Rich Dad Poor Dad PDF

Rich Dad Poor Dad pdf

Download Rich Dad Poor Dad PDF free ebook by Robert Kiyosaki – Rich Dad Poor Dad is a 1997 book written by Robert Kiyosaki and Sharon Lechter. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude. Rich Dad Poor Dad PDF is written in the style of a set of parables, ostensibly based on Kiyosaki’s life. GET FREE AUDIOBOOK

Summary of Rich Dad Poor Dad PDF Free

Robert Kiyosaki had two fathers, one wealthy and the other impoverished. One had a Ph.D. and was so clever that he finished his undergraduate degree in only two years. The other parent failed to complete eighth grade. Despite the fact that both men worked hard, were successful, and made a lot of money, one was perpetually in debt. The second father, on the other hand, became one of Hawaii’s wealthiest men.

Kiyosaki found himself comparing his two fathers a lot because they have such distinct perspectives. It was difficult to decide which of his fathers he should listen to. Neither had yet achieved success. And, because they were still early in their careers, they were both having financial difficulties.

Financial education is not taught in schools. As a result, the poor and middle classes are in debt. Medicare and Social Security may run out if millions of individuals require financial or medical support.

The thinking shift from “I can’t afford that” to “How can I afford it?”

Instead of letting yourself off the hook, ” requires you to think.”

father who is wealthy and father who is poor
Poor Dad: The wealthy should pay a higher tax rate.

Taxes reward those who produce, says Rich Dad.

Poor Dad: Work hard in school so you can find a nice job.

Rich Dad: Work hard in school so you can own a good company.

I’m not wealthy because I have children, so I’m a poor father.

Rich Dad: I need to get rich because I have kids.

Poor Dad: Don’t bring up money during dinner.

Rich Dad: Over dinner, talk about money and business.

“Don’t take chances,” Dad advises.

“Learn to manage risk,” says the wealthy father.

Poor Dad: Your home is your most valuable asset.

A house is a liability, says the wealthy father.

It’s important to remember that if the government doesn’t spend its authorized funds, it risks losing money when the next budget is announced. They aren’t rewarded for being thrifty with their money. Entrepreneurs, on the other hand, are rewarded for their financial efficiency. Their mindsets are diametrically opposed.

To avoid paying taxes, the wealthy seek legal loopholes. That is why they frequently recruit the best accountants and lawyers.

Robert Kiyosaki, for example, employs one of these legal loopholes in real estate. The Internal Revenue Code has a clause called 1031 that permits a seller to defer paying taxes on a sale of real estate if they purchase a more expensive piece of real estate. As a result, by constantly trading up, he avoids paying taxes until it’s time to sell. He can also keep adding to his asset column using this method.

Understanding the law can help you save money (while also making sure you follow it).

Poor dad: he has to work his way up the corporate ladder.

Own the corporate ladder, rich dad.

Robert realized how depressing it was to look at his paycheck when he was in his mid-twenties and working for Xerox. His bosses would discuss promotions and pay raises with him. However, this simply served to increase his deductions. He might envision himself as his father’s poor son. This insight convinced him that he needed to follow in his wealthy father’s footsteps. So Robert got down to business, expanding his asset column in order to invest in Hawaii’s real estate market. He became more motivated to sell Xerox machines at work as a result of his newfound motivation. He was well aware that he was constructing something larger than himself.

After three years of hard effort, he was making more money in real estate than he was at Xerox. His first Porsche was purchased by his employer. His coworkers had no idea he was investing his commissions in assets rather than the Porsche.

Financial IQ is divided into four categories:

Ability to interpret numbers (accounting)
Investing is the concept of making money with your money.
Understanding markets entails a thorough understanding of supply and demand.
The law: understanding the tax benefits and protections that your company can supply
Benefits in terms of taxes: businesses can pay expenses before taxes, whereas employees cannot. A corporation can spend as much as it wants and simply pay taxes on what’s left over. Car payments, insurance, repairs, health club subscriptions, and most restaurant meals can all be deducted.
The wealthy employ businesses to shield their assets from creditors, whilst the poor and middle classes prefer to own everything personally.
Corporations and their owners

Taxes must be paid.
Employees who work for businesses

Taxes must be paid.
Lesson 5: The Rich Invent Money (Chapter 5)
“In the real world, it’s often the daring that succeed, not the smart.”

When businesses downsize, employees frequently accuse the owners of being unjust. “A terminated manager of approximately 45 years of age had his wife and two babies at the facility and was imploring the guards to let him talk to the owners to ask if they would rethink his termination,” Robert Kiyosaki says in a news article he read. He had recently purchased a home and was frightened of losing it.” We all have someone brave and someone who will plead on their knees.

However, if we are so terrified that we begin to doubt ourselves, we will be unable to move forward. Instead, the brave are the ones that succeed.

Attempt to transform your fear into strength.

“Having more options” is the result of improving financial knowledge and taking risks.

In the future, we’ll witness an increase in the number of successful businesses, as well as a rise in the number of businesses that fail, downsizing and laying off staff. It’s preferable to be making millions from the assets you create rather than hoping for a promotion. This is an excellent time to be accumulating assets.

Over time, wealth has accrued

300 years ago, a landowner was referred to as a “landowner.”
Later: the owner of factories and production facilities
Today’s winner is the individual who has the most up-to-date information.
“Those that understand mathematics and have a creative financial thinking are the players who get out of the Rat Race the quickest.”

father who is wealthy and father who is poor
Even if you have the money, you may find it difficult to get ahead financially.

Some people are presented with a fantastic chance only to be unable to take advantage of it due to a lack of financial resources. Others are presented with a fantastic chance only to be unable to identify that it is a fantastic opportunity (and they may even have the money to take advantage).

The normal person’s plan is to “work hard, save, and borrow,” however instead of working hard, they should strive to enhance their financial intelligence in order to earn more money. The folks who realize that money isn’t real are the ones who get rich the fastest.

“Our minds are the single most powerful asset we all possess.” It has the potential to generate great wealth if properly trained.”

Savers are now considered losers. This is due to the fact that interest rates have never been lower. Furthermore, banks now charge you for storing your funds.

Robert Kiyosaki was cash-strapped during the stock market crash because he had invested his money in the stock market and apartment buildings. He knew, however, that now was the time to buy. He and his wife have a million dollars to invest in some incredible opportunities. He made the decision to go house hunting at the bankruptcy attorney’s office. He approached a friend for a $2,000 loan with a $200 return in order to purchase a $20,000 home that was valued around $75,000. He subsequently advertised the residence for $60,000 in an ad. It was gone in a flash. He requested a processing fee of $2,500. As a result, he was able to return his friend’s money without having to use any of his own funds. With a promissory note, he made a profit of $40,000. It took him five hours to complete the task.

There had been three stock market disasters in the previous 30 years when Rich Dad Poor Dad was released.

Real estate, 1989-1990
The dot-com boom broke in 2001-2002.
The housing bubble exploded in 2008-2009.
All of these stock market meltdowns were opportunities for investors.

Which one appears to be the most difficult?

“Put forth your best effort. Taxes should be paid at a rate of 50%. Save what you can. Your savings earn 5% interest, which is taxed as well. OR
Take the time to improve your financial awareness. Use your brain and asset column to their full potential.”
Real estate and small-cap equities account for the majority of Robert Kiyosaki’s financial gains.

“The issue with’safe’ investments is that they are frequently sterilized, or made so safe that the returns are reduced.”

Robert Kiyosaki, for example, paid $45,000 for a house worth $65,000 that the owner was trying to sell. He rented it out to a local professor for the first year. He makes $40 per month after costs. However, when the market recovered a year later, he sold it for $95,000. He was able to delay capital gains since he utilized the money to purchase a larger property, a 12-unit apartment. The apartment cost him $300,000 to buy. After selling it for $495,000 two years later, he bought a 30-unit apartment building with a monthly cash flow of $5,000. He sold it for $1.2 million a few years later.

Newcomers are rarely offered the best discounts. They’re usually reserved for the wealthy. However, as you become more skilled at the game, you will be offered with more possibilities. The majority of Robert Kiyosaki’s fortunes began with small deposits of $5,000 or $10,000.

Robert has previously purchased 100,000 shares at 25 cents each before a firm goes public. The company then goes public, and whether it starts at $2 a share or rises to $20, you can make a million dollars in less than a year.

“If you know what you’re doing, it’s not gambling.” If you’re just throwing money at a contract and hoping for the best, it’s gambling.”

“Most individuals never win because they’re more terrified of losing,” says Robert Kiyosaki. That’s why I thought school was so ridiculous. We learn at school that mistakes are bad and that we will be penalized if we make them. However, we learn by making mistakes since that is how humans are created to learn. Falling down is how we learn to walk. We would never walk if we never fell down.”

People do not become wealthy because they are afraid of losing. “People who don’t want to fail also don’t want to succeed.”

father who is wealthy and father who is poor
An investor’s three competencies are:

Discover an opportunity that no one else has seen: see with your head rather than your eyes.
Raise funds: understand how to raise funds outside of a bank.
Organize clever people by hiring people who are smarter than you.
Lesson 6 in Chapter 6: Work to Learn – Not for Money
“To my educated father, job security was everything. My wealthy father placed a high value on education.”

father who is wealthy and father who is poor
Robert Kiyosaki discovered during an interview with a journalist that the journalist aspired to be a best-selling novelist. He saw she was a fantastic writer and encouraged her to pursue her passion. She said that she had tried but that no one seemed interested. When he advised her to take a sales course so she could advertise herself, he inadvertently upset her. She became irritated.

“I have a master’s degree in English literature,” she said. Why would I want to go to school to learn how to sell? I am an expert in my field. I went to school to learn a trade so that I wouldn’t have to sell anything. Salespeople irritate me. “All they want is money,” she said as she packed her belongings. Robert Kiyosaki gently reminded the audience that he was the best-selling author, not the best writer. This statement enraged her even more, and the interview came to an end.

Many accomplished and skilled people exist in the world: doctors, lawyers, and dentists, to name a few. Despite this, they continue to face financial difficulties. “They are one skill away from enormous fortune,” a wise business expert once stated. If you combined your skills with financial intelligence, accounting, investment, marketing, or law, you could reach great wealth.

About the Author

Best known as the author of Rich Dad Poor Dad―the #1 personal finance book of all time―Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve. Rich Dad Poor Dad free ebook

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education. Robert’s most recent books―Why the Rich Are Getting Richer and More Important Than Money―were published in the spring of last year to mark the 20th Anniversary of the 1997 release of Rich Dad Poor Dad. That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time.Rich Dad Poor Dad free ebook

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