The document summarizes the key lessons from the book "Rich Dad Poor Dad" by Robert Kiyosaki. It discusses two different perspectives on financial independence - a "rich dad" and a "poor dad". Some of the main points made include don't depend on salary, make your money work for you through wise investing, be a business owner not just an employee, develop financial intelligence to build wealth that lasts generations, and seek passive income from assets that generate cash flow.

1.  Submitted To :
 Deepshi Garg
 Submitted By:
 Siddhant Bisht
 1000017663
 MBA II Year

2.  Rich Dad, Poor Dad : The
secret about money, That you
don’t learn in school!
 It is about what people must
learn and practice in order to
become financially
independent.
 Two different points of view
about attaining financial
independence.
 Rich Dad Vs Poor Dad

4.  Don’t work for money
 i.e. don’t depend on your boss to make you rich
 Learn how to make money work for you
 Cutting your expenses moderately, Investing
wisely and creating opportunities to earn passive
incomes outside of salaries.
 Seek to be a business owner or an investor,
rather than an employee

5.  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.
 It does not matter how much money you make,
but how much money you keep.
 Differentiate between as asset and liability, and
invest in assets
 Assets generate income, while liabilities generate
expenses, i.e. your mobile phone could be an
asset or liability depending on what it is used for.

6.  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.
 Do not depend only on a salaried job.
 Some source of unearned income:
 Dividends
 Interest Payments
 Rent
 Royalties

7.  Where the cash flows make sense, you are
better off managing your finances through a
corporation rather than as an employee,
because of the different tax advantages you
can get
 As an individual, your income is taxed and
what you have left is your disposable income
 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

8.  It takes money for you to make money, but
you don’t necessarily have to use yours
 For you to be wealthy, the earnings from your
assets (investments) should be enough to fund
your expenses.
 Seek to attain a point where if you resigned
from your job, you could fund your lifestyle
using unearned income from your
investments.

9.  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
 Money can be illusion that clouds good
judgment. Fear and greed do not allow people
make rational decisions.

10.  Skills make you rich not theories
 Business is like a wheel barrow. Nothing
happens until you start pushing
 If you own a butcher shop, don’t hire
vegetarians. To hire the right people, you have
to let the wrong people go.
 Start small and dream big
 The most life destroying word of all is the
word tomorrow.

11.  The author concluded by starting that parents
should teach these lessons to their children
early enough in order to guarantee their
children’s financial future
 It is never too late to start building your
financial empire. You could start right now
with your next pay check or by looking around
you to see which need you can fulfill.