Rich Dad Poor Dad v.1
What one should take away after reading the book? According to my understanding and some respective sources.
- Understand the difference between assets and liabilities: Assets put money in your pocket, while liabilities take money out. Aim to acquire more assets and reduce your liabilities.
- Invest in real estate: Real estate is one of the best ways to build wealth and create passive income streams. Learn about different types of real estate investments, such as rental properties and REITs.
- Focus on cash flow: Positive cash flow is critical. Increase your income and reduce your expenses.
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These Ideas give me a window, from which I can somewhat see the bigger picture. But it's still the tip of the iceberg, go and read it yourself and you may find out more than me, and make sure you understand it.
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