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Leadership Series
15 LESSONS FROM RICH DAD, POOR DAD
Rich Dad, Poor Dad is a book by Robert Kiyosaki that teaches the difference between financial education and financial literacy.
The book is divided into four parts:
◦ Chapters 1-10: The author’s upbringing and how he learned the difference between financial education and financial literacy from his rich dad and poor dad.
◦ Chapters 11-19: The author’s explanation of assets and liabilities.
◦ Chapters 20-29: The author’s explanation of how to create a cash flow system.
◦ Chapters 30-36: The author’s explanation of the four quadrants of financial freedom.
Kiyosaki argues that the traditional education system does not teach people how to become financially literate, and that this is why so many people struggle with money.
He provides practical tips that readers can use to improve their financial literacy and achieve financial freedom.
Here are 15 lessons from Rich Dad, Poor Dad:
1. The rich don’t work for money: The rich invest their money so that it works for them. They build assets that generate cash flow, which allows them to live off their investments.
2. The poor and middle class work for money: The poor and middle class trade their time for money. They work for a salary, which is a limited amount of money that they have to spend each month.
3. Your house is not an asset: A house is a liability: It costs money to maintain and it doesn’t generate any income.
4. The rich focus on their assets: The rich focus on building assets that will generate cash flow for them. They know that assets are the key to financial freedom.
5. The poor and middle class focus on their liabilities: The poor and middle class focus on their expenses. They buy things that they can’t afford and they end up in debt.
6. The rich get richer: The rich get richer because they invest their money and it grows over time. The poor and middle class get poorer because they spend their money and it disappears.
7. The rich learn from their mistakes: The rich know that everyone makes mistakes. They don’t let their mistakes hold them back. They learn from their mistakes and move on.
8. The poor and middle class let their mistakes defeat them: The poor and middle class let their mistakes defeat them. They give up on their dreams and they stay stuck in the rat race.
9. The rich are willing to take risks: The rich know that in order to achieve great things, you have to take risks. They are not afraid to fail. They know that failure is just a learning experience.
10. The poor and middle class are afraid of risk: The poor and middle class are afraid of risk. They would rather play it safe than take a chance on success.
11. The rich are always learning: The rich know that the world is constantly changing and they need to stay ahead of the curve. They are always learning new things and they are always looking for new ways to improve their financial situation.
12. The poor and middle class stop learning: The poor and middle class stop learning after they finish school. They think they know everything they need to know about money and they don’t bother to keep up with the latest trends.
13. The rich network with other successful people: The rich know that surrounding themselves with successful people will help them to achieve their own goals. They make an effort to build relationships with other successful people.
14. The poor and middle class are content with their current situation: The poor and middle class are content with their current situation. They don’t believe that they can achieve anything more.
15. The rich are always striving for more: The rich are always striving for more. They don’t believe that they have arrived. They are always looking for ways to improve their financial situation and achieve their goals.
Thanks for reading
I hope these lessons help you to achieve financial freedom.
BOOK: https://amzn.to/3O3b11B
