Elevated Path's Key Ideas from Rich Dad, Poor Dad
by Robert T. Kiyosaki

1. The Rich Don’t Work For Money
2. Why Teach Financial Literacy
3. Mind Your Own Business
4. Taxes And Cooperation
5. The Rich Invent Money
6. Work To Learn , Not For Money

The Art of Habits (Its Free)

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

🐀 The Rat Race

The pattern of get up, go to work, pay bills, go to work, pay bills. Offer them more money and they continue the cycle by increasing their spending

"Those with IMAGINATIONS thrive while those without it are still looking for a job."

"Keep using your brain, work for free, and soon your mind will show you ways of making money far beyond."

People's lives are forever controlled by 2 emotions:

😨FEAR & 🤤GREED

"Fear pushes you out of the door, and greed calls to you. Thats the trap."

💰 It's not how much money you make, It's how much money you keeps

ASSETS × LIABILITIES

Assets put money in your pockets

Liabilities takes money out of Your Pockets

You must know the difference between assets and liabilities, and buy assets.

The rich focus on their asset columns while everyone else focuses on their income statements

"I'm not in the hamburger business, My business is real estate. Ray Kroc"

• The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems.
• The mistake in becoming what you study is that too many people forget to mind their own business. They spend their time minding someone's business and making that person rich.

My rich dad just played the game smart and he did it through corporations.

The biggest bully was not the boss or the supervisor, but the tax man

Corporations have tax advantages and protection from lawsuits.

Business owner with corporations :

1. Earn
2. Spend
3. Pay Taxes

Employees:

1. Earn
2. Pay Taxes
3. Spend

Often in the real world, it's not the smart who get ahead, but the bold.

"The main reason most people are not rich is because they are terrified of losing."

Great opportunities are not seen with your eyes, they are seen with with your mind.

3 skills you need to develop:

1. Find an opportunity that everyone else missed.
2. Raise money.
3. Organize smart people

• In the workplace, in order to make more money, you need to specialize. But to be rich, you need to do exactly the opposite
• Education is more valuable than money, in the long run.

Management Skills You Need :

1. Management Of Cashflow
2. Management of Systems
3. Management of Peoples

Specialized Skills You Need :

1. Sales & Marketing
2. Speaking & Negotiation
3. How to be a good Teacher

1. Find a Strong Purpose
2. Make Daily Chooses
3. Choose Friends Carefully
4. Learn Things Quickly
5. Pay Yourself First
6. Pay Your Brokers Well
7. Be an Indian Giver
8. Use Assets to Buy Luxuries
9. Choose Your Heros
10. Teach and You Shall Receive