Top 5 Learnings from 'Rich Dad Poor Dad' Book by Robert Kiyosaki

Hello friends, today we will talk about a very popular book named 'Rich Dad Poor Dad' . This book is written by the American businessman, 'Robert Kiyosaki'.

It was first published in 1997 and till now have sold more than 3 Cr copies . This book is so popular because it tells about money to the middle class which was not taught in their upbringing,. He had talked about 2 fathers, one his own who had a PhD, which is the poor dad . And the other is his best friend's father who is a businessman and is the rich dad.

Though this book has many learnings, but we will cover the top 5 learnings which we feel are the best. So let us start :

Learning (1) :

So the first one is not to run away from challenges rather to find opportunities in them. In middle-class families, kids are told that we cannot afford this which leads them to believe that a lot is out of there reach.

On the other hand, rich kids are taught that if they want something, how can they afford it. So if you say that you cannot afford something, you kill yourself all its opportunities and stop thinking about it. If you start thinking that how can you afford it, then your mind automatically starts to make way and then you create opportunities yourself and you create wealth too.

Learning (2) :

The second learning is what is your net worth and how much you earn Robert Kiyosaki said that even though his father was a Ph.D. He didn't use to have money by month-end.

On the other hand, the rich dad in the book, who was not even a high school graduate had all his focus on acquiring assets and retain all info

Assume that you earn 1 lakh and save only 5% and keep it in the savings account. Whereas your friend earns 50,000 and saves 20-30% and uses it to acquire assets . So he has a higher potential of making more wealth than you. You should focus on saving and acquiring assets

Learning (3) :

The third learning is to take risks. Kids in middle-class families are always encouraged not to take risks and especially in money matters. He says that you should learn to live with risks . Because if you want to create wealth, you need to take calculated risks

And as you start accumulating wealth, you will learn how to manage risks . The middle-class people are generally scared of taking risks because they don't have the capacity to bear loss . The rich are not scared of making mistakes, rather they learn and do not repeat the mistake

Learning (4) :

The fourth learning is that we all should educate ourselves in personal finance . According to Robert Kiyosaki, we should know these 4 things about personal finance.

The first being basic accounting so that we can read the financial statements of companies. The second is investing so that we can grow our money, the third being one should know the basics of the financial markets and the fourth is tax so that we can protect what we earn

It is seen that the rich start losing their wealth gradually due to the lack of financial education.

Learning (5) :

The fifth learning is that you cannot work for someone for a lifetime and create wealth . The employee trades his time for a monthly salary and the employers try to take out worth more than he pays . Rich Dad Poor Dad tells us how one earns less than their potential in a job.

So when you do a business and work for yourself, their is no ceiling on your income. More you will earn, the more you will be able to save and the more you save more you can invest and the more you invest, the more you will be bale to acquire assets.

So this was an Complete Overview of 'Top 5 Learnings from the Book "Rich Dad Poor Dad" by Robert Kiyosaki. Hope you’ll like it. If this article really found helpful to you then must share it with your friends and family members !!