Table of Contents

Is Rich Dad Poor Dad good advice?

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Advice from Rich Dad and Poor Dad’s book:

Adventure and risk are necessary and it is the basis of success. The poor work on the principle of safety and non-adventure, so their lives do not change. Rich Dad and Poor Dad.
You must take advantage of opportunities knocking on your door, as some opportunities come once in a lifetime.
The poor are keen on educating their children and advising them to get a job and earn a steady income, which is what Kiyosaki considers wrong, and he called it the mouse maze. Rich Dad and Poor Dad.
Rich people do not work for money, it is not their ultimate goal, but money is attracted to them in one way or another. Rich Dad Poor Dad.
In the world of money, there is no such thing as luck, but rather there is determination, persistence, learning, repeated attempt, and self-development. Rich Dad Poor Dad’s book.

Rich Dad Poor Dad book summary

The rich make their money work for them.
Financial education is your greatest asset.
Don’t work to earn money; work to learn.
Know the difference between assets and liabilities.
Reduce your spending as much as possible.
Reinvest the profits you make.
Don’t rely exclusively on financial advisors.

What does the rich teach their children about money that the poor and middle class do not?

Written by: Robert T. Kiyosaki. Rich Dad Poor Dad.

In partnership with Sharon L. Lechter.

The story of a rich father and a poor father. Rich Dad Poor Dad

I had two parents, one rich and the other poor. One of them is highly educated, intelligent, and holds a Ph.D., while the other father has never completed his eighth grade.

Both Rich Dad Poor Dad was successful in their field, worked hard all their lives and Rich Dad Poor Dad earned high incomes, one of them struggled financially all his life, while the other became one of the richest people in Hawaii, and one of them died leaving his family tens of millions of dollars and charitable institutions while the other left behind our outstanding debts.

Rich people don’t work to make money “Rich Dad Poor Dad”.

The poor and the middle-class work for money, or the rich, because money works for them.

Most people do not study the nature of money, but go to their work and get paid, then settle their bank balance, and above all this they wonder why they suffer from financial problems and then think that earning more money will solve the problems, but there are few of them who realize that the outcome of their financial studies is the problem.

Why is financial culture studied? “Rich Dad Poor Dad”

It is not the amount of money you make that matters, but the amount of money you keep and make it work for you. Most people fail to realize that how much money you make is not the first consideration in life, but rather how much you keep from it.

You have to know the difference between assets and liabilities and buy the asset

If you want to get rich, this is all you need to know. It is rule number one and it is the only rule.

This is strange, but most people overlook the depth of this rule, most of them struggle financially because they do not know the difference between assets and obligations.

The principal puts money in your pocket, but the opponent withdraws the money from your pocket.

This is all you need to know in words. If you stay to become rich, simply spend your life buying assets. Either you want to be poor or become a middle-class person, spend your life buying obligations.

I have always repeated that we go to school to acquire study skills and professional skills, and that is the agent of both. Important as we learn to make money with our professional skills.

And because students leave schools without knowing financial skills, many of those who have learned work hard in their field and succeed, but later discover that they are financially stumbled because they work hard but do not make progress in their lives. What their education lacks is not knowing how to make money but how to spend it.

Think of your own business “Rich Dad Poor Dad”

Keep your day job and start thinking about your own business, in most cases financial suffering is a product of people who work their whole life for someone else, and many people will find that their employer is getting richer day by day while they have nothing at the end of their days

The current education system is focused on preparing today’s youth to get a good job through study skills, so their focus will be on salary.

The individual needs to think about his own work in order to achieve financial security other than his own income (salary).

History of Taxes and Corporate Influence “Rich Dad Poor Dad”

The knowledge of the strength of the legal structure of companies is what gives the wealthy a huge advantage over the poor and the middle class. Companies have tax advantages, better tax benefits for employees.

The company is not a huge building, a factory, or a group of people (partners) and it is not a real entity, but a legal trust with a lawyer. It creates an entity without spirit.

Rich people make money, spend it however they want, and then pay taxes.

Employees make money for their work, they pay their taxes first and spend what they have left.

Rich invents ways to get money “Rich Dad Poor Dad”

The rich invent the means to get money (ideas, projects, companies, real estate, etc.) while the poor and the middle-class work for it.

Financial intelligence simply means having more options (accounting, investing, markets, laws), and if opportunities are not knocking on your door, what can you do to improve your financial situation?

And if an opportunity came to your door and you did not have the money and the bank did not help you, then you should seize the opportunities and solve your financial problems.

Let your work be for learning, not for making money “Rich Dad Poor Dad”

There is a management theory that says: employees work as hard as they can so that they are not fired from their work, while employers pay them the least they accept so as not to leave their work.

Most people listen to the common advice “work hard and save money,” which is the advice the writer is trying to deny.

If you want to create your future and live a better life instead of working your whole life for a salary, you must develop your financial intelligence.

Overcoming Obstacles “Rich Dad Poor Dad”

Obstacles to achieving financial freedom are:

1. Fear

2. sarcasm

3. Laziness

4. Bad habits

5. Zoom

The Beginning The Ten Steps To Developing Your Financial Intelligence And Getting Wealth “Rich Dad Poor Dad”

The need for a reason beyond reality (faith).
Make a Choice Every Day (The Power of Choice).
Choose Your Friends Carefully (The Strength of Relationships).
Master one method, then learn new ones (the ability to learn quickly).
Do Yourself First (Ability to Commit Personal).
Pay your broker generously (the power of advice).
Be an Indian Giver (the ability to get something in return for giving nothing).
Assets buy you a life of luxury (the power of focus).
Need for Championship (The Power of Legend).
Put in the knowledge and you will get paid (the power of exertion).

Do you still need more?

So here’s some of what you can do

Stop what you’re doing and decide what works and what doesn’t.
Look for new ideas (investment ideas).
Find someone who has done what you want to do.
Attend classes and buy educational tapes.
Make many offers to buy.
Drive or drive around an area for 10 minutes once a month.
Determine what you want and then strive to achieve it.
Do you know why the consumer will remain poor throughout his life?.
Look for opportunities in new areas.
Find someone who wants to buy first.
Learn from history.
Doing something is always better than doing nothing.

Conclusion: How do you pay the expenses of your son’s university education through only seven thousand dollars?

A story Rich Dad Poor Dad told by the writer about his help to his friend in how to collect an amount of more than 400 thousand dollars from the amount of only 7 thousand dollars.

The rich make their money work for them.
Financial education is your greatest asset.
Don’t work to earn money; work to learn.
Know the difference between assets and liabilities.
Reduce your spending as much as possible.
Reinvest the profits you make.
Don’t rely exclusively on financial advisors.