Rich dad poor dad :-Robert kiyosaki
Do you ever think of enjoying a vacation with your family without taking care of your bank balance and money?
Do you like to see the quality of good clothes first and then at their price tags?
Do you ever thought that you would eat whatever you want without taking care of its price?
If not, then get ready to think such beautiful questions because a great person once said that you will grow only when you ask yourself questions that will forces your mental energy to think that how can I do that?
1) Robert says that money is one form of purchasing power the more money you have the more powerful you are but he believed that the more powerful thing is financial education.
Money comes and goes but if you have financial education and you know how to earn money then you can face any financial difficulty easily.
He tells us that if a person's everything was taken away then also a financially educated person will make another of his empire.
2) He says that most of the decisions people make they don't make them by using their brain, they make them by their emotions and being emotional ,that's why people work hard and suffer financially in their entire life,(like if a person wins a lottery then there is a high chance that he will firstly think about giving a party to his friends and if he is intelligent then only he thought about investing and growing the money at the last , but no one can do anything in this, that was their money).
Although they work hard but still they are not rich because of their emotions like(fear of :- not having money or of paying bills etc, or losing their money,greed of money to fulfill their wants and thinking that money will soothe their needs but when they get their salary they do not invest or save their money and just waste them in basic and also unwanted needs).
"Learn to use your emotions to think how to make money, do not think with your emotions"
Robert kiyosaki says that "a job is a short term solution to a long term problem" he also says that along with financial education, emotional intelligence is also very important.
3) A mistake which most of the people do is they don't understand the difference between an asset and a liability, they buy liabilities which they thought are assets.
According to author "an asset is a thing which puts money in your pocket and a liability is a thing which removes money from your pocket".
Most of the people think that their home is their greatest investment and also their asset but they don't understand that they have to pay for its electricity bill, its repairs and maintenance and it was their liability unless they are not earning from their house either by renting it or by any other way.
Author warns that if your house is your greatest investment then you are in great trouble.Also author tells us that wealth is not how much money you make, it is how much money you keep, wealth is always measured with time.
4) The reason why poor people are poor and rich people are rich because poor and middle class people only think that their job is necessaary to fulfill their needs and if not then they have to work harder than before and thinks that they must end any loan soon by their jobs but hey do not buy anything which affect their asset column but they buy liabilities which they think are asset and the riches also work hard firstly in their job but they anyhow by managing buy real assets for them which in future earns money for them and that's the same thing the author is trying to say that the person must be mind in his own business, like keep your daytime job but start buying real assets .
keep low expenses,liabilities and build a base of solid assets.
The person must invest it's money in the following things :-
<•> business which do not require your presence (you own them but other people work their for you).
<•>stocks.
<•>bonds .
<•>income generating real estates.
<•>notes(IOUs) .
<•>royalties from intellectual properties such as music,scripts and patents.
<•>anything that has value,produces income or appreciates and has ready markets.
5) Rich dad says that "knowledge is power and with money comes great powers that requires right knowledge to keep it and to multiply it"
just like we plant seeds in the soil and they grows year after year and finally becomes trees and started giving fruits,Robert's philosophy is also same he also believes in growing seeds in their asset column,so that it brings money as fruits when they started to grow.and just like in a bunch of seeds only a few grows and the rest just gets wasted,investment is also same if not taken care properly, i.e. only few investments will earn money for you and become your real assets.
And you can only protect your assets if you have financial education.
6) Robert is saying that "failure is a part of process to success,people who avoid failure , also avoids success"so, if anyone has started a business and it is not performing well but you believe in your idea that it will rock then never stop, you don't know what will be the next step of god to your business.
according to robert the three main management skill for success are :-
<•> management of cashflow.
<•> management of systems.
<•> management of people.
and he also prefer to learn sales and marketing.
This is the complete book summary of Rich dad poor dad, I hope you like the summary and the book and also I hope it will help you change your way of looking things a little.
give your beautiful advice/suggestion if you find any fault in the blog/article,so that it will be nice:)
THANKS FOR READING:)
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