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Rich Dad Poor Dad-FINAL

Date post: 10-Apr-2018
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    1

    RICH DAD POOR DAD

    Presented By

    Division A

    Natasha Bharvani(11)

    Ninad Bhate (12)

    Rohan Gholkar(31)

    Nishit Gogri(33)

    Ankush Gupta(36)

    Nikhil John(46)

    Supreet Kaur(54)

    Division Alpha

    Vishal Phadke(82)

    Pradnyesha Rode(87)

    Pooja Shah(93)

    Kush Tandon(123)

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    2

    SECR

    ETT

    O BE

    COME

    RICH?

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    3

    AUTHOR:ROBERT

    KIYOSAKI

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    Who is Robert Kiyosaki?

    Investor, businessman, self-help author and

    motivational speaker

    Gunship pilot at Marine Corps.

    Selling Copy machines (1975)

    Started many business

    4

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    Who is Sharon Lechter?

    Best known as the co-author of

    Rich Dad, Poor Dad Series.

    Is a CPA, Author, Entrepreneur,

    educator, International Speaker and

    Philanthropist.

    Actively engaged to advance

    financial literacy across the nation.

    5

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    Why this book? To learn and practice to become financially

    independent

    Two different points of view

    Schools do not equip kids for financial

    independence

    6

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    Central Theme

    There is a need for financial literacy

    The poor and middle class work for money

    The rich have money work for them

    The concept of Rat Race & how to get out of it

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    Central Theme Change ourselves with fast changing world

    Concept of assets, liabilities and wealth

    Strategies and tips for becoming financially

    independent

    Overcoming obstacles

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    Rich dont work for money

    The rich makes money does NOT work for it

    Fear and desire leads life to a big trap (rat race)

    Cut your expenses moderately

    Invest wisely

    Create opportunities to earn passive incomes

    Seek to be a business owner and/or an investor

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    Financial Literacy

    Money KEPT v/s money MADE

    Assets v/s Liabilities

    Your home : Liability or Asset?

    Difference between Cash Flows

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    Cash Flow : Poor person

    11

    Income

    Expense

    LiabilitiesAsset

    Taxes

    Food

    Rent

    Clothes

    Job

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    Cash Flow : Middle class person

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    Income

    Expense

    LiabilitiesAsset

    Taxes

    Mortgage

    Clothes

    Fun

    Job

    Mortgage

    Customer loans

    Credit Cards

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    Cash Flow : Rich person

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    Income

    Expense

    LiabilitiesAsset

    Taxes

    Food

    Rent

    Clothes

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    Mind your own business

    Excel with your qualifications

    Do not depend on a salaried job

    Build the asset column first

    Profession generates income while business

    generates assets

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    Stark Difference

    People with Corporations

    Earn

    Spend Pay taxes

    People who work for Corporations

    Earn Pay taxes

    Spend

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    Financial IQ

    Four main areas of expertise of Financial IQ

    Accounting

    Investing

    Understanding Markets

    Law

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    Hard Truths

    Luck is created- just as money

    Money isnt real, it is what we agree it is

    Humans think with their minds, not bodies

    3 types of people:

    Wait for the right opportunities

    Get the right opportunity but have no money

    Have the right opportunity and the money, but dont

    identify it

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    4 technical skills of Financial Intelligence:

    - Financial literacy

    - Investment strategies

    - The market

    - The law

    Guts, daring and audacity decides our future

    Best deals for those who understand the game

    You cant do that! v/s I dont know how to do that

    yet 18

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    Work to Learn not only for Money

    Two investors

    - Buys a packaged investment

    - Creates investments

    To be the second type:

    - Find an opportunity everyone else has missed

    - Learn How to raise money

    - Learn How to organize smart people

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    Roadblocks

    Fear- Its Real

    Cynicism-What if?

    Laziness-Work out

    Habits- Pay yourself

    Arrogance- Educate yourself

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    How do I Start?

    I need a reason greater than a reality

    I choose daily

    Choose friends carefully

    Master a formula and then learn a new one

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    How do I Start?

    Pay yourself first

    Pay your brokers well

    Be an Indian giver

    Assets buy luxuries

    The need for heroes

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    Heres something more

    Stop doing what you are doing

    Look for new ideas

    Find who has done what you want to do

    Take classes and buy tapes

    Make lots of offers

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    And something more

    Look in the right places

    Look for people who want to buy first, then I

    look for someone who wants to sell

    Learn from history

    Action always beats inaction

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    Summary A tale of two Dads-

    Highly educated professor (Poor Dad)

    Eighth grade drop-out (Rich Dad)

    Rich Dad teaches lessons on money by

    making them learn through experience

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    Conventional or Poor Dads outlook Go to school and get good grades

    Work for a respectable firm

    Earn a livelihood

    Pay your bills and taxes

    Buy liabilities (mortagage, credit card debt)

    Rat Race repeats

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    Unconventional Rich Dads Outlook: You are what you Think

    Job is short-term solution to a long-term

    problem

    A highly paid slave is still a slave

    Why climb the corporate ladder when you can

    own the ladder?

    Identify an opportunity everyone else has 27

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    Perspective on the book Entrepreneurs biggest problem today :

    Funding.

    Is it practically possible?

    An eye-opener for new investors in stock

    market & real-estate

    Great source of inspiration

    Risk Management 28

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    Examples Wipro Story

    Infosys Story

    Other multibaggers (Kotak Mahindra etc.)

    Real Estate and Gold

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