RICH DAD POOR DAD (Book Summary)

Today I'm going to talk about RICH DAD POOR DAD Book which is written by Robert T. Kiyosaki

He is an Entrepreneur, Educator and Investor who believes the world needs more entrepreneurs who will create jobs.

He has two dads one his own dad and other is his friend's dad his real dad had a PhD and the other had didn't finished even high School his real dad says things like that I can't afford it and other one said hoe can I afford it? They both support education but one focus on studying career and the other focus on studying money one of them died struggling financially and other died as one of the richest man in Huwaii.

Kiyosaki decided to learn from his friend's Dad instead of his own Dad this is important to know because we can do what Kiyosaki did and learn from other people's like.

1. Kiyosaki,

2. Napoleon Hill, etc.

Have you ever hard people say Oh! I

Wish would have more money

I'm quieting this job pressure sucks

I needs to get a second job because I need more money and I'm sure all of us can relate it but the problem here is that it really doesn't matter how much money we are making we don't even understand.

Let me ask you some thing

Question - What is the first thing you would do if you got a pay-race upto INR 10,000 per month starting today?

Answer -

• Would you buy a new car

• The new House

• Take a trip to Las Vegas or Dubai etc to celebrate.

This is actually here be action most people have

They make more money so they spend more

Now I'm sure you are starting to understand that the money alone doesn't make you rich

The biggest thing to learn is the difference between Asset and Liabilities

We are gonna define them in a very simple term

• An Asset is something going to bring money in your wallet

• A Liabilities us something that takes money away from your wallet

Just about anything can be an asset or a Liabilities

• If you own a house and it takes money out of your wallet its a liabilities

• But if you rent out that house and that makes you money then it's as asset

The different between the

POOR

is that the poor have expenses and I don't mean living expenses I mean just spending money on staff

MIDDLE CLASS

By liabilities that they thinks are assets like House, Car and many others

I am sure that you hard people says that there home is there biggest investment so they think it's and asset but yet it's so called asset cost it's owner at-least a couple of thousand's a month

RICH

The rich spend there time in money getting asset which brings more money they used money to buy more asset which brings more money and buy more asset that's why rich gets richer and the poor middle class stay the same and evenly don't matter how much money you are making.

If you have a job and make INR 1,00,000 per month and you buy car and expensive wine bottle and time spend in Las Vegas and spend all of your money at the end of the month you have a poor person mentality.

The same goes if you have a INR 20,000 per month income you spend only INR 15,000 and the rest you use to buy an asset eventually those asset will bring you more money to buy more assets and yes we keep doing this you won't needing your job any more.

A lots of people going to say what if I lose my money building a product or a business and it's valid point there is a risk to be taken but they don't say the same thing when they go and buy there big LED screen TV pr new car or even all the money they spend on buying jung food

The 3 Big IDEAS

Learn from people who know this subject well

Work to acquire asset and limited liabilities

Learn to keep most of your hard earned money.