Rich Dad Poor Dad — Book Summary — Robert Kiyosaki

About:

Can anyone have two dad? But the authors of this book belonged to him. His Rich Dad teaches him the Importance of Money and Poor Dad Values. So Writer got to learn a lot from the expertise of both his dad which he shares with his readers,

1. What will we learn from this book?

• Rich people do not work for money, rather money works for them. • How much you earn matters more than how much you have. • Learn to work with your own business. • How Taxes Work • Rich people invest money. • Work for learning, not for money. • Learn how to remove the hurdles of life. • Start

2. Who should read this book?

Of course, this book can be useful for everyone, every person who wants to become rich can learn from this book how to earn money from money. Being rich is also an art and to learn this art, the key ideas of this book will help you a lot.

3. Who is the author of this book?

Robert Toru Kiyosaki is an American businessman and author, he was born on 8 April 1947. Kiyosaki is the founder of Rich Global LLC and Rich Dad Company which provides personal finance and business education to the through-people of books and videos. The main revenue source of the company is the franchise seminars of Rich Dad, which the independent people use the brand name of Kiyosaki and give it to the company as a fee. Kiyosaki has written more than 26 Motivational Self Help Books so far, of which Rich Dad Poor Dad is considered the most popular.

Now We Start Book Summary:

Robert Kiyosaki, author of this book, had two fathers. He had a father who was a educated, PhD holder but remained poor throughout his life and died in poverty. That’s why Robert called them Poor Dad. At the same time, his other fathers were not very educated but were very rich. He was called Robert Rich Dad. Now it is a matter of thinking how any human being can have two fathers at the same time. His poor father had only one dream that Robert, after studying hard, would secure his future by working in a big company. But Robert’s other father, who was rich, was actually the father of Mike, Robert’s friend. They wanted Robert to have some challenge in their lives. Because all the lessons are not learned only in school. There are some lessons that a person learns from the experience of his life. Schooling can only lead to good grades, but the study of life teaches a lot. Of course, education has its own importance but nothing can be achieved only by sitting on it.

Lesson 1: Rich people do not work for money

Once there was a man who had a donkey. Whenever he had to get some hard work done with his donkey, he used to hang a carrot in front of him. On seeing that carrot, the donkey used to work in the temptation of eating it. He hoped that one day he would reach that carrot. Now it became a good idea for the man but the poor donkey could never get that carrot. Why? Because that carrot is just a smokescreen. Many people are just like that donkey. They go on working hard, hoping that one day they will become rich. But money remains just a dream for them. You can never reach it by running after this dream. So instead of working for money, let the money work for you. When you want to get rich, do not work just to earn money. Because as soon as we step into the path of becoming rich, our fear and greed start dominating us so that we do not remain poor to poor. Due to this fear, we are able to work more hard. Then our greed starts dominating us. We start imagining all the beautiful things that can be achieved with money. Now this fear and greed confuse us in such an affair that never ends. So we work harder now to earn more and then our expenditure also starts increasing accordingly. This is called the rich dead “RAT RACE” rate race. Now the result of this is that we work extravagantly and spend more to earn money. This is a trap. And you have to avoid this trap of greed and fear. Because most of us who want to get rich, fall for this trap. Do not run after the money, but force the money to run after you. If you have a job, do not go to work thinking that you have to take a paycheck every month i. Because that pay-check hardly fills all your bills. It becomes the story of every month. Then, after getting fed up, you start working hard by finding another job. But even then you are working for money only. And this is the reason why you never get rich.

Face the truth You are responsible for yourself and not for others. So whatever questions you have, ask yourself because only you have their answer. Are you working just because there is security in your life? A job from which you have no fear of being fired? Or do you work to earn just two cents? And you think that one day you will become rich like this. Is this enough to set you settings? If your answer is yes, then I regret your thinking because the dream of becoming rich is never going to be fulfilled. You will always live in poverty. But if your answer is “No” then your first step will be to first remove the fear from your mind. Because the fear and greed of not making much money compels you to work without thinking. And this step of ours pushes us towards failure. Of course we all have feelings of fear and desire, but do not let them dominate us so much that we start taking direct decisions in reverse. It would be better to think a lot about what we do first. Always work with the mind, not with the heart. Ask yourself every morning are you able to do as much as you should? Are you able to make full use of your potential? Stop thinking like ordinary people who do work only and only for money. Stop thinking that “My boss pays less, I should get more, I can earn more”. Remember, you are only responsible for your problems, no one else is. If the boss does not increase your salary, do not accuse him, do not blame the tax. When you take responsibility for your own problems, then only you can solve it. This is the first lesson Amir Dade taught Robert. Part of this lesson was that Amir Dade hired him in a convenience store. They did not get any money for this work. They just kept working. The advantage of this is that he kept working from his heart and during this time many new ideas kept coming in his mind. He got many ideas about how to get the money behind him. He saw that the clerk of that store would tear the front page of the comics book in two. She would keep half and throw away half. A distributor used to come to the store late in the evening. He would take the top half of the comics book for credit and in return give new comics books. One day, he asked the distributor if he could get old comics books. He agreed on the condition that he would not sell those comics. This was a new business idea in his mind. He started renting those old comics books to his friends and other children to study. In return they used to charge 10 cents for every book. Every book was given for reading for only two hours, so in reality they were not selling them. They did not even have to work on the garage from where they used to rent comics. He hired Mike’s sister, for which he was paid $ 1 every week. In the same week he earned $ 9.5. In this way he learned that do not let money work for yourself, rather you work for money.

Lesson 2: Why to teach Financial Literacy?

In 1923, there was a meeting at Edgewater Beach Hotel, Chicago. Many leaders and very rich businessmen of the world became part of this meeting. Among them were Charles Schwab, the owner of a very large steel company, and Samuel Insul, the largest utility president at the time, and many other big businessmen. Many of these people died in poverty after 25 years of this meeting, some had committed suicide and many had lost their balance of mind. The real thing is that people get so involved in earning money that they forget to learn this special thing how to keep the money. It is the real thing to maintain whatever amount of money you want. And if you have learned this skill, then you will easily face any difficult situation. People who win millions in the lottery live happily for a few years but then get back to the same old condition. Most people have questions about how to become rich? Or what to do to get rich? Most people are disappointed with the response of these questions. But its true answer would be that you first learn to become a fanciful literate. Look! If you have to build the Empire State Building, then first you have to dig a deep pit, then a strong foundation will have to be laid for it. But if you want to build a small house, then by putting a 6 inch concrete slab, your work will also be done. But it is a pity that most of us want to build an Empire State Building on a 6 inch slab. And even if they do so, it is clear that the building will be destroyed. The poor Dade wanted Robert to study a lot, but the rich Dade wanted him to become a Financially literate. Most school systems teach just building houses, not strong foundations. School education and education have their own importance but in real life this is not all.

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