RICH DAD POOR DAD SUMMARY (BY ROBERT KIYOSAKI)

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Follow in the footsteps of the rich, not the poor. This is a top 5 takeaway summary of Rich Dad Poor Dad by Robert Kiyosaki – a man who grew up learning the importance of this first-hand.

Top 5 Takeaways from Rich Dad Poor Dad:

0:17 1. Rich People Buy Assets, Poor People Buy Liabilities That They Think Are Assets
2:01 2. The Power of Corporations
4:19 3. Stop Focus on Your Income - Focus on Your Assets
5:20 4. Don't Diversify with Too Little Money
6:48 5. Educate in Personal Finance

TL/DW:
- Takeaway number 1 is that you must buy assets to start generating passive income every month.
- Takeaway number 2 is that a corporation is a useful vehicle to protect yourself from lawsuits and be able to pay yourself first, not the government.
- Number 3 is to start taking responsibility of your investment decisions. They are even more important than your salary.
- Advice number 4 is that you must invest in a focused manner to grow a large fortune.
- Finally, number 5 is the advice to start educating yourself in personal finance – focusing on accounting, investing and understanding the markets.

My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

[DW-ddiw]

I asked two wealthy business partners how they made their money. They started selling specialist building materials and used the profits to buy two large commercial business premises.
They rented out the other unit and used the income to buy more units.
HOWEVER, the real money earner was allowing smaller established businesses to use their large commercial premises for FREE (12 to 24 months) in exchange for a percentage of the company.
They earn around £100k of passive income per year (each) from these deals, in addition to their own business and commercial rent.
Very nice!

[NathanHQ]

Such an AMAZING book. I read this over 10 years ago and it was a big game changer. It really is the stuff that they do not teach you in school

[victorc.]

This book changed my life. When I read it, it was like I had been blind my whole life and I could finally see.

[thenamelessfaceless]

Slowly becoming my favourite YouTube channel. You have a BIG future.

[Oskar-S-]

For someone who does not want to read a whole book, this is highly valuable!

[giorgiberuashvili]

Very helpful and informational video... Absolutely recommended 🙌

[marshallhosel]

First time viewer, enjoyed your presentation. You keep it moving along.

[qasimsaleem]

Really appreciate your videos. Good job man

[panchasanguparakalarajan]

Awesome. Nicely explained. Thanks for sharing.

[matthewkeron]

What software do you use for these vids? They are great!

[FBrapidreview]

I read the book and found some fundamentals explained to improve finances. It is especially a good read for those who have little or no knowledge of finance and accounting. Overall a good read, thanks for the review !

[sergiobravo]

Thank you for all these videos, they are really amazing!

[rayeesuraj]

Good Video Summary Sir. Love the Content . And Please Make the Video On MONEY MASTER THE GAME By Tony Robbins

[Venom]

I can’t thank you enough for all of these videos.

[cagmito]

Never thought of that comaprison before, how some can people can convince themselves they need a brand new range rover to get to work and back but then suggest investing in stocks etc can lose you money .

[khisacentrine]

Well explained thank you for the good lesson

[iirgendsonTyp]

Actually a house can be a huge asset.

I have a 3 units building and over 10y it paid itself, since then puts money into my pocket every month and im living for free, no rent.

[tedeye]

In this era you can't certainly say a mobile phone 📱 is a liability as it depends on the individual. To some people, the mobile phone is a great accet.

[Mikey]

Man I’ve been blind my whole life. I have 23k in debt that I’m paying all my extra too. Now that I see opportunity for investing I don’t even have the capital to help myself. So frustrating. But lesson learned

[_romeopeter]

9:10 both cases are true. The craving/love of money can put you through pains you never wanted by doing anything(mostly evil and immoral)at all just to get it. This will lead to frustration and will make you lose yourself . The lack of money though might not cause you to do anything evil or immoral, it will affect the most important things your life thus bring about severe frustration and regrets. Avoid both!!!