Robert T. Kiyosaki
Rich Dad Poor Dad!
About the Book
The world-famous book ''Rich Dad Poor Dad'' was written by great author ''Robert T. Kiyosaki''. This book tells us about the importance of finance. The total number of pages in this book are 371
Review of The Book
Hey guys, I hope you are doing absolutely fine. Today I'm going to tell you one big secret that why some people are getting richer while most people live like a poor or middle-class life.
One guy whose name was Robert who had 2 fathers.
Now don't think the wrong one was his real father and second was his friend's father, 1st father has done a Ph.D. while 2nd not even passed 8th, both dads were hard-working but both had a different point of view to see something, both fathers used to teach different things to Robert.
1st dad used to say money is the main problem in our life while 2nd said to lack of money is the main problem of our life.
The most important thing among these is to know about ''FINANCIAL LITERACY'', That means to know the difference between ASSETS & LIABILITIES.
To know the difference between ASSETS & LIABILITIES, It's a quite different our commerce.
ASSETS means which makes the money for you
LIABILITIES means which takes the money from you
Rich people always buy Assets while Poor and Middle-class people always Liabilities.
For Example. There were two friends Ram & Mohan, both were in the same position as the company, whenever they get the salary.
Ram used to buy a new phone, clothes, bike, and new things which comes in the market, These things make him feel like Rich but he didn't get these all are the liabilities which will take the money from him.
While when Mohan used to by an Asset like Stocks, Bonds, Real-Estate, and buy some courses to improve his skills.
After 2 years Mohan became Billionaire while Ram was in the same position where he was.
One guy whose name was Robert who had 2 fathers.
Now don't think the wrong one was his real father and second was his friend's father, 1st father has done a Ph.D. while 2nd not even passed 8th, both dads were hard-working but both had a different point of view to see something, both fathers used to teach different things to Robert.
1st dad used to say money is the main problem in our life while 2nd said to lack of money is the main problem of our life.
The most important thing among these is to know about ''FINANCIAL LITERACY'', That means to know the difference between ASSETS & LIABILITIES.
To know the difference between ASSETS & LIABILITIES, It's a quite different our commerce.
ASSETS means which makes the money for you
LIABILITIES means which takes the money from you
Rich people always buy Assets while Poor and Middle-class people always Liabilities.
For Example. There were two friends Ram & Mohan, both were in the same position as the company, whenever they get the salary.
Ram used to buy a new phone, clothes, bike, and new things which comes in the market, These things make him feel like Rich but he didn't get these all are the liabilities which will take the money from him.
While when Mohan used to by an Asset like Stocks, Bonds, Real-Estate, and buy some courses to improve his skills.
After 2 years Mohan became Billionaire while Ram was in the same position where he was.
CASH-FLOW
Let's see one by one ''CASH-FLOW'' of Rich, Middle & Poor people.
Poor People
- It's the Cash-Flow of Poor Class People, they also get money from one resource that is Salary, then they spend their money in the Expenses section, and at the end of the month, They have nothing in their pocket to buy ASSETS.
- Their Asset section always empty Because they don't know about that.
Middle-Class People
- It's the Cash-Flow of Middle-Class People, they also get money from one resource that is salary, then they spend their money in Liabilities section, and after getting the money from Liabilities (Liabilities always takes the money from us) they spend their money in Expenses and at the end of the month, They have nothing in their pocket to buy an ASSETS.
- Their Asset section always empty Because they don't have money to buy that.
Rich People
- It's the Cash-Flow of Rich Class People, They get money from many resources, those are Interest, Capital, Business, Royalty, etc then They spend their money in ASSET section, and after getting the money from ASSET (Asset always give the money to us) they spend their money to again in ASSET and at the end of the month, they have much money in their pocket to buy an ASSETS.
- Their Asset section always full Because they always buy ASSETS.
