Rich Dad Poor Dad is one of those books that everyone around sais that you should read, and after I have read it I can say for sure in that case they were right. This book has made a lot of people change their mind and perception on money and motivated them to succeed. The book deals with this subject, and also in two important subjects as well: The first is what generally you should learn and how to implement it in order to succeed financially, and the second discusses finanacial education to adults and also to children in order to learn what we haven't learnt in school.
The story of this book is about a young boy who was educated on their knees of two fathers: One is his biological father that was educated and worked for his living as accepted- he was the 'Poor dad'. The second was his good friend's father, and has become a kind of a guru for the author, and was called by him the 'Rich dad'. This rich dad is a business man in many areas like real estate and shops, that in the days to come was one of the wealthiest men in the U.S. The principles of education and thinking the author absorbed from the rich dad, wants to pass to us through this book.
The book contains two sections: In the first one the author brings stories and experiences that designed his general outlook. Based on these stories he put up six lessons in this section in an orderly manner. In one central lesson the author deals in the distinction between properties and commitments. according to this, in order for you to know how to arrange your steps right, you have to make a list of all the things that you hold: apartment, car, clothing etc. after that, divide these to properties which bring to increase in the revenues clause and to commitments which bring to increase in your expenses clause. This distribution is not always simple as it seems to be. For instance, possession on apartment is a kind of property that can lead to prominent expenses on mortgage, maintenance etc. According to that distinction, the rich dad would want to reduce his commitments, and add as much more properties in many kinds, such as stocks, real estate etc, that would bring to increase in the current income. In other lesson with the title: 'work to learn- Don't work for the money', the author emphasise the importance of studying and acquiring financial reading skills.
In this lesson the author mentions that the knowledge about the varied properties, their tax regulations and the way to achieve them is much more important than actually accomplish them. In our days people still don't recognize the importance of financial knowledge as a source for creating opportunities for the future generation. There for, he raises some points to think about in the case of financial education that we should provide to our children from small age. That kind of education will make it possible for children to think creatively and will give them the tools to recognize the opportunities that will occur them. The most important fact is that thanks to these fundamentals education, people will not have to live in anxious from lack.
In the second section of this book that called 'How to start?', the author gives some tools and tips that can be used for implementing those lessons. These tools give direction and less practical guidance. Still, they give motivation to do something with it. One point for example the author mentioned in this section, is that you better learn not only from books and seminars, but also from specialists that we all meet in the daylife, such as bankers, accountants, real estate consultants and others. You can consult with them and extract information and an important knowledge that can lead you forward financially. Other point mentioned is to develop three management skills that can be implement in almost anything and especially in establishing a business: Cash flow management, People management and personal time management. The author naturally don't specifies those skills s that he displays, although he stimulates the mind to read and learn more on these subjects in order to know more and maybe to succeed in emplementing them achieving economic profits.
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