Robert Kiyosaki is the best known author of the #1 personal finance book of all time: “Rich Dad Poor Dad.” And this book has challenged the way people think about money and he stresses out the importance of Financial Education. This is one of the first personal finance books that I have ever read.
And I say it is a must read!
Today, let’s look at the lessons in his famous book: “Rich Dad Poor Dad.”
Watch the summarized 10-minute video below and learn more about becoming rich than taking a 4-year finance degree. (credits to OnePercentBetter)
Summary: Lessons from Rich Dad Poor Dad
Lesson 1: The rich don’t work for money, money works for them.
The rich people look for ways on how to earn passive income. Their goal is freedom. While most poor and middle class people look for jobs because of security.
Lesson 2: The rich acquire assets
Assets put money into your pocket. While Liabilities take away money from your pocket. The secret of the rich is to know the difference and but assets.
Lesson 3: Understand taxes and the power of corporations
If you are an employee, before your income reaches your hands – the government has already taken the tax from you. While the rich create corporations so they can first declare their expenses before the government gets their taxes.
Lesson 4: Increase your financial intelligence – learning about accounting, investing, understanding markets and the law.
Lesson 5: Don’t work for money, work to learn.
The reason you must go to work (or have a job) is for you to learn. Once you are learned enough, you build your own and grow your own business.
Lesson 6: Five Obstacles holding you back – fear, cynicism, laziness, bad habits and arrogance
And more tips for wealth:
- The biggest asset you have is your mind. Invest in it.
- Failure inspires winners and defeats losers.
- Surround yourself with people who are smarter than you.
- Listening is more important than talking.
- Profits are made when you buy, not sell.
- It’s rare that the asking price is lower than something is worth.
- When aiming to become rich, find a higher reason.
- There is gold everywhere. Most people are not trained to see it.
- Saying “I can’t afford it,” shuts down your brain.
How about you? What have you learned with Robert Kiyosaki’s Rich Dad Poor Dad book? Then, share your thoughts in the comment below.
If you haven’t read it, I highly recommend it to you.
Are you looking for more of my highly recommended books?
Go check out my Passive Income thru Books videos here. This is where I share the books that I read (and lessons inside) related to personal finance, passive income, business and investments.
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