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Christopher Jones
Christopher Jones

Download Rich Dad Poor Dad PDF and Learn the Secrets of Wealth Creation


Rich Dad Poor Dad: A Book Review




Rich Dad Poor Dad is a book by Robert Kiyosaki that has sold over 32 million copies worldwide. It is one of the most popular personal finance books of all time. The book tells the story of how Kiyosaki grew up with two fathers: his biological father, who was highly educated but poor, and his best friend's father, who was a dropout but rich. Kiyosaki learned different lessons from each of them about money, investing, and business. He shares these lessons in the book, along with his own insights and advice on how anyone can achieve financial freedom.




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In this article, we will review the main points and lessons from each chapter of the book. We will also provide some HTML formatting elements such as headings, lists, tables, bolding, hyperlinks, etc. to make the article more visually appealing and easy to read.


Lesson 1: The Rich Don't Work for Money




The first lesson that Kiyosaki learned from his rich dad was that the rich don't work for money. They make money work for them. He explains that most people are trapped in the rat race of working hard for a paycheck, paying bills, saving a little, and then repeating the cycle. They are driven by fear of not having enough money and greed of wanting more money. They never get ahead because they don't understand how money works.


To break free from the rat race, Kiyosaki says you need to learn how to make money work for you. You need to invest in assets that generate passive income, such as real estate, stocks, bonds, businesses, royalties, etc. You need to overcome your fear and greed and take calculated risks. You need to educate yourself and seek opportunities that others don't see.


Lesson 2: Why Teach Financial Literacy?




The second lesson that Kiyosaki learned from his rich dad was that financial literacy is the key to wealth. He defines financial literacy as the ability to understand the difference between an asset and a liability, and to build your asset column. He says that most people are financially illiterate because they don't know how to read financial statements, such as income statements and balance sheets. They also confuse assets with liabilities, and end up buying things that take money out of their pockets instead of putting money into them.


For example, Kiyosaki says that your house is not an asset, but a liability. It costs you money every month in mortgage payments, taxes, maintenance, etc. It only becomes an asset when you sell it for more than you paid for it. However, most people never sell their houses, or they buy bigger and more expensive houses that increase their liabilities. The same goes for cars, clothes, gadgets, and other consumer goods that lose value over time.


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To become financially literate, Kiyosaki says you need to learn how to read financial statements and understand the difference between income, expenses, assets, and liabilities. You need to build your asset column by investing in things that produce income for you, such as rental properties, businesses, stocks, bonds, etc. You need to reduce your expenses by living below your means and avoiding unnecessary debt. You need to increase your income by developing your skills and creating more value for others.


Lesson 3: Mind Your Own Business




The third lesson that Kiyosaki learned from his rich dad was that you should mind your own business instead of working for someone else's business. He explains that most people work for three types of bosses: their employer, the government, and the bank. They spend their lives working hard to make money for their bosses, but they never make enough money for themselves. They are employees who trade their time for money, or self-employed who own their jobs but not their businesses.


To mind your own business, Kiyosaki says you need to become a business owner or an investor. You need to create or acquire assets that generate income for you without your active involvement. You need to create multiple streams of income from different types of assets, such as real estate, stocks, bonds, businesses, royalties, etc. You need to leverage other people's money, time, and expertise to grow your business and increase your returns. You need to take advantage of tax laws and legal structures that protect and enhance your wealth. Lesson 4: The History of Taxes and The Power of Corporations




The fourth lesson that Kiyosaki learned from his rich dad was that taxes were originally created for the rich and that corporations are legal entities that protect and enhance your wealth. He explains that taxes were first introduced in England in 1874 to fund the war against Napoleon. They were supposed to be temporary, but they never went away. They were later adopted by the US and other countries, and they gradually increased over time. They were designed to tax the income of the rich, but they ended up taxing the income of the middle class and the poor.


To avoid paying high taxes, Kiyosaki says you need to use corporations as your vehicles for wealth creation. He says that corporations are legal entities that are separate from their owners. They have their own rights, privileges, and liabilities. They can own assets, borrow money, sue and be sued, and pay taxes. However, they can also deduct expenses, depreciate assets, defer taxes, and shelter income. They can also pay dividends, salaries, bonuses, and benefits to their owners and employees.


By using corporations, Kiyosaki says you can reduce your tax burden and gain more control over your money. You can pay yourself as little or as much as you want, depending on your tax strategy. You can reinvest your profits into your business or other assets without paying taxes until you sell them. You can also protect your assets from lawsuits and creditors by holding them in different corporations.


Lesson 5: The Rich Invent Money




The fifth lesson that Kiyosaki learned from his rich dad was that the rich invent money. He means that the rich use their creativity and imagination to create opportunities that others don't see. They don't wait for money to come to them, they go out and make it happen. They don't depend on the economy, the market, or the government, they create their own economy, market, and government.


To invent money, Kiyosaki says you need to develop your financial intelligence and learn new skills. He defines financial intelligence as the combination of financial literacy (the ability to read numbers), financial strategies (the ability to make plans), and financial experience (the ability to take action). He says that you need to learn how to find problems, solve them, and make money from them. You need to learn how to raise capital, negotiate deals, manage risk, and exit gracefully.


Kiyosaki also says you need to use the power of compounding and leverage to multiply your money. He explains that compounding is the process of earning interest on interest, which results in exponential growth over time. He says that leverage is the ability to do more with less, such as using other people's money, time, or expertise to achieve your goals. He says that by combining compounding and leverage, you can create massive wealth in a short period of time. Lesson 6: Work to Learn, Don't Work for Money




The sixth lesson that Kiyosaki learned from his rich dad was that you should work to learn, not work for money. He explains that most people work for money because they need it to survive and pay their bills. They don't work to learn new skills or knowledge that will make them more valuable and marketable. They get stuck in jobs that they don't like or enjoy, and they don't grow or improve themselves.


To work to learn, Kiyosaki says you need to acquire valuable skills and knowledge that will make you more money in the future. He says that you should not rely on a job for security or income, but use it


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