Today, we’ll go through 7 lessons in Robert Kiyosaki’s classic book, Rich Dad Poor Dad that you could have overlooked.
This is one of the first books that I read in the personal finance niche which taught me valuable lessons. Instead of keeping them to myself, I decided to share my learnings.
If you’ve read the book, feel free to share your learnings in the comment section below.
The book is about recognising assets as well as liabilities.
Also discussed are the differences in financial behaviours between the rich and the poor, as well as how the wealthy how wealthy make use of the debts and taxes to generate more wealth.
Personally, I have become an ardent follower of Robert Kiyosaki ever since I completed reading the book.
“Rich Dad, Poor Dad” was the book that first introduced me towards the realm of riches. I learnt in early years of my life that there is a major difference between what and how the wealthy thinks about money and how the middle and the lower class thinks about money.
There seem to be numerous meaningful lessons in this book which you may have missed. We have jotted down 7 such meaningful lessons for you to read.
Let’s just get started because they’re crucial to knowing and analysing the world of money.
7 Meaningful Lessons from Rich Dad Poor Dad
Face and Overcome Your Challenges
Suppose you wish to leave your work as an accountant and create or establish your own store.
But you are not able to take the decision. You are not able to leave your job. Something within you is asking you to stop. You are afraid of rewards and consistent profits. Your pay cheque comforts you.
You are not able to come out of your comfort zone because of uncertainties and the risk that is involved in business.
Worry as well as confusion are dictating your selections for you.
Anxiety, fear and the comfortable life of regular paycheque prevents you from taking the leap, starting something that you desire, achieving your goals, developing professionally as well as personally, as well as experiencing your maximum capabilities.
Throughout the big scheme of things, this viewpoint can indeed be expensive.
You may really be a very hard worker, but not courageous.
In the actual world, it’s the courageous who go ahead, not really the hard worker.
Learn how to manage your money.
Throughout his book, Kiyosaki discusses the importance of becoming responsible with money, particularly entails knowing the fundamental premise of how wealth moves around the world. If you do not even understand how it works, maintaining control of your finances can be a difficult chore.
Analyzing how much you make as well as invest each month is a good habit to get into.
This strategy will help you understand from where your money comes, how much is departing your checking account, as well as how much you can still save.
“Money comes and usually goes away,” says Kiyosaki, “and even though you already have the information about just how money was spent, you acquire control over that and can start generating wealth.”
Your mind is your most valuable asset.
Although intelligent individuals do not always succeed, bold brains do. The brilliance is stifled if anxiety is too powerful. Huge opportunities really aren’t visible to the naked eye. Things are perceived through your thoughts.
Your fortune and wealth are proportionate to your risk-taking capacity.
The poor as well as middle class people like to keep things simple whenever it comes to finances. Their philosophy is to work extremely hard, hit the books, and obtain a stable career.
The wealthy, on the other hand, takes a different route. They improve their business IQ as well as take on more risk. They are not afraid of losses.
Instead of fretting about receiving a salary, they earn in millions. Train your mindset to be open to new experiences and also to adapt.
You will be left behind because you stick to old notions.
Old notions are nothing but burdens. So, put your money into the greatest single asset that could be managed anywhere at any time.
You will get more if you offer more.
You’ve probably met people who are seeking more out of life yet refuse to give anything at all in favor. They remind me of Kiyosaki’s ‘poor father.’ He was a member of the labour unions as well as desired to work very little and earn more money. That, however, that’s not how the world actually works. If you really want to earn more money, you must put in more effort. You may not see results right away, but the time and effort you invest in it will eventually pay off. If otherwise, you should reconsider your approach as well as consider whether the venture that you have put your time & expense into is worthwhile.
Get a goal of becoming more wealthier not just rich
The majority of us would go to job or open a business that pays us on a regular basis. Those can be rather large in many circumstances. It has the potential of making you extremely wealthy, yet not wealthy. It’s because there’s a distinction to be made between someone being rich and also being wealthy. It all ultimately comes down towards how you spend your money. According to Kiyosaki, going to spend your hard-earned wealth on premium products may make you appear wealthy, and then you will actually become impoverished as a result of your irresponsible spending. “The poor as well as middle classes frequently purchase luxurious goods such as large houses, jewels, furs, jewels, or yachts in order to appear wealthy,” he adds.
Dare to be different
You learn to earn a living in school. Our educational system is based on the idea of developing employees for businesses and institutions. Since they are terrified, people learn this without questioning. It’s also a straightforward path. Be bold if you really want to take command.
Consider the possibilities and all the opportunities
Kiyosaki’s ‘rich father’ in the book refuses to allow his son to declare, “I can’t really afford that.” He instructs him rather than answer, “How then can I buy it?” Although the first phrase limits your thoughts, the second phrase offers exciting options, problems, enthusiasm, as well as dreams, driving your mind to find answers and solutions. s The most of the poor as well as middle class do not attain success and happiness in life, according to the author, although they do not put it in the context of opportunity. As a result, if you really want to succeed in life, you must be willing to face obstacles and take chances.