Rich Dad, Poor Dad is one of the best-selling personal finance books of all time. Thanks to its ability to teach the secrets of wealth creation through an engaging narrative read. The book tells the story of a young Robert Kiyosaki’s financial lessons as he grew up with the contrast between his own father, who was an employee, and the father of his best friend, who was a business owner.
For readers who have never been exposed to higher financial concepts, the lessons in this book may be aha moments or eureka moments.
This book does an excellent job of filling a void for young people who did not receive adequate financial education in school or from their parents. Most people learn only two financial lessons during their childhood: go to college and get a good job. The author does an excellent job of demonstrating why this is not the best path to financial success, financial independence, or wealth creation.
If readers want to escape the rat race, they must understand cash flowing assets, business building, and the power of asset ownership.
Here Is Ten key Lessons Of The Book Rich Dad Poor Dad :
- Schools prepare students to be workers rather than entrepreneurs or investors.
- Working to learn new skills is more important than working to make paycheck.
- Assets pay you to own them, whereas debts cost you to own them.
- Before you pay your bills, pay yourself first.
- A resume is not as important as a financial business plan.
- The poor and middle classes look for work, while the wealthy create it.
- For someone with entrepreneurial skills, being broke is a temporary state, whereas having a poor mindset can be permanent.
- Your financial IQ is the combination of bravery, creativity, and financial knowledge that results in skills, assets, and wealth.
- The middle class priorities education, specialization, job security, and retirement with benefits, which is not as secure as they believe.
- The main takeaway from the book is to learn how to make money work for you rather than selling your time for money in a never-ending rat race.
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Amazon fell from $110 to $11 before going to $3,000.— The Prolific trader (@ProlificTraders) October 19, 2021
Bitcoin dropped from $20,000 to under $4,000 before going to $60,000.
Tesla went from $300 to $180 before going to $2,000.
The trick isn’t just picking the right investments; it’s holding them.
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