LEARNINGS FROM RICH DAD POOR DAD

Lesson 1: The Rich Don’t Work for Money

Lesson 2: Why Teach Financial Literacy?

Lesson 3: Mind Your Own Business

Lesson 4: The History of Taxes and The Power of Corporations

Lesson 5: The Rich Invent Money

Lesson 6: Work to Learn—Don’t Work for Money

There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.

Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.

People’s lives are forever controlled by two emotions: fear and greed.

So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day.

Thinking that a job makes you secure is lying to yourself.

Intelligence solves problems and produces money.

You must know the difference between an asset and a liability, and buy assets.

An asset puts money in your pocket. A liability takes money out of your

pocket.

Illiteracy, both in words and numbers, is the foundation of financial struggle.

Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know.

Cash flow tells the story of how a person handles money.

Most people don’t understand why they struggle financially because they don’t understand cash flow.

Higher incomes cause higher taxes. This is known as “bracket creep”.

More money seldom solves someone’s money problems.

“The fear of being different prevents most people from seeking new ways to solve their problems.”

A person can be highly educated, professionally successful, and financially illiterate.

Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets.

The problem with simply working harder is that each of these three levels takes a greater share of your increased efforts. You need to learn how to have your increased efforts benefit you and your family directly.

Wealth is a person’s ability to survive so many numbers of days forward— or, if I stopped working today, how long could I survive?

The rich buy assets. The poor only have expenses. The middle class buy liabilities they think are assets.

The rich focus on their asset columns while everyone else focuses on their income statements.

Financial struggle is often directly the result of people working all their lives for someone else.

The mistake in becoming what you study is that too many people forget to mind their own business. They spend their lives minding someone else’s business and making that person rich.

To become financially secure, a person needs to mind their own business (Have your own business- where you are not required physically.)

Financial struggle is often the result of people working all their lives for someone else.

The primary reason the majority of the poor and middle class are financially conservative—which means, ‘I can’t afford to take risks’—is that they have no financial foundation.

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Author: Admin

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