t make more money
-Instead, the rich create systems that earn while they sleep
Principle #2: Wealth is measured in time
-Most are a slave to their paycheck
-Most can't go a month if they lose their job
-More income with less time is a trap
-Money doesn’t matter if you have to constantly work to survive
-Wealth is how long you can go without working
-Most are a slave to their paycheck
-Most can't go a month if they lose their job
-More income with less time is a trap
-Money doesn’t matter if you have to constantly work to survive
-Wealth is how long you can go without working
Principle #3: Build assets that earn while you sleep
-The rich spend their money buying cash flow producing assets
-Cash flow is money that comes in regardless of work
-Examples:
-Stock dividends
-Income producing rental property
-Ebook sales from an automated system
-The rich spend their money buying cash flow producing assets
-Cash flow is money that comes in regardless of work
-Examples:
-Stock dividends
-Income producing rental property
-Ebook sales from an automated system
Principle #4: Buy assets, not liabilities
-The poor stay poor because they buy liabilities
-Don’t try to “keep up with the Joneses”
-The neighbors with a “millionaire lifestyle” are probably in massive debt
-Don’t buy fancy houses & cars, reduce your expenses instead
-The poor stay poor because they buy liabilities
-Don’t try to “keep up with the Joneses”
-The neighbors with a “millionaire lifestyle” are probably in massive debt
-Don’t buy fancy houses & cars, reduce your expenses instead
Principle #5: Good debt vs bad debt
-Debt can be a friend or an enemy
-The poor take on debt to buy liabilities
-This is why credit card debt is so pervasive
-$$$ from interest payments
-The rich take on debt to buy cash flow producing assets
-Debt can be a friend or an enemy
-The poor take on debt to buy liabilities
-This is why credit card debt is so pervasive
-$$$ from interest payments
-The rich take on debt to buy cash flow producing assets
Principle #6: The rich invest in their growth
-Most rich people constantly invest in themselves
-They buy courses to help them reach their goals
-They become part of masterminds that can enrich them
-They constantly read books
-Most importantly, they never stop learning
-Most rich people constantly invest in themselves
-They buy courses to help them reach their goals
-They become part of masterminds that can enrich them
-They constantly read books
-Most importantly, they never stop learning
Principle #7: Play to win
-The rich play to win, instead of not to lose
-Playing to not lose money means you will never win
-Winning means being unafraid to lose
-Failure inspires winners & defeats losers
-Don’t be afraid to fail before you succeed
-The rich play to win, instead of not to lose
-Playing to not lose money means you will never win
-Winning means being unafraid to lose
-Failure inspires winners & defeats losers
-Don’t be afraid to fail before you succeed
Principle #8: Control your emotions
-The rich are in control of their emotions
-Most are influenced by fear, greed, & everything in-between
-Most are swayed by the opinions of others
-The rich do not let others control their emotions
-The rich are in control of their emotions
-Most are influenced by fear, greed, & everything in-between
-Most are swayed by the opinions of others
-The rich do not let others control their emotions
Principle #9: Control your environment
-The rich control their environment to succeed
-They surround themselves with winners
-They remove negative influences
-No TV, mindless browsing, or video games
-High value activities only
-The rich control their environment to succeed
-They surround themselves with winners
-They remove negative influences
-No TV, mindless browsing, or video games
-High value activities only
Principle #10: Ask better questions
-Questions control your focus
-Saying “I can’t afford it” shuts down your brain
-Asking “how can I afford it?” opens up your brain
-Change your questions to change your life
-Questions control your focus
-Saying “I can’t afford it” shuts down your brain
-Asking “how can I afford it?” opens up your brain
-Change your questions to change your life
Conclusion:
I hope you found this thread helpful,
And I hope you read @theRealKiyosaki’s books.
RDPD is just the basics, he has a ton more wisdom.
RT the FIRST TWEET if you found this valuable.
Thanks for reading!
I hope you found this thread helpful,
And I hope you read @theRealKiyosaki’s books.
RDPD is just the basics, he has a ton more wisdom.
RT the FIRST TWEET if you found this valuable.
Thanks for reading!
