Rich Dad, Poor Dad - Deepstash
Rich Dad, Poor Dad

Rich Dad, Poor Dad

Robert T. Kiyosaki

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The Summary Of The Book

If you wanna know the key points from the book, the following ideas are for you

107

2.38K reads

Have money work for you. Don’t work for money.

Have money work for you. Don’t work for money.

The fear is the main cause of working for money. Rich people make money work for them. Job is a short term solution to a long term problem. Emotions should not control your thinking. Money is illusion. Money is not real.

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1.69K reads

Learn financial literacy

Learn financial literacy

It’s how much money you keep not how much you make. You need to be a financially literate. Master financial literature. Accounting is very important even though it’s boring. Account analysis is an important skill. Understanding the difference between asset and liability is crucial. Do know the difference! Keep it super simple. Buy an asset not a liability. You have to understand the numbers. Rich acquire assets. Asset is what puts money to your pocket. In financial reporting the story is important. Cash flow tells the story how the money is spending.

(Continued in next idea..)

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948 reads

Learn Financial Literacy (Continued)

One thing is missing in our current education is how to keep the money. Most people do what everyone does. Fear is the main reason why people play safe. Intelligent people hire more intelligent people. Keep buying income generating assets. Rich buy assets.

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909 reads

Mind your own business

Mind your own business

Aquire assets that you love. Stocks and income generating real assets. Build and keep you asset column. Keep your daily job and make your assets grow.

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949 reads

The history of taxes

Accounting, investing, understanding the markets, the law. You should understand the tax advantages. Corporations ear, spend their expenses and then pay taxes on what is left. It’s one of the biggest tax loopholes that you can take advantage of. Owning your corporation is also a protection from the legal part. Think about personal corporations.

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The rich invent the money

Be bold, take risks. Financial intelligence consists of these 4 skills: accounting, Investing, understanding markets, the law of awareness of accounting. Invest in your financial intelligence. Have fun! We learn by making mistakes. Main reason most people are not rich is because they are terrified of losing. People who avoid failure also avoid success. Learn to manage risk instead of avoiding it.

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748 reads

Work to learn. Don’t work for money

Work to learn. Don’t work for money

Most people need to learn one more skill to get rich. When it comes to money the only single skill that people know is working hard. You want to know a little about a lot. The main management skills are management of cash flow (assets and liabilities), management of systems (basic economic theory, political landscape, etc) and management of people. Sales and marketing are one of the most important specialized skills. Communication skills such as Writing, speaking and negotiating are crucial for life of success.

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735 reads

MORE LIKE THIS

Rich Dad, Poor Dad

Rich Dad, Poor Dad

Robert T. Kiyosaki

Rich Dad, Poor Dad

Rich Dad, Poor Dad

Robert T. Kiyosaki

Rich Dad, Poor Dad

Rich Dad, Poor Dad

Robert T. Kiyosaki

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