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10 Critical Lessons from "Rich Dad, Poor Dad"
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1. Make Mistakes and Learn
Schools teach us mistakes are bad because we are punished for making them.
Yet, humans learn from mistakes.
That's why the rich are not afraid of failure. They win or they learn.
"People who avoid failure also avoid success" @TheRealKiyosaki
Schools teach us mistakes are bad because we are punished for making them.
Yet, humans learn from mistakes.
That's why the rich are not afraid of failure. They win or they learn.
"People who avoid failure also avoid success" @TheRealKiyosaki
2. Bold People Win
They take risks that others may not think about.
Rich people don't think inside the box.
They believe there is no box.
The bolder you are, the more you will take advantage of opportunities disguised as hard work.
They take risks that others may not think about.
Rich people don't think inside the box.
They believe there is no box.
The bolder you are, the more you will take advantage of opportunities disguised as hard work.
3. Control your Emotions
All humans have similar emotions.
Avoid giving into fear, desire, laziness, poor habits, and arrogance.
It is how you choose to handle these emotions that separates the rich from the poor.
Control your emotions before they control you.
All humans have similar emotions.
Avoid giving into fear, desire, laziness, poor habits, and arrogance.
It is how you choose to handle these emotions that separates the rich from the poor.
Control your emotions before they control you.
4. Make Your Money Work For You
The rich aren't employees for long.
To become rich, you need to hire others for jobs, not be a job holder.
When you believe a job is the only way to earn money, you become trapped.
A business can give you a lasting income stream.
The rich aren't employees for long.
To become rich, you need to hire others for jobs, not be a job holder.
When you believe a job is the only way to earn money, you become trapped.
A business can give you a lasting income stream.
5. What Matters is How Much Money You Keep
Income does not mean wealth.
And the rich typically save and invest 50% or more of their income.
They know that saving is only temporary.
Plant the seed today to enjoy the shade tomorrow.
Income does not mean wealth.
And the rich typically save and invest 50% or more of their income.
They know that saving is only temporary.
Plant the seed today to enjoy the shade tomorrow.
6. The Rich Acquire Assets
The rich build their wealth by acquiring income-producing assets.
They invest in assets like rental properties, businesses, stocks, and bonds.
With income-producing assets, you could retire and still live comfortably.
The rich build their wealth by acquiring income-producing assets.
They invest in assets like rental properties, businesses, stocks, and bonds.
With income-producing assets, you could retire and still live comfortably.
7. Invest in Yourself
The highest ROI comes from investing in yourself.
"Wealth is information."
The rich invest in learning life skills like communication, understanding people, and managing systems.
You are often just "one skill away from great wealth."
The highest ROI comes from investing in yourself.
"Wealth is information."
The rich invest in learning life skills like communication, understanding people, and managing systems.
You are often just "one skill away from great wealth."
8. Don't Trade Freedom for Money
Working for someone else means you're trading your time for money.
As an employee, your income potential is limited by your employer.
As an employer, your income potential is unlimited.
The more you earn, the more freedom you build.
Working for someone else means you're trading your time for money.
As an employee, your income potential is limited by your employer.
As an employer, your income potential is unlimited.
The more you earn, the more freedom you build.
9. Understand Personal Finance
The rich build wealth because they understand money.
Schools often fail to teach us about money.
If we want to become wealthy, we must re-train our thinking.
"Money without financial intelligence is money soon gone" @theRealKiyosaki
The rich build wealth because they understand money.
Schools often fail to teach us about money.
If we want to become wealthy, we must re-train our thinking.
"Money without financial intelligence is money soon gone" @theRealKiyosaki
10. Never Lose Sight of Your Goal
Life will throw distractions your way, and you have to filter them out.
The rich never lose focus of their goal (financial freedom) and work toward that goal.
If you want to become financially free, start looking for additional income streams.
Life will throw distractions your way, and you have to filter them out.
The rich never lose focus of their goal (financial freedom) and work toward that goal.
If you want to become financially free, start looking for additional income streams.
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Get free access to:
- The latest financial tips
- Wealth building strategies
- Step-by-step investing guides
Learn more
https://themillennialmoneywoman.com/email-landing-page/
