Summary of Rich Dad, Poor Dad by Robert Kiyosaki
Guideposts to grow wealthier no matter what happens in a world of increasing change and uncertainty:
1. Rich Don’t Work For Money
Most of the college graduate students today are dreaming to be an employee-nurse, doctor, teacher, bookkeeper, accountant, etc. Only few assume to have their any kind of business. They choose to be a permanent employee than to be an employer. They study more or less than 15 years of their life to have a secure job with high paying salary and benefits on retirement. They will quit on jobs paying low cost and find for another in which higher pay don’t solve financial problems. Thus, they quit because of having fear of not paying their bills. On the other hand, fear also keeps people working at the job, the fear of being fired, the fear of not having enough money, the fear of starting over. That's the price of studying to learn a profession or trade, and then working for money so that most people become a slave to money.
2. Why Teach Financial Literacy
Having a financial intelligence leads to be rich because you know how to manage your money and where will you put it first. And in contrast, thinking also leads you to be poor. Ignorance causes poverty. Like for example, many people that such money is the solution in their poverty but the real problem-solver is the mind, the intelligence, knowledge in holding money and buying assets not liabilities. Buying more assets than liabilities leads to high income because of the profit you get on your asset which also covers expenses that's why rich person's income is greater than the expense. The more money that goes into the asset column, the more the asset column grows. The more the assets grow, the more the cash flow grows. Then the person will get rich with more and more income from sources other than his physical labor. Poor people are poor not because of the amount of money they earned, but because of his thoughts and actions. It’s not how much money you make but
1. Rich Don’t Work For Money
Most of the college graduate students today are dreaming to be an employee-nurse, doctor, teacher, bookkeeper, accountant, etc. Only few assume to have their any kind of business. They choose to be a permanent employee than to be an employer. They study more or less than 15 years of their life to have a secure job with high paying salary and benefits on retirement. They will quit on jobs paying low cost and find for another in which higher pay don’t solve financial problems. Thus, they quit because of having fear of not paying their bills. On the other hand, fear also keeps people working at the job, the fear of being fired, the fear of not having enough money, the fear of starting over. That's the price of studying to learn a profession or trade, and then working for money so that most people become a slave to money.
2. Why Teach Financial Literacy
Having a financial intelligence leads to be rich because you know how to manage your money and where will you put it first. And in contrast, thinking also leads you to be poor. Ignorance causes poverty. Like for example, many people that such money is the solution in their poverty but the real problem-solver is the mind, the intelligence, knowledge in holding money and buying assets not liabilities. Buying more assets than liabilities leads to high income because of the profit you get on your asset which also covers expenses that's why rich person's income is greater than the expense. The more money that goes into the asset column, the more the asset column grows. The more the assets grow, the more the cash flow grows. Then the person will get rich with more and more income from sources other than his physical labor. Poor people are poor not because of the amount of money they earned, but because of his thoughts and actions. It’s not how much money you make but