Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki

One dad said, “The reason I’m not rich is because I have you kids.” The other

said, “The reason I must be rich is because I have you kids.”

“A nice car and a nice house don’t necessarily mean you’re rich or you know how to make money,” my dad replied.

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.”

The poor and the middle class work for money. The rich have money work for them.

???

Buying or building assets that deliver cash flow is putting your money to work for you.

“And how did you feel when Mrs. Martin dropped three dimes in your hand for three hours of work?” “I felt like it wasn’t enough. It seemed like nothing. I was disappointed,” I said. “And that is how most employees feel when they look at their paychecks—especially after all the tax and other deductions are taken out. At least you got 100 percent.”

True. Disappointed

I’ve seen this play out over and over in my life: When emotion goes up, intelligence goes down.

“Stop blaming me and thinking I’m the problem. If you think I’m the problem, then you have to change me. If you realize that you’re the problem, then you can change yourself, learn something, and grow wiser.”

Rich dad believed in the KISS principle—Keep It Simple, Stupid

When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.

“It’s not how much money you make. It’s how much money you keep.”

Businesses that do not require my presence I own them, but they are managed or run by other people.

Left-hemisphere moment: When assets generate enough income to cover luxuries, that’s when you can buy them.

“Once a dollar goes into it, never let it come out. Think of it this way: Once a dollar goes into your asset column, it becomes your employee. The best thing about money is that it works 24 hours a day and can work for generations.”