Rich
Dad Poor Dad - The sub-title of this
book sums up what it’s all about - “What the
rich teach their kids about money; that the
poor and middle class do not!” If you are into personal
development, wealth creation ideas, or looking
for a less than conventional slant on our
current thinking about getting rich, then this
is the book for you!
The title of the book comes
from Robert Kiyoskai’s background and
experiences on how he learned the difference
between the rich and poor. The book follows the
lessons he learned from his ‘rich dad’. He
explains that he had two dads and his real dad was
the ‘poor dad’. Stuck in a job working for local
government, his philosophy was ‘get good grades;
get a safe secure job with great benefits’.
Robert’s other dad, his ‘rich
dad’ was actually his best friend’s father. He
was a self made man who had firm views on the
ways to get rich and get out of the rat race. At
the age of nine, Robert and his friend asked
their ‘rich dad’ to teach them the secrets of
getting rich. And so the lessons started and
continued until his ‘rich dad’s’ death.
The book breaks the myth
about getting good grades in school and then
finding a safe secure job. Robert points out
that our current method of schooling prepares
our children to follow this route and become
wage slaves, instead of allowing them to explore
the other path - being independent. There are 6
lessons on how to become financially free.
The Rich Don’t Work For Money
In the first lesson, Robert
shows how the rich have money work for them,
instead of working for money. He says we need to
get away from the idea of working for others!
Break the habit of accepting a regular salary.
Why Teach Financial Literacy?
Our schooling does not teach
us to be financially literate. We are brought up
to believe for example that our house is our
best asset. But Robert says that for most people
it’s a liability - they have a mortgage going
out, swallowing up cash each month. An asset, by
his definition, is something that creates
positive cash flow for you.
Mind Your Own Business
When you work for someone
else you end up minding their business. Keep
your day job but start looking for assets that
will create cash flow for you.
History of Taxes and the
Power of the Corporation
The key thought in this
lesson is that the employed earn their cash,
have taxes deducted and spend what’s left. The
self-employed or companies earn the cash, spend
it, and then pay taxes on what’s left! Which
makes more sense?
The Rich Invent Money
Robert shows that ideas can
create wealth - look at what happened during the
tech-boom. He explores how you can generate
ideas to create wealth.
Work to Learn - Don’t Work
For Money
Most people are just one
skill away from real wealth. The trick is to
realize this and find your missing skill. His
point is that we should initially find work from
which we can learn and then move on to learn the
next skill. In the end, you are ready to branch
out on your own!
The book is full of great
examples and stories, mostly based on the
conversations he had with his ‘rich dad’. This
makes the book both easy to read and to
understand the lessons. It provides answers to
questions which are very different from that of
our parents.
The message is clear:
re-think your approach to wealth and your
finances - prepare for getting rich!
There are Three Simple Steps To
Making Money
Online!
Charles Fuchs
Vision Management Enterprise Inc.
Instant Messengers
Yahoo ID: charlesfuchs
AOL AIM ID: Fuchs5000
