Robert Kiyosaki is the 21st Century financial guru and founder of Rich Dad Education. Rich Dad Poor Dad for Teens and Rich Dad Poor Dad became New York Times Bestsellers and are known as one of the best finance books.
Mr. Kiyosaki describes in his books the concept of Rich Dad Poor Dad; Rich Dad was his friends dad and Poor Dad was his father.
The difference between the two was Rich Dad made less money but was worth more and Poor Dad lived paycheck-to-paycheck with all the flashy toys.
Personally, my favorite tip in these books is to create separate cashflow to pay for what you want.
In doing so, once that new toy is paid off, you’ll still have an income coming in to keep building your wealth.
Kiyosaki’s books and board game will build your financial literacy to Escape the Rat Race. The “rat race” is an endless cycle of tying to make ends meet by overspending while working for someone else.
Rich Dad Poor Dad by Robert Kiyosaki
Every trainer that talks about generating wealth says the same things.
If you want true job security, unlimited pay, and complete freedom, being a business owner over and employee is highly advised!
Employees are Told…
- When to start work
- When to leave work
- What they’re paid
- When they can go on vacation
- How long their vacations are
- When they get a raise and how much
- If they want a raise, they work harder
- If they want time off, they schedule it
- Don’t forget the tax benefits
- If they want to do something, they do it
Being a business owner isn’t easy. We work harder, longer work days, and take greater risks than employees.
Most successful entrepreneurs work 60-100/hours every week with no overtime pay, sick leave, or vacations.
Business owners work off of delayed income.
Unlike their employee counterparts, it may take years, not 2 weeks, before one penny makes its way into their pocket.
Practicing Patience and Delayed Gratification
- Withhold from something pleasurable like spending money rather than investing
- Do something you really dislike so that in time you only do what you absolutely love doing
- Set a goal for you to achieve in the activity you dislike so you can focus on that while you “weather the storm” to financial security
The rich teach their kids this information, not the poor and middle class.
The key to wealth is delayed gratification, patience, and doing what the average person refuses to do – invest wisely.
Investing may lead you to appear “broke” for a long time because your money is tied up in WORKING FOR YOU!
However, in time you’ll have 100x more money than if you bought material items.
This quiz below comes from the beginning of the book to get you started on financial freedom.
Challenge–Take This Quiz
- Do you feel that school has nothing to do with the real world?
- Do you feel that school didn’t prepare you for the real world?
- When you want to buy something do you usually say you can’t afford it?
- Do you worry you can’t live the way you want because of finances?
- Do you truly want to learn about money?
REMEMBER: This is an investment of your time and money. You can write it off on your taxes, save the receipts.