These are some straightforward take-aways from the book Rich Dad Poor Dad by Robert Kiyosaki.
- Get a financial education before investing anything
2. Risk means not knowing what you are supposed to know
3. Have an asset instead of a liability. Assets put money in your pocket. Liabilities take away money from your pocket.
4. If you want to be rich, you will lose money
5. Money might not necessarily fulfill you as a person, but you need to know how it works
6. Do not ask people who have never done what you want to do for advice they, will kill your dream; ask people who are in your business
7. You need to think and grow rich, not work and grow rich
8. Stop chasing higher paychecks, instead learn how to build and mind your business.
9. Pay yourself first
10. If someone has a higher salary; the higher the taxes
11. Working hard and earning money is an old idea, the new idea is acquiring the fastest information and using it. (yet hard work cannot be replaced)
12. Information is the wealth of this generation.
13. To be financially stable one must know accounting(numbers), investment( money-making money), understanding the market, and the law.
14. Focus is crucial to accomplish the financial status
15. Do not stop learning
16. Times change (especially since the pandemic!)
17. Be openminded
“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” — Robert Kiyosaki
“If you are going to get into debt, make sure it is small. If you take on large debt, make sure someone else pays for the debt” — Robert Kiyosaki
