Skip to main content

Overview of Rich dad poor dad

"Rich Dad Poor Dad" is a personal finance book written by Robert Kiyosaki. It revolves around the author's two father figures, his own dad (poor dad) and his friend's dad (rich dad), who have contrasting views on money and wealth. Here's a summary of the key ideas:





Mindset: The book emphasizes the importance of cultivating a wealthy mindset. Kiyosaki believes that your thinking patterns and beliefs about money play a crucial role in determining your financial success.


Assets vs. Liabilities: The author introduces the concept of assets and liabilities. Assets are things that generate income and put money in your pocket, while liabilities are things that drain your money. Kiyosaki encourages individuals to focus on acquiring assets and minimizing liabilities.


Cash Flow: Kiyosaki highlights the significance of cash flow, which refers to the money coming in and going out of your life. He suggests striving for positive cash flow by increasing your income and reducing expenses.


Financial Education: The book emphasizes the importance of financial literacy and self-education. Kiyosaki believes that the education system often fails to teach crucial money management skills, and individuals should take the initiative to learn about investing, taxes, and other financial concepts.


The Rat Race: Kiyosaki describes the "rat race" as a cycle where people work for money, but financial freedom remains elusive. He encourages readers to break free from this cycle by focusing on building assets and creating passive income streams.


Real Estate and Investing: The author emphasizes the power of real estate and investing as means to build wealth. He shares his own experiences and promotes the idea of owning income-generating properties and making informed investment decisions.


Overall, "Rich Dad Poor Dad" challenges conventional wisdom about money and encourages readers to adopt a different mindset towards wealth creation. It emphasizes financial education, asset acquisition, and building passive income streams as key strategies to achieve financial independence. 

Labels:

Comments

Post a Comment

Popular posts from this blog

Trump extends visa sanctions on countries

  U.S. President Donald Trump has indefinitely extended the visa sanctions on countries refusing to repatriate their citizens who violated laws in the United States . The visa sanctions on such countries were set to expire on December 31. Mr. Trump issued a memorandum on April 10 which empowered the Secretary of State and the homeland  security secretary to deny visas to countries refusing to accept their citizens who voilate American laws. "In light of the ongoing COVID19 pandemic and the continuing public health risk it poses to Americans," Mr. Trump said in a memorandum issued on Wednesday that his April 10 "memorandum shall continue in force until terminated by the President".    The April 10 memorandum noted that countries " denying or unreasonably delaying " the repatriation of their citizens would be deemed to be causing " unacceptable public health risks for Americans". "Countries that deny or unreasonably delay the acceptance of t...
Post a Comment
Read more

How to become a Millionaire?

 If you want to become a millionaire follow our tips for 20+ days then you can easily update yourself in the competitive world 20+ days mean you won't become a millionaire in just 20 days . 20days is best to maintain your hobbies and you feel easier after 20 day that meant you will suffer a lot first 20 days to make up into to your new life journey . Hope you guys follow and win your goals  ok lets move into your topic TO BECOME A MILLIONAIRE Choose your carrier and Develop it  Every millionaires mindset : Hard work never fails  If you are trying to get some foods when you are in hunger in hotels but there is huge people was there in line to get the foods  what will you do there? comment your answer in comment box  (your answer is the best reason of hard work) Save and invest  for growth Make your salary into 3 parts  40 % for saving  40% for accommodation  20% for investment If you want to become a millionaire come out from your safe zo...
Post a Comment
Read more

Most Dangerous Aircraft Accident

Japan Airlines Flight 123 Japan Airlines Flight 123 was a scheduled domestic Japan Airlines passenger flight from Tokyo's Haneda Airport to Osaka International Airport, Japan. On August 12, 1985, a Boeing 747SR operating this route suffered a sudden decompression twelve minutes into the flight and crashed in the area of Mount Takamagahara, Ueno, Gunma Prefecture, 100 kilometres from Tokyo thirty-two minutes later. The crash site was on Osutaka Ridge. Japan's Aircraft Accident Investigation Commission officially concluded that the rapid decompression was caused by a faulty repair by Boeing technicians after a tailstrike incident during a landing at Osaka Airport in 1978. The rear bulkhead of the plane had been repaired with an improperly installed doubler plate, compromising the plane's airworthiness. Cabin pressurization continued to expand and contract the improperly repaired bulkhead until the day of the accident, when the faulty repair failed, causing a rapid decompressi...
Post a Comment
Read more