Rich Dad Ppt Mms Copy


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Rich Dad Ppt Mms Copy

  1. 1. RICH DAD POOR DAD - Robert Kiyosaki
  2. 2. Team Members: <ul><li>Arshad Sheliya 20 </li></ul><ul><li>Dheeraj Ambilvade 33 </li></ul><ul><li>Dipen Dalal 34 </li></ul><ul><li>Gaurav Kumar 40 </li></ul><ul><li>Huzefa Y.M 45 </li></ul>
  3. 3. Introduction: <ul><ul><li>Rich dad Vs Poor dad </li></ul></ul><ul><ul><li>financial independence </li></ul></ul>
  4. 4. Lesson 1 – The rich don’t work for money <ul><li>Don’t work for money i.e. don’t depend on your boss to make you rich </li></ul><ul><li>Learn how to make money work for you by cutting your expenses moderately, investing wisely and creating opportunities to earn passive incomes outside of salaries </li></ul><ul><li>Seek to be a business owner and/or an investor, rather than an employee </li></ul>
  5. 5. Lesson 1 – The rich don’t work for money <ul><li>The poor and middle class work for money, The rich have money work for them. </li></ul><ul><li>Avoid life’s biggest trap, the trap of “get up, go to work, pay bills, pay taxes, don’t run your lives by fear(of loosing job or getting broke) and greed(of having more and more money)” </li></ul><ul><li>The word emotion stands for “Energy in motion”. Be truthful about your emotions, use your mind and your emotions in your favor not against yourself. </li></ul>
  6. 6. Lesson 2 – Master Financial Literacy <ul><li>Financial intelligence equips you with the what is required to make money that will last for generations, while money without financial intelligence is soon gone </li></ul><ul><li>Financial literacy teaches that it does not matter how much money you make, but how much money you keep </li></ul><ul><li>It also teaches that Investments can be made at each income level and if you invest today you will guarantee your financial future </li></ul>
  7. 7. Lesson 2 – Master Financial Literacy <ul><li>Differentiate between an asset and liability , and invest in assets. Assets generate income, while liabilities generate expenses; </li></ul><ul><li>“ If you want to be rich, you’ve got to read and understand numbers.” </li></ul><ul><li>“ An intelligent person hires people who are more intelligent than they are.” </li></ul>
  8. 8. Lesson 3 – Mind Your Business <ul><li>Mind your own business. i.e. while excelling with your qualifications and keeping your day time job, also look for other opportunities elsewhere to accumulate wealth </li></ul><ul><li>Do not depend only on a salaried job, or else you will continue to work for your boss, the government and the banks (if you have taken a loan), with little or nothing left to invest in yourself </li></ul><ul><li>Some sources of unearned income: </li></ul><ul><ul><li>Dividends </li></ul></ul><ul><ul><li>Interest Payments </li></ul></ul><ul><ul><li>Rent </li></ul></ul><ul><ul><li>Royalties </li></ul></ul>
  9. 9. Lesson 3 – Mind Your Business <ul><li>There is a difference between your profession and your business, your profession might be anything(sales, lawyer, chef, auto mechanics…) that’s your education and your interests prepare you for …., but your business is always accumulation of value adding assets… </li></ul><ul><li>For eg. Profession of Ray Kroc(founder of McDonalds) was sales….but his buisness focussed on buying real estate assets around McDonalds Outlets </li></ul>
  10. 10. Lesson 4 – Learn to minimize the taxes you pay <ul><li>There are mainly four areas to expertise financial IQ. </li></ul><ul><ul><li>1) Accounting </li></ul></ul><ul><ul><li>2) Investing </li></ul></ul><ul><ul><li>3) Understanding Markets </li></ul></ul><ul><ul><li>4) Law </li></ul></ul>
  11. 11. Lesson 4 – Learn to minimize the taxes you pay <ul><li>Individual v/s Corporation </li></ul><ul><ul><li>As an individual, your income is taxed, and what you have left is your disposable income </li></ul></ul><ul><ul><li>As a corporation, you first make your money, then you take out your expenses. The profit is what is taxed, hence you pay less tax </li></ul></ul>
  12. 12. Lesson 4 – Learn to minimize the taxes you pay <ul><li>If we work for money, we give the power up to our employer. </li></ul><ul><li>If our money works for us, we control the power. </li></ul>
  13. 13. Lesson 5 – The rich invent money <ul><li>Use other people’s money to create a financial empire for yourself without necessarily using yours </li></ul><ul><li>The earnings from the assets (investments) should be enough to fund your expenses </li></ul>
  14. 14. Lesson 5 – The rich invent money <ul><li>Seek to attain a point where if you resigned from your job, you could fund your lifestyle using unearned income from your investments </li></ul><ul><li>Invest more to upgrade the financial intelligence one has, which indirectly develops the asset of an individual. </li></ul>
  15. 15. Lesson 6 - Work to learn, don’t work for money <ul><li>Don’t grab a job for what you can earn, pick a job to learn about business systems, about managing people and other skills that would prepare you to run your own business, or manage your own investment </li></ul><ul><li>Money can be illusion that clouds good judgment. Fear and greed do not allow people make rational decisions </li></ul><ul><li>There is a myth that in order to earn more , you need to specialize (learn more and more about less and less) ,,in any field, accounts, lawyers, science and tech…..In order to be rich you have to do exactly opposite. i.e. know a little about a If you work in every dept. of a company for a while, you understand the functioning of company in whole. </li></ul>
  16. 16. Lesson 6 - Work to learn, don’t work for money <ul><li>In addition to being good learners, sellers and marketers we need to be good teachers as well as good students. </li></ul><ul><li>In order to be truly rich, we have to be able to give as well as receive. </li></ul>
  17. 17. CONCLUSION <ul><li>Let the Money work for you. </li></ul><ul><li>Upgrade your knowledge of Accounting </li></ul><ul><li>Taxing and Law. </li></ul><ul><li>Learn to earn from Indirect sources without puttin in Time. </li></ul>
  18. 18. <ul><li>Search for new business avenues,new financial ventures. </li></ul><ul><li>Work for yourself first….not for banks or government. </li></ul><ul><li>Don’t work for Pay cheques..but for understanding business processes as a whole. </li></ul>
  19. 19. THANK YOU…..