Before you start reading the book, I think it's better to read John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1 instead. It's actually. Rich Dad Poor Dad by Robert Kiyosaki summarises the lessons learned from two different perspectives, that of a poor man, and that of a rich. If you purchase this book without a cover, or purchase a PDF, jpg, or tiff copy of this book, years ago, Robert Kiyosaki challenged conventional wisdom with his In , Robert's book, Rich Dad's Prophecy, advised that we prepare for.
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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money. Pages· · MB·, Rich Dad's Guide to Investing-Robert lesforgesdessalles.info Rich Dad Poor Dad. Robert T. Kiyosaki. INTRODUCTION. There is a Need. Does school prepare children for the real world? “Study hard and get good grades. That The Poor And Middle Class Do Not! By Robert T. Kiyosaki. RICH. DAD If you purchase this book without a cover, or purchase a PDF, jpg, or tiff copy of.
At times, I am that person, too. April 9, at 9: Most people become a slave to money… and then get angry at their boss. President Richard Nixon took the U. April 11, at 6:
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My Money Blog. Share this: Filed Under: Last updated: August 19, Comments Andy says: April 9, at 6: Mike says: April 9, at 9: Max says: April 9, at 7: Site seems overloaded.. D says: April 9, at Brutal critique here: Tom Price says: April 11, at 6: Printing fake money is the way banks make money.
Banks are not the only organization with a license to print money.
The stock market, bond market, real estate market, financial derivatives markets, and many other markets have licenses to print money. Printing money is not new. Printing fake money is the foundation of the banking system. Understanding how money is printed offers you a better chance of doing well, in a world of fake money.
Understanding how money is printed, you will better understand why poor people are poor and how not to be one of them. For thousands of years, money has taken many forms.
Money has been beads, feathers, stones, animals, and pottery.
One of the earliest and most important forms of money has been cattle. Cattle have been the foundation for modern money for thousands of years. Cattle is real money, even today. Financial Literacy: Words, derived from cattle. I do not trust myself.
I know I do not know everything. I do not have all the answers. I cannot predict the future. I know I must prepare for the future. I do not trust the elites who run our governments, banks, and Wall Street. I do not trust anyone who prints fake money.
Real gold and silver have been here since the earth was formed. Gold and silver were here before the cockroaches and will be here long after the cockroaches are gone. It was a lesson from of the three Wise Men. My Sunday school teacher was a great teacher.
She was young, pretty, and loved teaching kids. During one class, she asked us: They came bearing expensive gifts. They were rich and wise men. Obviously, that was not the answer she was looking for. After a few other students attempted their answers, she smiled and said: Pausing for a moment to let that thought sink in, into the minds of kids below the age of 12, she continued by saying: They kept seeking new knowledge, knowledge from great teachers.
There were approximately servicemen on board, returning from Vietnam. I was officer-in-charge of the 16 Marines from the carrier. The first thing we all noticed was the large crowds of anti-war protestors waiting for us.
Most people become a slave to money… and then get angry at their boss.
Kiyosaki explains that almost everyone has a price, and this price is defined because of fear combined with greed. As we previously discussed, the fear of having no money drives us to work hard.
But once we are paid, greed sets in and we plan how to spend all of our money on exciting things. Offer them more money, and they continue the cycle by also increasing their spending. This is the Rat Race.
Desire is another emotion that keeps people in the current jobs. Despite the fact that their job may bring them no joy, the continue working because they have a desire for money and the things that money can buy. However, Kiyosaki explains that joy from money is only ever temporary, something new is only new for a very short period of time. And suddenly you are left wanting for more, and to get more, you need more money.
The assumption is that money solves all problems and brings joy, but Kiyosaki believes that the reality is that money does almost the opposite.
You are blinded by your paychecks. And often these opportunities are missed because everyone is too concerned about the security that a job and a paycheck can bring. Kiyosaki explains that everyone is looking for a quick fix, the magic answer or formula to make their riches. However, he explains that the only way to get rich is to become financially literate. The education is absolutely fundamental. Kiyosaki appreciates that accounting is boring, complicated and dull.
However, despite its downfalls, accounting is the most important thing you can learn and understand if you want to make money in the long-term. Keep it simple and straightforward but make sure that they know the essentials.
Kiyosaki emphasises the importance of understanding that there is a clear difference between assets and liabilities. You cannot spend your life buying liabilities, you need to be buying assets.
Kiyosaki explains that rich people acquire assets and poor people acquire liabilities. There should be one clear way to tell whether something is an asset or a liability.
Ask yourself, does it put money in your pocket, or take money out? An asset will put money into your pocket, be constantly providing a return.
Whereas a liability will simply be sucking up your already limited funds. If you want to be rich, simply spend your life buying assets. If you want to be poor or middle class, spend your life buying liabilities. And we know by now that spending more is not related to being happier. Kiyosaki explains that too many working professionals are struggling financially, they find themselves working harder and harder but never getting any further.
The main reasons that people are entering the workforce with little financial education.
Whatever they have been taught in schools tends to be focused on how to make money, they forget about the importance of what to do with it when you have it and how to spend money wisely.
SO one of the biggest questions we face now is about owning a house. Is a house considered an asset or a liability? Kiyosaki explains that the majority of working professionals never actually own their homes, they spend their entire working life paying off a mortgage.
The pattern of upgrading and buying a new house every few years leads to new year loans, each one larger than the previous. Kiyosaki believes that having all of your money tied up in your house results in missed opportunities. You are forced to work harder and are fearful of ever being in a position without a regular, steady income.
You pour all of your hard earned cash into the house leaving little to invest in any other assets. Kiyosaki points out that most people purchase houses that are in fact too expensive, this is often because banks are all too happy to lend big amounts of money with high interest.
By purchasing a house that is outside of your reasonable budget you are missing out on opportunities. Kiyosaki explains that you lose time, the time spent paying off your mortgage is time you lose with other assets that could be growing in value.