Rich Dad and Poor Dad Book that help you to grow in rich.
Robert Kiyosaki in his Rich Dad and Poor Dad Book describes the basic difference between the thinking of two people.
One is Robert’s father who is called poor Dead.
And the other person is his friend’s father called Rich Dad.
Poor dad has passed Ph.D. degree. But the rich Dad didn’t pass event class 8. Especially poor dad is not poor because he is doing high Govt job in the country. He is a high official but he is often thinking with money he earns. on the other hand, rich dad is the rich man of that country.
Rich dad poor dad summary:
Poor dad dies in a condition where he left some unpaid bill for the family. but the rich died at the moment where he left million dollar and extraordinary assets for his family.
Maybe you are thinking now, both two-person or both two fathers earn but why one is poor and another one is rich. The main difference between two person’s thinking process.
poor dad says to his son that you have to read properly and you have to grow up to be a skilled person to get a better job.
Rich Dad says you have to learn and read so that you can open your own business as your own company. so that many people can do a job in your company and you can arrange the people to work for yourself. From where others can earn money.
poor dad says that money is the problem.
Rich dad says money can bring power and owner money is the source of all thinking.
Poor dad says not to buy costly things because it is out of our efforts.
Rich Dad says to create a new way so that you can earn more and you can afford to buy anything that you want.
The real fact is that we don’t have rich dad beside us. And we grow up without listening to the people who told that. The result, we do not earn more money. We do not get financial advice besides the people who are living with us.
Now the question is what the basic learning Robert learn from his rich dad? The main problem in our education system, what we learn from the books from our education system . we can use maximum 10% of learning in our real life. Left of the learning is not efficient at all it is not helpful at all in our real life. we get real learning from our parents or the people live beside us. And the real truth is that if your parents are not the person of the world 1% of rich person then they also teach you not to how you become the rich. rather they teach you how to become a poor man. The real fact is that it is not mean that they don’t love you actually they also learn this lesson from their parents.
If we learn the whole process clearly then we have to learn that two things clearly.
The two things is that
Robert in his Rich Dad and Poor Dad Book gives a clear definition of assets and the basic difference between Assets and liabilities. Forget now what you learn from the accounting. Assets are good things which bring money into your pocket. Liabilities is that things who spend money from your pocket. Everything can be assets or liabilities. Suppose you are an owner of a nice flat but to keep that flat fresh clean you have to spend 10000 $ per month then we called it is a liabilities. And if you are an owner of nice flat and from that flat, you earn $ 10000 from that flat then it is an asset for you.
Here is some example of assets that is business, real estate, bonds all of these are assets.
On the other hand TV, computer, mobile phone, bike these all are liabilities if it doesn’t bring any money to your pocket. And you have to spend some money to run this equipment.
In middle-class people buy the liabilities thing but they think that they have bought Assets for them. On the other hand, the rich people spend their money to purchase assets for them. If you do not think how to use your money then how much money you earn it will not increase your money. And you will spend all of your money to buy liabilities. It is unbelievable that when people ask if I buy bonds then there may be a risk of loss.
But they didn’t ask them self when they buy a mobile phone computer or TV this equipment also will be useless after 3 years or 4 years. Then the question is that we will not buy TV, mobile phone, computer. Not that actually, we will buy all of these things but we have to think how much money we spend on that equipment.
We have to spend much money to purchase Assets, not liabilities. We have to spend the most amount of earning to buy Assets, on the other hand, we have to spend the least amount of money to buy liabilities. That’s mean we have to aside some amount of money in every month to buy some assets.
And after meeting all the essential expenses we have to spend a few amount to purchase liabilities. And if you want more and more money and if you spend to purchase liabilities equipment then how much money you earn it will not bring any comfort in your life whether it will bring the liability for you. You have to like or you have to love to buy or to invest money rather purchase TV or mobile phone. If you get lost by investing you will learn the investment process whether you will not get anything watching on TV
There are two ways to earn money. That is active and passive. Active income is that type of income when you work income is active but if you do not work it will not generate any money. The example is that if you are an owner of the shop. If you open your shop customer we buy your product and you will get money but if you close your shop it will not generate any money.
On the other hand, passive earning means when you will not act any work that time also generate your earning for you. Like online website, YouTube video, CPA marketing something like that. If you try to perform for active income it is the nature that poor Dead do. But if you do try for the passive income then money will work for you and that is what is Rich Dad do. Just friends for your help I am suggesting you earn passive income from writing a book like Rich Dad and Poor Dad, online marketing, creating a website, website apps making, YouTube channel you can earn passive income. And obviously, you can rich.
These are all short brief about Rich Dad and Poor Dad if you want to learn more about the whole process you can go through this rich dad poor dad amazon from here. Rich dad poor dad audiobook also available on the website. You can get the rich dad poor dad pdf free from me also.