"Rich Dad Poor Dad" by Richard Kyosaki: Summary

1164 words 5 pages
Some people generate an adequate living working for others, some do quite well, while many people don't do well. It is estimated that less than 16% of Canadians have more than $100,000 in their retirement funds while 38% have less than $10,000. Using money to make money is more likely to generate success. Using assets to generate wealth is likely to generate financial success. This is the principle in which my group is is based upon. Kiyosaki explains money does not calm your fears when desire forces you to spend. You have to avoid the trap. Rich people often have a fear of losing it all. A job is a short term solution to a long term problem. You must master the power of money. When the donkey drags the cart with the carrot on a stick …show more content…
Sales and marketing skills - the ability to communicate - are the most important of the specialized skills.
So it is not the quality of the work which makes so attractive, but the representaion it recives. Which is the reason why my business is an obligated neccesity for all businesses Overcome the fear of losing money. No one likes to lose any. You'll never meet a rich person who has never lost money. How are you going to handle the fear? Start investing as early as possible. The power of compounding is incredible. If you really want to go to heaven, you are going to have to die first. Remember the Alamo! Learn from your losses. Don't bury your failures get inspired by them. You must invest big and take risks. Small investments with safe returns stay small. You can't possibly get rich, and you very likely won't go broke. Most people put their few eggs in too many baskets. Busy people are often the most lazy. People are too busy to take care of their wealth. People are working too hard to make money. They know that deep down they are missing something. The cure for laziness is a little greed. Maybe it's apathy, maybe it's a mind set. What's in it for me if I'm healthy, wealthy and sexy? What would life be like if I never had to work again? Habits control behaviour. Pay yourself first, before you pay any other bills. Then you will be motivated to find the money to pay all the other bills. Look after number one. Choose friends

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