RICHDAD

POOR DAD PRESENTED BY-

T.KRUSHI KUMARROLL NO-109SECTION-C

WHAT THE RICH TEACH KIDS ABOUT MONEY-

THAT THE POOR AND MIDDLE CLASS DO NOT!

DetailsRICH DAD , POOR DADAuthor : Robert T. Kiyosaki Publisher : Plata Publishing , LLCPrinted in USAFirst Edition : 1997Category : Economics

Author : Robert T. Kiyosaki

Robert Toru Kiyosaki (born April 8, 1947) is an Japanese American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator

“Having two dads offered me the choice of contrasting points of view :

one of a rich man and one of a poor man” by- Robert Kiyosaki

Salient Features Financial Literacy Concepts are explained using the

numbers , pictures and metaphors Mantra to become rich Informative + Inspiring Down-to-earth

CONTRAST POOR DAD

Get job in good company “ The love of money is

the root of all evil.” I can’t afford it Play safe Works for money

RICH DAD

Create or buy a company

“ The lack of money is the root of all evil.”

How can I afford it ? Learn to manage risks Money works for him

“There is difference between being poor and being broke . Broke is temporary , poor is eternal. “

Why Teach Financial Literacy?It is not important how much money you make , it is how much money you keep.

Understand the difference between assets and liability.

Financial Statement

MIND YOUR OWN BUSINESS

Financial struggle is often the result of people working all their life for someone else.

Owner or shareholders of the company.

Government

Banks

History Of Taxes & Power Of CorporationRobin Hood : Collect it from the rich and give it to poor.

Learn to minimize the taxes.

The Rich Invent Money Make Good Use of Time

Identify an opportunity Everyone else

missed

Two Types of investors:

1.Buyers of packaged Investments

2.The PROFESSIONAL Investor

Work to Learn, Don’t Work for Money

Learn skills like PR, Marketing and

advertising.

Take a second job if it means learning

more.

Overcoming ObstaclesFive Obstacles to Financial Independence

1. Fear2. Cynicism3. Laziness4. Bad Habits5. Arrogance

10 steps to awaken your financial genius:

The power of spirit. The power of choice.

Greatness is not a function of circumstance. Greatness , it turns out , is largely a matter of conscious choice - JIM COLLINS

The power of association. “A man only learns in two ways, one by

reading, and the other by association with smarter people.”

-by Will Rogers.

The power of learning quickly. “He is most original who adapts from the

most sources.” -by John Adair.

• The power of self-discipline. The power of good advice

The power of getting something for nothing. The power of focus.

The power of myth. The power of giving.

Think and take action. Stop doing what you are doing. Action beats inaction.

Why you should read ? Broaden your vision Redefine your views about money How to start and run a company In short , if you really have dreams to

touch the sky , this book is highly recommended

CONCLUSION

Not everyone seems pleased with the rather blunt way Robert Kiyosaki explains these money making principles in his book, and I partially agree. However, there is much knowledge to be gained if you are able to look past that layer.