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“Rich don’t work for money, they let money work for them.”
- For rich people, the their asset generates more than enough to cover expenses, with the savings reinvested into the assets. So assets continue to grow and they keep getting more rich.
- "Compound interest is the 8th wonder of the world" - Consistently investing money will grow exponentially over a long period of time. Keep investing patiently and let the compound interest do its magic.
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77 reads
"Pay yourself first"
- It should not be Savings = Income - Expense, it should be Expenses = Income - Savings.
- Rich buys luxuries last.
- Think about paying yourself fast, not government taxes or bills.
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42 reads
Metric of wealth
A good metric of Wealth is, if you stop working today, how many days will you survive with current expenses.
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53 reads
Generate assets
- Pay well to the people generating your assets, than people giving you liabilities.
- Trade properties with bigger properties.
- Use money to make more money by generating more assets.
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49 reads
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.
Arghadip Chakraborty's ideas are part of this journey:
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