Rich Dad Poor Dad

Robert T. Kiyosaki, “Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” 

In his book the author tells the story of his two dads – his real father (“poor dad”) and the father of his best friend (“rich dad”). They both shaped the author’s thoughts about money and let him realize that in most families and schools the kids are not taught “the ABC of finance”. As a result, there are generations of people who don’t know how to manage money. In this bestseller you will find clear recommendations how to stop working for money and have the money work for you.

Top 10 lessons from this book:

1. It’s not how much money you make. It’s how much money you keep.

It’s not enough to make a lot of money. It’s crucial to know how to deal with it, to know the difference between assets and liabilities. Otherwise even the biggest money will not stay long with you.

2. The poor and the middle class work for money. The rich have money work for them.

Working for money is the easier path — it’s what we’re taught in school (how to write a resume, get a job, and work hard). Have your money work for you — by starting a company, being your own boss, or investing.

3. Money is just a tool.

Money is not good or evil. It’s just an instrument, like, for example, a pencil which can be used for writing a love poem or sticking the sharp end into someone’s eye. It’s not about the tool, it’s about the motivation of a person having the pencil or money.

4. It’s not the smart who get ahead, but the bold.

To get rich, you should take considered risks. Your financial genius requires both technical knowledge as well as courage.

5. People who avoid failure also avoid success.

We only learn when we make mistakes. A child learns to walk by falling. The same happens on your way to prosperity. Failures are an unavoidable part of the road to success.

6. Phrase your thoughts correctly.

A poor man says: “I cant afford it”. A rich man says: “By what means can I afford it?” A poor man says: “Ive lost”. A rich man says: “I havent lost enough”.

7. Don’t be afraid to lose everything.

There is a difference between being poor and being broke. Being broke is temporary, being poor is permanent.

8. Live in the present.

Your future is being made by what you are doing today and not what you will be doing tomorrow.

9. Hire people who are smarter than you are.

Smart people work with those who are smarter. If you’re doing the opposite you are destroying your company.

10. Don’t pay attention to other people’s judgements.

Do what you consider right because no matter what you do people will judge you. They will criticize you if you do something as well as if you don’t do anything.

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