Rich father poor father of Robert Kiyosaki continues to make the right notes with readers worldwide, especially those who have a great interest in personal finances and equity investing. The first copy of this book was published in 1997, since then it has fully recorded the imagination of readers and the way in which they think transformed.
In a nation like India, where financial literacy still evolves as a concept, the timeless words of wisdom that are shared in this book offer Robert Kiyosaki holistic and practical solutions to promote the construction of wealth. This description is devoted to discussing the seven important collection restaurants that can reform your financial mindset.
1. The rich do not work for money
Kiyosaki writes,“The poor and the middle class work for money. The rich have money to work for them.” This emphasizes the importance of investing and building passive income flows, rather than just trusting salaries. This also means that the Rich Evolve Systems where money helps to generate more money even while they sleep.
2. Financial literacy is extremely important
The author is convinced that the schools rarely teach children how to manage their finances. That is why, according to him, it is important for us as a society to teach and stimulate current and upcoming generations with invaluable lessons in financial literacy.
Especially for a nation like India, where personal finances are overlooked and are not part of formal education, reading and learning about assets, opportunities and investments are a game changer.
3. Investing and buying assets, no liabilities
One of the most celebrated quotes in the book is: “An active puts money in your pocket. Liability takes out money. ‘ Through this quote, Kiyosaki actually urges readers to build wealth through appreciative assets such as shares, investment funds, real estate and to acquire companies. He further explains that the depreciation of assets such as expensive cars, machinery equipment, watches should be avoided, among other things, similar assets and light should be thrown by only investing in valuing assets.
4. Keep thinking and watching your own company
In addition to traditional jobs only, Kiyosaki encourages thinking and encourages companies, unique investment ideas or breaking business concepts. This approach always helps individual investors to constantly develop their personalities and to become better people. That is why the idea that is worked out by him is simple: watch your company, keep on constructive thinking and try to come up with unique side ventures or investment ideas.
5. Taxes, money planning and companies
Kiyosaki discusses a powerful but often misunderstood concept: the rich user companies as aids to legally reduce their tax pressure and to protect their considerable wealth. Kiyosaki claims: “It is Not how much money you earn, it’s how much money you keep. “
The basic idea that he explains here is how rich individuals structure their income through different entities with which they can deduct costs, invest the profit and only pay taxes on what remains afterwards.
6. Work to evolve, grow and learn not to earn
Kiyosaki helps: “Job security meant everything for my well -trained father. Learning meant everything for my rich father, “ This simply means that you should never fall for the ease of security that your task offers.
On the contrary, you should work to evolve, grow and learn in life. Skills such as investing, sales, management and accounting can offer long -term financial rewards if they are used efficiently.
7. Spoiled fear, be rational and take risks
Finally, Kiyosaki emphasizes that fear of failure and a disaster prevents people from investing.“Losers are people who are afraid to lose,” He writes. Smart risks, sensible planning in combination with knowledge and rational thinking is essential for achieving financial freedom.
Hence, in a rapidly changing Indian economy, Rich father poor father Remains a must-read for those who look for financial prosperity and long-term investment success.
Safeguard: This article is only for informative purposes and not financial advice. Consult a professional before you make investment decisions.
