The book starts with the two different views of two dads. One rich dad and one poor dad. Both of them had different perspectives on almost everything. The poor dad said thongs like “I can’t afford it”, “The love of money is the root of all evil”, “Study hard to get a good company to work for”, “The reason I’m not rich is because of you kids”, “When it comes to money, play it safe, don’t takerisks”, “Our home is our largest investment an asset”; while the rich dad said things like “The lack of money is the root of all evil”, “How can I afford it”, “Study hard to find a good company to buy”, “The reason I must be rich is because of you kids”, “Learn to manage risks”, “My house is a liability, if it’s your largest investment you are in trouble”, “I don’t work for money, money works for me”.These are the two views the book gives us, choosing the view of the rich dad as the one to be taken by anyone in their life.
Today we live in a world that is under the same dogma. In school they teach to study hard, and that is the same everywhere, in the whole world. You are going to get to know a lot of people that are close-minded, when you actually need to be taught byopen-minded people. They teach you to be like everybody else, to be standard, no to get out of the standards, because of you do, you are going to be seen with bad eyes.
The majority of the people teach their children or even some teachers give their classes as they taught them when they were learning, but they have to understand that as time changes, everything does, and as a result new thingsand new ways of learning need to be done. Parents need to teach their children different things now, to prepare them for the open world.
That is the intention of this co-authored book, which in one moment was in pieces a now is ready to teach people on how to become rich.
Lesson 1: The rich don’t work for money
The poor and the middle class work for money. The richhave money work for them. That is the way of thinking rich people have, what makes them different. They don’t see how money affects them, but how they can affect money, how to produce it.
Life is always pushing you around. Some people give up and others fight. A few learn the lesson and move on. Rich are these type of group. You are only poor if you quit. Don’t quit, keep going. Don’t getcarried by emotions, specially the fear of not having money or losing it. You can make it easily again, but you need to get out of the trap and avoid the tar baby.
Lesson 2: Why teach financial literacy?
Assets are like planting a tree. When they get large enough, they start growing by themselves. They don’t need you anymore. Once you are able to do this you will try to keep for asmany generations you can.
If you want to be rich you need to be financially literate. The first things to know is the difference between an asset and a liability, and buy assets. Because assets put the money in your pocket and liabilities take the money out of your pocket. But this happens thanks to the cash flow pattern that is in your head. If this pattern is to spend, an increase in moneywill become an increase in spending. People need to understand that they don’t need to work for everyone else but themselves. They work for a company, they work for the government paying taxes and they work for the bank paying their mortgage.
The philosophy that a pay raise means you can buy a larger home or you can spend more is the foundation of today’s debt-ridden society. And you need tostop that by being financially literate.
Lesson 3: Mind your own business
There is a difference between your profession and your business. Your profession is what you studied, is always the same (salesman, doctor, firefighter, lawyer, etc.) and your business is the accumulation of income by minding your own business, not minding someone else’s business and making that person rich....
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