Short Summary About ' Rich Dad Poor Dad '

 April 8, 

By _ajinkyamahadik_ 

 RICH DAD POOR DAD -( Robert Kiyosaki)

            An upset 9-year-old Robert along with his best friend mike who wasn't invited to a beach house party organised by rich kids questions his dad who was a teacher, dad how to become rich his dad in a confused tone said, well if you want to become a rich son, you need to learn to make money. 'Curious Robert further questioned, 'how to make money dad' to which his father replied 'Use your head son' which indirectly meant that he know-how to be rich but seeing the kid's curiosity he later advised, ' if you want to make money, learn from your best friend mike's father who is a businessman and in a few years will surely become rich and that's how Robert got his 2nd dad, The rich dad,

1) In his First lesson the rich dad revealed that the poor and middle-class work for money, whereas the rich have money to work for them' and this is what is the prime between the rich and poor. 

2) How to break the pattern? Well through the most important subject ' Financial literacy'.

3) The First rule of Financial literacy is to know the difference between Assets and Liabilities rich dad always said the rich acquire an asset,  poor and middle class acquire liabilities they think are assets, hence our first duty is to know the difference and buy the only asset. 

4) Apart from assets and liability, rich dad also has his own definition of wealth, he used to recite the quote 'wealth is a person's ability to survive so many numbers of days forward or if I stopped working today, how long could I survive. 

5) The asset for your passive income can be a business that doesn't require your presence [ ex. Income from real estate] - Bonds, Mutual Funds, Stocks, Intellectual Property like Music, Art, Script, Patents.

6) You work for money or money works for you.

7) The Single most powerful asset we all have is our 'Mind'.

This Book has 3 Objectives.

1. To show how a rich person handles money differently than a poor and middle-class person. 

2. To open your eyes to the fact that 'Go to school, get good grades, find a good high paying job 'Does not necessarily guarantee financial independence.

3. To make use of the most powerful assets that you are gifted with 'Your mind' 

CONCLUSION:-

I would advise you to read that beautiful books, it's one of my best reads and I still advise people to read that.

I wish...you liked this blog! If you have any suggestions and opinions then feel free to leave a comment.

Thanking you! 😇