Flaws In Education System

Flaws In Education System

  • Our education system is designed to teach you to be a good employee not employeer.
  • It do not teach the financial literacy at all
  • Education is important to be good in professional life and make income but in order to make assets and to be rich in life financial literacy is must
  • One may get rich without financial literacy but cannot stay rich for long time

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Rich Dad, Poor Dad

Rich Dad, Poor Dad

by Robert T. Kiyosaki

MORE IDEAS FROM THE BOOK

One Step Away From Poverty

Poor and middle class people remain poor or they are one step away from poverty because they depend on single source of income while the rich mindset people create multiple income streams. They use their available resources to create one income and after setting that works to make other income stream. This cycle repeats that's why they richer by time

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10 Of 10 Rule

10 of 10 rule states that one should not spend more than 10% of its net worth on house and not to spend more than 10% of its house value on cars like liabilities. If this is followed by person then he/she will probably not face any money problems.

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Why Financially Literate May Not Develop Cash Flow

The five main reasons financially literate people may still not develop abundant cash flow are:-

  1. Fear
  2. Cynicism
  3. Laziness
  4. Bad habits
  5. Arrogance

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ROBERT T. KIYOSAKI

"Poor and middle class works for money. The rich have money work for them.

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Poor mentality

Poor and middle class firstly spend their incomes on the needs and liabilities. If something left after goes to the investment

Rich mentality

Rich people firstly invest a part of their income and then after spend the left out for need and luxuries.

This thing make a huge difference.

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RELATED IDEAS

Understand the difference between an asset and a liability; and grow your income-generating assets' column.

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Rich Dad, Poor Dad

Rich Dad, Poor Dad

by Robert T. Kiyosaki

The main management skills needed for success are:
  1. Management of cash flow
  2. Management of systems
  3. Management of people

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Rich Dad, Poor Dad

Rich Dad, Poor Dad

by Robert T. Kiyosaki

1. Theory One

Money is the cause of all sufferings

2. Theory Two

Lack of money is the cause of all sufferings.

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Rich Dad, Poor Dad

Rich Dad, Poor Dad

by Robert T. Kiyosaki