My Dad

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The biggest financial lesson to learn is that it’s all about how much money you keep, not how much you make. And without financial literacy, you’ll lose your money soon. Before you win, you lose. Like all those times you fell off a bicycle before you learned how to ride it. Before people became rich, they lost money. Most people are more afraid of the pain of losing money than the happiness of becoming rich. Robert’s rich dad taught him to be charitable. His poor dad taught him to give away his time and knowledge, but not money.

This book looks great. I love the illustrations. Very fitting with Fathers Day around the corner. Great review. Growing up, poor dad recommended that Robert read books while rich dad recommended that Robert master financial literacy. Robert shares, “If you are going to build the Empire State Building, the first thing you need to do is dig a deep hole and pour a strong foundation. If you are going to build a home in the suburbs, all you need to do is pour a six-inch slab of concrete. Most people, in their drive to get rich, are trying to build an Empire State Building on a six-inch slab.” The strategy of the average person is: “Work hard, save, and borrow.” But instead of working hard, they should aim to improve their financial intelligence so that they can make more money. The people who get rich the fastest are those who realize that money isn’t real. Businesses that do not require my presence. I own them, but they are not managed or run by other people. If I have to work there, it’s not a business. It becomes my job.

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The biggest challenge poor people have is knowing the difference between an asset and a liability. Knowing the difference between the two can help you become rich. Robert Kiyosaki’s friend Blair Singer shares, “Sales = Income. Your ability to sell– to communicate and position your strengths– directly impacts your success.” When Robert Kiyosaki had quit his high-paying job, his poor dad had a heart to heart talk with him, failing to understand his mindset for quitting.

Ooo this is one that we haven’t read and I love the look of it - the illustrations particularly. Thanks for the heads up Kirsty -adding this to my list! Wealth is a person’s ability to survive so many number of days forward– or, if I stopped working today, how long could I survive?” It’s not gambling if you know what you’re doing. It’s gambling if you’re just throwing money into a deal and praying.” Your destiny relies on how you spend your money and your time. Your family’s future will be determined by your choices today.McDonald’s founder, Ray Kroc, wanted the land underneath every McDonald’s location for free with every franchise he opened It all came about by accident. In 2000, my parents decided to retire. They found the last book, Shattered, a huge struggle. By then, my mother hadn't been well for years and they were living in the West Indies. I was eight when their first novel, Dead Cert, was published in 1962. They celebrated by buying a new car. The next novel was published in 1964, there were two in 1965, then one every year for the rest of the millennium. Don’t dip into your savings when pressure builds. Use the pressure to find new ways of making more money. Protection from lawsuits: The rich use corporations to protect their assets from creditors, whereas the poor and middle class try to own everything themselves.

Compare to some other books about fathers, for example; Some Dogs Do by Jez Alborough, Danny the Champion of the World by Roald Dahl. Rich people acquire assets. The poor and middle class acquire liabilities they think are assets,” rich dad says.

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Transitioning from the mindset of “I can’t afford it” to “How can I afford it?” forces you to think instead of letting yourself off the hook. Rich dad also shared how happy he was that Robert Kiyosaki got angry. He said, “anger is a big part of the formula, for passion is anger and love combined.” Fear is what controls employees that causes them to exploit themselves. The biggest fear for aging Americans is running out of money before they die. When you add up health costs and long-term nursing home care, it’s quite likely that the average American will run out of money during their retirement. Compare this book with My Mum by Anthony Browne. How has the author changed the structure? Why do you think he has done that?

They got a four-seater aeroplane, which they used as an air taxi, a nicer boat and started travelling more. In 1967, my father bought my mother a dark blue MGB GT sports car for her birthday. After three years of hard work, his real estate business was making more than he was at Xerox. His company bought him his first Porsche. His coworkers had no idea that he wasn’t spending his commissions on the Porsche but assets. Libro que muestra la figura paterna a través de, me imagino, casi todos los niños... Al mismo tiempo nos muestra otra historia dentro de las imágenes súper geniales que ya son costumbres en los libros de Anthony Browne: Un detallazo en los colores y en los patrones similares al color de la bata del padre.Robert Kiyosaki shares, “Most people never win because they’re more afraid of losing. That is why I found school so silly. In school, we learn that mistakes are bad, and we are punished for making them. Yet if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk.” Rich dad regularly told the two teens, “An intelligent person hires people who are more intelligent than he is.”