Synopsis
Book name: The rich dad and the poor dad
Writer name: Robert Kiyosaki
The book teaches people how to invest their money. In that book, the writer describes the decision to use the money of two dads. One of them is a rich dad, and the other is a poor dad. The book says that you have to first pay yourself, which means you have to spend your time educating yourself, and the purpose of that learning is not earning. The writer suggests that you need to take courses for learning and invest money in learning. The most important thing that I learn from this book is that the rich invest money and make profit from it; on the other hand, the middle class invests money where they will not get any profit, but they think that they will get profit, and the poor don’t invest money except to spend. Another amazing thing the writer says that the poor always spend more than their income, and they pay all of their money for renting houses, taking loans, etc. because they don’t have knowledge of how to use the money properly, and our formal education does not give any knowledge about how money works. When a child asks the poor dad how to earn money, the poor dad says that you need education to earn more money, and he suggests that the child study more and take a degree so that he can earn more. On the contrary, the rich dad says that if you want to earn more, you need to acquire skills. Rich Dad always gives advice on taking courses to acquire skills. The book also says that enjoying saving money will stop you from earning more money. One of the reasons of being poor mentioned in the book is that people do not work for themselves; they do work for someone else. Another reason for being poor is that people don't want to take risks because they think that they are financially backward. Another important characteristic is that the rich buy luxury products last, while the poor and middle class buy them first. The writer also says that every man has potential, but one thing always stops us from doing our work, and that is our self-doubt. The most important thing we all have is our mind; if it is used properly, it can create vast wealth. The rich father believes I can't do it; shutting off the brain and possibilities rather than how I can afford it. The most important sentence I like to share in the book is that the writer says that the poor and middle class work for money but the rich have money and that is working for them.
Some quotes from this book are:
1.The single most powerful asset we all have is our minds.
2.The rich create money.
3."Great opportunities are not seen with your eyes. They are seen with your mind."
4. Start invest money in income producing asset
5. The prelimentary reason for being poor and middle class are conservative to invest money. They Want to play safely.
6. Realise that if you want someting then you need give something at first.
7. Think big to get rich because small thinkers can not get the big prize
8. Read and learn from history because event always repeats itself.
9. Action always defeats inaction
10. The People who stay away from failure also avoid success
