Rich Dad Poor Dad - Words of Wisdom

Does school prepare children for the real world? "Study hard and get good grades and you will find a high-paying job with great benefits," my parents used to say.

In his Rich Dad Poor Dad he explains The Big Idea,

FINANCIAL LITERACY = FINANCIAL INDEPENDENCE

He talks about two dads; one is highly educated professor while other one is uneducated (eight grade dropout). Dad who was highly educated left his family nothing but some unpaid bills. The dropout later becomes one of the richest men in Hawasii. The Rich Dad left his son an empire.

One Dad used to say, “I can’t afford it”, While the other asked, “How can I afford it?”

Learn through experience was the theory of Rich dad who teaches two boys the lesson on money which are priceless. The most important lesson of all is How to Use Your Mind and Time to create personal wealth. Free yourself from the proverbial “rat race”.

He explain rat race as below :

If you look at the life of the average-educated, hard-working person, there is a similar path. The child is born and goes to school. The proud parents are excited because the child excels, gets fair to good grades, and is accepted into a college. The child graduates, maybe goes on to graduate school and then does exactly as programmed: looks for a safe, secure job or career. The child finds that job, maybe as a doctor or a lawyer, or joins the Army or works for the government. Generally, the child begins to make money, credit cards start to arrive in mass, and the shopping begins, if it already hasn't.

He talks about:

• Learn to spot opportunities,
  
• Create solutions
  
• “Mind your own business”
• Learn to make money work for you
• And not be its slave

And here are the Rich Dad’s Words of Wisdom:

1. You are what you Think
2. A job is a short-term solution to a long-term problem
3. A highly paid slave is still a slave
4. Why climb the corporate ladder when you can own the ladder?

Thanks
Pradip