Best of Rich Dad Poor Dad by Robert Kiyosaki

A book that everyone should read! Below I have collected the best quotes from the book and arranged them in a convenient sequence.

About assets
What asset the author proposes to acquire:

1. Businesses that do not require my presence. I own them, but they are controlled by other people.
2. Stock.
3. Bonds.
4. Investment funds of open type.
5. Real estate that generates income.
6. Debt receipts.
7. Copyright royalties from intellectual property.
8. And other things that have value, produce income, are highly valued, and come true profitably.

There are 5 main reasons why financially literate people may not yet create a rich “asset” column.

1. Fear

• People lose because they are too afraid to lose.
• Texans don’t bury their failures. They are inspired by them.
• If you want to become rich, you must be able to focus.

2. Cynicism

• Cynics criticize, winners analyze.

3. Laziness

• The most common form of laziness is laziness disguised as being extremely busy. Is there a cure for laziness? Yes, it’s a little greed.
• The words “How can I afford it?” open the way to possibilities, excitement and dreams.

4. Bad habits

5. Arrogance

• When you realize you’re clueless about a subject, find an expert on the subject to fill in the gaps in your education, or find a book on a subject that interests you.

Financial intelligence and financial genius

Financial IQ consists of knowledge in 4 areas:

1. accounting or financial literacy, the ability to read numbers;
2. investment, investment strategies. The science of money making money;
3. market understanding;
4. knowledge of economic laws, jurisprudence.

Financial wisdom includes accounting, investing, marketing, laws.

10 steps to wake up a financial genius

1. I need a reason to rise above reality, I need strength of mind.

2. I choose every day, it’s about freedom of choice, about being able to choose.

3. Choose your friends carefully.

The reason you want to have wealthy friends close to information is that where there is information, there is money being made.

4. Master one formula and then learn a new formula.

The speed with which you learn something is important.

5. Pay yourself first.

Lack of personal self-discipline is the main distinguishing factor between the rich, the poor, and the middle class.

Rule number 1 in this system is not to get into debt. Keep costs low.

Rule number 2 – when I occasionally feel a lack of funds, I still pay myself first. Don’t give in to pressure and dig into your savings or investments.

6. Pay your brokers well.

7. Be an “Indian giver.”

8. An asset brings luxuries.

9. Need for heroes: the power of myth. Donald Trump, Warren Buffett, Peter Lynch, George Soros, Jim Rogers.

10. Give and you will be rewarded: the power of the giver.

If you want to learn more about money, teach someone else to understand what money is.

About success

Success requires strong management skills in areas such as:

1. Cash flow management, i.e. cash flow.
2. Systems management (including yourself and time with your family).
3. People management.

The ability to be a customer, an employee, a boss, a spouse is all essential to personal success. Communication skills such as writing, rhetoric, negotiation are critical to success.

If you want articles as an investor, you should develop three skills, three skills:

1. How to discover an opportunity that others have not seen, missed.
2. How to get money.
3. How to connect with smart people.

Adviсe

Tips for action:

• Stop doing what you’re doing.
• Look for new ideas.
• Find someone who has done what you want to do.
• Attend classes and buy cassettes.
• Make lots of shopping offers.
• Read Peter Lynch’s book Fighting the Current.
• First I look for people who want to buy, then I look for people who want to sell.
• Buy a pie and cut it into pieces.
• Learn from history.
• Action always wins over inaction.