by “My rich dad wanted me to learn how money works so I could make it work for me.” – Robert Kiyosaki
Happy Today!
It’s a new week which means that it’s time to look at a new chapter of Rich Dad, Poor Dad. I hope you are enjoying this book so far – I am. This chapter included several nuggets of common sense presented in easy to follow comparisons between the two dads.
This chapter created the foundation of making the choice to learn about wealth generation. It reinforces that building wealth first begins with your mindset. Rich dad used a few payroll examples to make his lessons relatable. working for money, doing more work for less money and finally working for nothing – to help Robert understand that some jobs are done for the experience and lessons learned.
There was wisdom in how young Robert Kiyosaki was introduced to the concept of financial education. Therefore this chapter’s lessons will be broken up in two parts. Here are a few lessons from Chapter 1.
Quotes from Chapter 1 Rich Dad:
1. Learn to make money work for you.
“The poor and the middle class work for money. The rich have money work for them.”
2. Allow pain to be a motivating force.
“It hurt a little, but that hurt was good, because it inspired us to keep thinking of a way to make money.”
When you work for someone else, they don’t have to respect your time.
3. Try something and if it doesn’t work, don’t quit.
“You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something. I’m very proud of the two of you. I will say it again: Keep going. Don’t quit.”
4. Choose the right teacher
“Because I chose to be a schoolteacher. Schoolteachers really don’t think about being rich. We just like to teach. I wish I could help you, but I really don’t know how to make money.”
“A nice car and a nice house don’t necessarily mean you’re rich or you know how to make money,”
5. Be willing to work for it.
“Okay, here’s my offer. I’ll teach you, but I won’t do it classroom-style. You work for me, I’ll teach you. You don’t work for me, I won’t teach you. I can teach you faster if you work, and I’m wasting my time if you just want to sit and listen like you do in school. That’s my offer. Take it or leave it.”
6. Be ready to act.
“If you can’t make up your mind decisively, then you’ll never learn to make money anyway.”
“Opportunities come and go. Being able to know when to make quick decisions is an important skill.”
7. You have to sacrifice some things in order to reach the goal.
“But I have a softball game today,” I said. Mike’s dad lowered his voice to a stern tone. “Take it, or leave it,” he said. “I’ll take it,” I replied, choosing to work and learn instead of playing.”
8. There is a lesson in each life circumstance. Pay attention to what it’s trying to tell you.
“If you learn life’s lessons, you will do well. If not, life will just continue to push you around. People do two things. Some just let life push them around. Others get angry and push back. But they push back against their boss, or their job, or their husband or wife. They do not know it’s life that’s pushing.”
“Life pushes all of us around. Some people give up and others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something. They learn and move on. Most quit, and a few like you fight.”
“If you learn this lesson, you will grow into a wise, wealthy, and happy young man. If you don’t, you will spend your life blaming a job, low pay, or your boss for your problems. You’ll live life always hoping for that big break that will solve all your money problems.”
“Or if you’re the kind of person who has no guts, you just give up every time life pushes you. If you’re that kind of person, you’ll live all your life playing it safe, doing the right things, saving yourself for some event that never happens.
That’s all I have for the moment. If you haven’t read this book, maybe these lessons and the quotes from the Introduction will convince you to give it a try.
Til next time,
“My rich dad wanted me to learn how money works so I could make it work for me.” – Robert Kiyosaki
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