Rich Dad Poor Dad-W PDF
Rich Dad Poor Dad-W PDF
Rich Dad Poor Dad-W PDF
By Robert T. Kiyosaki
INTRODUCTION
Today, the most dangerous advice you can give a child is Go to school,
get good grades and look for a safe secure job. That is old advice, and
its bad advice because if you want your child to have a financially
secure future, they cant play by the old set of rules. Its just too risky.
o One dad thought the rich should pay more in taxes to take care of the
unfortunate the other said Taxes punish those who produce and
reward those who dont produce.
o One dad recommended, Study hard so you can find a good company to
work for. The other recommended, Study hard so you can find a good
company to buy.
o One said, When it comes to money, play it safe, dont take risks. The
other said, Learn to manage risk.
o One believed, Our home is our largest investment and our greatest
asset. The other believed, My house is a liability, and if your house is
your largest investment, youre in trouble.
o One dad believed in a company or a government taking care of you and
your needs. The other believed in total self-reliance.
o One dad struggled to save a few dollars. The other simply created
investments.
o The poor buy liabilities, which do not generate income and take money to
maintain. Liabilities are mortgages, consumer loans, credit card debt.
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People work all their lives paying for a home they never own
Property taxes
Houses do not always go up in value
The greatest losses of all are those from missed opportunities.
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o Financial struggle is often directly the result of people working all their life
for someone else.
o Many people will have nothing at the end of their working days.
o To become financially secure focus on your asset column instead of your
income column.
o Keep your daytime job, but start buying real assets, not liabilities or
personal assets that have no real value once you get them home.
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o Businesses that do not require my presence. I own them, but they are
managed or run by other people.
o Stocks
o Bonds
o Mutual funds
o Income generating real estate
o Notes (IOUs)
o Royalties from intellectual property such as patents, books, etc.
o And anything else that has value, produces income or appreciates and has
a ready market.
In summary
The Rich with Corporations
1. Earn
2. Spend
3. Pay Taxes
1. Earn
2. Pay Taxes
3. Spend
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1. The most common type are people who buy packaged investments. They
call a retail outlet such as a real estate company or a stockbroker and
they buy something.
2. The second type are investors who create investments. This investor
assembles the deal.
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OVERCOMING OBSTACLES
Reasons Why Financially Literate People May Not Succeed
Reason No. 1 Overcoming the fear of losing money
o The pain of losing money is far greater than the joy of being rich.
o For winners, losing inspires them. For losers, losing defeats them.
o If you want to be rich, you must focus. Put a lot of your eggs in a few
baskets. The middle class put their few eggs in many baskets.
Reason No. 2 Overcoming cynicism
o The world is full of Chicken Littles yelling the sky is falling.
o Cynics criticize, and winners analyze
o It takes courage to overcome your critics
Reason No. 3 Overcoming Laziness
o Busy people are often the most lazy. They stay busy to avoid something
they do not want to face
o Beat laziness by having a little greed. Ask yourself, What would life be
like if I never had to work again?
Reason No. 4 Overcoming Bad Habits
o Our lives are a reflection of our habits more than our education.
o The pressure of failure makes we work harder to succeed.
Reason No. 5 Overcoming Arrogance
o Arrogance is ego plus ignorance
o When you are ignorant in a subject, start educating yourself by finding an
expert in the field or a book on the subject.
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GETTING STARTED
The Ten Steps to Awaken you Financial Genius
The Power of
1. SPIRIT I NEED A REASON GREATER THAN REALITY
o Associate with people you can learn from, avoid the Chicken Littles
o You are what you study - master and apply something new every year
Information is priceless
A good broker provides you with information as well as educate you
A good broker also saves me time in making me money
Pay well the people who are smarter than you in some technical area
o With any investment you should ask How quickly do I get my money
back?
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o Find someone who has done what you want to do and take them to
lunch. Ask their advice on the little tricks of the trade
o Take classes and buy tapes
o Make lots of offers with escape clauses
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