September 23, 2004

Money is Power - Richard Kiyosaki (Representative of Rich)


Rich Dad Poor Dad Posted by Hello
What can I say about the book 'Rich Dad Poor Dad' by Richard Kiyosaki? What the rich teach their kids about Money--that the Poor and the middle class do not! Richard talked in length about the six most important lessons and four very sensible techniques that one has to learn to be rich. Not every lesson in my view is worth a reading. Each lesson is compiled as a chapter. Rich do not work for money but let money work for them is the first lesson in which he put a great effort to impress the reader. I am impressed with the third lesson that is titled 'Mind your own business'. This lesson explains how a profession is different from business. He stresses everyone to have a business irrespective of the profession. 'Rich invent Money' is yet another lesson that is quite impressive. It is all about differentiating between assets and liabilities. I cannot forget the way he concluded. Here it is. I had a privilege to acquire skills from two dads. One dad is a super capitalist who knows the game of money making money. Other dad is a teacher always worried about the widening gap between haves and have nots. I blame the archaic educational system for all this because schools have not learned to teach about making money.
He explained the techniques of inventing money. The techniques are Financial Literacy (ability to read numbers), Investment Strategies (Science of investment), Markets (Demand and Supply)and Law (Accounting, Judiciary etc). Richard Kiyosaki tried his best to explain the skills that are necessary to become rich. What does money mean to you? Financial literate says that MONEY IS POWER. Poor Dad said that money is nothing.

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