- Valuable Lessons Worth Millions: Rich Dad Poor Dad
If you have not yet started investing in your financial education, then these lessons from the book Rich Dad, Poor Dad will be of great help for your personal growth.
Books, and especially great references like this one by Robert Kiyosaki, are a great source of information, knowledge and experience for anyone who wants to grow in the business world, and in the personal sphere.
If you have not yet read Rich Dad, Poor Dad, the invitation is that you read it. To inspire you to do so, (and if you already have, to refresh your knowledge), below you will find the key lessons of this great personal finance book.
Brilliant lessons from Rich Dad, Poor Dad:
In a nutshell, in this book you will find tools and information to have a financial awakening, and realize that you can take ownership of your personal finances.
Written by Robert Kiyosaki and Sharon Lechter, the objective of this book is to teach you that anyone can achieve financial freedom by following a few simple steps and recommendations.
Best of all, it is an easy book to read, apply its advice and review your progress. So if you want to improve your finances, pay close attention to these lessons and be sure to read this great book.
Lesson 1: Don’t be addicted to money. Work to learn, don’t work for money. Work for knowledge
There are times in life meant for learning, and times meant for earning. If you think about money all the time, sacrificing the possibilities of learning or gaining experience; you may gain something in the short term, but you will be missing out on better gains in the long term.
Lesson 2: There is a difference between being poor and being broke. Being broke is temporary, being poor is forever.
Do you have financial problems or debts that you don’t know how to get out of? It is very different to have difficult financial situations, and it is very different to have a poverty mentality.
If you have an abundance mentality, and you are financially educated, you will be able to get out of bankruptcy situations. If not, no matter how much money you have, you will always manage to get into financial trouble again.
Lesson 3: In the real world, it’s usually not the smart ones who lead the way, but the ones who dare.
Material, emotional and spiritual wealth do not depend solely on your levels of intelligence and knowledge. Rather, they are the result of a mix of skills, attitudes, mindsets and ideas that lead to your level of wealth.
Remember that to achieve financial independence you not only need to be smart, you also need other skills, social capital and a spirit that dares.
Lesson 4: It is much more important to increase your income than to cut your expenses.
Have you checked your ant expenses? No matter how much you earn, if you don’t manage your expenses well, you will always be in trouble.
Additionally, remember that the possibility of increasing your income has no limit, while your expenses can be reduced up to a certain level. So don’t stop looking for alternatives to increase your income.
Lesson 5: Unfortunately for many people school is the end, not the beginning.
When was the last time you read a book, attended a course or enrolled in an in-person workshop? If you really want to improve your income and overall financial situation, you should opt for a beginner’s mentality.
Every day learn something new, buy one of these books for entrepreneurs, invest in courses and surround yourself with people who are better than you, and from whom you can learn something new.
As Robert Kiyosaki says in one of his phrases, “what you don’t know is what keeps you poor”.
Lesson 6: Many people fail to realize that it’s not how much money you make, it’s how much money you keep.
Back to point four, while you should strive to increase your income, if you have bad spending habits, if you constantly take on debt and live for show, no matter how much you make, you will have financial problems.
Money management is a skill you must develop if you want to live financially free, and this is one of the great lessons of the book Rich Dad, Poor Dad.
Lesson 7: You are only poor if you give up. The most important thing is that you did something.
Most people only talk and dream about getting rich. You must have done something.
The big difference between millionaires and the rest is that they had the courage to try, took risks and took responsibility.
Many people talk and dream of wealth. Unfortunately, their actions speak of a very different reality.
Lesson 8: Skills will make you rich, not theories.
It is useless to memorize theories in real life, because that is not how the economy and the world in general works.
What will truly differentiate you from the rest is your ability to analyze, to take action with the information you have and to intelligently assume the consequences of your decisions.
Wealth is found in doing, not in knowing. It is useless to know a lot and not apply it, nor does it work to do a lot without knowledge.
Lesson 9: Adequate physical exercise increases your chances of being healthy, and adequate mental exercises increase your chances of wealth. Laziness decreases both health and wealth.
Do you already know what the principles of wealth are? Money, like many other resources in life, follows a series of practical laws that do not fail. They are a kind of formula that you must follow to obtain a specific result.
The more you train your mind to attract wealth, the more prepared you are, and the more attentive you are to business opportunities, the easier money will come into your life.
Lesson 10: Money without financial intelligence is money that disappears quickly.
Money is the result of the kind of thoughts, actions and decisions you make in life.
This is the same reason why many people who win the lottery end up in poverty, because the problem has never been about money, but about mindset.
Remember the following: More money will not solve your bad spending habits.
Lesson 11: Lack of money is the root of all evil.
Another great lesson from the book Rich Dad, Poor Dad is that lack of money, not money as such, is the root of all evil. The point is that money simply amplifies what is inside people.
Lesson 12: Money is just an idea. If you want more money, simply change the way you think.
Robert Kiyosaki puts it this way: Every person started from scratch with an idea, and then turned it into something great. It only takes a few dollars to start and turn this idea into a big business.
Lesson 13: A person can be highly educated, professionally successful, and financially ignorant.
A career, or a salary, does not determine your level of financial intelligence. Like many other subjects and fields of knowledge, you have to invest time and resources to educate yourself in managing and building your wealth.
In fact, many professionals with great degrees and specializations struggle financially because of poor financial decisions.
Lesson 14: If you want to go somewhere, it is better to find someone who has already been there.
The easiest way to achieve your mindset, financial or otherwise, is to surround yourself with people who are already where you want to be.
Mentors in your life bring experience, knowledge and save you a lot of headaches because they have already experienced what you are just starting out with.
Without a doubt, one of the smartest decisions you can make in your process is to take advice from people who have already achieved what you dream of.
Lesson 15: Money comes and goes, but if you are educated on how money works, you gain power over it and can start building wealth.
As we’ve mentioned in other Rich Dad, Poor Dad lessons, money is a result. If you understand how it works and how to multiply it, this knowledge will make any investment decision easier.
The invitation is simple: Ask yourself not so much how to have more money, but what skills you should develop that will result in better and more sources of income.
Lesson 16: How many people say: “I’m not interested in money”. Yet they have an 8-hour-a-day job.
In other words, if money is not important to you, you won’t have it in your life.
Stop thinking that, if money is important to you, then you are a bad person or have inordinate ambition. Also, don’t compare money with other aspects of your life.
Rather, be aware and accept that money is important in certain aspects of your life, that it is necessary and that you want it to work for you, so that you can focus on what is truly important and valuable to you.
Money is an important means, and there is no need to blame it for situations that do not correspond to it.
Lesson 17: The main difference between a rich person and a poor person is how they handle fear.
We all have fear, only some are paralyzed and others act. Even with fear they decide to act and this is what has allowed them to become rich people.
The idea is not to live without fear, because fear is part of our human nature. The objective is to transcend them, to act in spite of doubts, and to assume responsibility.
Lesson 18: The poor and the middle class work for money. The rich make money work for them.
Do you have a source of passive income? You must be clear that if you trade your time for money, you will never achieve financial independence. Your time is limited, you have 24 hours every day and you need rest and space for your family.
Unlike your time, money does not need rest or weekends, money works for you constantly, multiplying and growing while you continue living and doing what you are passionate about.
Lesson 19: The philosophy of the rich and the poor is this: The rich man invests his money and spends what he has left. The poor man spends his money and invests what he has left.
Which of these is your philosophy, do you spend and then save, or are you one of those who prefer to pay yourself first and then spend what is left over?
When you don’t have a financial plan you tend to make impulsive decisions with your money, you stop thinking about your future and become a slave to promotions, discounts and unnecessary expenses that impoverish you without realizing it.
Lesson 20: A winning strategy must include losing
In building wealth, you must assume difficult moments, bad decisions and situations outside your control.
It would be illusory to think that everything will always work out as you expect it to. The reality is very different and there are complex moments.
Within these, you must have the tranquility to think of alternatives, take calculated risks and assume your responsibility, therein lies the difference between the successful, and those who complain.
Lesson 21: Winners are not afraid of losing, unlike losers.
As we mentioned in the previous lesson of the book Rich Dad, Poor Dad, failing is part of the process of success.
Don’t expect not to fail, but rather be prepared so that when this moment comes, you have the ability to adapt, learn the lesson and continue to grow.
Lesson 22: Leverage is the reason why some people become wealthy and others do not.
Do you know what financial leverage is? Unfortunately many people assume their financial future based on their current reality and resources, limiting themselves to the opportunities that exist.
When you understand how leverage works, you open your mind and access new profitable businesses.
However, it is important to clarify that these opportunities must be studied and analyzed, since all leverage implies a commitment to be assumed.
Lesson 23: Financial struggle is usually the result of people working all their lives for someone else.
As harsh and uncomfortable as it sounds, the reality is that the richest men in the world do not work for someone else. By this I am not saying that everyone should become an entrepreneur, but the reality is that the money is found outside of an office.
While there may be great salaries, and very well paid people, the risk involved is very high.
So back to one of the Rich Dad, Poor Dad lessons above, ask yourself how to create new sources of income that reduce your financial risk.
Lesson 24: Everyone can identify a risk. An entrepreneur can see the reward
This is what characterizes great entrepreneurs, they have the ability to see opportunities, while others see risks and fears.
And the exact opposite happens when everyone sees great opportunities, ignores obvious risks and is dazzled by a number. Entrepreneurs are able to think with a cool head, leaving their emotions aside.
From now on, when you feel fear in the face of an opportunity, ask yourself what reward you are missing. Undoubtedly, you will have much to gain.
Lesson 25: The more a person seeks security, the more he gives up control over his life.
To conclude these lessons from the book Rich Dad, Poor Dad, keep in mind that all the decisions you make in your life based on fear end up with limited results.
You can’t gamble your life expecting not to lose. You must have a mindset of abundance, growth and wealth. Convince yourself that you are in control of your life, that your financial future is in your hands and that you can build wealth.
When you believe this, you will begin to make decisions aimed at growth, you will let go of unnecessary fears and you will begin to live to win, and not to lose.
It is time to think abundantly and put these lessons into practice:
Ultimately it all depends on how much you commit to change, how you handle the circumstances around you, and use even the disadvantages to your advantage to learn.
Those who have started their careers from scratch know that this is possible and that it takes work and dedication but they can succeed once they are determined to achieve it.
Take advantage of the knowledge in books, it is there where many have left their teachings thanks to their own processes.