Rich Dad – Poor Dad’s Lessons [ 5 Most Needed ]

Rich Dad – Poor Dad’s Lessons [ 5 Most Needed ]

Last Updated on 2 weeks

Rich dad – Poor dad book that written by Robert Kiyosaki has the enormous power to change your thinking toward money and wealth. At any stage, the real truth is — life equals to money, no matter who you are. This book teaches us to become financially free — financial freedom that actually everyone wants.

Robert Kiyosaki is a legend because his other book known as the cash flow quadrant has the ability to change your thinking most toward the wealth and money.

Today, we’re just discussing the Rich Dad and Poor Dad book. So, let’s get into it.

 

#1 Money work for rich people whereas the rest of all work for money.

Do you ever think what makes rich people more rich and poor people poorer?? The answer is ‘the thinking (the belief)’

When you are at the first stage where you haven’t skills nor the assets that work for you; you need to work as a job worker but remember, rich people don’t stay in a job for long period. They believe that job isn’t the way to achieve financial freedom. It is a rat race.

Rich people have the mindset that teaches them to start the business at the early stage of life by their own talent or other intelligent people’s talent.
Rich people always overseer of the work not the front liner of work. As the duty of front liner, they hire other talented people who actually believe that job is everything — it’s the heaven and life.

When your business expanding, you must be started to diversifying your case-flow.

Lesson – Job is nothing but a useless activity whereas business is the process of achieving financial freedom.

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#2 It’s not how much money you make that matters — it’s how much money you keep.

As Warren Buffet says “Don’t save what is left after spending; spend what is left after saving.”

But most of the people want to neglect this [Warren buffet’s] thinking. They invest first and then the rest of all goes into the savings. This type of savings ends up in the worst financial future.

We must follow the warren buffet’s advice. As financial planners may recommend saving and investing 10% or 15% of your income on a regular basis, the aspiring rich may save 30%, 40%, and even 50% or more of their income.

Let’s take one example, one person has monthly revenue is $5000 and he saves up to 50% of his income — means $2500 dollars. In the end of the 10 years, he saves up to $3,00,000.

It’s insane to accumulate the habit of savings. To implement the Buffet’s approach to saving, invest a portion of your salary into a 401(k) and a Roth IRA. This not only guarantees that you’ll be saving for the future, but that you won’t be spending all your income.

Lesson – Savings until you perish.

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#3. Rich people acquire assets — not liabilities.

Does your home is your liability or your asset?? What you think will decide your belief system.

If you think your home is your asset then you should change your belief system as possible as fast. It means you need to understand the concept that rich dad ever says.

If your home is the source of expense then it is your liability actually but if you sell you home it becomes your asset for a while because it gives you money.

Rich people always collect assets that bring up money and diversify the case flow. Eventually, it creates a safe financial future.

Lesson:- Your home isn’t actually your home. It’s your liability. You daily pay to your home by expending money.

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#4. Take risks and become smart with experience.

There is one simple concept that I learn from the “Your first $100 million dollars.” known as an increased comfort zone.

What does it mean to increase your comfort zone?? It simply means is to take risks and be familiar with unfamiliar things. If you are afraid to take a ride of horse then take it. Be familiar with a horse ride, it actually increases your comfort zone.

In the Rich dad Poor dad lessons, by taking a calculated risk, you actually increase your chances to become financially free and more, you learn more important things than money ever teach you.

Rich people always take risks because they find opportunities in life that come and go, which can potentially turn them into billionaires.

Stop to be mediocre, take a calculated risk, and increase your comfort zone will lead to you in the financial freedom area. Remember take a calculated risk and try to strategize your investments.

Lesson:- Increase your comfort zone means to increase your knowledge by taking calculated risks.

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#5. Work to Acquire Life Skills, Not for Money.

As we already discussed, rich people work to learn not to earn. Let’s dive into the demonstration, think about your future. You are complete financially free. You don’t need more money — you satisfy. Then that time what do you do??

What do you think? My answer is, whatever skills that actually you learn from past times will help you to spend your time. Most people travel the world. Most people help others to achieve financial freedoms like Robert Kiyosaki itself.

The reality is, people just say that they work here to learn not to earn but actually they just want money. They don’t want any skills that actually help them in the future. In my opinion, they don’t even think about the financial freedom or about the future. They just need money.

But if you really want to become a millionaire or achieve financial freedom then you should get rid of that mindset that actually derails you. Time is important if you are between 17 to 23[by age].

Lesson:- Work to learn new skills not to earn just money.

There are no big things that you need to do to achieve financial freedom. Just follow those who have actually financial freedom. Find the right mentor or read the right books, ever help you to become financially free.

Go ahead by taking small steps and be unique to the rest of all.

Rakshit Makvana

A man who loves his pen more than his tooth-brush.

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