Education gives you freedom. Financial education gives you financial freedom.
Robert Kiyosaki’s Rich Dad Poor Dad has created an amazing impact on the entrepreneurs and on those who had dreams, but no ideas to be free from debts and make a happy living.
To let you know, Robert Kiyosaki is a famous American Author, Investor and a motivational speaker who has helped thousands of people to build their businesses and achieve financial success.
In the book, which is one of the best personal finance classic, Robert explains his experience from life spent with his ‘Poor Dad’ – Real dad who spent his entire life paying bills and the ‘Rich Dad’ – (father of his friend Mike) the one who had little money to start, ended up being a richest man in Hawaii.
The book does not talk about poor or rich people, but instead what mindset and approach made one Rich and the other poor. Because it’s not the amount of money that defines whether an individual is rich or poor, but their habits, philosophy, thoughts and actions plays an important role.
Let’s discuss five things that you can learn from Rich Dad Poor Dad, which (for sure) your school won’t teach you.
Work To Learn and Not To Earn
Learning is a crucial part of success if you wish to become financially independent. Never stop learning. In the book, Job Security meant everything for Poor dad (educated dad) and learning meant everything for Rich dad.
Add a new culture of learning mindset and see the difference in approach of life.
Earning is not difficult in 2019, but having a mindset of learning everytime is not very common because people tend to settle themselves at the early 20s so they have a secured life in future. But what would happen if there’s another economic depression? What will happen to their jobs, hence learning to build other skills and other ways of income will really benefit in the upcoming years.
The Rich never Works For Money… instead, money Works for Them.
The common misconception we all have is that the rich works for money. But it’s a lie. The rich always works for solution of any situation or problem and the money works for them. Most of us, spend our time to determine how much money we are going to make by selling this particular thing, rather than determining the value we provide in return.
If we focus on the value part and keep on improving so our customers gets the experience they expect, they will readily spend their money to buy our product. Hence, the money will work for us and not the vice versa.
“…For many people School is the end. Not the BEGINNING.”
People with rich mindset think differently than any common mindset. For majority of people, school is the end of everything and its time to hunt for the job their parents wanted him to do or he dreamt of. But they fail to understand that school is not the end but instead it is just an end of the structured way of living.
Life after school is pretty unstructured and that is the real test. People who start on their own has to face more challenges than those who rely upon others to seek employment or achieve freedom. But the rewards for self dependent people are similar to the risks they have taken, ie, very huge!
Mind your Own Business
Ultimate advice for anyone who wants to start a business, whether an online business in 2019, is that they should mind their own business and not bother about what others are saying.
However, listening to advices, critics is a crucial part of any business which helps in improving services. But depending solely on others opinions will lead to something which you have never imagined and it may or may not produce the expected results. So, mind your own business and focus 100% on your work. Even if you fail that’s alright, work hard and smart to determind the problems and then see how you can improve it but do not stop.
Build Your Assets, Not Income.
Rich Dad Poor Dad teaches us about building assets and not liabilities. If you keep focusing on earning too much from your work, it won’t make any difference, because if you don’t know how to use it you’ll most likely end up spending more from your bank account.
So, building multiple streams of income and assets is a crucial part to become financially independent. Assets could be in the form of real estate, stocks, mutual funds, gold or your business that helps in securing your money and multiplying it in the upcoming future. But it is seen that people spend mostly on utilities, items, products they don’t really need to show how moder savvy they are, which is just a show-off usually.