“Rich Dad Poor Dad” by Robert Kiyosaki is one of the best-selling books of all time. And for good reason. This book is a complete page-turner. If you want to know how to create a million-dollar mindset, this is the book to read. With that, here are my 5 takeaways.
1) “Proper physical exercise increases your chances for health, and proper mental exercise increases your chances for wealth”. You have to continually exercise your mind. Read, write, attend seminars, etc. It is vitally important that your mind continues to grow.
2) “Once a person stops searching for information and self-knowledge, ignorance sets in. The struggle is the moment to moment – to learn to open or close one’s mind”. This is powerful because it is easy to stop learning, especially if you are successful in the world of “earned income”. Always get out of your comfort zone.
3) In order to be highly successful, we need to Learn..Unlearn…Relearn. There is no standing still in the world. We are not in the Industrial Age, we are in the Infomation Age. Take classes, attend seminars, and talk to successful people. Always.
4) School (traditional education system) is designed to produce good employees, instead of good employers. School does not teach money, budgets, financial independence, how to start a business, or investing. These are things most people spend a lifetime trying to learn. Most never do. This (lack of) knowledge is what will make or break everyone.
5) Wealth is one’s ability to survive so many days, months, or years without working. We need to find our financial independent numbers and set goals based on these. And just when we have enough, learn more, do more, and keep creating businesses and investments. It never stops.
This book is a must for anyone who is ready to receive the information he lays out. For most people, including myself, it is a total departure from general wisdom. School and education are amazing, but they alone will not make you wealthy. You need to understand how an employee, self-employed, business owner, and investor are all linked. Once you understand this and the difference between an asset and liability, you are well on your way to breaking out of the rat race.
This link is to a physical product. The link above is to the digital book. Sorry. I get no credit for digital product links.
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https://www.pinterest.com/kingmarine/military-family-investing/Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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