14/12/2023
RICH AND POOR DAD
Rich Dad Poor Dad is about Robert Kiyosaki and his two dadsโhis real father (poor dad) and the father of his best friend (rich dad)โand the ways in which both men shaped his thoughts about money and investing.
You donโt need to earn a high income to be rich.
Rich people make money work for them.
The Five Big Ideas
The poor and the middle-class work for money. The rich have money work for them.
Itโs not how much money you make that matters. Itโs how much money you keep.
Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
Financial aptitude is what you do with the money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
The single most powerful asset we all have is our minds.
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Rich Dad Poor Dad Lessons
Lesson 1: The Rich Donโt Work for Money
Lesson 2: Why Teach Financial Literacy?
Lesson 3: Mind Your Own Business
Lesson 4: The History of Taxes and The Power of Corporations
Lesson 5: The Rich Invent Money
Lesson 6: Work to LearnโDonโt Work for Money
Rich Dad Poor Dad Summary
โThere is a difference between being poor and being broke. Broke is temporary. Poor is eternal.โ
โMoney comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.โ
โPeopleโs lives are forever controlled by two emotions: fear and greed.โ
โSo many people say, โOh, Iโm not interested in money.โ Yet theyโll work at a job for eight hours a day.โ
โThinking that a job makes you secure is lying to yourself.โ
โIntelligence solves problems and produces money.โ
โYou must know the difference between an asset and a liability and buy assets.โ
An asset puts money in your pocket. A liability takes money out of your pocket.