rich dad poor dad book review by Robert Kiyosaki
- we’re gonna tell you why you should read Rich Dad Poor Dad by Robert Kiyosaki Rich Dad Poor Dad is a great personal finance book.
- It really teaches you the things that your parents and teachers haven’t taught you in the first edition was published in 1997.
- but the one I read was published in 2017 the 2017 version still has the same original story but it has updated for today’s world.
- what I really like about it is the study sessions it has after the chapters in the study sessions that give you a preview of the chapter you just read and it asks questions to ask yourself – it also has definitions of some terms that everyone might not know the meaning of this was one of the first personal.
- finance books that I read and I really enjoy learning from this book really opened my eyes about financial education its importance overall this was a great book to read and I hope you check it.
- buy now from amazon.india
- buy now from amazon.com
why you should read rich dad poor dad book?
- Its a very interesting book it’s actually not that practical in terms of investing money or what funds to invest in or how to buy property anything like that but its more about a state of mind.
- so basically this guy Robert Kiyosaki he’s from Hawaii and he is Japanese-American and he is talking about two dads in this book his dad was what he describes in the book as his poor dad who was actually university professor and his income wasn’t actually that low but it was just his state of mind. and another one is his friend’s dad who was a business owner.
- In this book both dads died after a period and the poor dad was doing a salaried job and rich dad doing business and rich dad has earned a lot of money that their children can also invest and enjoy from that money but poor dad doesn’t have any savings.
- There are so many things to learn from this book rich dad poor dad. you can implement these things in your day to day life.
1 – Two principles which I like the most
poor or middle-class people buy liabilities and the rich buy assets.
- The poor or middle-class people buy liabilities and the rich buy assets and what he means by that is when the poor get their paychecks they go out and buy things like cars, big screens and other things like that. they are gonna bleed money. you know a car after you’ve bought it you still actually have a lot of money to maintain it. so all these kind of thinks bleed money.
- If you buy assets that could include investing in stocks that are going to pay you dividends every year its gives you a cash flow every year it’s making your money work for you that same goes for property the rich will buy properties that they are able to rent out and get more income back from which covers all of the property taxes and maintenance and give them profit.
- Robert Kiyosaki, he actually was one of the first people to started thinking of personal property which is for a long time being thought of as an asset but he argued that it was a liability if you know just personal property that you live in unless its a property with a business plan or to rent and produce income from which, in that case, it would be turned into an asset.
How rich dad poor dad pay tax.
- Robert Kiyosaki explains the different ways in which the poor and the rich pay taxes and it turns out that poor actually pay a larger portion of their income as taxes then the rich do and this is because poor tend to be salaried employees and in this, we are including middle-income people also.
- But the rich aren’t employees they are owners of companies and if you own a company, whatever that company does whether it invests in real estate or buy stocks or maybe manufacture something and provides some sort of service and the money that company makes will be paid to you in the form of the dividend and dividends are taxed in different rates, they also earn money through capital gains, for example, buying a share and holding it for a period of time and then selling it.
- A classic example of this is that Donald Trump in the presidential campaign he wouldn’t release his tax returns and Hillary Clinton criticizes him for it during the debate and suggested that to release your tax returns because you haven’t paid any tax and Donald trump than smartly said that this make’s me smart.
so basically he is following the same thing that was written in the book and there all legal tips to invest smartly nonthing is illegal.
so read the full book and get advantage of this book. if you guys interested in this book just buy from below link and learn something new which matters your future a lot.
|POOR DAD||RICH DAD|
|we can’t buy this thing||How can I buy this? my |
mind started working on it.
|score good grades, to get|
a high profile job.
|study hard to hire |
|take a safe step where |
money is a question
|have guts to face your fear.|
we all know that money has power but in reality who has financial education they are the most powerful because once you get the money most of the people spend on their healthy lifestyle but who has the financial education, they are going to invest the money from where it can be increased or can earn more profits. the rich don’t work for money if you wanted to be rich use your brain and learn how to make money.
Ten Core Concepts from “Rich Dad Poor Dad” by Robert Kiyosaki.
|You will become what you study, so choose your study materials carefully.|
|Find people who are the best in their field. Then study and emulate them.|
|Failure inspires winners and defeats losers. Let failure inspire and motivate you, then move forward.|
|Be in control of your emotions.|
|Do not let fear or the opinions of others dictate your actions.|
|Surround yourself with people who are smarter than you, and pay them well.|
|Saying “I can’t afford it” shuts down your brain. Asking “How can I afford it?” opens up your brain and triggers your financial genius.|
|Listening is more important than talking.|
|Do not think with your mouth, but instead ask questions and absorb new ideas.|
|For most people, their profession is their income. For rich people, their assets are their income.|
|Work to learn, don’t work to earn. Find a job where you can learn.|
|Always have a clear purpose in mind.|