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10 Helpful Lessons from Rich Dad Poor Dad by Robert Kiyosaki
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1. Rich and poor people have very different views about money.
Money is rarely taught in school. Therefore, kids learn about money at home.
Most will follow their parent's habits and become the “Poor Dad” as an employee. Others will become rich by starting a business.
Money is rarely taught in school. Therefore, kids learn about money at home.
Most will follow their parent's habits and become the “Poor Dad” as an employee. Others will become rich by starting a business.
2. Rich Dad learns through real-world experiences, not classroom lectures.
By experiencing the real world, you are able to see how the world actually turns.
You don’t get this same experience in a classroom.
Real-world experiences will show you how the rich get rich.
By experiencing the real world, you are able to see how the world actually turns.
You don’t get this same experience in a classroom.
Real-world experiences will show you how the rich get rich.
3. Spotting opportunity is a skill you can learn.
Rich Dad taught that working without getting paid will train your mind to see opportunity.
When you work with little resources, you begin to think differently.
You don’t get this same experience working as an employee.
Rich Dad taught that working without getting paid will train your mind to see opportunity.
When you work with little resources, you begin to think differently.
You don’t get this same experience working as an employee.
4. You become wealthy not from working, but by buying income-producing assets.
If you live off the money you earn from your physical effort, you will work till the day you die.
Invest in:
- Stocks
- Bonds
- Real Estate
- Businesses
- Intellectual Property
If you live off the money you earn from your physical effort, you will work till the day you die.
Invest in:
- Stocks
- Bonds
- Real Estate
- Businesses
- Intellectual Property
5. Understand the difference between an Asset and Liability.
An asset earns you money and a liability takes your money.
Most think a single-family home is an asset but it really isn’t. If the house does not go up in value and doesn’t provide you income, it is not an asset.
An asset earns you money and a liability takes your money.
Most think a single-family home is an asset but it really isn’t. If the house does not go up in value and doesn’t provide you income, it is not an asset.
6. Real estate is a great asset type to begin building a strong foundation
There are many tax advantages to owning property and ways to purchase homes for a low price at a low-interest rate.
Research the FHA loan.
There are many tax advantages to owning property and ways to purchase homes for a low price at a low-interest rate.
Research the FHA loan.
7. Work to learn new skills, not for immediate income.
Work should be viewed as a learning opportunity especially early in your life.
The most important skill is to learn Sales and Marketing. It is involved in every industry.
Grab my Instagram Branding Machine course to start.
Work should be viewed as a learning opportunity especially early in your life.
The most important skill is to learn Sales and Marketing. It is involved in every industry.
Grab my Instagram Branding Machine course to start.
8. We all have inner obstacles to wealth like fear, arrogance, and laziness.
You are not alone. Work each day to battle against these internal blocks.
Those who express fear towards you when you share your dreams are just upset they gave up on theirs.
You are not alone. Work each day to battle against these internal blocks.
Those who express fear towards you when you share your dreams are just upset they gave up on theirs.
9. Owning a business will offer you many benefits including tax savings.
Not only will owning your own business lead you down the road to freedom but it will grant you tons of benefits especially with taxes.
Study the tax benefits of a business owner and you can save money.
Not only will owning your own business lead you down the road to freedom but it will grant you tons of benefits especially with taxes.
Study the tax benefits of a business owner and you can save money.
10. Pay yourself first, even when it doesn’t feel right.
Most will pay bills, the government, etc first before giving a dime to themselves.
Put at least 10% into your retirement savings before you pay bills.
Most will pay bills, the government, etc first before giving a dime to themselves.
Put at least 10% into your retirement savings before you pay bills.
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