OVERVIEW OF Rich Dad Poor Dad PDF

HELLO, READERS !,
Here is a PDF of a great book from Robert Kiyosaki.

It's been nearly 25 years since Robert Kiyosaki’s Rich Dad Poor Dad PDF first made waves in the Personal Finance arena. It has since become the #1 Personal Finance book of all time... translated into dozens of languages and sold around the world.

Rich Dad Poor Dad PDF is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.

20 Years... 20/20 Hindsight
In the 20th Anniversary Edition of this classic, Robert offers an update on what we’ve seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers “fast forward” — from 1997 to today — as Robert assesses how the principles taught by his rich dad have stood the test of time.

In many ways, the messages of Rich Dad Poor Dad PDF, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago.

As always, readers can expect that Robert will be candid, insightful... and continue to rock more than a few boats in his retrospective.
Will there be a few surprises? Count on it.

Rich Dad Poor Dad PDF...

• Explodes the myth that you need to earn a high income to become rich
• Challenges the belief that your house is an asset
• Shows parents why they can't rely on the school system to teach their kids about money
• Defines once and for all an asset and a liability
• Teaches you what to teach your kids about money for their future financial success

Details Of Rich Dad Poor Dad PDF

Rich Dad Poor Dad PDF Summary

Rich Dad Poor Dad PDF was first published in 1997, and has racked up sales of 32 million copies in more than 51 languages. Endorsed by many celebrities including Oprah Winfrey, this book stayed on the New York Times best-sellers list for six years. This handcrafted summary of Rich Dad Poor Dad PDF summarises the six rules that the authors believe will help your money work for you, rather than the other way around. The summary captures a few of the fables that the authors recount as part of explaining the six rules.

Rule 1: The rich do not work for money

At Mike's dad's suggestion, we helped him around his office and started doing some errands. The salary was not very high and was enough to help a 9 year old kid buy comics. Immediately disillusioned, I stood up and declared that I had quit my job.

When Mike's dad met me, I told him how he was exploiting 9-year-olds. This is where Mike's dad, my Rich Dad, offered me his first lesson:

The poor work for money. The rich have money work for them

Most of us work on a monthly salary. We work hard and thank you for your salary increase. We pay the invoice and is yelling at how everyone around us, including our boss, needs to change. We don't have "sufficient" money and we believe our problems are caused by others around us. But the reality of could be that the problem is with ourselves, and the first thing we need to change is us, not the people around us.

Salaries will be the focus of our lives and we will start working for money rather than making money. Understand that we can all choose to work for money or for money. people working for money fall into traps they don't know. This trap is a cycle in which the works very hard, earns salaries, enjoys vacations, pays invoices, sticks to the illusion of 's employment security, and finally looks forward to retirement.

Fear and greed lead us to the trap

We fall into this trap out of fear and greed. The fear of losing our job puts us in the wheel, and the desire to buy more and more keeps us in the wheel. Traps are now an endless reality of . The fear of losing our job, and therefore our source of money, makes us uneasy.

The important thing is to look hard and assess whether work is the best way to make money in the long run. In most cases, 's answer is that every job is just a short-term solution to a long-term problem.

The only way out of this horror trap is to choose our thoughts. When we choose our thoughts, we think, not just react to our emotions. Choosing our idea is not the question "I deserve this salary increase", but the question "Is there anything missing here?" I kept that lesson in mind, and Mike and I started a library of comic books. It lasted only three months, but we were in charge of our finances, not our employees. More importantly, the comic book lending library made money for Mike and me, even if we weren't physically present at the library. Our money was working for us.- Rich Dad Poor Dad PDF

Rule 2: Financial literacy is necessary

In 1994, I retired at the age of 47. My money was working for me. By this time, Mike had taken over his dad's business and grown it exponentially. Both of us were able to reach where we were, thanks to Mike's dad (my Rich Dad) lessons in financial literacy.

The fundamentals of financial literacy, as Mike's dad taught us, is captured in just one rule: Understand the difference between an asset and a liability.

You may want to believe that you know the difference between assets and liabilities. However, the truth is that a lot of us assume liabilities to be assets. Buying assets are about buying stuff that puts money in our pockets. Liabilities, on the other hand, take away money from our pockets.
A lot of us might be hugely successful in our professional domains, but we may still be financially illiterate.

Is your house an asset or a liability?

Being financially literate is not just about making money, but more importantly, about how to spend money. A lot of us see our homes as 'assets'. However, if we dig a little deeper, we will realise that a house is a liability. Buying a house offers tax breaks, but it also entails additional cash expenses. Most of us buy our homes on 20- 30 years mortgage. In a true accounting sense, the house, then, is a liability and not an asset, until you repay the entire mortgage.

Buying a house and believing it to be an asset is delaying your financial education. There is no denying the emotional benefit of having your own house, but it is essential to building assets that generate the money with which you buy a house. Any hike in salary needs to be invested in assets that generate income, rather than in expenditure such as a bigger house.

According to Rich Dad Poor Dad PDF ,the mantra to remember is that the rich buy assets, the poor have expenses, and the middle class buys liabilities, thinking they are assets.

Rule 3: Mind your own business

If you are asked what the business of McDonald's is, your answer, instinctively, would be 'fast food' or 'burger'. However, the founder of McDonald's, Ray Kroc, believed that McDonald's is in the business of real estate. The primary success factor for a McDonald's restaurant is its location, the land it is built on. This Ray Kroc story, recounted by Mike's dad, became our third lesson:Mind your own business

It is important here to understand the difference between profession and business. A lot of us use these words interchangeably. For Ray Kroc, his profession was to sell franchises for making burgers; but his business was to build assets regarding the income-generating real estate.

As a professional, we are 'minding' someone else's business. Instead, we should be 'minding' our own business. As a professional, you are working for a salary that becomes your 'income'. As a business person, you are looking at spending your income to buy revenue-generating assets.

The 'usual assets' like a mortgage-bought home or a loan-bought car, become liabilities when we lose our jobs due to downsizing or restructuring.

Minding your business is about buying revenue generating assets instead of liabilities or vanity goods. Revenue generating assets include stocks, bonds, mutual funds, real estate that generates net positive income after factoring mortgage and anything that produces income.

Rule 4: Use the cover of a corporation

The genesis of levying taxes emerged from Britain, and the US, unlike most things British, adopted permanent taxation with the 16th Amendment.

Taxes today have split us into two camps - the haves and the have-nots. The have-nots believe in the Robinhood philosophy of 'take from the rich'. Ironically, it is the have-nots who lose the battle on taxation. Being in a job and working hard only enables the government to tax you more.

The haves, on the other hand, plays the tax game very differently. The haves mind their own business, which generates tax benefits for them, unlike the have-nots who have a job and therefore get taxed even before their salary reaches their banks.

What is financial IQ?

In order to manage taxes, it is important to build financial IQ. Financial IQ consists of the following four actions:

1. Understand what accounting all is about: If you are minding your own business or intend to do so, it is essential to understand the basics of accounting so that you can read and understand financial statements.
2. Understand the science of making money or investing.
3. Understand the demand and supply aspects of the financial markets.
4. Understand the law, especially regarding how the law interprets the income of an individual versus the income of a corporation.

Rule 5: The rich invent money

When Alexander Graham Bell had just patented his invention, the telephone, he went to the biggest corporation of that time. Bell offered Western Union his patent and his company for $100,000. Western Union refused and Bell went on to create a billion dollars communication industry, with AT&T at the helm.

Just like Alexander Graham Bell, we too have our 'inner critic' which makes us doubt ourselves and possibly beg with others like Bell did with Western Union. It is equally true that there is a 'brave hero' inside us who dares to build something.

It was possibly the 'brave hero' inside Bell that helped him overcome the rejection from Western Union and set him on the path of creating massive wealth using his invention of the telephone.

Information is wealth

We are living in extraordinary times today. While land was the currency of wealth a few centuries ago, today it is information. Wealth today is not shackled by the geographical constraints.

Opportunities abound around us and this is the right time to ensure that our financial intelligence is at its best. How do we then increase our financial intelligence?

The first concept of financial intelligence is that money is not real. The real money is our mind. Great opportunities to make money emerge from a well-trained mind. The mind, when trained well, identifies opportunities that later turn into money.

Once we realise that the real money is in training our mind to be financially intelligent, we will be willing to take risks and invest in opportunities that others do not see.

Rule 6: Work to learn

A business consultant once told me '(They) are one skill away from great wealth'. This phrase means that our income can jump exponentially if we master one more additional skill.

Earlier in this summary, we got to know that financial IQ is a combination of accounting, investing, understanding markets and understanding the law. However, what most people understand about making money is 'work hard'.

For most of us, our income would go up exponentially if we combine 'working hard' with the additional skill of financial IQ.

While my Poor Dad encouraged to study more and become a specialist in one domain, my Rich Dad encouraged me to 'know a little about a lot.' It is important to understand at this stage, that learning does not get along well with job security.

Education is the best investment

You can learn only that much if you are in the same job for years. Falling in love with job security is a wrong long-term strategy. It may work in the short term, but in the long run, it is recommended that we work to learn more, rather than earn more.

Education is more valuable than money in the long run

Management of cash flow, management of your time and management of people, are the key management skills needed for success. Communication skills and the ability to sell are the other core skills required to succeed in life.

Why do the financially literate struggle?

Being financially literate does not solve everything though. Financially literate people may still struggle to build revenue generating assets due to the following reasons:

1. Fear of losing money:

There is nothing wrong in having a fear of losing money. This fear exists in all of us. What makes the difference is how you handle that fear. If the response to this fear is about playing it 'safe', then you start fearing failure, which becomes a much bigger problem than fearing losing money. The inability to take a risk makes the financially literate person ignore opportunities to build his assets column. Failure should inspire winning, not take you to the safe shores.

2. Deep-rooted cynicism:

That inner critic inside us can help us or it can destroy us. When our doubts take over our lives, then for every action that you plan, there will be a doomsday scenario.

The more you listen to the doomsday scenario, the more such thoughts will strangle you, forcing you to let go of every opportunity to buy a good quality asset.

3. Laziness:

Are you too busy to take care of your wealth? Does the same hold for your health also? The reality is that this is not about you being busy, this is about you avoiding something that you would rather not face.

In order to beat laziness, you need to be a little greedy. Being greedy helps you move ahead, ask for more. Of course, too much greed will take you on the wrong track altogether.

4. Bad habits:

Good habits are difficult to build, while bad habits face no resistance at all. Prioritise yourself when it comes to financial literacy. Do not be the first to pay the bills. That's a bad habit because it prioritises others over you. Do not get pushed around by landlords, bill collectors and so on.

5. Arrogance:

: When your ego combines with ignorance, it is a lethal combination. This lethal combination is called arrogance. Do not try the snake oil sales pitch to cover for your ignorance. Instead, educate yourself.

Go ahead, take action
In order to make your money work for you, take action! Look for new ideas and look for teachers who can help you learn something new. Pick up Peter Lynch's book Beating the Street to understand how to pick stocks. When the stock market crashes, do not run for cover. Dive deep end and start buying.

Money is not real, it is an illusion, an idea. The science of making money is about thinking differently, identifying opportunities that help build revenue generating assets.

Think and Grow Rich is a popular book that you may be aware of. There's a reason why the book is not titled Work Hard and Grow Rich. Building a strong financial IQ will help you move away from general speak like 'Work hard' and move you towards leveraging insights to improve your financial IQ and build your wealth.

SHORT REVIEW OF BOOK PDF

An easy-to-read book written in a light and conversational style. Rich Dad Poor Dad PDF is one of the most popular self-help books ever written. It was written by Robert Kiyosaki a well-renowned investor, to let the world know how they can gain finical knowledge and live a life without worrying about money. This book is best for beginners who want to attain finical freedom.

CHAPTERS IN Rich Dad Poor Dad PDF

Here is a list of the chapters found in the Rich Dad Poor Dad PDF:

Rich Dad Poor Dad  PDF contains a total of ten chapters plus the introduction, but much of the book is focused on the first six parts or lessons.

1. Introduction: Rich Dad Poor Dad
2. Chapter 1: The Rich Don’t Work for Money
3. Chapter 2: Why Teach Financial Literacy?
4. Chapter 3: Mind Your Own Business
5. Chapter 4: The History of Taxes and the Power of Corporations
6. Chapter 5: The Rich Invent Money
7. Chapter 6: Work to Learn – Don’t Work for Money

ABOUT AUTHOR- Robert Kiyosaki

Robert Kiyosaki, author of Rich Dad Poor Dad PDF - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom.

He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.In communicating his point of view on why 'old' advice - get a good job, save money, get out of debt, invest for the long term, and diversify - is 'bad' (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage.

Rich Dad Poor Dad PDF ranks as the longest-running bestseller on all four of the lists that report to Publisher's Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today's #1 Money Book" two years in a row.

It is the third longest-running 'how-to' best seller of all time.Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe. In 2005, Robert was inducted into Amazon.com Hall of Fame as one of that bookseller's Top 25 Authors.

There are currently 26 books in the Rich Dad series.In 2006 Robert teamed up with Donald Trump to co-author Why We Want You To Be Rich - Two Men - One Message. It debuted at #1 on The New York Times bestsellers list.Robert writes a bi-weekly column - 'Why the Rich Are Getting Richer' - for Yahoo!

Finance and a monthly column titled 'Rich Returns' for Entrepreneur magazine.Prior to writing Rich Dad Poor Dad PDF, Robert created the educational board game CASHFLOW 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. It was those same strategies that allowed Robert to retire at age 47.

Today there are more that 2,100 CASHFLOW Clubs - game groups independent of the Rich Dad Company - in cities throughout the world.Born and raised in Hawaii, Robert Kiyosaki is a fourth-generation Japanese-American. After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot. Following the war, Robert went to work in sales for Xerox Corporation and, in 1977, started a company that brought the first nylon and Velcro 'surfer wallets' to market.

He founded an international education company in 1985 that taught business and investing to tens of thousands of students throughout the world. In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad PDF.

Rich Dad Poor Dad AMAZON BUY

Best known as the author of Rich Dad Poor Dad PDF―the #1 personal finance book of all time―Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money.

A life changing book by Robert Kiyosaki.If you want to support the author, or if you find this book useful to you, you can buy this book in paperback, audio, or cassette from AMAZON. For reference, we have provided a purchase link for this book from AMAZON.

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