RICH DAD- POOR DAD

• https://ia904501.us.archive.org/4/items/rich-dad-poor-dad_202106/Rich%20Dad%20Poor%20Dad.pdf
• For example, one dad had a habit of saying, 
• “I can’t afford it.” The other dad forbade those words to be used. He insisted I ask, 
• “How can I afford it?” One is a statement, and the other is a question.
• There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.
• Robert Frost is my favorite poet. Although I love many of his poems, my favorite is 
• “The Road Not Taken.” I use its lesson almost daily.
• The Road Not Taken 
• Two roads diverged in a yellow wood, 
• And sorry I could not travel both 
• And be one traveler, long I stood 
• And looked down one as far as I could 
• To where it bent in the undergrowth; 
• Then took the other, as just as fair, 
• And having perhaps the better 
• Because it was grassy and wanted wear 
• Though as for that the passing there 
• Had worn them really about the same, 
• And both that morning equally lay 
• In leaves no step had trodden black.
• Oh, I kept the first for another day! 
• Yet knowing how way leads onto way,
•  I doubted if I should ever come back.
•  I shall be telling this with a sigh 
• Somewhere ages and ages hence;
•  Two roads diverged in a wood, 
• and I— I took the one less traveled by
• , And that has made all the difference.
•  And that has made all the difference.
• Money is one form of power. But what is more powerful is financial education. Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.
• The poor and the middle class work for money.
•  The rich have money work for them
• My father was just leaving as I said that. “Boys,” he said. “You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something. I’m very proud of the two of you. I will say it again: Keep going. Don’t quit.”
• Okay, here’s my offer. I’ll teach you, but I won’t do it classroom-style. You work for me, I’ll teach you. You don’t work for me, I won’t teach you. I can teach you faster if you work, and I’m wasting my time if you just want to sit and
• listen like you do in school. That’s my offer. Take it or leave it.”
• “But that is not how life teaches you, and I would say that life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying, ‘Wake up. There’s something I want you to learn.’”
• “Life pushes all of us around. Some people give up and others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something. They learn and move on. Most quit, and a few like you fight.” 
• r. “If you learn this lesson, you will grow into a wise, wealthy, and happy young man. If you don’t, you will spend your life blaming a job, low pay, or your boss for your problems. You’ll live life always hoping for that big break that will solve all your money problems.
• “This,” he said, leaning forward in his chair and tapping me gently on the head. “This stuff between your ears.”
• You see, true learning takes energy, passion, and a burning desire. Anger is a big part of that formula, for passion is anger and love combined. When it comes to money, most people want to play it safe and feel secure. So passion does not direct them. Fear does.”
• Lesson #1: The Rich Don’t Work for Money
• People’s lives are forever controlled by two emotions: fear and greed.
• . “I’ve met so many people who say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day. That’s a denial of truth. If they weren’t interested in money, then why are they working? That kind of thinking is probably more psychotic than a person who hoards money.”
• “What intensifies fear and desire is ignorance. That is why rich people with lots of money often have more fear the richer they get. Money is the carrot, the illusion. If the donkey could see the whole picture, it might rethink its choice to chase the carrot.”
• s. A doctor, wanting more money to better provide for his family, raises his fees. By raising his fees, it makes health care more expensive for everyone.
• . History proves that great civilizations collapse when the gap between the haves and have-nots is too great. Sadly, America is on that same course because we haven’t learned from history. We only memorize historical dates and names, not the lesson.”
• Yes,” said rich dad. “The briar patch is our fear and greed. Confronting fear, weaknesses, and neediness by choosing our own thoughts is the way out.”
• Rich dad went on to explain that a human’s life is a struggle between ignorance and illumination.
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• Rich dad stood and shut the creaky old wooden window that needed repair. “If you learn this lesson, you will grow into a wise, wealthy, and happy young man. If you don’t, you will spend your life blaming a job, low pay, or your boss for your problems. You’ll live life always hoping for that big break that will solve all your money problems.”
•  History proves that great civilizations collapse when the gap between the haves and have-nots is too great.
• That’s the first step.” “Why is that step so important?” I asked. “Well, that’s up to you to find out. If you want to learn, I’ll take you boys into the briar patch, a place almost everyone else avoids. If you go with me, you’ll let go of the idea of working for money and instead learn to have money work for you.” “And what will we get if we go with you. What if we agree to learn from you? What will we get?” I asked. “The same thing Brer Rabbit got,” said rich dad, referring to the classic children’s story. “Is there a briar patch?” I asked. “Yes,” said rich dad. “The briar patch is our fear and“Yes,” said rich dad. “The briar patch is our fear and greed. Confronting fear, weaknesses, and neediness by choosing our own thoughts is the way out.”
• When I asked her what she did with the comic books, she said, “I throw them away. I give the top half of the cover back to the comic-book distributor for credit when he brings in the new comics. He’s coming in an hour.”
• It’s not how much money you make. It’s how much money you keep.
• It’s like planting a tree. You water it for years, and then one day it doesn’t need you anymore. Its roots are implanted deep enough. Then the tree provides shade for your enjoyment.
• Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
• Rule #1: You must know the difference between an asset and a liability, and buy assets.
• Rich dad believed in the KISS principle—Keep It Simple, Stupid (or Keep It Super Simple)—so he kept it simple for us, and that made our financial foundation strong.
• An asset puts money in my pocket. A liability takes money out of my pocket.
• This is the cash-flow pattern of an asset:
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