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.

Poor Dad: First and foremost, pay your debts.

Rich Dad: Last but not least, pay your bills.

Dad is a poor man who is trying to save a few cash.

Rich Dad is a businessman who makes investments.

Poor Dad: teaches you how to make a good résumé.

Rich Dad teaches you how to put together a solid business and financial strategy.

“I’ll never be wealthy,” Dad laments.

“I’m a rich man, and affluent people don’t do this,” Rich Dad says.

Lesson 1 in Chapter 1: The Rich Do Not Work For Money
“Both the impoverished and the middle classes labor for a living. “Money works for the wealthy.”

Quotes by Robert Kiyosaki
Robert Kiyosaki attended the same school as the rich kids when he was younger, simply because he lived on the opposite side of the street. He sought a solution to the issue, “How can I make money?” because he was impoverished in a school full of wealthy pupils. ”

Mike, his best friend, was equally poor, so the two started up a connection. One Saturday morning, the two spent the entire morning discussing all of the different ways they could generate money. Their first project was not only a failure, but it was also illegal. They planned to generate money by casting nickels out of lead. The couple went back to the drawing board after a quick explanation on counterfeiting rules from Robert Kiyosaki’s destitute father.

Mike’s father (Robert Kiyosaki’s rich father) proposed that the two learn how to make money from Robert Kiyosaki’s impoverished father. The poor father had heard from his banker how successful the wealthy father is at making money. Mike set up a time for the two to meet, and they began their lessons.

Robert Kiyosaki came on time for his meeting with Mike’s father at 8:00 a.m. When the meeting began, the wealthy father told the two that he would be happy to educate them, but that he would not be doing so in a traditional classroom setting. He recommended that the two boys work for him in order for him to train them more quickly. The two were not permitted to inquire about the deal. As a result, the first lesson was learned: opportunities come and go, therefore seize them while they are still available. Every Saturday, he offered to pay Robert and Mike ten cents an hour for three hours.

Robert informed Mike that he wanted to leave after a few weeks of doing unbearably monotonous work. Mike’s father had hoped for a positive response.

Before meeting with his wealthy father, Robert Kiyosaki’s poor father advised him to demand at least 25 cents per hour and to quit his job if he didn’t obtain it. Robert went to see his wealthy father but had to wait 60 minutes longer than anticipated, which irritated him. Robert believed that his wealthy father had broken his promise to teach him and was simply trying to exploit him by forcing him to work for him.

After barely one month, his wealthy father realized that Robert sounded like one of his employees. Rich dad insisted that he was instructing Robert, but in the way that life instructs rather than the manner in which school instructs. Although most individuals get their education from books, which is the least effective method, doing is the most effective way to learn.

The key lesson he imparted that day at the office was that Robert could either end up like his staff, blaming others for his troubles, or he could choose a different path and become wealthy.

Rich dad had urged that the two lads find a new source of income other than working for others.

“The poor and middle classes work for money,” says the first lesson. “Money works for the wealthy.”

Rich dad also expressed his delight that Robert Kiyosaki became enraged. “Fury is a significant part of the process,” he continued, “since passion is anger and love united.” Fear is what motivates employees to exploit themselves.

quotations from wealthy fathers
“…it’s fear that keeps most people working at a job: the worry of not being able to pay their bills, the fear of getting fired, the fear of not having enough money, and the dread of having to start over,” Rich Dad stated.

When employees get their paychecks, especially after tax and deductions, they are sometimes dissatisfied. This was Robert’s first encounter with taxes at the age of nine. It’s also how he discovered that the wealthy, despite their wealth, do not allow the government to do such things to them.

Rich dad devised a new contract in which Robert would continue to work for him, but for free. Robert and Mike worked for their wealthy father for free for the following three weeks. Then, on the third Saturday, he took them to an ice cream parlor. He chose to introduce him to the rat race’s trap. He did it by offering them twenty-five cents each hour. They declined. The wealthy father then offered a dollar an hour. They declined. After that, it’s two dollars an hour. They declined. Then there’s a five-dollar-an-hour rate. And they said no once more. The lads were well aware that they could not be purchased. They were dead set on making money.

Poor individuals frequently claim that they are uninterested in money, as Rich Dad later pointed out. Robert Kiyosaki remembered his father telling him, “I’m not interested in money.” “I work because I enjoy my job,” poor individuals commonly say to hide their poverty.

It’s critical not to give in to your emotions, such as fear, in order to avoid making hasty decisions and thinking rationally about a scenario. In actuality, a job is really a temporary fix for a long-term problem. Rich dad’s main goal is to teach his sons how to think for themselves rather than react to situations with a knee-jerk reaction.

In this portion of Rich Dad Poor Dad, one of the most empowering things Rich Dad taught was to “keep using your brain, labor for free, and eventually your mind will reveal you ways of producing money much beyond anything I could ever pay you.” You will be able to see things that others will never be able to see. Because most individuals are only looking for money and stability, they never recognize these opportunities.”

Quotes about rich and poor fathers
This lesson motivated the two youngsters to seek for a new source of income. They witnessed Mrs. Martin ripping the covers off the comic books and tossing them into a cardboard box one Saturday. Because they couldn’t market the comic books, they decided to open a library for a fee where other kids could come and read as many as they wanted between 2:30 and 4:30 p.m. 3:30 p.m. and 4:30 p.m. For only ten cents every day after school. For the other youngsters who might have spent 10 cents on a comic book, this price was a steal. They made roughly $9.50 each week on average, while paying Mike’s sister one dollar per week to administer the library. After three months, a quarrel broke out in the library, prompting Mike’s father to advise them to close up shop. They did, however, figure out how to make money work for them rather than the other way around.

Lesson 2 in Chapter 2: Why Teach Financial Literacy?
“It’s not about the amount of money you make. It all boils down to how much money you keep.”

At the age of 47, Robert Kiyosaki announced his retirement. He still works, but he and his wife, Kim, have the option of not working because their fortune will continue to increase on its own.

Robert Kiyosaki tells a simple anecdote in this portion of Rich Dad, Poor Dad. In 1923, the world’s most powerful leaders and wealthiest businesspeople gathered in Chicago for a summit. Nine of them were killed in the following manner twenty-five years later:

Four people died as a result of their debts.
One of them became insane.
Two people have been released from prison.
Two people took their own lives.
This terrible turn was most likely caused by the 1929 stock market crash and the Great Depression, which had a significant impact on their lives.

The most important financial lesson is that it is all about how much money you keep, not how much money you make. And if you don’t know how to manage your money, you’ll lose it quickly.

Growing up, Robert’s poor father advised him to read literature, while his wealthier father advised him to learn financial literacy. “The first thing you need to do if you’re going to build the Empire State Building is dig a deep hole and pour a robust foundation,” Robert says. You only need to pour a six-inch slab of concrete if you want to build a house in the suburbs. Most individuals are attempting to construct the Empire State Building on a six-inch slab in their quest for wealth.”

Quotes by Robert Kiyosaki
If your long-term objective is to be wealthy, you must master accounting — no matter how boring you think the subject is.

Rule #1: You must be able to distinguish between an asset and a liability, and you must purchase assets.

“Wealthy people amass assets. “The low and middle classes accumulate liabilities that they mistake for assets,” says affluent dad.

The most difficult thing for poor people to understand is the distinction between an asset and a liability. Understanding the differences between the two can assist you in becoming wealthy.

So, what’s the difference between the two?

An asset is anything that puts money in your pocket. A obligation depletes your bank account.

Assets help you earn more money. Liabilities increase your costs. And working as a poor person pays you enough to cover your bills. A middle-class job pays you an income, then pays down your debts, then pays your costs. A wealthy person’s assets, on the other hand, provide them with a source of income. Their assets may provide them with rental revenue, dividends, interest, or royalties, for example.

The following are some instances of middle-class liabilities:

Mortgage
Loans for automobiles
Debt on a credit card
Student loans
Here are some instances of wealthy people’s assets:

Investing in real estate
Stocks
Bonds
Notes
Intellectual property is something that belongs to you.
“I’m in debt, so I need to make more money,” many poor or middle-class people say. However, getting money isn’t a problem. The issue here is a lack of financial knowledge. As a result, if they just had more money, the problem might get worse. That’s why, even if someone wins the lottery or receives a promotion, they frequently find themselves in the same financial condition as before. If someone spends whatever they have, the trend will repeat itself every time they make money.

Professional success is no longer inextricably linked to academic achievement. The majority of students graduate from high school with only rudimentary financial knowledge. They get into financial difficulties later in life. They need to know how to manage their money more than how to create money. This ability is referred to as financial aptitude. The vast majority of individuals learned how to work hard rather than how to make money work for them.

In the long term, taxes hurt the poor and middle class. Property taxes rise as people buy larger homes to raise their families. As people’s earnings climb over time, so does their social security tax. Their liabilities column quickly fills up with a mortgage and credit card debt. As a result, they are trapped in the rat race.

The key to knowing how to make money is to focus on building assets rather than obligations.

“He who owns the gold makes the rules,” says the Golden Rule.

rule of thumb
“Most financial issues are generated by attempting to keep up with the Joneses,” says one expert. You could buy a bigger house, work more, or seek a promotion or pay raise to keep up with the Joneses.

Mike and Robert used to work for their wealthy father as youngsters. They looked at how he met with his bankers, attorneys, accountants, and investors, among other people. Despite the fact that his wealthy father had dropped out of school at the age of 13, he was now in charge of a group of highly educated individuals.

“An intelligent guy hires people who are more intelligent than he is,” Rich Dad used to tell the two teenagers on a daily basis.

Robert discovered as a teenager that he knew more about money than his poor father since he could manage records and spent a lot of time listening to bankers, tax accountants, real estate brokers, and others.

Many individuals regard their home as an asset, according to Robert Kiyosaki in this portion of Rich Dad Poor Dad. The value of a home, on the other hand, does not necessarily rise. People occasionally purchase million-dollar homes that would sell for far less. Property taxes soared to $1,000 per month for retirees like Kim’s parents, putting a burden on their finances.

When Robert wants to buy a bigger house, he “first acquires assets that will provide the cash flow to pay for the house,” and he explains that as you build your asset column, your income will grow as well. And that’s why the wealthiest keep getting richer, while the middle class struggles since taxes rise in lockstep with their earnings.

Employees are assigned to one of three groups:

The company’s goal is to make the owners and shareholders wealthy.
Government: From January to May, it’s possible that 100% of your time is spent on taxes.
Bank: Your mortgage and credit card debt are your two main bills.
“Wealth is a person’s ability to survive for a certain number of days in the future– or, how long could I survive if I stopped working today?”

For example, if a person receives $1,000 in cash flow from their asset column each month and has $2,000 in monthly costs, they will only be wealthy until they get $2,000 in cash flow to their asset column each month.

The average American has less than $400 in savings, with 34% of the population having no savings at all.

To summarize:

“Assets are purchased by the wealthy.
The impoverished just have bills to pay.
The middle class purchases liabilities in the mistaken belief that they are purchasing assets.”
Lesson 3 in Chapter 3: Mind Your Own Business
“The wealthy concentrate on their asset columns, while the rest of us concentrate on our income lines.”

While most people assume McDonald’s founder Ray Kroc is in the hamburger industry, Kroc famously informed an MBA class that he is in the real estate business. That is why he selects each franchise location with care. McDonald’s now owns more land than any other organization on the planet, including the Catholic Church.

“What is your business?” someone would ask the average person.

” They usually react by stating their occupation. They are not, however, owners of the company for which they work. They still require their own company. Otherwise, they’ll spend the rest of their lives working for someone other than themselves. That is why it is critical to mind your own business.

Spending your life putting money into someone else’s pocket rather than your own causes financial difficulty. However, if they work for others, they will be reliant on pay hikes, second employment, or overtime.

You’ll be stuck to your job and its stability for the rest of your life if you don’t have a financial basis.

It’s crucial to keep in mind, though, that entrepreneurship can be a difficult route to navigate. Robert Kiyosaki attempted to obtain a loan in one occasion. He had a lot of real estate properties, which the lending committee noticed. They couldn’t comprehend why he didn’t have a paycheck or a regular job. Despite the fact that he had many assets at the time, including Armani outfits, paintings, golf clubs, and, of course, real estate.

It’s also worth noting that the government taxes you on the earnings you make when you sell your possessions. “Keep your costs modest, eliminate liabilities, and diligently develop a base of solid assets,” Robert advises. If you have children, encourage them to build assets before moving out and falling into the rat race.

Here are some other assets that Robert suggests you or your children acquire:

“I’m only interested in jobs that don’t necessitate my presence.” They are mine, but they are not managed or run by anyone else. It’s not a business if I have to work there. It becomes my responsibility.
Stocks
Bonds
Real estate that generates income
Observations (IOUs)
Music, scripts, and patent royalties are examples of intellectual property royalties.
Anything else with value, income, or appreciation potential, as well as a ready market”
“If you don’t love it, you won’t take care of it,” my wealthy father used to remark.

Quotes by Robert Kiyosaki
You can keep your day job while investing in assets such as those listed above.

Because 90% of businesses fail, Robert Kiyosaki’s goal is to sell a company’s whole shares within a year of coming public.

You’ll need to buy luxuries that will last if you want to grow wealthy. People who prioritize buying luxuries end up with a lot of debt. The goal is to create income-generating assets that can be used to purchase pleasures.

Lesson 4: The History of Taxes and Corporate Power Chapter 4: The History of Taxes and Corporate Power
“My wealthy father simply played the game smartly, and he did so through corporations– the richest man’s secret.”

quotations from wealthy fathers
“Why don’t the rich pay for it?” the poor frequently ask.
‘ or ‘The wealthy should pay higher taxes and distribute the proceeds to the needy.'” However, the truly wealthy never pay taxes. The educated and middle classes are the ones who pay taxes.

While poor dad was well-versed in the history of education, rich dad was well-versed in the history of taxes. Taxes were first used to pay for wars in England and America. It wasn’t until 1874 that England made income taxes a permanent necessity for all of its residents. For Americans, it began in 1913. One fascinating fact regarding taxes is that they were once only paid by the wealthy. That’s what governments told the poor and middle classes in order to persuade people to support the plan. That is how it came to be passed in the first place.

Poor dad: hired to spend money and hire people; the larger the government becomes, the more respect it earns.

Rich father earns investor esteem by spending and hiring less.

The wealthy are “greedy crooks,” according to his father.

The government is a bunch of ‘lazy thieves,’ according to a wealthy father.

The wealthy are not taxed because tax regulations assist them in creating jobs and housing. As a result, the government’s tax revenue is reliant on the middle class.

The wealthy invest their funds in a corporation. Their asset generates revenue for their corporation, which can then be used to generate revenue for their personal income statement. And the expenses from their personal income statement might be added to the corporation’s expenses. Despite the fact that the masses are constantly trying to find new ways to tax the wealthy, the wealthy continue to outsmart them.

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

Earn
Spend
Taxes must be paid.
Employees who work for businesses

Earn
Taxes must be paid.
Spend
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.

If that journalist had taken a job at an ad agency to learn how to sell instead, she could have made a fortune with her writing.

“You want to know a little bit about a lot,” says the wealthy father. You’re expected to specialize in school and at work. Those that advance in their careers are usually specialists. Robert Kiyosaki’s wealthy father, on the other hand, constantly advised the opposite. That’s why, over the years, Robert worked in various departments of his wealthy father’s business. He was scheduled to meet with attorneys, bankers, and accountants. Robert needed to understand every facet of building an empire for his wealthy father.

Robert Kiyosaki’s poor father had a heart-to-heart with him after he resigned his high-paying career, unable to grasp his motivation for resigning.

Dad is a poor man who places a high importance on work stability.

Rich father places a high priority on education.

Robert went to school to study how to be a ship’s officer, according to his father.

Robert’s wealthy father was aware that he had gone there to study international trade.

“If you’re not a good leader, you’ll get shot in the back, just like they do in business,” Robert’s affluent father warned, “you’ll get shot in the back, just like they do in business.”

“‘Just Over Broke’ is an abbreviation for ‘Job.'”

Instead of picking jobs that pay the most, Robert Kiyosaki advises taking employment where you can develop new skills.

The greatest concern of senior citizens is running out of money before they pass away. When health care expenditures and long-term nursing home care are factored in, the ordinary American retiree is likely to run out of money.

“Are workers looking ahead or merely waiting for their next paycheck, never questioning their path?”

Robert Kiyosaki’s best suggestion for anyone trying to make more money is to take on a second job that will teach them a new talent.

It’s natural to have some reservations about that notion; you might not be enthusiastic about doing something you don’t care about. But keep in mind that you go to the gym not to have fun, but to be healthy and live a long life.

Robert tells the story of a Hawaiian artist who inherited $35,000 from his father. He spent the money on advertisements in a high-end magazine aimed at the wealthy. However, no one got in touch with me. He had spent all of his savings. The artist is now attempting to sue the publication for defamation. However, the truth is that he had no prior expertise in the advertising industry. When Robert asked if he’d like to take a course, he answered, “I don’t have the time, and I don’t want to waste my money.” Most people are more concerned with enhancing their product than with learning how to market it.

Success Requires Management Skills:

Cash flow management
System administration
Human resource management
“Sales and marketing are the most crucial specialist talents.”

“Sales = Income,” says Blair Singer, a friend of Robert Kiyosaki. Your ability to sell– your ability to communicate and position your strengths– has a direct bearing on your success.”

Most people are afraid of rejection, which is why sales and marketing can be intimidating.

“Give and you shall receive,” says the Money Law.

“In the end, I became both dads,” Robert says. One part of me is a die-hard capitalist who enjoys the game of money. The other half is a socially conscious instructor who is concerned about the growing divide between the haves and have-nots. This widening chasm is, in my opinion, mostly due to the outdated educational system.”

Chapter 7: Overcoming Difficulties
“How a rich person manages fear is the major difference between a rich person and a poor person.”

Even the financially knowledgeable do not become financially independent for five reasons:

Fear
Cynicism
Laziness
Unhealthy habits
Arrogance
Even the wealthy do not enjoy losing money. No one knows for sure. “Some people are afraid of snakes,” adds the wealthy father. Some people are paralyzed by the fear of losing money. Both are phobias,” Robert’s wealthy father knew how important it was to teach his two kids how to take risks at a young age. It is simpler to get wealthy while you are young.

Take a Texan approach to risk. The Texans have a history of great wins and big losses. It’s their mindset that makes all the difference. When they win, they are ecstatic, but even when they lose, they gloat. They don’t have a fear of losing. Their grief motivates them.

You lose before you win. Like all those times you fell off your bike before learning how to ride it. People used to lose money before they were wealthy. The majority of individuals are more fearful of the pain of losing money than of the joy of being wealthy.

“Rich dad understood that failure would only strengthen and educate him.”

Losers are defeated by their defeat. Loss invigorates winners. You can still despise losing without fearing it.

The majority of consumers invest in low-yield mutual funds because they believe it is the safest option. But that isn’t a winning portfolio.

Instead of being balanced, you’ll need to be focused to be effective.

FOCUS: Stick to one path until you succeed.

quotation by Robert Kiyosaki
Don’t let doubt stop you from taking action. “What makes you think you can do that?” “‘What makes you think you can do that?” “‘What makes you think you can do that?” “‘What makes you think you can do that?” ‘How come no one else has done it if it’s such a brilliant idea?’ ‘That isn’t going to work. ‘You have no idea what you’re talking about,’ I say.

Investors understand that the best time to make money is during a period of dread and gloom.

Richard, a friend of Robert’s, recently sought his help on purchasing a home. For only $42,000, the two of them found a two-bedroom townhouse. Others were selling for $65,000 at the time. He purchased it. However, after speaking with a neighbor, he decided to leave, believing he had been taken advantage of. The property was valued $95,000 just a few years later. And Richard’s $5,000 investment could have gotten him out of the Rat Race. Doubt may sabotage a transaction.

When it comes to financial education, it’s important to understand the distinction between good and bad debt. Instead of criticizing, analyze.

Most individuals claim to be too busy to think about their wealth and health, but they’re actually avoiding it.

“Rich dad thought that saying ‘I can’t afford it’ made your brain shut down. ‘How am I going to pay for it?’ ‘Opens up possibilities, excitement, and dreams,” said the rich father, who instead of purchasing his children whatever they wanted, urged them to consider how they could afford it. Robert and Mike were never given anything by their wealthy father. The boys were on their own when it came to paying for college.

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Description of Rich Dad Poor Dad PDF

Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing.
You don’t need to earn a high income to be rich.
Rich people make money work for them


Rich Dad Poor Dad has sold over 32 million copies in more than 51 languages across more than 109 countries been on the New York Times bestsellers list for over six years and received positive reviews from some critics.


American talk show host and media mogul Oprah Winfrey endorsed the book on her show. Another celebrity supporter is actor Will Smith, who said he is teaching his son about financial responsibility by reading the book.


PBS Public Television station KOCE, aired a 55-minute presentation of Robert Kiyosaki titled “Guide to Wealth” in 2006 which essentially summarises his Rich Dad Poor Dad book now available on youtube.com. PBS also honoured Robert Kiyosaki with an excellence in education award in 2005.


President Donald Trump has read and praised the book and compared the book to his book Trump: The Art of the Deal, which served as an inspirational book to Kiyosaki.


Trump later did a literary collaboration with Kiyosaki in 2006 called Why We Want You To Be Rich, Two Men One Message and a second book called Midas Touch: Why Some Entrepreneurs Get Rich — And Why Most Don’t in 2011. American fashion entrepreneur and investor Daymond John has called the book one of his favorites. American rapper Big K.R.I.T. made a song called “Rich Dad Poor Dad” though it had no connection to the book.


Reviews of Rich Dad Poor Dad PDF Free

Review

The book is really easy to understand and to read, the message Robert gives is good and can help you change your mindset to be more financially independent but please beware of richdad education. After purchasing this book I immediately received ads all over social Media Facebook and instagram about Rich dad education seminars.Rich Dad Poor Dad free ebook

I sign up for and went to one of their “free” seminars just to find a random guy talking about how rich and and wealthy he become after rich dad education and how now he is giving back to the community teaching them how they can become wealthy by doing all the real estate strategies promising that they will teach all this great strategies if you purchase a 3 day seminar for $700.00 … and so I did purchase the 3 day seminar excited to find out what I was promised “real estate strategies” unfortunately after a few hours of being in the seminar I realized that all they were doing is talking about how you need and must invest on a 50k package plan.Rich Dad Poor Dad free ebook

So you can have access to a mentor. 3 whole days just listening to an old lady talking about her life and how rich and wealthy she is, brainwashing you to invest in their plans to the point of asking for extreme personal financial information. wasted 3 days of my life and $700.00 just to give them the opportunity to talk about how I need to purchase their $50,000 legacy plan. They never talk about what I was promised at first on any real estate strategy. Please beware of this scam. I posted the packages they almost force to purchase and the questionnaire are you need to submit so they know how much money you have and or how you can get a loan to purchase their package.

Review

This is an enhanced reprint of the original, with additional study questions/ discussion and review added at the end of every chapter. I bought the original about 18 years ago and it changed my families destiny for the better. I am glad the reprint came out as it prompted me to reread it and deepen my understanding. Rich Dad Poor Dad free ebook
Some people complain that this book does not give a step by step process for change. I would counter that one size shoe does not fit all feet. There are many individual paths to wealth, and Kiyosaki sets the guiding stars to navigate by, but you have to walk your own individual road.

Some key concepts of this book are: 1) Assets put money in your pocket even when you are on vacation. Liabilities take money out of your pocket, therefore your house is a liability [unless you rent out rooms and the garage as one person I know did while rebuilding his asset base].
2) Wealthy people buy assets first, and then let their assets buy their luxuries from the surplus cash flow.
3) Wealthy people continuously increase their assets by reinvesting their surplus cash flow in more assets. Rich Dad Poor Dad free ebook
4) There are 3 primary asset classes: Real Estate, Businesses, and Paper assets (stocks bonds notes, etc)
5) Cash Flow is more important than Net Worth. Net Worth is similar to potential energy, to use it you have to spend it, then it is gone. Cash Flow is like power from a hydroelectric dam, constantly replenished.
The rich don’t work for money, they work for assets.
The tax laws are fair from the standpoint that the laws that the rich spent billions of dollars to have modified and interpreted apply to everyone who learns how to use them.

A great foundation book for beginning to improve your financial intelligence so that you don’t work 4 or more month’s of every year for the Tax man, more months for the banks that hold your mortgage and credit cards, and whatever is left making the company you work for wealthy. Good luck on your journey to being Rich, poor, or middle class.

Originally published: 1 April 2000
Authors: Robert Kiyosaki, Sharon Lechter
Series: Rich Dad Series
LC Class: HG179.K565 2000
ISBN: 0-446-67745-0
Genres: Personal finance, Entrepreneurship, Business, Investment, Economics

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

 Why the Rich Are Getting Richer, released two decades after the international blockbuster bestseller Rich Dad Poor Dad, is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.

Books by Robert Kiyosaki

Some details about Rich Dad Poor Dad Robert T. Kiyosaki Pdf

  • Title –Rich Dad Poor Dad Robert T. Kiyosaki Pdf
  • Author – Robert T. Kiyosaki
  • Pages – 220
  • Available Formats – PDF.

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