Rich Dad, Poor Dad - Deepstash

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ROBERT KIYOSAKI

The poor and the middle class work for money. The rich have money work for them.

ROBERT KIYOSAKI

106

3.63K reads

Differentiate between assets and liabilities

Understand that assets put money in your pocket, while liabilities take money out. Invest in assets like stocks, real estate, or businesses that generate income, rather than liabilities like cars or consumer goods that depreciate in value.

113

877 reads

Invest in assets that generate passive income

Look for investments that provide ongoing cash flow, such as rental properties, dividend-paying stocks, or royalties from intellectual property. This way, your money can work for you even when you’re not actively working.

107

769 reads

Understand the power of financial education

Continuously educate yourself about personal finance, investing, and entrepreneurship. Read books, attend seminars, and seek out mentors who can provide valuable insights and guidance.

99

701 reads

ROBERT KIYOSAKI

"An intelligent person hires people who are more intelligent than he is"

ROBERT KIYOSAKI

105

698 reads

Take calculated risks and learn from failures

Don’t be afraid to take risks, but make sure they’re informed and calculated. If you encounter setbacks or failures, treat them as learning experiences and use them to grow and improve your financial knowledge and decision-making skills.

96

589 reads

Focus on increasing your financial intelligence

Develop a deep understanding of financial concepts such as compound interest, tax strategies, and asset allocation. The more you know about how money works, the better equipped you’ll be to make smart financial decisions.

98

534 reads

Embrace the mindset of continuous learning and growth

Stay curious and open-minded, and always be on the lookout for new opportunities to expand your wealth-building knowledge and skills.

92

534 reads

Start thinking like an entrepreneur, not just an employee

Look for ways to create value and generate income outside of traditional employment. This could involve starting a side business, freelancing, or investing in ventures that have the potential for high returns.

92

490 reads

Learn to manage your cash flow effectively

Keep track of your income and expenses, and strive to maintain a positive cash flow by maximizing income and minimizing expenses. This will help you build wealth over time and weather financial downturns more effectively.

92

451 reads

Avoid living above your means and prioritize saving & investing

Live frugally and resist the temptation to spend money on unnecessary luxuries. Instead, focus on saving and investing your money wisely to build long-term wealth and financial security.

95

431 reads

Create multiple streams of income

Diversify your sources of income by building multiple streams, such as rental income, investment returns, or income from a side business. This will reduce your reliance on any single source of income and provide greater stability and security in the long run.

96

423 reads

IDEAS CURATED BY

martinez.pol

Entrepeneur into course creating industry.

CURATOR'S NOTE

Teachings for understanding and succeeding financially.

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

Different Perspectives Curated by Others from Rich Dad, Poor Dad

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

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