Article name: Rich dad poor dad
Author:Robert kiyoski
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About: financial statistics |
RICH DAD AND POOR DAD
-ROBERT KIYOSKI
SYNOPSIS:
*Introduction
*To listen to the words of the rich dad
*Financial literacy
*Mind your own business
*The rich invent money
*Work to learn and don’t work for money
*How to overcome obstacles
*Still what is more
INTRODUCTION:
The author had two dads, both where successful
in life but one was lacked financially. So he had a question that who should
have to listen. My poor father will always say that go study well and get good
marks and jump to safe side then you can earn more money. But my rich dad said
that go understand your subject and you may get good marks and then find a safe
job. When I ask anything to the poor dad he says in a single word no I cannot
do it but my rich dad makes me to think and so I taught to follow my rich dad’s
words.
I and mike where best friends and rest every one where invited to the party
except I and my friend and this is because we were poor . So we taught to
become rich and the next day the author and his friend mike went to his father
and asked how can I become rich, and his father said that I don’t like to
become rich and I also dint become rich and I don’t know how to become rich.
You go and ask mike’s father and he will say you the answer. So the next day he
and his friend went to mike’s father and asked can you teach us how to
become rich? and he laughed at us and said yes with one condition if you work
for me and I will pay you 10 cents an hour. They also agreed and then added to
become rich is not the lesson to study but it is a life goal process. From the
next day they went to work after three weeks this payment is not enough and he
went to mike’s father and asked for the raise of pries and he scolded how can
you give me very less and then mikes father replied that don’t work for money
improve your talents and then the money will come behind you and this is your
first lesson and if you want I can give you 5 euro an hour and the author
he was surprised of what he was saying and if you agree that then that is
the biggest trap. See the rich people don’t work for money and the money works
for them. I understand it and worked again in the yard.
LISTENING TO THE WORDS
OF RICH DAD:
“ THE POOR AND THE MIDDLE CLASS FAMILY WORK FOR
MONEY AND FOR THE RICH THE MONEY WORKS FOR THEM”, the words that he always used
to say and he doesn’t make us to learn but he makes us to experience
everything.
These lessons that I would learn is with his guidance and not because of
classroom. I have seen many people who run for money and also many people to
whom money runs for them and they are called the rich peoples. And he also
added that the schools focus only on teaching the people to work for money but
not to protect it and we really understand what he was saying that day and it
made more sense. and you have to think differently if you start to do
that. I will teach you the other lesson when you work on it he said with
a smile. The author and his friend were thinking for several hours and then
they saw that mike’s sister was cutting the front page of the comic book and
giving the book to the distributer with this he will give me new comic book to
study and the author got an idea and mike’s mom had a spare room and they
cleaned and began filling hundreds of comic books. When school ends from 2:30
to 4:30 pm we made them to read the books and then we got 9.50 euro an week and
that was enough for us the rich started smiling.
FINANCIAL LITERACY:
Years passed away author and his friend were
grown up and mike and his wife is wealthier then I imagine and we will meet
once or twice an year at the age of 47 I retired. And mike chooses to run the
company, after retirement I started teaching and they will ask the author that
what the way to improve financial literacy is.
In 1923 the richest businessmen were arrived in an party with an conference and
10 years most of them died. This is because of every one was focusing only
about the wealth not focusing on their health, most people fail to realize that
in life. There is an example who is a professional athlete who is modern at the
age of 24 and sleeping under the bridge at the age of 34. It is not how much we
make and it is how much we keep. When the author was small he was taught strong
about the financial foundation.
They also speak about the fear and if we were rich we would have sleepless
nights and we always think of making money.
They also speak about
the asset and liability. “THE RICH PEOPLE ACQIRES ASSET AND THEN MIDDLE CLASS
FAMILY THINKS IT IS AN ASSET AND BIES AN LIABILITY”.
The rich people byes an asset first and then takes it to the liability but the
middle class family byes an liability thinking that it is an asset.
Rich dad always believes in the KISS Principle-KEEP IT SIMPLE STUPID with that
he made his financial foundation strong.
Why the middle class and the poor class family thinks it is an asset and byes
an liability?
The cash flow of an rich people is first get an asset and then income and then
there expenses.
The middle class family gets liability and then gives it to the expenses. So if
you want to be rich maintain your wealth and to be a financial literate.
These people often work harder then they need to because they only learn how to
work hard but not to money work for them.
When we want an liability we should first buy an asset and then buy an
liability this will make us rich.
Why rich people gets richer because the asset column generates more then enough
income to cover the expenses and the balance is reinvested into the asset
column. So they become richer.
To become rich
*buy asset first
*then put to the expenses.
MIND OUR OWN BUSINESS:
In 1974 ray Kroc the founder of mc Donald’s was
asked to speak in the University of Taxes. He went to the stage and asked what
business am I in? so everyone laughed and one said that in hamburger business
and then he said I thought you will say this answer but I am not doing that
business and am doing the real estate business everyone was shocked at the
answer and he added that that I know that most of them can do hamburger better
then me but am standing in the top because I own this company and am not
working in this company. And if you want to be rich you should own this company
and not to work in this company.
An important thing is that the rich people byes the luxuries at last, while the
poor and the middle class family byes luxuries first.
The rich people work with the corporation and they 1)earn 2)spend 3)and pay
taxes.
The middle class family will work for the corporation first they 1)earn money
2)they pay taxes 3)spend.
THE RICH INVENT MONEY:
When I was watching T.V I saw Alexander Graham bell created new invention and
that was also very strong so Alexander does not work for money and the money
work for him. But we will always go in a rat race only. That we will work from
morning till evening but gain nothing and the same thing happens the next day.
They will keep on working but the rich people will not work for the whole day
they will order them.
WORK TO LEARN AND DON’T
WORK FOR MONEY:
In 1995 the author met a young female reporter. She wrote many articles and
become little famous. I called her and said that you have to learn lot of
things and added that my friend of mine runs a school that trains the people to
sell. She did not understand that why he did he say this to her and then he
took an book that was written by him and showed that ROBERT KIYOSKI- THE BEST
SELLING AUTHOR. And she blinked for while and then the author said that I am
the best selling author and not the best writing author. And from that she was
shocked
I also wrote the best book which was IF YOU WANT TO BE RICH DON’T GO TO SCHOOL
every one liked the title and bide my book and that was why I become famous and
it also include the financial intelligence .When it becomes to money, the only
skill most people know it to work hard. But we have to work talentedly.
The hardest thing of running the company is managing people. And the logic is
WORKERS WORK HARD ENOUGH TO NOT TO BE FIRED,AND OWNERS PAY JUST ENOUGH SO THAT
WORKERS WONT QUIT.
OVERCOMING OBSTACLES:
Many of them has obstacles on these points
*fear
*cynicism
*laziness
*habits
*arrogance
1) Fear-
You can be fear full or a coward but you should not be in money matters. This
is because everyone dreams to be rich but fears to take risk. They want to go
to heaven but no one wants to die.
The rich people also faces failure but they won’t burry there failure. They get
inspired of them FOR RICH PEOPLE IT IS NOT THE DISASTER IT IS AN OPPORTUNITY.
2) CYNICISM-
You should plan before go into the job. The author is not smart but he is good
enough, cynics never win. Cynicism criticizes but the winners only analyze.
3) LAZINESS-
It is also the main reason the main reason to not making us grow. Most people
work hard and get less but it is not like this we should work talentedly. And
this will help us to grow.
4) HABITS-
Some habits which we keep are injuries to health and because of that we cannot
concentrate on our work and we should keep our health in level so this can help
us grow.
5) ARROGANCE-
Arrogance is the ego plus ignorance. Every time the author been arrogant and he
have lost his money so we should not be arrogant.
STILL WHAT
TO DO NEXT:
*Look for new ideas new investing ideas and the
author call that us formula
*Take action immediately and work on that idea
*Learn that idea more from history
*Action always beet inaction
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