Rich Dad Poor Dad
- Original publication
- 2017
- Publication year
- 2017
Impressions
- Masha Samartsavashared an impression5 years ago
Interesting insights which are generally know. Big focus on increasing your own financial intelligence which, I agree, is not taught in schools. Important focus on the weak areas that might be stopping each individual from reaching their top level of intelligence (which applies for every aspect of our lives).
Financial intelligence according to this book is gained through learning about finances, financial risk, investment, taxes and business law as early as possible, investing and taking risks, learning from top expert in each field (to save yourself time) and honing the skill to a higher level with each year of active experience.
Some points stood out now that I am reading from a more European socialist environment and some ideas are definitely not as applicable but a great book to get you thinking about your own management of money and depending less on your job, state and pension for the financial freedom you want.
Personally I took away two mains ideas:
1) It is ok to fail and the wisest investors are those who have learned through their failures.
2) Every month you must pay yourself first before you pay other (rent, food, taxes, etc) - was rather counterintuitive at first, but I understand it and agree with it after reading the book.
"Invest first in education. In reality, the only real asset you have is your mind, the most powerful tool we have dominion over. "
"Simply put, people who have low self-esteem and low tolerance for financial pressure can never be rich. As I have said, a lesson learned from my rich dad was that the world will push you around. The world pushes people around, not because other people are bullies, but because the individual lacks internal control and discipline. People who lack internal fortitude often become victims of those who have self-discipline." - Harris Guardiansshared an impression5 years ago
💡Learnt A LotIts really amazing story teach this to young students who want to be rich who wants to enter the higher air, you are not born to be poor if you are born poor, its you what you chose!
- Ana Vranjesshared an impression5 years ago
👍Worth reading💡Learnt A Lot🎯WorthwhileReally pushes you to take control and learn about money in a whole different way! Challenging and inspiring
Quotes
- gilang ridwanhas quoted4 years ago
“Most people have a price. And they have a price because of human emotions named fear and greed. First, the fear of being without money motivates us to work hard, and then once we get that paycheck, greed or desire starts us thinking about all the wonderful things money can buy. The pattern is then set.”
“What pattern?” I asked.
“The pattern of get up, go to work, pay bills; get up, go to work, pay bills. People’s lives are forever controlled by two emotions: fear and greed. Offer them more money and they continue the cycle by increasing their spending. This is what I call the Rat Race.” - Anis Yusliyanahas quoted2 years ago
When emotion goes up, intelligence goes down. - Hristina Jivkovahas quoted3 years ago
• Look for new ideas. Go to bookstores and search for books on different and unique subjects. The book The 16 Percent Solution by Joel Moskowitz taught Robert something new and spurred him to action.
• Find someone who has done what you want to do. Take them to lunch and ask them for tips and tricks of the trade.
• Take classes, read, and attend seminars. Robert searches newspapers and the Internet for new and interesting classes.
• Make lots of offers. You don’t know what the right price is until you have a second party who wants to deal. Most sellers ask too much. It is rare that a seller asks a price that is less than something is worth. It’s fun and only a game. Make offers. Someone might say yes. (And make offers with escape clauses.)
