Introduction
I was born in a family that believes on High education as everything we need in our life to be successful and to get rich. This dogma has leaded my mind in my entire life, I followed only one option in my education and in my job which is Working Hard, until I read this book - RICH DAD POOR DAD “what the rich teach their kids about money- that the poor and middle class do not!” by ROBERT T.KIYOSAKI - that inversed my thoughts about money and how the cash flow of money works.
RICH DAD POOR DAD really doesn’t need an introduction, it’s been on the best seller books for a long time since 2000 and it does and still the #1 personal finance book of All Time, it is the first book that teaches how to get money and exit the Rat Race, the book doesn’t subscribe neither to the “get-rich-quick” mentality nor the person that read it will necessarily become rich. Instead of this It opens your mind on new ways to looking for financial problems, it educates financial intelligence which allows people to have multiple options, to be financially creative and to think to other different financial solutions rather than: work hard, save money, pay taxes.
What I have learned from this Book?
After reading this book, I personally understood that making money is not about getting a job, accumulate experiences and getting a raise, I understood that this path will get me nowhere, ROBERT KIYOSAKI has given an example of people that use this formula as hamsters that keep running in their wheels, they think that they will get rich by working hard and saving money, but in fact they will go nowhere. The book was grooming me with some sections and some quotes that causes me a dramatic upheaval in the way I think about money.
I learned a lot from that book but my learning still just a theoretical one, this is why I need to apply what I have learned in order to fully understand it. So, I think that I am lucky because I found cryptocurrencies as a great opportunity to take actions: to invest, trade, winning money, losing money and controlling my fear as I mentioned in my previous post.
What I liked more in this book is the way he explained the movement of CASHFLOW. So, in order to understand this I tried to apply it on Steemit, and I made this strategy of investment after every paycheck:
The CASHFLOW : is the way the money moves and it is this movement which differs the Rich from the Middle-Class and The Poor.
To understand the CASHFLOW you need to know 4 important words
- Assets: is anything that puts money in your pocket
- Liabilities: anything that takes money from your pocket
- Income: is money that you possess (Money in)
- Expenses: is money out like taxes
To get rich Simply you need to focus on amassing Assets.
There is also some passages that caught my attention in the book and that I like to share them with you:
“The point I would like to make is that investments come and go. The market goes up and comes down. Economies improve and crash. The world is always handing your opportunities of a lifetime, everyday of your life, but all too often we fail to see them. But they are there. And the more the world changes and the more technologies changes, the more opportunities there will be to allow you and your family to be financially secure for generations to come.”
Chapter 5
And also this :
“Sometimes you win and sometimes you learn. But have fun. Most people never win because they’re more afraid of losing..In school we learn that mistakes are bad, and we are punished for making them. Yet if you look at way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk. The same is true for learning to ride bike.. The sane is true for getting rich.”
Chapter 5
Conclusion
There are a lot of to learn from this book and there are a lot of sections that caught my attention, I can’t write them all, the most important thing is to keep seeking for knowledge, learning and investing in mind which is the great asset that each person has.
I hope you like reading my review about RICH DAD POOR DAD and I hope seeing you in other review of a book. Personally I will read : “Think! Before it's too late” by EDWARD DE BONO. Link from Amazon
If you have already read any of the books that I cite and you want to share with me your experience or if you want to suggest me another book to read please leave what you think in the comment.
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See you soon!
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