Poor Dad and Rich DadAnyone who wants to make wealth, not only for them but also for their loved ones, should read this book. The book contains many points that can help you achieve financial freedom in your lifetime. These are the four main points that we believe everyone should learn from the book.
1. Learning Money is Kid’s Stuff
The key is to start young. A lot of parents let their kids learn about life the hard way and aren’t actively teaching them the skills needed to excel in society. It’s easy to be like the typical person. That’s why they’re called typical! However, to excel and achieve not only financial freedom, but freedom in all aspects of life, it takes what I call “conscious parenting”. That’s something that the “rich dad” in the book did. In almost every activity he had with his son, he made sure to teach valuable lessons. He never let a situation go by where he didn’t teach his son how to think for himself and uncover solutions.
This is an important step that many parents overlook. Understanding the ways the world works, its rewards and the workings of the financial system will be a great asset for your family’s future. This knowledge should be integrated into their lives from an early age.
2. Real Estate
This is one the best investment vehicles available. Rich dad, poor dadTalks a lot about his path to financial freedom and how it has shaped his life. His main instrument was real estate. He could flip houses, be the middleman or hold rental properties. He dives into the strategies that he uses towards the end.
My cash flow increased immediately after I bought my first property. I also started to build my net worth.
I’m not saying you have to make a career out of it, but it’s one the most common ways that generational wealth is created. An astounding 90% of millionaires have some type of property. Everyone should consider investing in real estate if they are looking to increase their net worth and income.
“If you want to be rich, you need to develop your vision. You must be standing on the edge of time gazing into the future.” – Robert Kiyosaki
3. Ask Ask Ask
Many people don’t make the most of their opportunities to rise in life. Ask.
In the book, the author recalled a story that his “Rich Dad” told him about people not being interested in learning how to create wealth for themselves. The rich dad of his would say to him that his employees wouldn’t mind asking for a raise. They never asked him about his success and how he made it all possible. Their lives were average and they had to struggle.
At the time I started my business, I struggled to find new clients. My only client was a business that I had been referred by past and present happy customers. I eventually thought to myself, there’s no reason I shouldn’t have a bigger clientele since I know so many extremely successful business owners. The next day, I just asked all my clients if anyone knew of someone who could use my services. The next day I had multiple leads, and some of these clients have become monthly customers.
This same principle applies when you seek advice. Never assume people will automatically “hand” you something. Don’t be that person who doesn’t ask!
4. Poor Perspectives Are Harmful
This is the premise Rich Dad and Poor DadThese are the lessons that he has learned from his parents. He received the best advice from his wealthy father regarding advancement. But he took the advice of his dad regardless of how it was applied. Perspectives matter, I always tell people. You can learn two things from hearing the perspectives of people with different views on life.
This can make you a better person and help you to understand others, even those that don’t share your values. You also learn what you don’t want to do, which is just as important as learning what you should do in life to progress. Hearing a perspective you don’t agree with can’t hurt you if you’re aware it’s not the advice you seek. It’ll only help you learn and grow as a person.Perspectives matter.
It’s no secret Rich Dad, Poor Dad is a book that stood the test of time and will continue to educate and motivate generations to come. These are the key points to change your life. Make the most of them and I’m positive you’ll see drastic changes in your life for the better!
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