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Rich Dad, Poor Dad

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Rich Dad, Poor Dad

  1. 2. Rich Dad, Poor Dad What the Rich Teach Their Kids About Money – That The Poor and Middle Class Do Not! AUTHOR: Robert T. Kiyosaki PUBLISHER: Warned Books DATE OF PUBLICATION: 2000 NUMBER OF PAGES: 207 pages Book pic
  2. 3. <ul><li>A job is a short-term solution to a long-term problem. </li></ul><ul><li>A highly paid slave is still a slave. </li></ul><ul><li>Why climb the corporate ladder when you can own the ladder? </li></ul><ul><li>You are what you think. </li></ul>THE BIG IDEA
  3. 4. Lesson 1: The Rich Don’t Work For Money <ul><li>Work to Learn. </li></ul><ul><li>Some people quit a job because it doesn’t pay well. Others see it as an opportunity to learn something new. </li></ul>
  4. 5. Lesson 2: Why Teach Financial Literacy? <ul><li>They don’t teach financial literacy at school. </li></ul><ul><li>Steps to get out of the proverbial rat race: </li></ul><ul><ul><li>Understand the difference between an asset and a liability. </li></ul></ul><ul><ul><li>Concentrate your efforts on buying income-earning assets. </li></ul></ul><ul><ul><li>Focus on keeping liabilities and expenses at a minimum. </li></ul></ul>
  5. 6. Lesson 3: Mind Your Own Business <ul><li>Keep your day job but start minding your own business. </li></ul><ul><li>Don’t spend all your wages. </li></ul><ul><li>Build a good portfolio of assets. </li></ul><ul><li>Spend later when these assets bring you greater income. </li></ul>
  6. 7. Lesson 4: The History of Taxes and the Power of Corporations <ul><li>Use the Corporation to shelter yourself from heavy taxation. </li></ul><ul><li>Do your own research and find out what tax laws will bring you the best advantages. </li></ul><ul><li>Pay yourself first! </li></ul><ul><li>Key Financial IQ Components: </li></ul><ul><ul><li>Accounting </li></ul></ul><ul><ul><li>Investment Strategy </li></ul></ul><ul><ul><li>Market Behavior </li></ul></ul><ul><ul><li>Law </li></ul></ul>
  7. 8. Lesson 5: The Rich Invent Money <ul><li>Make good use of your time and find the best deals. </li></ul><ul><li>Identify an opportunity everyone else has missed. </li></ul><ul><li>Two Types of Investors : </li></ul><ul><ul><li>Buyers of Packaged Investments. </li></ul></ul><ul><ul><li>The Professional Investor </li></ul></ul><ul><ul><ul><li>Identify an opportunity everyone else has missed. </li></ul></ul></ul><ul><ul><ul><li>Raise capital </li></ul></ul></ul><ul><ul><ul><li>Organize smart people </li></ul></ul></ul>
  8. 9.   Lesson 6: Work to Learn –Don’t Work for Money <ul><li>Learn skills like PR, marketing, and advertising. </li></ul><ul><li>Take a second job if it means learning more. </li></ul><ul><li>Three Main Management Skills: </li></ul><ul><ul><li>Management of Cash Flow </li></ul></ul><ul><ul><li>Management of Systems </li></ul></ul><ul><ul><li>Management of People </li></ul></ul>
  9. 10.   Lesson 6: Work to Learn –Don’t Work for Money <ul><li>Five Obstacles to Financial Independence </li></ul><ul><ul><li>Fear. </li></ul></ul><ul><ul><li>Cynicism. </li></ul></ul><ul><ul><li>Laziness. </li></ul></ul><ul><ul><li>Bad Habits. </li></ul></ul><ul><ul><li>Arrogance. </li></ul></ul>
  10. 11.   Lesson 6: Work to Learn –Don’t Work for Money <ul><li>Ten Steps to Awaken Your Financial Genius: </li></ul><ul><ul><li>Find a reason greater than reality, a big dream. </li></ul></ul><ul><ul><li>Use the power of choice, daily. </li></ul></ul><ul><ul><li>Choose your friends carefully. </li></ul></ul><ul><ul><li>Master a formula. Learn a new one, and learn fast. </li></ul></ul><ul><ul><li>Pay yourself first . </li></ul></ul><ul><ul><li>Pay your broker well. </li></ul></ul><ul><ul><li>Be an Indian giver. </li></ul></ul><ul><ul><li>Buy luxuries last. </li></ul></ul><ul><ul><li>Find yourself a hero. </li></ul></ul><ul><ul><li>Teach and you shall receive. </li></ul></ul>
  11. 12.   Lesson 6: Work to Learn –Don’t Work for Money <ul><li>Ten Steps to Awaken Your Financial Genius: </li></ul><ul><ul><li>Find a reason greater than reality, a big dream. </li></ul></ul><ul><ul><li>Use the power of choice, daily. </li></ul></ul><ul><ul><li>Choose your friends carefully. </li></ul></ul><ul><ul><li>Master a formula. Learn a new one, and learn fast. </li></ul></ul><ul><ul><li>Pay yourself first . </li></ul></ul><ul><ul><li>Pay your broker well. </li></ul></ul><ul><ul><li>Be an Indian giver. </li></ul></ul><ul><ul><li>Buy luxuries last. </li></ul></ul><ul><ul><li>Find yourself a hero. </li></ul></ul><ul><ul><li>Teach and you shall receive. </li></ul></ul>
  12. 13. BusinessSummaries.com is a business book Summaries service. Every week, it sends out to subscribers a 9- to 12-page summary of a best-selling business book chosen from among the hundreds of books printed out in the United States every week. For more information, please go to http://www.bizsum.com. ABOUT BUSINESSSUMMARIES

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