Rich Dad Poor Dad [Short Review & Key Takeways]
Rich Dad Poor Dad has been praised as a book for instilling good money management concept. So here is my brief review and key takeaways I resonate from the book: Indeed, it is a good introduction of money management.
Not only for parents who want to teach kid, but also for individual.
Easy to read with plain diagram.
🎯 Robert Kiyosaki mostly discussed on property business in the book as it was his main money making strategy, but he also reiterated that each person have different strategy based on what they see fit, hence if you want to read about stock investing, you do not get from this book. This book is more about to change your aspect of money mindset.
Rich Dad Poor Dad Key Takeaways
🎯 The Core idea is active income; continuously working to earn an income does not make you rich. You have to let money do its job. We are not employee for money. It is the other way around. That is passive income.
🎯 Mindset also plays crucial part for being rich. If you say “I cannot afford this,” your head will stop finding a way to buy it, and that is the end. You should ask “if I cannot afford right now, then what I have to do to be able to afford it?” instead.
🎯 Befriend those who have good mindset and know how to make money influence you to have the same mindset as well. Sometimes, these friends suggest you shortcuts and nice tips, in which, save you a lot of time than to figure out by yourself.
🎯To be competent in career is not only to have knowledge in vertical direction (specialized field), but also in horizontal direction (having knowledge in many fields such that you can connect the dots and maximize all fields in your own fit.)
🎯 Selling is boring skill, but it is a must have skill which makes you VALUABLE!
🎯 Lastly, be the early investor before someone else taking an action into that subject is the key to make you rich. If you invest in what others have invested, it is not a new thing. The early investors got the profit already.
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