"An asset is something that puts money in your pocket and a liability is something that takes money out of your pocket,"Rich people acquire assets (securities and investments) and poor people add liabilities (commitments and obligations).This is the most significant distinction that can affect an individual's own financial future.

3. Know the difference between ASSETS and LIABILITIES..

There are clever methods to break free from the painful cycle of working for others your entire life while failing to preserve anything.

   Critical Lessons from “Rich Dad Poor Dad”

Learning can increase your knowledge and equip you with unique talents to help you advance in your career.

2.Don't work to earn money; work to learn..

Rich people are taught from an early age that wealth is earned by LEVERAGE rather than hard effort. They put their money into investment entities, which handle all of the "labour."

5.The rich DON'T work for money, Their Money Works For THEM

The profits generated by your assets should be re-invested in new ones.

4. Reinvest the profits you make

"Money without financial literacy is no money"Making money and keeping money are two different things. Never confuse the two . Remember the athlete who made millions at 24 but ended up sleeping under a bridge ten years later?

1. Financial education is your greatest asset

Reading is a fundamental step when attempting to improve your personal finances.

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

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Career

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Personal Development

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Money & Investments

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Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.