Words Of Wisdom From The Book ‘Rich Dad, Poor Dad’
INVESTOPAPER
‘Rich Dad, Poor Dad’ is one of the popular books on personal finance authored by Robert Kiyosaki. It emphasized on the need to be financial literate in order to be financially free.
Here are some of the words of wisdom taken from the book. Hope it is useful.
Important Excerpts From ‘Rich Dad, Poor Dad’
“To be a successful business owner and investor, you have to be emotionally neutral to winning and losing.”
“The poor and the middle class work for money. The rich have money work for them.”
“An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.”
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”
“Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.”
“Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep.”
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.”
“Always start at the end before you begin. Professional investors always have an exit strategy before they invest. Knowing your exit strategy is an important investment fundamental.”
“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”
“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”
“Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit.”
“Job is an acronym for ‘Just Over Broke.’”
“It is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.”
“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.”
“Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is part of the process of success. You cannot have success without failure.”
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