09/30/2023
10 lessons from Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!:
1. The rich don't work for money, they make money work for them. This means investing their money in assets that generate income, such as real estate, businesses, and stocks.
2. Financial education is more important than formal education. The rich teach their kids about money from a young age so that they can make informed financial decisions.
3. The rich focus on assets, not income. Assets are things that put money in your pocket, such as real estate and businesses. Income is what you earn from your job or other sources.
4. The rich leverage other people's time and money. They hire people to work for them and they borrow money to invest in assets.
5. The rich understand the tax code and use it to their advantage. They know how to reduce their taxes and keep more of their money.
6. The rich protect their assets. They have insurance and other financial safeguards in place to protect their assets from loss or damage.
7. The rich work to learn, not to earn. They are constantly learning new things about money and investing.
8. The rich overcome their fears. They don't let fear of failure or loss stop them from taking risks and investing in their future.
9. The rich are patient. They know that it takes time to build wealth. They are willing to invest for the long term and wait for their investments to grow.
10. The rich give back to their communities. They use their wealth to help others and make the world a better place.
These are just a few of the lessons that Robert Kiyosaki teaches in Rich Dad Poor Dad. It is a powerful book that can help you to change your mindset about money and learn how to build wealth.
Please note that some of the advice in Rich Dad Poor Dad has been criticized for being too risky or unrealistic. It is important to do your own research and consult with a financial advisor before making any major financial decisions.
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