This is the first “Rich Dad” series reserve that I’ve read. I completed the publication a couple weeks ago and feel there are a number of factors that I’d like to explain here that are interesting and beneficial. As a disclaimer, I have also been listening to the Rich Dad Podcast, so easily inject something from my storage that had not been in the written book, I may be simply confusing it with something I discovered in the book. I concluded that individual ideas about how exactly to make money come and go, but it’s not until you come up with a big picture until you can determine how to exploit a concept.
I get the sense that if you read one of Robert Kiyosaki’s books; you probably get a complete lot of the same information in every the other books he writes. I certainly listen to the echoing of some core ideas again and again between this written publication and his podcast. I assume the explanation for this is to allow readers to get some of his books and get the building blocks set up before he goes into the greater technical conversation. What’s with the “Rich Dad” and “Poor Dad” game titles?
As Robert points out in his publication, he two males in life that he treats as his “Dads,” Poor father is his natural father and rich is his closest friend Mike’s father, who is Rich incidentally. How rich is hard to tell, however the sense is got by you that he is a wealthy businessman who operates many businesses, including real estate businesses.
So how did Mike’s father get rich? The response to this question was not in the publication, but it’s something I learned. When Mike father was 13/14 years of age, his dad approved and Mike’s father inherited the family business away. Mike’s father dropped out of school and learned everything he had a need to find out about the family business from the team of attorneys, accountants, bookkeepers, and executives available (his team).
So since he learned the business from an age, he previously a very different outlook that the youngsters nowadays who go to college and get employment. Mike’s dad was always and employer, no employee, so his outlook on how to generate wealth was completely different than the average individual. Poor father prompted Robert to visit college always, get good marks, and get a good job.
Poor father didn’t know anything about starting a small business or generating prosperity, his values focused around being dedicated to his company and working his way in the chain as the only methods to earn more income. Unfortunately, after all the full years he focused on his company, a few years before retirement, he was fired and found himself in an exceedingly hard position of determining how to endure. Robert was a “C” student, he had not been particularly keen on school and his grades reflected that. Getting started off with a few of the core concepts.
- 29% of companies borrowed capital in years 2-4
- The annual expenditures you will incur, including specific things like:- real estate fees
- Allows maximum taxes deductions (as you are always paying interest on the full balance of the loan)
- Annuitized contracts
Another important point to the Rich state of mind is the idea that there surely is abundance everywhere. The idea that all you should do is find out and provide something that individuals want and they’ll be pleased to give you money for this. Robert drives home the basic proven fact that kids coming out of school know nothing at all about money.
” Of course not, because that idea of turning my salary into positive cash flow assets was not in my vocabulary. As I stated in the past, A Bachelor is got by me degree in the technology field, aside from taking accounting plus some low-level business classes in college, I learned nothing about investing or growing money. If it wasn’t for this short stint I had fashioned where I actually started and ran my very own business, I probably would have fallen into the rat race from day one and never thought about how exactly to get out of it.