Robert Kiyosaki’s Rich Dad Poor Dad is a book most financially literate know about, it’s often known as the initiation to the concept of financial literacy. Here’s a summary of two important concepts covered in Rich Dad Poor Dad:
1. Risk Taking
Risk taking is often what differentiates the middle class from the upper class, it’s important to learn how to take calculated, logical risks. It’s essential to understand the difference between a gamble and a calculated risk, people often confound the two, calculated risks make you successful, gambles make you poor.
To paraphrase Robert Kiyosaki, it’s essential to learn to make money work for you, rather than always working for money. The general idea is that by first working for money, you set yourself up for a future where you don’t have to work for money, but money works for you, producing more of itself and fully utilizing the magical powers of compound interest!
The latter two concepts are wholly essential to becoming financially free, of course, the gravity of risks and the type of investments can vary depending on your goals. Mainly, you must know that these aspects can be used to your advantage.
If you’re interested in starting your journey to financial independence and success, I highly recommend picking up Rich Dad Poor Dad, here’s an affiliate link to purchase it on Amazon, you would be supporting me too!
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
If you’d want to learn more about achieving goals and fighting a lack of motivation, I highly recommend Grant Cardone’s The 10X rule, please feel free to purchase it using this Amazon affiliate link in order to support me as well!
The 10X Rule: The Only Difference Between Success and Failure