Rich Dad, Poor Dad - Deepstash

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People’s lives are forever controlled by two emotions: fear and greed

People’s lives are forever controlled by two emotions: fear and greed. Offer them more money and they continue the cycle by increasing their spending. This is what is call the Rat Race.

Fear keeps them in this trap of working, earning money, working, hoping the fear will go away. But every day they get up, and that old fear wakes up with them, hoping that a paycheck will kill that fear gnawing at their soul.

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Why learn Financial Literacy?

  • It’s like planting a tree. You water it for years, and then one day it doesn’t need you anymore. Its roots are implanted deep enough. Then the tree provides shade for your enjoyment.
  • Money without financial intelligence is money soon gone.
  • You must know the difference between an asset and a liability, and buy assets.
  • If you want a bigger house, you first buy assets that will generate the cash flow to pay for the house.

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Robert T. Kiyosaki

"Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive?"

ROBERT T. KIYOSAKI

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The Rich Invent Money

It is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.

This is why it is absolutely necessary to understand and learn how money works.

Sometimes you win and sometimes you learn. But have fun. Most people never win because they’re more afraid of losing.

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IDEAS CURATED BY

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

Anurag Dhungana's ideas are part of this journey:

How to Start Investing Today

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