Rich Dad Poor Dad Analysis

Rich Dad Poor Dad Analysis
Rich Dad, Poor Dad Throughout reading this novel I have gained a lot of useful information that has helped me in my day to day life as well as
future goals. I am striving to incorporate several key ideas I've learned from Rich Dad, Poor Dad into my life so that I can become a more
successful individual. The first principle I gained was that anyone or anything can be your teacher. I look back throughout my life and I can see many
different teachers and why some were more effective than others. In the gospel, one of the greatest teachers we have is the Holy Ghost. When we
allow ourselves to be open to Him and are prepared to be taught, we receive inspiration and insight into the things we desire to understand. Scriptures
are another...show more content...
We are a gospel that truly understands the value oflearning and being life–long learners. Knowledge is one of the only things we bring with us in the
life to come, so we must make use of the time we have here to expand our knowledge. I would rather know and have many different skills when I
pass from this life than a large sum of money. Also, knowing a lot of different skills will help me to be successful in my financial pursuits. This
novel also discusses the significance of keeping expenses low. This is perfectly aligned with what many prophets have counseled saints. In
church, we discuss the value of practicing our beliefs so that we can gain a deeper understanding of the truths they hold, and when we take heed to
promptings about saving and keeping expenses low, we are free from the burden of debt and anxieties that accompany it. I know many people in my
life who enjoy shopping with me because I am great at finding deals and lower priced options for products. For example, I know I need to buy food on
a regular basis. When there are specific things I need or want to buy, then I can look for different deals at different stores as well as what coupons are
available. I don't drive a flashy and expensive car, but a practical and reliable one. The last principle I would like to focus on is how failure changes us.
When we fail, one of two things happens; we learn from it, or are defeated by it. In the gospel, we
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What Does Rich Dad Mean To Me Essay
I read Rich dad poor dad book about 4 years ago, it did not really hit me the importance of taking control of your financial life.
It was until 2 years later, while having to sit at home most of the time due to a surgery I had on my leg, I read the book, Rich dad poor dad, again.
This time around, one of the best things happened to me. My life has changed since. I started to look at things differently and positively. Life began to
have more meaning and purpose rather than leading aimlessly. Something had happened to me.
My mindset has changed. I began to look at life as a learning process. I realized I can make choices for who I want to be. I began to want to learn more.
I read more about successful business people like Warren Buffet and Donald Trump. I began to enjoy learning about how these people think.
Recently, while I was sitting down in a plane on my way back from...show more content...
Due to the Rich Dad education and playing educational games such as cash flow 101 game, I am able to understand better business languages better. I
felt that the education has been priceless. It led me to wanting to learn more. It has encouraged me to learn more about public speaking, leadership
training, mental strength training, sales training,real estate, internet business,entrepreneurship and home based business.
Through these experiences, it had taught me that learning never stops and you have to step out of my comfort zone like speaking in public and
networking with people to learn and grow. The business lessons I had were never smooth. But through learning from mentors such as entrepreneurs
and books and the Rich Dad education, it has encouraged me to widen my knowledge and learn from others. That is beauty of it, I keep on learning in
business and life. I felt that you can grow tremendously from such education,learning never stops and every day you are learning new

Why Is Rich Dad Poor Dad Teach To Be Rich
Rich Dad Poor Dad: Teach to Be Rich
Only Lazy People Use Their Own Money
Why the Rich are getting Richer... One reason is, the rich know that debt is really an asset, as well as a liability. Debt could be the biggest asset in the
world. Your home mortgage is a liability to you but anasset to the bank. The same principle applies to your car loan, the car isn't the asset you are,
because according to the dealership and the bank their profit relies on your ability to pay for the vehicle plus interest and that's where they make the
most profit. The rich understand this, and flip it to where, assets are paying for the liabilities rather then money out of there own pocket. For instance, if
you go and purchase a due–plex, the income from it is passive income, money you don't have to work for. This is an asset, so if you bought a...show
more content...
On the other hand, paying out of pocket is when you use earned income to purchase a liability. Money that you spent hours in the day to earn. This is
where most people go wrong, they have this illusion that if they make x amount of dollars they automatically turn towards all of the liabilities they
could purchase, rather then purchasing an asset to pay for the liability. The rich fully understand this and this is just one prime example why the rich
are getting richer.
Why the poor and middle class get poorer... Thinking back on the last paragraph and keeping it in mind, lets look at the poor and middle class and
why they get poorer over time. Start at the beginning, with a young man eager to get his first job to conceive an understanding of a good work ethic.
Has it goes, he acquired a job and quickly made his way up the work chain, accomplishing store manager. With this

Book Report on Rich Dad Poor Dad
KNUTSFORD UNIVERSITY COLLEGE KNUTSFORD BUSINESS SCHOOL ENTERPRENEURSHIP BOOK REPORT: Rich Dad Poor Dad by
Robert T. Kayosaki with Sharon L. Lechter, CPA WRITTEN BY: Richmond Gyamfi Boateng (KBS0035) LECTURER: MR. ANTHONY ANNAN
MONDAY APRIL 4, 2011 Rich Dad Poor Dad is a book that presents thought provoking teachings on wealth creation and financial independence.
The book can be describes as a narrative motivational novel that features four interesting characters, Rich Dad, Poor Dad, Mike and Robert (the author).
Poor Dad is a highly educated professor who despite have worked hard over the years barely meets his household expenses. His believe on money was
that money is root of all evil. Rich Dad on the flip side was a school...show more content...
"I don't like being an employee". 2. Use the power of choice, daily. You can choose to watch GTV, or watch TV3. It's how you choose to use your
time and energy everyday that brings financial success in the long run. 3. Choose your friends carefully. It pays to have friends who are focused and
achieving their goals. Surround yourself with friends you can learn from. 4. Master a formula. Learn a new one, and learn fast. 5. Pay yourself first.
Practice self–discipline by keeping expenses low. Tenants can pay for your expenses if you rent out apartments or ministorage, for instance. Savings
are used for investing and creating more money, not for paying bills. 6. Pay your broker well. Attorneys, accountants, stockbrokers, and real estate
brokers will have more incentive to work harder for you. If they make more money, it means you make more money as well. 3–7% is a good incentive.
7. Be an Indian giver. It's the concept behind ROI. (Return on investment) Invest and then take the initial money out after a time when the
investment has earned for you. 8. Buy luxuries last. Let the income from your growing assets afford you the new car. Wait for your asset base to
grow first. Middle class people buy luxuries first, on credit. 9. Find yourself a hero. When you play golf you can imagine you are Tiger Woods. When
you do business, you can ask yourself, "What would George Soros have done if he was in my place right now?" 10. Teach

Think And Grow Rich Book Report
This year I had the pleasure of reading Napoleon Hill's book entitled Think and Grow Rich, a book inspired by Andrew Carnegie that reveals how
numerous pioneers of industry grew their wealth over time. Since reading this book, I have made a habit of setting clear, achievable goals and using
visualization techniques and unwavering persistence to see these goals become reality. Other titles of books I have read this year for pleasure include:
Cosmos by Carl Sagan, Modern Romance by Aziz Ansari, For the Love of Physics by Walter Lewin, Get Rich with Dividends by Marc Lichtenfeld,
and Seven Elements that Changed the World: An Adventure of Ingenuity and Discovery by John

As a Symbolic Analyst In the book by Jacobus, A World of Ideas, Robert Reich writes the article, "Why the Rich are Getting Richer and the Poor,
Poorer", and he uses a metaphor to describe the three economic groups that are now in different boats. He compares how the routine producers' boats
and the in–person servers boats are sinking while the symbolic analyst is rising. He also discusses how immigration, and technology competes for the
job of routine producers and in–person servers while the symbolic analysts are in such great demands. Robert Reich is correct about the symbolic
analyst have the potential to become wealthy and it is expected for them to have high level education and job experience: for example, being a student
is considered as an in–person server but taking high education, such as nursing, will make them be identified as a symbolic analyst. Symbolic analysts
create ideas, identify and solve problems which makes them wealthy. Compared to the other groups, the routine producers and the in–person servers,
symbolic analysts acquire more money because of the ideas they are selling. This is the main reason why symbolic analysts' boat is rising compared
to the other groups. Reich claims that they sell their discoveries to global enterprise webs. For example, according to Reich, architect and engineers
design buildings and roads, which they sell in big cities. They issues designs and blueprints for museums, art galleries, hotels, houses, shopping malls
and

Ten Key Lessons From The Famous Book Rich Dad Poor Dad.
Lesson one; those who are rich don't work for money
Robert Kiyosaki, the author explains that there is a very big difference between those who work for money and those who let money work for them.
He explains that the poor and the middle class work for money in order to satisfy their needs. This needs include, paying debts, buying food, paying
rent, paying allowances. This people work for money because they have the fear of not having money to pay debts and these allowances. On the other
hand the rich don't work for money. They let money work for them. This is because the rich have income generating assets that bring income. So they
let money work for them.
Lesson two; it's advisable to mind your own business
The author explains that minding your own business means that you are your own boss. One is minding his personal business. He explains that one
might be a banker but not own the bank. So he is literally making the owner of the banker rich. He further explains that one should let his asset
generating column big rather than the income column. Minding your own business help one focus more on your asset generating column and thus one
expands his/ her business. One should focus on businesses that don't require ones presence. Some of the businesses include; buying stocks, bonds,
royalties.
Lesson three; taxes and the advantages of corporations
The author explains that the rich are not taxed. Those who are mainly taxes

Book Report on Rich Dad Poor Dad
KNUTSFORD UNIVERSITY COLLEGE
KNUTSFORD BUSINESS SCHOOL
ENTERPRENEURSHIP
BOOK REPORT:
Rich Dad Poor Dad by Robert T. Kayosaki with Sharon L. Lechter, CPA
WRITTEN BY:
Richmond Gyamfi Boateng
(KBS0035)
LECTURER:
MR. ANTHONY ANNAN
MONDAY APRIL 4, 2011
Rich Dad Poor Dad is a book that presents thought provoking teachings on wealth creation and financial independence. The book can be describes as
a narrative motivational novel that features four interesting characters, Rich Dad, Poor Dad, Mike and Robert (the author). Poor Dad is a highly
educated professor who despite have worked hard over the years barely meets his household expenses. His believe on money was that money is root of
all evil. Rich Dad on the flip side...show more content...
The rich then adopted the concept of corporation as tax shield. This is because, corporations have the luxury to spend all it and the rest taxed.
Individuals do not have that privilege. Therefore the rich formed corporations and thereby transferred their entire tax burden to these corporations. So
whilst the individual is taxed in his or income before he or she can spend them the rich get the privilege of spending all they can before being taxed.
Through this lesson, Robert encourages readers to take advantage of the tax benefits of corporations by forming one.
Lesson Five: The rich invent money

Robert page 140, paragraph one states that, "we all have tremendous potential and well are blessed with gifts. Yet, the one thing that holds us back is
some degree of self doubt. It is not so much the lack of technical information that holds us back, but more the lack of self–confidence". This quotation
attests to the importance of believing in the potential, power of imagination and creativity of oneself. He points out that, life outside school is
different and that it takes people with "balls" and "guts" who can make on the job market. He stresses that, excessive fear and self doubt are the
greatest detractors of personal genius. In concludes, "in the real world, it is not the smart that gets ahead, but the bold".
Lesson six: Work to learn–don't work for money.
In this

The Dumbest Generation, Rich Dad and Poor Dad, and Macbeth were some of the required readings that I thoroughly enjoyed in the past year. The
Dumbest Generation really opened my eyes to the detrimental effects of the misuse of technology especially on academics. Rich Dad and Poor Dad
really motivated me to never render myself into categories and suppress my potential and abilities because in the book which was narrated by the
poor dad, it emphasized how anything is possible with perseverance and determination. The narrator explained his journey from being a poor dad to
becoming a rich dad. Macbeth is a classic which is known and loved by many. In my case, Macbeth quickly became one of my favorites due to the
story line which had a lot of twists

Rich vs. Poor Essay
Rich vs. Poor A man's economic status is based solely on his wealth and his material possessions, or lack thereof to define him as being "rich" or
"poor." Similarly, these two words, "rich" or "poor," should also describe a man's character. Rich is characterized as having a lot of money or
possessions: valuable, meaningful, or significant. Poor is characterized as deficient in amount or indicating poverty. Yet, when we look at a man or
woman, do we judge them by their wealth or by the "richness" or "poorness" in their character?
Through observations of the rich, a man or woman who has obtained richness often times are lacking in character traits that makes up a good man or
women. For example, Donald Trump as a...show more content...
Consequently, a man who is "poor" in material possessions many times is "rich" in character, which is spiritually defined as the nine fruits of the spirit:
love, joy, peace, longsuffering, kindness, goodness, faithfulness, and self–control. Having friends and family members who grew up poor and who
worked hard to survive to obtain material possessions, their character was strengthened or made "rich" as a result of it. They had to do the jobs that
many rich people would never do, such as being a maid, construction worker, janitor and many more domestic type jobs. Although they differ in
terms of definition, being "rich" and being "poor" in character can be one of the same as "poor" in spirit or humble. For example, my great
grandmother was an Indian who was very poor, but you never would have known it because she was humble, kind, loving and a peaceful woman who
always shared everything she had.
Without a doubt, those who are "rich" and those that are "poor," in terms of material possession, share a similarity: the desire to be rich or richer. No
one really wants to be "poor." Those who are rich are rich through inheritance or have mastered the know–how to become rich. Such as Prince Williams,
who obtained his wealth from his mother and father, Princess Diana and Prince Charles of Whales.
Those who are poor have lived in poverty, for the most

Rich Dad Poor Dad (Book Review)
Rich Dad Poor Dad by Robert T Kiyosaki
* The book Rich dad poor dad is the 1# New York Times the Wall Street Journal seller. * The tag line of the book "what the rich teach their kids about
money– that the poor and middle class do not!" says it all, what the entire book is about. * The book Rich Dad poor Dad tells us about the difference
between what a rich dad teaches to his child compared to what a poor dad teaches. * It tells about a story in which the narrator has two fathers one
was the original father who is referred as the poor dad and the other is his friend mike's father who is referred to as the rich...show more content...
* It is by this knowledge that the rich are able to generate their assets. * The author goes on to say that an individual earns money pays taxes and lives
life with the money that is left whereas the corporation earns money spends the earned money n pay taxes on the money that is left. * Thus it can be
concluded that this short chapter talks about the advantages of forming a corporation
Chapter 6: The Rich Invent Money:
* In this chapter the author goes into the details of all his experiences over the years to show that how easily any person can invent money once you
are financially literate. * The author feels that every person has some or the other talent with which he is born the problem is that he does not use this
talent because of self–doubt and fear. * The author says that some people have the money and the ability,but they don't take risk due to the fear of
rejection. * The author's idea is that people should create luck; they should not wait for it. He relates the same thing to money according to him
money should also be created. * He also describes the importance of education in this chapter and he thinks that a trained mind is a rich mind. *
According to the writer an intelligent individual builds his own knowledge base and therefore has more power over those who don't.
Chapter 7: Work to Learn, Don't work for money:
* In this

Rich Dad, Poor Dad Book Review
Does school prepare children for the real world? "Study hard and get good grades and you will find a high–paying job with great benefits," my parents
used to say. Their goal in life was to provide a college education for my older sister and me, so that we would have the greatest chance for success
in life. This is the introduction to the book Rich Dad Poor Dad by Robert T. Kiyosaki. This is especially true in the context of Asian countries where
most of us are told to cram for exams, get good grades (top the class if possible) and jobs with fat paychecks and benefits. Though times are changing
and so are people, there are some classic mindsets that we yet harbor–If my kid doesn't get an "A" in mathematics and science how will (s)he be...show
more content...
The rich do not pay high taxes because they invest their money in tax saving assets and lower their taxable income by showing expenses. So, to
summarize The Rich People With CorporationsThe People Who Work for Corporations 1. Earn1. Earn 2. Spend2. Pay Taxes 3. Pay Taxes3. Spend
Lesson #5 The Rich Invent Money In the real world, it is not the smart that get ahead but the bold. The author feels that financial genius requires both
technical knowledge as well as courage. Rich people are often creative and take calculated risks. In this chapter Robert shows how understanding
basic financial numbers can help in attaining financial success. Lesson #6 Work to Learn Don't Work for Money Most people need only to earn and
master one more skill which would increase their income exponentially.Te author mentions that financial intelligence is a synergy of accounting,
investing, marketing and law which when combined help making money easier. Robert's rich dad taught him that one should not work only to earn
money but to learn a little about a lot. People get trapped in endless rat races and think about paying their bills all the time.Most of us look forward to
our pension after retirement which hardly serves the purpose at that time. The world is full of talented poor

Lessons of Rich Dad Poor Dad
Rich Dad Poor Dad
In Rich Dad Poor Dad a lot of useful tips can be pulled from the reading. Robert T. Kiyosaki has taught me many things about the importance of
financial literacy and smart spending. After reading this book I now feel I can make better decisions with my money that will help me throughout my
life. I believe that I now have the upper hand when it comes to financial planning and my financial future. I feel that I now have the knowledge many
people will never be blessed with.
Lesson #1: I need a reason greater than reality.
My reason to be wealthy is simply to live the lifestyle I want to live at an early age. I want to travel, shop, and be pampered. I want to be in control of
my money and in turn, my life. I want to...show more content...
I want to be able to have enough money to buy nice things and not lose sleep over my latest purchase. I want to invest money that I earn to make
more. In the end I will have enough money to live the lifestyle that I have always dreamed of.
Lesson #9: The need for heroes. I have financial heroes. My dad is one of them. My father works hard at his job. He has earned a position in which he
is paid lots of money, has very flexible hours, is well educated, is respected, and is always first for promotions and raises. My father's financial success
is a good thing for me to see. I can model my own financial plan and education after his and seek advice from a man who is successful in saving and
spending his money.
Lesson #10: Teach and you shall receive. I believe that everything you do comes back to you in the end. I believe that this statement is true with
money as well. If you are kind, kindness will come back to you. I always treat people the way I would want to be treated and most times I am treated
very nicely. If Robert thinks that you must give money to make money I will agree with

Book Review Of Rich Dad Poor Dad
Rich Dad Poor Dad Book Review The book is the account of a man (the storyteller and writer) who has two fathers: the first was his organic father –
the poor father – and the other was the father of his youth closest companion, Mike – the rich father. The two fathers instructed the creator how to make
progress however with extremely divergent methodologies. It ended up noticeably obvious to the creator which father's approach appeared well and
good. All through the book, the writer thinks about the two fathers – their standards, thoughts, budgetary practices, and level of dynamism and how his
genuine father, poor people and battling however very taught man, withered against his rich father as far as resource building and business...show more
content...
The writer presents six noteworthy lessons which he talks about all through the book which was the wealthy don't work for cash, the significance
of money related education tending to your very own concerns, expenses and companies, the rich design cash, and the need to work to learn and
not to work for cash. It is a decent book. It discloses to us that budgetary training is an unquestionable requirement and outlines money related ideas
in a fairly understandable manner. It lets us know not to be satisfied and depend on our wages as principle wellspring of salary yet rather utilize and
free our psyches to locate the numerous open doors that are really present surrounding us. It additionally reveals to us that anybody can be rich, with
the best possible attitude and money related training, even without stellar evaluations in school. To be fruitful, it doesn't just imply that one is
scholastically shrewd however ought to be road brilliant and know every one of the ideas of exchange and their impediments. At the point when
Robert was telling about settling on decisions and thinking about a few thoughts, one could find that some of these may not really work for a few of
us but rather having the fundamental things builds our odds for progress and more invaluable results. It's a well written book however there were
indicates that are not be fully trusted but rather we ought to rather keep a level of incredulity with regards to the legitimacy of some of

My Dad : An Early Age
Hello. It is wonderful to see family, extended family, relatives, and friends who are here today for my Dad. Thank you all for coming. I haven't yet
come to terms with the fact that I will never have another conversation with him and I am sure some of you feel the same. Dad was born in 1927,
and I think some of his admirable traits were apparent from an early age. He was a great dad to Linda, Steve, and I as we were growing up on Auburn
St by the river.
Always a tinkerer, one could find him under the hood of some old clunker that he was fixing up as the family car to save money. If he wasn't under the
hood of a car, he would be working on one of our bicycles. He also seemed to like painting, as evidenced by the fact he painted our kitchen annually. I'm
not sure why it was always painted yellow.
As I mentioned, we grew up beside the river, and we all loved swimming. Except Dad. As far as he was concerned, water was for bathing or
cooking. Nonetheless, he built a dock for us to dive from and tie up our boat. Of course, boats didn't come along until we kids were old enough
and safe to be on the water in a watercraft. Dad certainly loved woodworking. As young kids, I thought we had taken after him when we built a raft
out of old lumber, logs, paper, and whatever else we could find. Positive that Dad would be proud of our woodworking skills, we took him to the
river to see our masterpiece. We didn't get the reaction we were expecting. He cut the ropes on our raft, letting the

Literary Analysis Of 'Rich Man, Poor Man'
Mahima Parvin
John Remarek
Language and composition
9 December 2017
The literature Analysis
What is the definition of money in your opinion? Is that money could represent to the man? Would he come to a rich man or remain the same poor?
"Rich Man, Poor Man"
People always having a different way to live. This is according to the condition that they had grown in their own society, place and time. The story
"Rich Man, Poor Man" is not only pointing to the different class of people in the community. But it was referring to the old man, who is uneducated
man travel to the city to received 100 pounds that his son had sent to him from London. Therefore, he was struggling to receive money because he did
not know the process to get the money from the money transferring office. Also, he did not know how to read the numbers of the money. For this
reason, people took advantage of him. And this old man becomes poor again. According to the story above, the author wants to show how it is unfair
that educated people try to take advantage of Adam.
To start at the beginning them of the story, it was showing the reality of society. It was not modern time and people are literacy. Most of them cannot
write and read the letter well. But only the particular people like the school teacher who can read the letter that Saul send to his parent at the Darfur,
"I am sending you 100 ponds (5). The school teacher helps me by translating the meaning from the letter and told him to get money from the post
office in the city. And "the post office official will give you the money" (6) Then he left, and both of this could couple seem very excited and hopeful.
Secondly, this story is also showing the poverty of people in the village. Most people were very exciting for Adam and Martha, because their son,
Saul is sending the money. So, that they would be poor again. However, these people and include of Adam and Martha did not realize about the hard
work of their son. He was working in the factory. He was working overnight often. It was a difficult job. But since they are very poor and they used to
work on all this experience so, in their environment, this hard work was just simply in their life.
Third, in the story was showing the rule and

Rich Dad Poor Dad Summary
RICH DAD POOR DAD
This book basically introduces the principles of investing, and tells why investing is so important. It also introduces the fact that you need not to earn
high to become rich. This book is meant for those people who don't have or have little knowledge about finance and investment. This will help them to
learn the basic rules of investing alongwith financial education.
Robert Kyosaki, the author of this book tells about his learnings from two role models, one, his own dad who is poor and other his friend's dad, who
is one of the richest people in Hawaii. The author has learnt different ways of observing things and learnt the tactics to handle such situations. Each
Dad had a very different attitude and approach towards...show more content...
Though expensive, they will save you a lot more money than they cost.
Other lessons that Author learnt:
п‚§Having a lot of money on hand gives you power in business deals.
п‚§In real estate, there are many good bargains to be had from landlords who are sick of the business, even if they own good properties.
п‚§The investments are often very risky but also have huge profit potentials.
Lesson 5: The rich invent money
The author learnt that taking risks is one of the important means of inventing money and becoming rich. The more we develop our financial IQ, the
more we earn money.
Lesson 6: Work to learn, don't work for money
Having a high IQ and/or a high level of education is no guarantee of wealth. After college, the author got a high–paying job working for the merchant
marine, but he quickly quit to join the Marine Corps, where he became a naval aviator. Poor dad thought this was a reckless and stupid choice whereas
Rich dad liked it. In reality, the author went from job to job in order to gain different types of skills and experience that would help him later on as a
businessman: The merchant marine taught him about international trade, the Marine Corps taught him leadership, and Xerox taught him how to be a
salesman.
The lesson: Choose a career path that teaches you valuable skills and knowledge that you can use for your own business and investments. Have a plan.

Don't be afraid to switch jobs.
Ending notes:
The

Lessons Learned In Rich Dad, Poor Dad
Introduction
Rich Dad, Poor Dad is a book that educates readers about financial literacy. Robert Kiyosaki, the author, has two dads– one rich and one poor,
although the rich dad is not his, but his friend's dad. Both dads have different views about earning money, and Robert had the choice of contrasting
both views while growing up. His rich dad's views were more powerful and useful to Robert. The author guides the reader through six main lessons his
rich dad taught him on how to let money work for you, instead of working for money.
Lessons
Lesson 1 – The Rich don't Work for Money
"The poor and the middle class work for money. The rich have money work for them."
The first lesson focuses on the two reasons behind poverty and unhappiness...show more content...
Rich who own corporations:
1.Earn
2.Spend
3.Pay taxes
People who work for corporations:
1.Earn
2.Pay taxes
3.Spend
Lesson 5 – The Rich Invent Money
"When involved in big business deals, your guts can correlate with your financial intelligence in a very odd way."
This lesson shows how having faith and courage in yourself will lead to your success. Control your fears, instead of playing it safe and letting your
fears control you. You should welcome changes and not be afraid of them. We are in a continuous cycle of change. Changes are becoming faster and
more dramatic as time passes. With changes, there's comes an increase in multimillionaires, leaving others behind. These multimillionaires were the
ones who were confident and were willing to take risks.

If you are financially literate, you will be able to forget your fears and be more confident. Financial intelligence is made up of four main technical skills:
1.Financial Literacy – the ability to comprehend numbers
2.Investment Strategies – science of money making money
3.The Market – the law of supply and demand
4.The Law – accounting, corporate, state and national rules and regulations
Lesson 6 – Work to Learn. Don't work for Money
"Use jobs not as sources of income, but sources of knowledge."
The last lesson shows readers the importance of learning from a job instead of just working for the money. You should look for a position in which
you will be able to learn essential skills required to

Rich Dad Poor Dad Reflection
Verania, Angelica M. BSA 2
–10
ECON 2013 Prof. Aileen Camba
"Rich Dad Poor Dad" Summary
Robert Kiyosaki has two fathers, one is his poor dad and the other one is his rich dad. His educated dad whom he calls his poor dad is his biological
father and his rich dad is MikeвЂџs, his best friend, father. Both have their own perspective about money and both have different principles in life.
As a kid, Robert wanted to know how to get rich because they were tired of other kids not wanting to play with them because they were 'poor kids'.
His educated dad told him to learn how to make money. Since he was still a kid that time, he and his best friend Mike came up with a plan of literally
making their own money. His educated dad and suggested to...show more content...
Why Teach Financial Literacy? School prepares us for our future careers. We were taught by our parents to go in school, get high grade, get a college
degree and get a safe and secure job. What the school doesnвЂџt teach us is how to be financially literate. How to handle money and how can money
works for us. A big part of the population doesnвЂџt know that there are many different ways of earning money besides getting a safe secure job. This
chapter of the book tells us how rich people and poor and middle class people handle their money. The first rule is to distinguish between assets and
liabilities. Assets for the rich are those who generate money. The poor and middle class often mistakenly distinguish their liabilities as their assets.
For example, a middle class man distinguishes his/her personal car as an asset but what his/her car only do is taking away money from his pocket.
His/her money was spent for car loan. This doesn't mean not to buy a home or car, just think don't think of them as assets because what they only do
is take away money from your pockets. An asset earns you money and a liability burns your money. Keep you assets bigger than your liabilities and
keep your income higher than what you spend. ThatвЂџs what rich people always do. Mind Your Own Business In this chapter, the author slowly
introduces the concept of real estate investing and uses McDonaldвЂџs as an

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