Satya Narayan's Key Ideas from Rich Dad, Poor Dad
by Robert T. Kiyosaki
Ideas, facts & insights covering these topics:
6 ideas
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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
"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..
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..
"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
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
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
CURATOR'S NOTE
Reading is a fundamental step when attempting to improve your personal finances.
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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:
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