The document provides a book review of "Rich Dad Poor Dad" by Robert Kiyosaki and Sharon Lechter. It summarizes the key lessons from the book, including that the rich focus on making money work for them rather than working for money, the importance of financial literacy and distinguishing between assets and liabilities, and starting a business to generate passive income rather than relying solely on salaries. It also includes several quotes from the book about the importance of skills over theories, learning from mistakes, and selling being a crucial business skill.
The book is largely based on Kiyosaki's upbringing and education in Hawaii. It highlights the different attitudes to money, work and life of two men (i.e. his titular "rich dad" and "poor dad"), and how they in turn influenced key decisions in Kiyosaki's life.The book is simply a must read for any aspiring entrepreneur.
The title Rich Dad, Poor Dad refers to the two main male influences that Robert had as a child. His own father, the figurative “poor dad,” worked at a steady job for a living, while the “rich dad” (the father of a friend) ran a multitude of businesses. Most of this book is told from the perspective of Robert learning from his “rich dad” about how to make money – and seeing how his “poor dad” made huge money mistakes. The first two thirds of the book covers six lessons taught to Robert by his rich dad.
Rich Dad Poor Dad
By Robert Kiyosaki
It’s been almost a long time since Robert Kiyosaki’s Rich Dad Poor Dad originally caused a ripple effect in the Personal Finance field.
It has since become the Personal Finance book ever… converted into many dialects and sold all throughout the planet.
Rich Dad Poor Dad is Robert’s account of growing up with two fathers — his genuine dad and the dad of his closest companion, his rich father — and the manners by which the two men formed his considerations about cash and contributing. The book detonates the legend that you need to procure a top level salary to be rich and clarifies the contrast between working for cash and having your cash work for you.
The book is largely based on Kiyosaki's upbringing and education in Hawaii. It highlights the different attitudes to money, work and life of two men (i.e. his titular "rich dad" and "poor dad"), and how they in turn influenced key decisions in Kiyosaki's life.The book is simply a must read for any aspiring entrepreneur.
The title Rich Dad, Poor Dad refers to the two main male influences that Robert had as a child. His own father, the figurative “poor dad,” worked at a steady job for a living, while the “rich dad” (the father of a friend) ran a multitude of businesses. Most of this book is told from the perspective of Robert learning from his “rich dad” about how to make money – and seeing how his “poor dad” made huge money mistakes. The first two thirds of the book covers six lessons taught to Robert by his rich dad.
Rich Dad Poor Dad
By Robert Kiyosaki
It’s been almost a long time since Robert Kiyosaki’s Rich Dad Poor Dad originally caused a ripple effect in the Personal Finance field.
It has since become the Personal Finance book ever… converted into many dialects and sold all throughout the planet.
Rich Dad Poor Dad is Robert’s account of growing up with two fathers — his genuine dad and the dad of his closest companion, his rich father — and the manners by which the two men formed his considerations about cash and contributing. The book detonates the legend that you need to procure a top level salary to be rich and clarifies the contrast between working for cash and having your cash work for you.
Rich dad poor dad book presentation. tells about how rich teaches their children about money that poor dad does not and also tells about savings and start ups
The presentation talks about the very famous book written by the famous author Robert kiyosaki, it talks about how to actually spend money in a smart sensible manner rather than buying anything which will act as a liability. It clearly distinguishes between assets and liability.
This prentation is about money and how to create wealth. It teaches you how to cure an empty pocket and makes known to you the proven principles of wealth creation.
En esta presentación doy a conocer el resumen de PADRE RICO PADRE POBRE, para que los lectores entiendan el punto de vista que tiene Robert acerca de como hacer que el dinero trabaje para nosotros, en ves de nosotros trabajar por dinero
Rich dad poor dad book a briefy summary. tells about how rich teaches their children about money that poor dad does not and also tells about savings and start ups
Rich dad poor dad book presentation. tells about how rich teaches their children about money that poor dad does not and also tells about savings and start ups
The presentation talks about the very famous book written by the famous author Robert kiyosaki, it talks about how to actually spend money in a smart sensible manner rather than buying anything which will act as a liability. It clearly distinguishes between assets and liability.
This prentation is about money and how to create wealth. It teaches you how to cure an empty pocket and makes known to you the proven principles of wealth creation.
En esta presentación doy a conocer el resumen de PADRE RICO PADRE POBRE, para que los lectores entiendan el punto de vista que tiene Robert acerca de como hacer que el dinero trabaje para nosotros, en ves de nosotros trabajar por dinero
Rich dad poor dad book a briefy summary. tells about how rich teaches their children about money that poor dad does not and also tells about savings and start ups
The most precise summary of rich dad poor dad book by Robert Kiyosaki.
The theme, key points, and the financial advice offered by the Robert Kiyosaki.
This Rich dad poor dad book summary requires only 2-3 minutes.
Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter is a book that came out in 1997 and focuses on the importance of financial literacy from an early age. Throughout the book, the author explains how a person can increase their wealth by investing in assets and by being smart with money.
Book Title— Rich Dad Poor Dad
Author— Robert Kiyosaki, Sharon Lechter
Date of Reading— February, 2023
Rating— 9/10
Table Of Contents
What Is Being Said In Detail
Introduction
Chapter One
Chapter Two – Lesson One: The Rich Don’t Work For Money
Chapter Three – Lesson Two: Why Teach Financial Literacy?
Chapter Four – Lesson Three: Mind Your Own Business
Chapter Five – Lesson Four: The History of Taxes and The Power of Corporations
Chapter Six – Lesson Five: The Rich Invent Money
Download The Ebook:Reading Books:The Ultimate Guide
Chapter Seven – Lesson Six: Work to Learn – Don’t Work for Money
Chapter Eight – Overcoming Obstacles
Chapter Nine – Getting Started
Chapter Ten – Still Want More? Here are Some To Do’s
Epilogue
Most Important Keywords, Sentences, Quotes
INTRODUCTION
Download The Ebook:Reading Books:The Ultimate Guide
CHAPTER ONE
CHAPTER TWO – Lesson One: The Rich Don’t Work For Money
CHAPTER THREE – Lesson Two: Why Teach Financial Literacy?
CHAPTER FOUR – Lesson Three: Mind Your Own Business
CHAPTER FIVE – Lesson Four: The History of Taxes and The Power of Corporations
CHAPTER SIX – Lesson Five: The Rich Invent Money
CHAPTER SEVEN – Lesson Six: Work to Learn – Don’t Work for Money
CHAPTER EIGHT – Overcoming Obstacles
CHAPTER NINE – Getting Started
CHAPTER TEN – Still Want More? Here are Some To Do’s
EPILOGUE
Book Review (Personal Opinion):
This Book Is For:
If You Want To Learn More
Download The Ebook:Reading Books:The Ultimate Guide
How I’ve Implemented The Ideas From The Book
One Small Actionable Step You Can Do
Download The Ebook:Reading Books:The Ultimate Guide
The Book in Three Sentences
Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing.
You don’t need to earn a high income to be rich.
Rich people make money work for them.
The Five Big Ideas
The poor and the middle-class work for money. The rich have money work for them.
It’s not how much money you make that matters. It’s how much money you keep.
Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
Financial aptitude is what you do with the money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
The single most powerful asset we all have is our minds.
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Rich Dad Poor Dad Lessons
Lesson 1: The Rich Don’t Work for Money
Lesson 2: Why Teach Financial Literacy?
Lesson 3: Mind Your Own Business
Lesson 4: The History of Taxes and The Power of Corporations
Lesson 5: The Rich Invent Money
Lesson 6: Work to Learn—Don’t Work for Money
Rich Dad Poor Dad Summary
“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”
“Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.”
“People’s lives are forever controlled by two emotions: fear and greed.”
“So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day.”
“Thinking that a job makes you secure is lying to yourself.”
“Intelligence solves problems and produces money.”
“You must know the difference between an asset and a liability and buy assets.”
An asset puts money in your pocket. A liability takes money out of your pocket.
“Illiteracy, both in words and numbers, is the foundation of financial struggle.”
“Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know.”
“Cash flow tells the story of how a person handles money.”
“Most people don’t understand why they struggle financially because they don’t understand cash flow.”
“The number-one expense for most people is taxes.”
Higher incomes cause higher taxes. This is known as “bracket creep.”
“More money seldom solves someone’s money problems.”
“The fear of being different prevents most people from seeking new ways to solve their problems.”
“A person can be highly educated, professionally successful, and financially illiterate.”
“Many financial problems are caused by trying to keep up with the Joneses.”
Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets.
“The problem with simply working harder is that each of these three levels takes a greater share
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Mad About Money is financial management with a difference. It aims to make financial freedom a reality through interactive media and personal and group connect. It is about developing a mindset apart from the general mindset – A mindset which has made the rich rich and left the poor to remain poor.
Mad About Money is financial management with a difference. It aims to make financial freedom a reality through interactive media and personal and group connect. It is about developing a mindset apart from the general mindset – A mindset which has made the rich rich and left the poor to remain poor.
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The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
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2. Author;
Robert Toru Kiyosaki (born April 8, 1947) was born and raised in Hilo,
Hawaii. A fourth-generation Japanese American,
He is an American investor, businessman, self-help author, motivational
speaker, financial literacy activist, and occasional financial commentator.
Robert Kiyosaki, is a multi billionaire by all standards
Kiyosaki also operates his own blog and writing about his latest thoughts
on global economics, investing, business, world financial markets.
Rich Dad Poor Dad book review by Ebin K. Jose
3. Co- author
Sharon L. Lechter
Born in January 12, 1954,
An American accountant, author, businesswoman, investor,
international speaker, and philanthropist.
Lechter is best known as the co-author of the international
best-selling book Rich Dad, Poor Dad
Rich Dad Poor Dad book review by Ebin K. Jose
4. Introduction
Rich Dad, Poor Dad for Teens: The Secrets About Money
—That You Don't Learn in School!
The book basically 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
Rich Dad Poor Dad book review by Ebin K. Jose
5. The rich don’t work for money
Don’t work for money
i.e. don’t depend 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 and/or an investor, rather
than an employee
Rich Dad Poor Dad book review by Ebin K. Jose
6. Master Financial Literacy
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 an asset and liability, and invest in assets
Assets generate income, while liabilities generate expenses;
i.e. your GSM mobile phone could be an asset or liability
depending on what it is used for..
Rich Dad Poor Dad book review by Ebin K. Jose
7. Mind Your Business
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 sources of unearned income:
Dividends
Interest Payments
Rent
Royalties
Rich Dad Poor Dad book review by Ebin K. Jose
8. Learn to minimize the taxes
you pay
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
Rich Dad Poor Dad book review by Ebin K. Jose
9. The rich invent money
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
Rich Dad Poor Dad book review by Ebin K. Jose
10. Work to learn, don’t work for
money
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
Rich Dad Poor Dad book review by Ebin K. Jose
11. Quotes
from the book
Skills make you rich, not theories.
In school we learn that mistakes are bad, and we are punished for
making them. Yet, if you look at the way humans are designed to
learn, we learn by making mistakes. We learn to walk by falling
down. If we never fell down, we would never walk.”
Business is like a wheel barrow. Nothing happens until you start
pushing.
Starting a business is like jumping out of an airplane without a
parachute. In mid air, the entrepreneur begins building a parachute
and hopes it opens before hitting the ground.
Rich Dad Poor Dad book review by Ebin K. Jose
12. Conti…
“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
The ability to sell is the number one skill in business. If
you cannot sell, don’t bother thinking about becoming a
business owner.”
Rich Dad Poor Dad book review by Ebin K. Jose
13. Conclusion
The author concluded by stating 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
Rich Dad Poor Dad book review by Ebin K. Jose