{"id":79,"date":"2018-10-19T01:33:56","date_gmt":"2018-10-19T01:33:56","guid":{"rendered":"https:\/\/lifestyleincomexp.com\/blog\/?p=79"},"modified":"2018-10-21T15:30:51","modified_gmt":"2018-10-21T15:30:51","slug":"rich-dad-poor-dad-lessons","status":"publish","type":"post","link":"https:\/\/lifestyleincomexp.com\/blog\/rich-dad-poor-dad-lessons\/","title":{"rendered":"Lessons from Rich Dad Poor Dad"},"content":{"rendered":"<p>Robert Kiyosaki is the best known author of the #1 personal finance book of all time:<em> &#8220;Rich Dad Poor Dad.&#8221;<\/em>\u00a0And this book has challenged the way people think about money and he stresses out the importance of Financial Education. This is one of the first personal finance books that I have ever read.<\/p>\n<p>And I say it is a must read!<\/p>\n<p>Today, let&#8217;s look at the lessons in his famous book: <em>&#8220;Rich Dad Poor Dad.&#8221;<\/em><\/p>\n<p>Watch the summarized 10-minute video below and learn more about becoming rich than taking a 4-year finance degree. <em>(credits to OnePercentBetter)<\/em><\/p>\n<p><center><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/edbpSledS68?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/center><\/p>\n<h2>Summary: Lessons from Rich Dad Poor Dad<\/h2>\n<p><strong>Lesson 1:<\/strong> The rich don&#8217;t work for money, money works for them.<\/p>\n<p>The rich people look for ways on how to earn passive income. Their goal is freedom. While most poor and middle class people look for jobs because of security.<\/p>\n<p><strong>Lesson 2:<\/strong> The rich acquire assets<\/p>\n<p><span style=\"color: #339966;\"><a style=\"color: #339966;\" href=\"https:\/\/lifestyleincomexp.com\/blog\/types-of-assets-generate-passive-income\/\" target=\"_blank\" rel=\"noopener\">Assets put money into your pocket<\/a><\/span>. While Liabilities take away money from your pocket. The secret of the rich is to know the difference and but assets.<\/p>\n<p><strong>Lesson 3:<\/strong> Understand taxes and the power of corporations<\/p>\n<p>If you are an employee, before your income reaches your hands &#8211; the government has already taken the tax from you. While the rich create corporations so they can first declare their expenses before the government gets their taxes.<\/p>\n<p><strong>Lesson 4:<\/strong> Increase your financial intelligence &#8211; learning about accounting, investing, understanding markets and the law.<\/p>\n<p><strong>Lesson\u00a05:<\/strong> Don&#8217;t work for money, work to learn.<\/p>\n<p>The reason you must go to work (or have a job) is for you to learn. Once you are learned enough, you build your own and grow your own business.<\/p>\n<p><strong>Lesson\u00a06:<\/strong> Five Obstacles holding you back &#8211; fear, cynicism, laziness, bad habits and arrogance<\/p>\n<h3>And more tips for wealth:<\/h3>\n<ul>\n<li>The biggest asset you have is your mind. Invest in it.<\/li>\n<li>Failure inspires winners and defeats losers.<\/li>\n<li>Surround yourself with people who are smarter than you.<\/li>\n<li>Listening is more important than talking.<\/li>\n<li>Profits are made when you buy, not sell.<\/li>\n<li>It&#8217;s rare that the asking price is lower than something is worth.<\/li>\n<li>When aiming to become rich, find a higher reason.<\/li>\n<li>There is gold everywhere. Most people are not trained to see it.<\/li>\n<li>Saying &#8220;I can&#8217;t afford it,&#8221; shuts down your brain.<\/li>\n<\/ul>\n<p>How about you? What have you learned with Robert Kiyosaki&#8217;s Rich Dad Poor Dad book? Then, share your thoughts in the comment below.<\/p>\n<p>If you haven&#8217;t read it, I highly recommend it to you.<\/p>\n<h3>Are you looking for more of my highly recommended books?<\/h3>\n<p>Go check out my <span style=\"color: #339966;\"><a style=\"color: #339966;\" href=\"http:\/\/bit.ly\/TiyoPIB\" target=\"_blank\" rel=\"noopener\">Passive Income thru Books videos here<\/a><\/span>. This is where I share the books that I read <em>(and lessons inside)<\/em> related to personal finance, passive income, business and investments.<\/p>\n<p><strong>Other articles you might also like:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/lifestyleincomexp.com\/blog\/ten-secrets-new-rich\/\"><span style=\"color: #339966;\">Ten Secrets of the NEW Rich<\/span><\/a><\/li>\n<li><a href=\"https:\/\/lifestyleincomexp.com\/blog\/abcs-financial-independence\/\"><span style=\"color: #339966;\">ABC\u2019s to Financial Independence<\/span><\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Robert Kiyosaki is the best known author of the #1 personal finance book of all time: &#8220;Rich Dad Poor Dad.&#8221;\u00a0And this book has challenged the&#8230;<\/p>\n<div class=\"more-link-wrapper\"><a class=\"more-link\" href=\"https:\/\/lifestyleincomexp.com\/blog\/rich-dad-poor-dad-lessons\/\">Continue Reading<span class=\"screen-reader-text\">Lessons from Rich Dad Poor Dad<\/span><\/a><\/div>\n","protected":false},"author":1,"featured_media":80,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[6],"tags":[18,15,17],"class_list":["post-79","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-financial-education","tag-passive-income","tag-wealth","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/lifestyleincomexp.com\/blog\/wp-content\/uploads\/2018\/10\/Robert-Kiyosaki-Rich-Dad-Poor-Dad.jpg?fit=960%2C720&ssl=1","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.4 - 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