Books everyone should read: 10 lessons I learned from ‘Rich dad, poor dad’

This is the first of many posts on our series called “Books everyone should read”. We have read some very good books lately and we are eager to share these with you! Cause some of them really changed our lives and helped our mindsets grow stronger and actions faster.
The first book of the series is Robert T.Kiyosaki and Sharon L.Lechter “Rich Dad, Poor Dad”.

This Robert Kiyosaki book definitely addresses some great points and gives so much value. This is one of the top-selling books in the world and should be considered as a book that everyone should read. It has some good ideas that you can use it in everyday life.
So here are 10 things I learned from the book and you should definitely learn them too if you are on a road to getting rich and reaching your financial freedom.

1. Learn from the ones who are already there. You have some kind of idol who is rich and you want to succeed like them? Follow them, learn their every move and find the clues that connect them to getting rich. You don’t have to invent new ways, just follow the ones who are already there where you want to be. He talks about how he met a successful businesswoman and took her out for a lunch and how this lunch taught him so much. So, learn from the ones who are already there!
2. Gain skills in different subjects. In other words, know a little about a lot. For example, learn accounting, trading, public speaking, MARKETING, writing, sales, law and the list goes on. To be a leader and to lead your own company, you have to have skills on various topics. Okay, so this is the opposite of what society teach us to do- learn your job and do it! But as the author told the story of a marvellous young writer, who really knew how to write. But the problem was, she didn’t know how to sell and therefore she couldn’t sell her books. It’s not enough if you know how to write good, you also have to know what to do next with the masterpiece.
3. Don’t work for the money, work for the knowledge. Try to find a job that offers you new experiences, possibilities and therefore a job where you can learn new skills. Don’t trade your time for money, trade your time for new knowledge.
4. Learn, Learn, Learn. As you can see, learning is the main lesson from “Rich dad, poor dad”. Learn new skills, read books, attend courses, try learning through online courses, listen to podcasts and so one.
5. Pay yourself FIRST. Easier said than done but if you are really focused on the long term goal, it should be quite logical. At the beginning of new month, first, pay yourself- invest that money and then pay the bills.
6. It’s all about the mindset! Have you ever noticed that some people almost like attract money? Well, the secret is their mindset. If you think “I can’t afford this”, it blocks every possibility in your mind to find the money.
7. Don’t work for the money, let the money work for you. This is the ideal- passive income. While you sleep, money works for you and generates more money. That’s why you need to pay yourself first, invest it and let the money make more money.
8. Be bold and don’t be afraid of losing. Investing and business at some level always comes with risks. But as the author of “Rich dad, poor dad” said, every rich person has lost their money but not a single poor person have lost a dime.
   “People who avoid failure also avoid success.”
9. Financial literacy is the key. This is simply the knowledge what to do with money, how to invest it, how to use it and how to turn it into more money. Important is to know the difference between an asset and a liability. An asset puts money in your pocket but a liability takes it.
10. Buy assets. Wealth is the cash flow that comes from the assets and covers your expenses. Assets can be stocks, bonds, real estate that makes money, units of mutual funds, royalties and so on..

This book gives hope and enthusiasm to work towards your goal. The author explains the road to wealth like it is quite easy and it seems that if you make smart moves with your money, it really is.

Let us know did you enjoy this book and what were the lessons that you take from the book?

Originally published at www.brightfultwenties.com on February 4, 2019.