6 Key Lesson’s to Learn From Rich Dad Poor Dad by Robert T. Kiyosaki
Many people work very hard in their life, few work more than ten hours a day but can not save money nor do they get rich. Rich Dad Poor Dad book identifies smart ways to escape this “rat race” of working for unlimited hours yet struggling to make ends meet.
Education is more valuable than money, in the long run.” ~ Robert Kiyosaki
1. Take Risks and Be Bold:
As per the book( Rich Dad Poor Dad), rich people take risks because they find opportunities in life that come and go, which can potentially turn them into billionaires.
The author took a risk with his first investment, it was a small 18,000 dollars condominium in Hawaii that fetched him 25 dollars a month. Although he did not earn a lot from it, he became bold and subsequently, with every deal, he got bolder. Every rich person has lost money at some point, but many poor people have never lost a dime. Playing not to lose money means you will never make money. “Winning means being unafraid to lose.“
2. Stay Focused (Mind Your Own Business):
Robert Kiyosaki describes that an individual should remain focused on the end goal (which can lead to financial freedom) and work for it (mind your own business).
Therefore, try to figure out different legitimate ways to build wealth, look for opportunities or invest in businesses to build more assets and generate a strong flow of income. And use the income earned to generate more returns or wealth so that it leads you to financial freedom. Effectively, you should be making money work for you.
3. Work to Acquire Life Skills, Not for Money:
Robert thinks people are, “one skill away from great wealth.” in Rich Dad Poor Dad
Life skills (communication, management of systems and people, etc.) are equally important for financial success and are not taught in school. You should acquire these life skills to help yourself on the path to financial freedom. Effective communication and people management skills make the tasks easy to seek meaningful information from your investment adviser.
4. Failure inspires winners and defeats losers:
Do not be afraid of losing and be bold enough to admit and learn from your failures. It is the biggest secret of winners. It’s the secret that losers do not know. The greatest secret of winners is that failure inspires winning; thus, they’re not afraid of losing
There is a difference between being poor and being broke. Broke is temporary. Poor is eternal” as illustrated in Rich Dad Poor Dad
5. Keep The Power:
“If you work for money, you give them the power to your employer, .Kiyosaki writes. “If money works for you, you keep the power. Working for money is the easier path it’s what we’re taught in school (how to write a resume, get a job, group Discussions. Having your money work for you by starting a company, being your own boss, or investing — requires risk
6. Biggest Asset:
‘The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.’ In the book Rich Dad Poor Dad robert says Rich people find creative solutions to money problems. They take whatever happens and make it better using their financial intelligence, Kiyosaki emphasizes
The Five Big Ideas of-Summary of Rich Dad Poor Dad
- The poor and the middle-class work for money. The rich have money work for them.
- It’s not how much money you make that matters. It’s how much money you keep.
- Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
- Financial aptitude is what you do with the money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
- The single most powerful asset we all have is our mind.
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