10 Fabulous facts from the book RICH DAD POOR DAD

    Welcome to my Rise Your Knowledge blog, where we will examine the ten amazing facts found in Robert Kiyosaki and Sharon Lechter's book RICH DAD POOR DAD.

1.The Rich Don’t Work for Money





2. It’s Not How Much You Make, But How Much You Keep



  • The retention principle: Earning more doesn't guarantee wealth. What truly builds wealth is your ability to save, invest, and preserve income across generations.

  • “It’s not how much money you make; it’s how much you keep, how hard it works for you, and how many generations you keep it for”

  • Reference

  • samuelthomasdavies.com+2debtfreedr.com+2fincart.com+2.

3. Financial Education Is Essential



4. Assets vs. Liabilities: Know the Difference



  • Definitions:

    • Asset: Anything that brings money into your pocket (e.g., rental properties, businesses, stocks).

    • Liability: Anything that takes money out (e.g., personal home mortgages, car loans, credit card debt)

    • Reference

    • debtfreedr.com+10richdad.com+10clickup.com+10.

  • Misunderstandings abound: Many mistakenly think a personal residence is an asset, but if it's a financial burden, it's a liability 

  • Reference

  • fr.wikipedia.org.

5. Mind Your Own Business



  • Asset-building focus: Prioritize growing your financial portfolio—businesses, investments—rather than relying solely on job income .

  • Shift your energy from “How can I earn more?” to “What assets am I creating?”

6. Work to Learn, Not Just to Earn



  • Skill development: Seek employment opportunities for the knowledge they provide—sales, marketing, financial insights—rather than just a salary .

7. Pay Yourself First



  • Financial discipline: Automatically direct a portion of your income into savings and investments before spending on bills or lifestyle .

8. Take Calculated Risks and Overcome Fear



9. Learn from Failure: See Opportunity



  • Resilience mindset: Treat setbacks as valuable lessons rather than disasters. Analyze what went wrong, adjust, and try again .

  • Opportunity lens: Kiyosaki asserts that "obstacles are opportunities in disguise"

  • Reference

  • fincart.com+5popai.pro+5investopedia.com+5.

10. Develop an Abundance (Growth) Mindset




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