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3.54 AVERAGE
3.54 AVERAGE
What I learned, in no particular order:
1. Assets are not what I (we?) think they are. I was raised to assume my house, my car, etc were valuable assets but it's not really true - they generate expenses. They're liabilities.
2. Think for myself when it comes to finance and talk to people who are experts in their field, not the neighbor or a friend with poor money management who seems to know it all.
3. Corporations don't care for the ordinary people at all and they have the means to take advantage of that.
4. Middle class takes the brunt of it all.
5. I should educate myself in accounting.
6. It's okay to lose in order to learn.
'Rich dad, Poor dad' can be very engrossing at times. It's also definitely filled with explanations that feel a bit too much. This book did change my outlook and I'm better for it but I won't lie, it's not a straight-forward read. At times it felt like Robert Kiyosaki was deliberately speaking in evasive terms and making a topic 20 pages long when it could've been 10. Also, yes, it doesn't give any real, defined advice. I almost feel like he wrote this in such a way that many people would be fast to recommend it in their excitement (Robert is a good storyteller, despite what he states in the book) but that's all they'd get from it - excitement. A false feeling that they've learned something big. He speaks great tales about his Rich Dad but he never tells you the true meaning behind his advice, the hands-on part. I felt like I was his business project rather than his student.
It did take me quite some time to finish it, in part because of the over-the-top explanations and repetitiveness.
1. Assets are not what I (we?) think they are. I was raised to assume my house, my car, etc were valuable assets but it's not really true - they generate expenses. They're liabilities.
2. Think for myself when it comes to finance and talk to people who are experts in their field, not the neighbor or a friend with poor money management who seems to know it all.
3. Corporations don't care for the ordinary people at all and they have the means to take advantage of that.
4. Middle class takes the brunt of it all.
5. I should educate myself in accounting.
6. It's okay to lose in order to learn.
'Rich dad, Poor dad' can be very engrossing at times. It's also definitely filled with explanations that feel a bit too much. This book did change my outlook and I'm better for it but I won't lie, it's not a straight-forward read. At times it felt like Robert Kiyosaki was deliberately speaking in evasive terms and making a topic 20 pages long when it could've been 10. Also, yes, it doesn't give any real, defined advice. I almost feel like he wrote this in such a way that many people would be fast to recommend it in their excitement (Robert is a good storyteller, despite what he states in the book) but that's all they'd get from it - excitement. A false feeling that they've learned something big. He speaks great tales about his Rich Dad but he never tells you the true meaning behind his advice, the hands-on part. I felt like I was his business project rather than his student.
It did take me quite some time to finish it, in part because of the over-the-top explanations and repetitiveness.
informative
medium-paced
informative
medium-paced
informative
slow-paced
Typical American book that really annoyed me when reading. Nevertheless I didn't want to miss some of the insights it gave me. Why are these business writers always dorks?
informative
medium-paced
informative
medium-paced
informative
reflective
medium-paced
My book summary:
Don't be like "most" people : )
1. have money work for you
2. pay yourself first!!
3. It’s not how much money you make that matters. It’s how much money you keep.
4. Rich people acquire assets.
5. Broke is temporary. Poor is eternal
6. Intelligence solves problems and produces money.
7. Many financial problems are caused by trying to keep up with the Joneses.
8. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets
9. Wealth is a person’s ability to survive so many numbers of days forward—or, if I stopped working today, how long could I survive
10. To become financially secure, a person needs to mind their own business
11. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
12. Learn about - Accounting, Investing, Understanding markets, The law
13. Often in the real world, it’s not the smart who get ahead, but the bold
14. Financial intelligence is simply having more options.
15. The main management skills needed for success are:
Management of cash flow
Management of systems
Management of people
“The most important specialized skills are sales and marketing.”
16. Whenever you feel short or need something, give what you want first, and it will come back in buckets
10 steps:
1 Have a deep emotional reason or purpose for doing what you do, a combination of wants and don’t wants.
2 Understand the power of choice and choose daily what to do, including choosing the right habits and educating yourself.
3 Choose your friends carefully by leveraging the power of association, being careful not to listen to poor or frightened people.
4 Master the power of learning quickly and develop a formula for making money.
5 Pay yourself first by mastering the power of self-discipline to manage your cash flow, people, and personal time.
6 Select great people for your team and compensate them generously for their advice, because the more money they make the more money you will make.
7 Ask “How fast do I get my money back?” by focusing on return of investment first, followed by return on investment.
8 Use money generated by assets you own to buy luxuries by focusing on self-discipline to direct money to create more.
9 Have a role model to follow and tap into the power of their genius to put to your use.
10 Realize that if you want something, you need to give something first.
Don't be like "most" people : )
1. have money work for you
2. pay yourself first!!
3. It’s not how much money you make that matters. It’s how much money you keep.
4. Rich people acquire assets.
5. Broke is temporary. Poor is eternal
6. Intelligence solves problems and produces money.
7. Many financial problems are caused by trying to keep up with the Joneses.
8. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets
9. Wealth is a person’s ability to survive so many numbers of days forward—or, if I stopped working today, how long could I survive
10. To become financially secure, a person needs to mind their own business
11. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
12. Learn about - Accounting, Investing, Understanding markets, The law
13. Often in the real world, it’s not the smart who get ahead, but the bold
14. Financial intelligence is simply having more options.
15. The main management skills needed for success are:
Management of cash flow
Management of systems
Management of people
“The most important specialized skills are sales and marketing.”
16. Whenever you feel short or need something, give what you want first, and it will come back in buckets
10 steps:
1 Have a deep emotional reason or purpose for doing what you do, a combination of wants and don’t wants.
2 Understand the power of choice and choose daily what to do, including choosing the right habits and educating yourself.
3 Choose your friends carefully by leveraging the power of association, being careful not to listen to poor or frightened people.
4 Master the power of learning quickly and develop a formula for making money.
5 Pay yourself first by mastering the power of self-discipline to manage your cash flow, people, and personal time.
6 Select great people for your team and compensate them generously for their advice, because the more money they make the more money you will make.
7 Ask “How fast do I get my money back?” by focusing on return of investment first, followed by return on investment.
8 Use money generated by assets you own to buy luxuries by focusing on self-discipline to direct money to create more.
9 Have a role model to follow and tap into the power of their genius to put to your use.
10 Realize that if you want something, you need to give something first.
informative
inspiring
fast-paced