The poor and the middle classwork for money , the rich have money work for them
RICH DADPOOR DAD Amit Kumar Ankit Chauhan Gaurav Kumar Singh Sabyasachi Sethi
DetailsRICH DAD , POOR DADAuthor : Robert T. KiyosakiBest SellerPublisher : Plata Publishing , LLCPrinted in USAFirst Edition : 1997Category : Economics
Author : Robert T. KiyosakiRobert Toru Kiyosaki (born April8, 1947) is an JapaneseAmerican investor, businessman, self-help author, motivationalspeaker, financial literacyactivist, and occasional financialcommentator
“Having two dads offered me the choice of contrasting points of view : one of a rich man and one of a poor man” by- Robert Kiyosaki
Salient Features• Financial Literacy• Concepts are explained using the numbers , pictures and metaphors• Mantra to become rich• Informative + Inspiring• Down-to-earth
CONTRAST POOR DAD RICH DAD• Get job in good company • Create or buy a company• “ The love of money is the • “ The lack of money is the root of all evil.” root of all evil.”• I can’t afford it • How can I afford it ?• Play safe • Learn to manage risks• Works for money • Money works for him “There is difference between being poor and being broke . Broke is temporary , poor is eternal. “
Why Teach Financial Literacy?It is not important how much money you make ,it is how much money you keep.Understand the difference between assets andliability.
Financial struggle is often the result of peopleworking all their life for someone else.Owner or shareholders of the company.GovernmentBanks
History Of Taxes & Power Of CorporationRobin Hood : Collect it from the rich and give itto poor.Learn to minimize the taxes.
The Rich Invent Money• Make Good Use of Time• Identify an opportunity Everyone else missedTwo Types of investors: 1.Buyers of packaged Investments 2.The PROFESSIONAL Investor
Work to Learn, Don’t Work for Money• Learn skills like PR, Marketing and advertising.• Take a second job if it means learning more.
Three main managements skills 1. Management of Cash Flow 2. Management of Systems 3. Management of People
Overcoming ObstaclesFive Obstacles to Financial Independence 1. Fear 2. Cynicism 3. Laziness 4. Bad Habits 5. Arrogance
10 steps to awaken your financial genius:The power of spirit. The power of choice. Greatness is not a function of circumstance. Greatness , it turns out , is largely a matter of conscious choice - JIM COLLINS
• The power of association.• “A man only learns in two ways, one by reading, and the other by association with smarter people.” -by Will Rogers.• The power of learning quickly.• “He is most original who adapts from the most sources.” -by John Adair.
• The power of self-discipline. The power of good advice.
• The power of getting something for nothing.• The power of focus.• The power of myth.• The power of giving.
• Think and take action.• Stop doing what you are doing.• Action beats inaction.
Why you should read ?• Broaden your vision• Redefine your views about money• How to start and run a company• In short , if you really have dreams to touch the sky , this book is highly recommended
Criticism• Brutal use of language for lower and middle section of society• Rejected the importance of degrees and qualification• Does not comply with the concept of Taxation