Rich Dad,Poor Dad

" Rich Dad Poor Dad" book's overview. It is a starting point for anyone looking to gain control of their financial future.

Transcript

1. RICH DAD POOR DAD PRESENTED BY- Ashim Rana 4/15/2020 1 Ashim Rana
2. 4/15/2020 2 Ashim Rana
3. ✓ He's the founder of the Rich Dad Company. ✓ He has an estimated networth of $80 million.
4.  The book is largely based on Kiyosaki`s childhood upbringing and education in Hawaii. It highlights the different attitudes to money, work, and life of two men (i.e. “rich dad”and “poor dad),” and how they in turn influenced key decision in Kiyosaki`s life.  Kiyosaki`s personal story, upbringing and his business and investment ventures thoughts his early adult life and into the late 1990s.  What the rich teach their kids about money that the poor and middle class do not.  How stronger business and financial skills, aptitude and experience play a role in one’s financial success. 4/15/2020 5 Ashim Rana
5. The book is the story of a boy who has two fathers. Both fathers taught the author how to achieve success but with very different approaches Biological father The poor dad Friend's father The rich dad 4/15/2020 6 Ashim Rana
6. Poor dad believed in the traditional principles of: Poor dad :- • Working hard • Saving money • Not buying material,things that one cannot afford. 4/15/2020 7 Ashim Rana
7. Poor dad :- Poor dad looks to education as the passport to success. He held a Doctorate degree But he always struggled financially 4/15/2020 8 Ashim Rana
8. His poor dad worked hard incessantly but somehow never made it ahead financially. Poor dad :- 4/15/2020 9 Ashim Rana
9. Rich dad :- • Rich dad only studied till the 8th grade • Rich dad was very street smart 4/15/2020 10 Ashim Rana
10. Rich dad :- The author was nine years old that he started realizing that his rich dad made much more sense than his poor dad. It was from rich dad that the author learned not to say, “I can’t afford it” “how can I afford it?” but instead to ask 4/15/2020 11 Ashim Rana
11. THINKINGS OF RICH DAD AND POOR DAD :- ❑ Simply created investments. ❑ Struggled to save dollars.  RICH DAD :-  POOR DAD :- ❑“The Lack of money isroot of all evil.” ❑ How can I afford it? ❑ Study hard so you can find a good company to buy. ❑ Learn To Manage Risks ❑Money works for me. ❑ “The Love of money isroot Of all evil.” ❑ I Can’t affordit. ❑ Study hard so that you can find a good company to work for. ❑ When it comes to money, Play it safe, don’t takerisks. ❑I Work for money. 4/15/2020 12 Ashim Rana
12. The Rich Don’t Work For Money “There is difference between being poor and being broke . Broke is temporary , poor is eternal" 4/15/2020 13 Ashim Rana
13. The Rich Don’t Work For Money ❑ Life is the best teacher of all. ❑ The poor and the middle class work for money ,the rich have money to work for them. ❑ Avoiding one of life's biggest traps – fear and greed. ❑ School not the end but the beginning. ❑ Ignorance about money causes so much greed and so much fear. ❑ Seeing what others missed. 4/15/2020 14 Ashim Rana
14. Why Teach Financial Literacy? It is not important how much money you make , it is how much money you keep. Understand the difference between assets and liability. 4/15/2020 15 Ashim Rana
15. Financial Statement ❑ The rich acquire assets, while the poor and the middle class acquire liabilities, which they think are assets. ❑ Assets are things that create a cash flow. ❑ Liabilities are things that result in expenses. 4/15/2020 16 Ashim Rana
16. MIND YOUR OWN BUSINESS ❑ Financial struggle is often the result of people working all their life for someone else. ❑ People confuse their profession with their business. ❑ Ray Kroc is a salesman by profession but is in the Business of Real Estate. ❑ When you do a job, you work for everyone except yourself. 4/15/2020 17 Ashim Rana
17. The Rich Invent Money ❑ You invent your own luck. ❑ Just like luck, money should also be invented. ❑ Always try to plant seeds in your asset column. ❑ Intelligent people are those who work with or hire people more intelligent than them. ❑ Invest in what you love or what your interest is. 4/15/2020 18 Ashim Rana
18. History of T axes and The power of corporations. ❑ T axes were invented to ‘penalize’ the rich. ❑ But taxes end up hurting the middle classmore. ❑ The rich use corporations to save on their taxliability. ❑ Individuals pay tax first and then get to spend their income. ❑ Corporations spend first and pay taxeslater . ❑ Corporations also protect you from lawsuits. 4/15/2020 19 Ashim Rana
19. Work To Learn – Don’t Work For Money. 4/15/2020 20 Ashim Rana
20. Work To Learn, Not for Money. ❑ You never stop learning. ❑ Knowledge is power supreme. ❑ You should know a little about a lot. ❑ Most people work only because of the paycheck, not because they get to learn. ❑ First Specialize, Then Unionize. 4/15/2020 21 Ashim Rana
21. Develop your God Given Talents 4/15/2020 22 Ashim Rana
22. About inventing money :- 1. In the real world, The Bold get ahead before the smart. -- The one thing that hold most of us back is our self-doubt. -- Once we leave school, Gutz ,audacity,bravado,daring brilliance and preseverance are WORTH MORE THAN COLLEGE DEGREES OR GOOD GRADES. 2. In the real world, You have to be create your questions and answers. -- In school we learn that we have to be remember predetermined answers for pretermined questios. -- Once you leave school, you discover that other people’s questions and answers may not work for you. 3. In the real world, Courage and one’s Gut feelings are more important. -- Financial Intelligence requires both technical knowledge and courage. -- Financial knowledge offers confidence, a mental edge, lowers your risk. -- Financial Literacy offers clarity in a world over information. 4/15/2020 23 Ashim Rana
23. Overcoming Obstacles Five Obstacles to Financial Independence 1. Fear 2. Cynicism 3. Laziness 4. Bad Habits 5. Arrogance 4/15/2020 24 Ashim Rana
24. 6 Comments Educated Poor Dad always made Poor Dad words :-
25. 10 steps to awaken your financial genius: The power of spirit. The power of choice. Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice - JIM COLLINS 4/15/2020 26 Ashim Rana
26. The power of association. “A man only learns in two ways, one by reading, and the other by association with smarter people.” -by Will Rogers. The power of learning quickly. “He is most original who adapts from the most sources.” -by John Adair. 4/15/2020 27 Ashim Rana
27. • The power of self-discipline. • The power of good advice 4/15/2020 28 Ashim Rana
28. The power of getting something for nothing. The power of focus. The power of myth. The power of giving. 4/15/2020 29 Ashim Rana
29. Think and take action. Stop doing what you are doing. Action beats inaction. 4/15/2020 30 Ashim Rana
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31. Some chapter of this book focuses on tips to create and build personal wealth. The author says to find a motivator grater than reality and to empower the mind. He says people need to have a strange purpose for living. The next tip he gives is to feed the mind. He also says to choose friend carefully. The author also says to have heroes because they can be inspiring. He also preaches generosity and to pay your broker well. He also says to drop what you’re doing if it’s no longer working. 4/15/2020 32 Ashim Rana
32. Conclusion :-  Some chapter of this book focuses on tips to create and build personal wealth. The author says to find a motivator grater than reality and to empower the mind. He says people need to have a strange purpose for living. Not everyone seems pleased with the rather blunt way Robert Kiyosaki explains these money making principles in his book, and I partially agree. However, there is much knowledge to be gained if you are able to look past that layer. 4/15/2020 33 Ashim Rana
33. - Ashim Rana 4/15/2020 34 Ashim Rana