10 LESSONS FROM RICH DAD POOR DAD BY ROBERT KIYOSAKI. Let us learn it one by one, in simple words & try to implement in our daily life.
Many people are able to make money, but not everyone learns how to manage it properly.
LESSON 1Manage your money:
Financial intelligence starts with learning the difference between assets and liabilities.Ensure that you have more money coming in than going out, which is what will make you richer.
Most people earn and spend their salary paying bills.A rich person always pays himself.Invest in - Courses - Books - Experiences
LESSON 2Pay Yourself First:
Invest your money where it grows at a higher rate than inflation..Saving weaken the purchasing power. Investment will increase the value of your money.
LESSON 3:Saving and investing are different:
If you are rich and lack financial literacy, you will end up paying a lot of taxes.
LESSON 4:Learn taxes:
The rich have their investments often in learning, so they have to pay fewer taxes.You need to have financial IQ in different areas like accounting, investing, market forces, and the law.
Most people rely on a single source of income.
You can never become rich and financially secure if you are one of those.
LESSON 5: Do not rely on a single source of income:
You should have 2 to 3 streams from where you earn money.
You will be in better position even if you face some financial crisis if you have multiple income streams.
Unless you take a risk, you cannot grow really big.
You should take a risk as some opportunities have the potential to change the course of your life.
LESSON 6: you become smarter by taking risk:
Intelligence solves problems and produces money.
Money without financial intelligence is money soon gone.
LESSON 7: Everyone needs to be a financially literate:
The sad part about the education system is, it teaches to work for money & never teaches how to make, manage, & keep the money.You should learn how to create wealth & make a plan to achieve financial freedom.
Poor dad always used to say” we can’t afford this “whereas rich dad teaches him to replace it with “how you can afford it?”.
LESSON 8: Mindset is everything:
In This way, replace your negative attitude into positive and you will definitely find ways to do achieve that target.Your attitude and mindset matters the most.
The first and foremost thing to do anything is that you must believe in yourself. Belief system works like a magnet.
Popular saying ‘If you are the smartest person in the room, then you are in the wrong room.’If you want to be smart, surround yourself with people smarter than you.
LESSON 9:
The situation only gets worse for you when you are not able to control your emotions.
LESSON 10: Control emotions:
The statement holds good for both personal and professional life situations.
You should learn to control your emotional balance and be focused on accomplishing your financial goals.