Rich Dad Poor Dad Detailed book Summary ! Why should we Read this ?

 Is Worth it To Read This 

The Bible of Finance

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

 

Does It sounds Odd Do not work for Money Let Money have work for You. These all secrets about the Financial facts are revealed in this book. Rich Dad Poor Dad, How awkward the name look but whole the mystery of the finance is in the pages of these books. This is all about an American Businessman Robert Toru Kiyosaki his journey from childhood till now he acquires the broad vision from his Rich 
Dad and Poor Dad. Robert Kiyosaki says that having two dads offered me the choice of contrasting points of view. Rich dad poor dad book was first published in the year 2000. Then after till now, over 32 million copies in more than 51 languages across more than 109 countries were sold. So you can judge how much demand this book has created. It is been New York Times bestsellers list for over six years.

🤔Which Thing make This book unique from others🤔

• If you want To become rich then don't go to school.

• It's not how much money you make. it's how much you keep

• Your home is not an asset it is a Liability.

• He who has GOLD always RULES.

• ESBI Model is a key to financial freedom

9 Secrets to becoming Millionaire in 9 Sessions

1. The Rich Don't Wook for Money.
2. Why Teach Financial Literacy?
3. Min your own business?
4. The History of Taxes and Power of Taxation.
5. The Rich invent Money
6. Work to Learn - Don't Work for Money

So let's Start With First Session:-

 Robert Kiyosaki has two dads one he called rich and the other called poor. One who is called as Poor by Robert Kiyosaki is a highly educated and intelligent person He has done Ph.D. also he went to Stanford University and WestNorthern University for the advanced study but at another side, his Rich dad has not finished till class 8 th. So why Robert called a highly educated dad as a poor dad and one who not cleared 9 th class called Rich Dad there How the education these two dads delivered to Robert Kiyosaki all is written in this book.

              Robert Kiyosaki says Rich Don't work for money. Poor Dad of Robert is a highly successful person in his life but he always struggles financially .on the other hand his Rich dad is a successful businessman and he is one of the Richest People in his town.When he left he has earned a lot of billions of dolloae and his next generation lived happily but when poor dad left only with the unpaid bills that there family has to pay.

The Poor and Middle-class work for Money 

but Rich money work for them.

2) Why to Teach Financial Literacy:

Robert says How much money you make that does not make sense but how much you keep that is important.

Rich Pople buys Assets while the Poor and Middle class buy Liabilities. But what mean Assets and Liability?

Assets:-    Things that put money in your pocket.

Liability:-  Things which take out money from your pocket.

We should increase our Assests column and should keep the Liability column as minimum as possible as 

3) Mind Your Own Business.

Ray Croc, Mcdonald's founder if I asked in what business is he. No doubt you will say he is in Hamburger's Business but actually, he is in Real Estate Business always looking for a location with the perspective of Real Estate Businessman. 

Today McDonald's is at Position 1 in the world from Real Estate Perspective.

This is bitter but fact -

             The majority of people spend their whole life for thinking and understanding some other businesses and that makes the businessman profit but these people only waste their time and creativeness.So

MIND YOUR OWN BUSINESS

4)History of Taxes and Power of Taxation

     Do you know Poor and Middle-class people pay more tax than Rich People? Why these taxes were used for taking money from the rich and gave it to the poor but indirectly money is withdrawn from the Poors Pocket. Rich Plays a smart game and pays less tax and this is the most secret of the people why they are actually rich.

5) Rich Invent Money:-

The majority of people work for money that not the path to became financially free. All the millionaires Invent Money that is key to freedom. like Bill Gates, Elon Musk, Mark Zuckerberg, Jeff Bezos, and many more.

 

6) Work to Learn ,Don't Work for Money:

We all people are trapped in the Rat Race, where we compete with others or get defeated.

Most people choose a job that is not for them. Their passion is something else but also they choose.
why should anyone do this? because they have unpaid bills at the month-end and the fear of bills makes the work like this. and this cycle continues month to month and year to year and this is called the Rat Race. One who gets out of this will be financially as well as socially free. 

7) Overcoming Obstacles:

Primarily the main difference between poor and rich people is how they manage their fear. Most people can not enjoy their financial life because they have more than fear of losing money than the joy of richness

8)Getting Started :

     There is GOLD and money everywhere in the world but most of people are not framed to see it. People say themselves when they have to achieve something that " I can't afford it " and shut up their brain but if they " How can I afford this " this statement opens the possibilities, dreams and excitement in our life.

9) How to achieve Financial Freedom:

In this world there are three types of income

1. Ordinanry Earned
2. Portfolio
3. Passive. 

     The majority of people go to school, get a degree from college then work under someone and in a company and earn an income from it this is called ordinary earned income.

  Portfolio income is an income that comes with paper assets like stocks, bonds, and other sources.

Passive income is the most important income if you got this then you can make money while sleeping also this income generates from digital assets and real estate management.

 Then Robert Kiyosaki tells about a key to achieve the freedom that is 

    ESBI Model

E stands for Employees and S for self-employees most of the population comes under these two and next is B for business owners and other is I stands for Investor.

All successful people who are really enjoying in true terms come from the B and I category.

so if you want to gain financial freedom in real terms then you should try to be in B and I category

So much important secrets are written in books to be free financially as well as socially. If you want to read more you can refer books below.

If you want more details then you can watch this video in Hindi summary of Rich Dad and Poor Dad.

• Refer Official book:-
• Click on Image

    Check Out the English book here:-

Checkout - Hindi Book here

----Fast Track Millionaire

(Nishant Patil)