Introduction
There are many lessons that you can learn from rich dad poor dad book as it is one of the best book on financial intelligence, and is off course one of the best seller till now.
So I highly recommend reading "Rich Dad Poor Dad" book, You should read it at least once in your life.
Following are some of the lessons from the rich dad poor dad book;
- Assets
- Liabilities
- Difference b/w assets and liabilities
In order to know about the lessons from the rich dad poor dad book you should know about these terms.
These are the terms which which will increase your financial intelligence.And once you increase your financial intelligence who can easily earn a lot of money.
Because more money cannot solve problems, but financial intelligence does.Money without financial intelligence is money soon gone.
So lets begin.
What is Assets?
- Assets is something Which brings money into your pocket
- Spending money on something which gives you more money.
- Buying a property and giving it on rent.
- Owning a business.
- Spending Money On a website/You tube Channel.
- Investments Etc.
What is Liabilities?
- Liabilities is something which takes away money from your pocket.
- Spending money on something which takes more money from your pocket,with time instead of giving you money.
- Buying a new car, bike, Smart phone etc.
Why rich people remain rich,middle class remain middle class and poor class struggles?
Rich People
- Rich people have assets, they spend money on something which brings them more money that's why they become rich day by day.
- That's why if you want to be rich, you have to make more assets and less liabilities.
- Spend money on something which brings you more money, invest your money in businesses etc.
- Have your own business, invest in real estate, stocks, mutual funds etc.
Middle Class
- Those people who are in between rich and poor class have more liabilities and less assets.
- They spend their income on their expenses and buy some liabilities.
- I mean when they have some savings in their income, they will buy a new smart phone, a new car etc in order to impress others.
- They do not buy assets, they want to be rich but are not doing any thing for it, they do not invest their money and just blew all their savings on liabilities.
- That's why middle class people remain middle class and do not grow rich.
- So if you want to grow rich, your liabilities should be less then your assets.
Poor People
- Poor people always struggle financially, they earn a little amount of money and spend it on their expenses.
- Poor people can grow rich if they educate themselves financially.
- They have to understand about assets,they have to reduce their income and start savings today,they have to do a lot of struggle, because it's never easy to achieve something worth while in this world and start from zero.
There is a saying that "life is not a bed of roses" there will be difficulties, struggles, hardships but you have to be calm on the road to success.
So that was some of the lessons from the book rich dad poor dad book.
Conclusion
if you are struggling financially now a days do follow these core principles in your life, i am sure it will help you a lot on the way to financial freedom.
Always struggle for having passive income, that type of income for which you give your energy and time only once, and then it gives you fruits for the rest of your life
For example real estate, having a website, creating a YouTube channel these are some of the passive income which you must try to be financially secure but i am saying again it won't be easy.
So work hard, Do not wait for the perfect moment, take the moment and make it perfect, be consistent and i am sure one day you will be successful in achieving your goal.
Thank you so much for your time, if you have any queries feel free to leave a comment and don't forget to subscribe our email subscription, also follow us on Facebook for daily guide lines.
For more lessons from books click on the "Lessons" Below.
For more lessons from books click on the "Lessons" Below.
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