Does school prepare children for the real world? "Study hard and get good grades and you will find a high-paying job with great benefits," my parents used to say. Their goal in life was to provide a college education for my older sister and me, so that we would have the greatest chance for success in life.... This is how the "Rich Dad Poor Dad" books starts with.
- What is the difference in the world view and attitude of people who become rich compared to other people?
- What things do they do differently to have such different results in their lives?
This is very true, every one work for the happy life, but some of us succeeded in big way to earn money, being more happy and being able to do what they want to do in their life without compromising on living standards. There is a big difference between middle class thinking and rich class thinking about money. In "Rich Dad Poor Dad" this difference of thinking is very well described. Because the author him self has managed to come out of middle class and make his path to live the way he wants, his experiences and learning teaches well in this book.
If somebody wants some thing in life then there are two approaches for looking at it one is "I can't afford it!!!" and second is "How can I afford it?". If there is second approach in life then we start managing our resources in particular way so that we can afford to do what we really want to do...
Robert Kiskoyi author of the book has successfully worked out his experience & learning in this book. In "Rich Dad Poor Dad" it said that typical middle class person lives in "RAT RACE" i.e. every day is same, the whole pattern of life is same through out the journey of life. And some people make their own way. Simple shift in thinking make it work, we just need to look for options. As they say "If you want to get something which you never got, you have to do something which you never did!"
"Rich Dad Poor Dad" is a fascinating story of how Rich Dad taught Robert the lessons he needed to learn to make himself financially Independent. This book speaks about Financial Independence, after reading this book my attitude about money has changed, I got what the meaning of being financially independent? Why financial literacy is important and how it can affect the way you live your life?
"Rich Dad Poor Dad" also has a definition of Asses Vs Liability, which is far more different than conventional accounting. According to Robert and which is actually more appealing in Personal Finance; Asset is that which throws money to you and liability is something which will make your pocket empty. On personal level the Investment done by an Individual starts giving money after some time and liabilities simply takes away your money. We think house is our big Asset actually we are wrong house is the biggest liability, buying house doesn't give us money but creates certain liabilities which takes out money from our pocket on monthly basis. Rich people accumulate assets and non rich people accumulate liabilities things which look like assets are actually liabilities e.g. a car. When we accumulate such things, we are not really accumulating wealth, we are consuming it. Instead of acquiring such LIABILITIES, we should emphasize on regular investments in stocks, bonds, tax lien certificates, rental real estate, and other investments. We also need to learn to build value and get some tax shelter by building our own business.
Author of "Rich Dad Poor Dad"
Robert insists on the principle of compound interest and regular saving to achieve financial independence. The problem with this approach is it's a long, patient one. Most people get started too late for it to work.
Robert insists on the principle of compound interest and regular saving to achieve financial independence. The problem with this approach is it's a long, patient one. Most people get started too late for it to work."Rich Dad Poor Dad" is kind of book which actually opens the mind for new possibilities, new ways to looking at the personal finance, it shakes our mindset about money and actually make us think about new ideas to utilize money. It teaches us to be rich and not to think small and play the game called "RAT RACE" for whole life.
" is kind of book which actually opens the mind for new possibilities, new ways to looking at the personal finance, it shakes our mindset about money and actually make us think about new ideas to utilize money. It teaches us to be rich and not to think small and play the game called "RAT RACE" for whole life.Some people play for not LOSE
And
Some play to win
Choice is yours!!!
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