Rich Dad, Poor Dad - Deepstash

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   Critical Lessons from “Rich Dad Poor Dad”

Critical Lessons from “Rich Dad Poor Dad”

There are clever methods to break free from the painful cycle of working for others your entire life while failing to preserve anything.

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1. Financial education is your greatest asset

1. Financial education is your greatest asset

"Money without financial literacy is no money"

Making money and keeping money are two different things. Never confuse the two . Remember the athlete who made millions at 24 but ended up sleeping under a bridge ten years later?

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2.Don't work to earn money; work to learn..

2.Don't work to earn money; work to learn..

Learning can increase your knowledge and equip you with unique talents to help you advance in your career.

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3. Know the difference between ASSETS and LIABILITIES..

3. Know the difference between ASSETS and LIABILITIES..

"An asset is something that puts money in your pocket and a liability is something that takes money out of your pocket,"

Rich people acquire assets (securities and investments) and poor people add liabilities (commitments and obligations).

This is the most significant distinction that can affect an individual's own financial future.

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4. Reinvest the profits you make

4. Reinvest the profits you make

The profits generated by your assets should be re-invested in new ones.

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5.The rich DON'T work for money, Their Money Works For THEM

5.The rich DON'T work for money, Their Money Works For THEM

Rich people are taught from an early age that wealth is earned by LEVERAGE rather than hard effort. They put their money into investment entities, which handle all of the "labour."

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IDEAS CURATED BY

satya_narayan

"If you don’t like to read, you haven’t found the right book."

CURATOR'S NOTE

Reading is a fundamental step when attempting to improve your personal finances.

Curious about different takes? Check out our Rich Dad, Poor Dad Summary book page to explore multiple unique summaries written by Deepstash users.

Satya Narayan's ideas are part of this journey:

How to Succeed at Investing

Learn more about books with this collection

How to create a diversified portfolio

How to analyze stocks and bonds

Understanding the basics of investing

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Curious about different takes? Check out our book page to explore multiple unique summaries written by Deepstash curators:

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