🔟 Lessons From The Book “Rich Dad, Poor Dad“
📚 Book Review (Thread)
📚 Book Review (Thread)
1⃣ One must not work for money, instead get money
to work for you.
Do you see any rich working hard for money?
Rich people don’t work for money, but money works
hard for them. This does not mean rich people do not
work hard, but they do it differently than most people
do.
to work for you.
Do you see any rich working hard for money?
Rich people don’t work for money, but money works
hard for them. This does not mean rich people do not
work hard, but they do it differently than most people
do.
2⃣ Use your brain to identify opportunities.
One must apply their brain to identify the hidden but
evident opportunities to become rich.
"I can not afford it" ❌
instead,
"How can I afford it?" ✅
Your brain will reply. Follow Rich Dad’s advice, not Poor
Dad’s.
One must apply their brain to identify the hidden but
evident opportunities to become rich.
"I can not afford it" ❌
instead,
"How can I afford it?" ✅
Your brain will reply. Follow Rich Dad’s advice, not Poor
Dad’s.
3⃣ Overcome these obstacles: Fear, Cynicism, Laziness,
Bad habits, and Arrogance.
🟢 “Don’t let the fear of losing be greater than the
excitement of winning”
🟢 “Cynics criticize, and winners analyze”
Bad habits, and Arrogance.
🟢 “Don’t let the fear of losing be greater than the
excitement of winning”
🟢 “Cynics criticize, and winners analyze”
4⃣ Learn to take the risk and learn its management
The riskiest part is when somebody is not willing to take
the risk.
Poor Dad: “Don’t take the risk.” Rich Dad: “Learn
to manage the risk.”
✅“There is always risk. Your job is to learn to
manage risk rather than avoid it.”
The riskiest part is when somebody is not willing to take
the risk.
Poor Dad: “Don’t take the risk.” Rich Dad: “Learn
to manage the risk.”
✅“There is always risk. Your job is to learn to
manage risk rather than avoid it.”
5⃣ Buy Real Estate
Real estate cannot be lost or stolen. You own a physical
asset, which is said to be the safest investment in the
world.
✅ Real estate investing, even on a very small scale,
remains a tried and true means of building an
individual’s cash flow and wealth.
Real estate cannot be lost or stolen. You own a physical
asset, which is said to be the safest investment in the
world.
✅ Real estate investing, even on a very small scale,
remains a tried and true means of building an
individual’s cash flow and wealth.
6⃣ Master these 4 skills: Accounting, Investing,
Understanding Markets & Understanding Laws
Accounting: Ability to read numbers and
understanding of balance sheets and Profit & Loss
statement.
Investing: Science of making money from money,
despite working for it very hard.
Understanding Markets & Understanding Laws
Accounting: Ability to read numbers and
understanding of balance sheets and Profit & Loss
statement.
Investing: Science of making money from money,
despite working for it very hard.
Understanding Markets: Knowing supply & demand of
market forces.
Understanding Law: Know when something gives you a
tax advantage. Because legal tax loopholes can make
you rich early.
market forces.
Understanding Law: Know when something gives you a
tax advantage. Because legal tax loopholes can make
you rich early.
7⃣ Be Bold
🟢 That it is not the smart people who become the rich,
but the bold who starts and moves ahead.
🟢 That it is not the smart people who become the rich,
but the bold who starts and moves ahead.
8⃣ One must not work for money, but work to learn
🟠 When we work to learn, the money follows.
🔴 Most people are one skill away from great wealth.
🟠 When we work to learn, the money follows.
🔴 Most people are one skill away from great wealth.
9⃣ Want to get rich quick: sharpen selling &
communication skills
🟠 Communication’ determines the level of your
wealth, and ‘Selling’ enhances an individual’s success.
🟢 The ability to sell is the number one skill in business.
communication skills
🟠 Communication’ determines the level of your
wealth, and ‘Selling’ enhances an individual’s success.
🟢 The ability to sell is the number one skill in business.
🔟 Old school: Just give & take back
🔴 Law of Money: “Give, and you shall receive.” It is
also the law of reciprocity that binds the receiver to
give something in return to the giver.
🔴 Law of Money: “Give, and you shall receive.” It is
also the law of reciprocity that binds the receiver to
give something in return to the giver.
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