One of the most eye opening and transformative books for me is Robert Kyosaki’s Rich Dad Poor Dad books. I read it when I was in college and although I didn’t really understand it at the time or implement it then. It has come up again for me. I had never heard of words like financial literacy or financial IQ. I just assumed I was unlucky and focused on being a hard worker instead of a smart worker.
Years later now I find myself married with a small family and I remember what the books said.
I have a newfound fire and desire to build the best life possible.
In the book it talks about why the Rich gets Richer and the poor poorer. It’s about lessons taught to rich kids that poor don’t. It has nothing to do with how much money you make but what you keep. And the rich have the financial IQ and literacy to navigate the financial waters.
He talks about 7 principles one must master to be rich. In a short overworked they are
1-The Rich don’t work for money they work for assets. A Rich person knows the difference between a liability and a asset. A new sports car vs Amazon stock.
2-Finacial Literacy: it’s not about how much you make, it’s about what you keep.
3- Mind your own business . The rich focus on managing assets, anything that generates more money so they have their dollars working for them. Like a webpage, a business or real estate. The poor focus on their income statements.
4- Understanding the power of Corporations. This basically comes down to understanding why to incorporate, knowing tax laws, understanding markets and basic accounting. All this leads to getting favorable taxes so you can keep more of your money.
5-The rich seize opportunities to invent money. You see opportunities not with your eyes but imagine them with your mind. In the real world it’s not the smart that get ahead it’s the bold risk takers. I personally really like this and if you are here on Steemit or in Crypto. Welcome we are the early adopters. We are the bold.
6-You have to work to learn not for money. If you know more you will always be ahead. Life smacks you around screaming wake up! No wonder CEO’s read so many books a year. They constantly evolve and learn and adapt.
7- Overcoming Obstacles, the rich learn how to overcome their own self imposed obstacles. Fear, cynicism which is self doubt( market crash and bear market anyone) how many times have not bitcoin been declared dead ? Laziness and bad habits together with arrogance are obstacles the rich overcome.
I have returned back to the principles of this book as I embark on this crypto and Steemit experience to better myself and reach a dream of a better life. I hope it works out but I sure must try. I recommend anyone to read this book and it’s a real easy read. Robert Kyosaki comes across as very sincere and honest. He also practices the principles of give and you shall receive by educating people. And yes I am aware that the books are another stream of income for him but it also talks about that you shall find mentors that are successful.
Who and what books do you guys recommend ? What book changed your lives and outlooks ? Have you new perspective ?
Would love to hear from you guys.