Rich Dad Poor Dad for Teens: The Secrets about Money--That You Don't Learn in School!

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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.” Don’t dip into your savings when pressure builds. Use the pressure to find new ways of making more money.

A young woman who dreamed of going to the Olympics would swim every morning for three hours before going to school. She also spent her weekends studying to maintain high grades. When asked why, she responded, “I do it for myself and the people I love. It’s love that gets me over the hurdles and sacrifices.” Numerical intelligence If you're one of those people who can do a math problem in your head, circle 5. This intelligence is found in people who easily grasp data and numbers. They're also usually calm and rational thinkers. Rich Dad Q&A What do learning styles and winning formulas have to do with getting rich? I'll bet a lot of people who are voted "Most Likely to Succeed" every year in your school yearbook are the people with the best grades. While some of those people will eventually become successful, some of them may not. And it may very well be because they never learned financial intelligence. Many of them will be surpassed in wealth by people like you who are determined to find financial freedom. Discovering your learning style and your personal genius is the first step to having confidence-confidence that allows you to see and pursue opportunities, and to take risks. This is a GREAT book! I can definitely say it changed my life and they way I look at money and finances. For example, my husband and I bought investment properties after I had him read it as well. It is very easy and interesting to read. READ IT! READ IT! READ IT! Create a budget – Start by creating a budget that outlines your income and expenses. This will help you understand how much money you have coming in and going out each month.Rich Dad, Poor Dad is really about encouragement to invest in yourself early and often in one’s life. For that, I applaud Mr. Kiyosaki as doing this will absolutely make a difference in your life. Diversification—Building a diverse portfolio of assets can help mitigate risk and provide a more stable foundation for long-term financial growth. When it comes to financial education, you need to know the difference between good debt and bad debt. Analyze instead of criticizing. As teenagers, Mike and Robert would work with their rich dad. They studied how he held meetings with his bankers, attorneys, accountants, investors, so forth. Even though his rich dad had left school at 13, he was now directing some very educated people.

Adopting a rich mindset requires developing a positive, proactive attitude toward money and financial success.

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In his book, Kiyosaki reveals that he had two fatherly perspectives while growing up. His biological father maintained an attitude towards money that kept him struggling financially throughout his life. His friend’s father, who he spent a lot of time with, held a different perspective, and ultimately prospered. The two men regarded money differently, which caused young Robert to compare and ponder the different things each dad taught. In doing so, he had to choose which path to follow, rather than just blindly accept what he learned. He applied these principles in his life, and, like his rich dad, prospered financially. As a teenager, Robert realized he had more financial literacy than his poor dad as he was able to keep books and spent a lot of time listening to bankers, tax accountants, real estate brokers, and others like them. Robert Kiyosaki retired at the age of 47. He still works, but for him and his wife, Kim, working is an option as their wealth will continue to grow automatically. Not even the rich, like losing money. No one does really. Rich dad says, “Some people are terrified of snakes. Some people are terrified of losing money. Both are phobias.” That’s why it was so crucial for Robert’s rich dad to teach his two sons how to take risks at a young age. The younger you are, the easier it is to become rich.