September 18, 2007

Rich Dad, Poor Dad

Some quotes from Rich Dad, Poor Dad
Most families work from Jan to mid-May for govt. just to cover their taxes.

When it comes to money, learn to manage risk. Don't insist on playing it safe.

House is a liability - not an investment.

Rich Dad: I don't work for money. Money works for me.

Rich Dad: You are poor only if you give up. Most of the people only talk and dream of getting rich. You got to do something.

Rich Dad: 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.

Rich Dad: Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying - 'Wake up. There's something I want you to learn'.

Rich Dad: 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 will never happen.

Rich Dad: Most people want everyone else in the world to change but themselves. Let me tell you, it's easier to change yourself than everyone else.

Rich Dad: The poor and the middle class work for money. The rich have money work for them.

Rich Dad: True learning takes energy, passion, a burning desire. Anger is a big part of that formula, for passion is anger and love combined.

Rich Dad: First, the fear of being without money motivates us to work hard, and then once we get the paycheck. greed or desire starts us thinking about all the wonderful things money can buy. The pattern of - get up, go to work, pay bills, get up, go tow work, pay bills ... - is set. This pattern is the rat race.

Why grownups hurry off to work. It did not seem like fun, and they never looked happy, but something kept them hurrying off to work.

Rich Dad: When a poor amass money they end up fearing losing it. The fears that drove them to get rich got worse.

Rich Dad: Learn to use your emotion to think, not think with your emotions. Master your emotions.

There is only one rule to be rich. Know the difference between an asset and a liability, and buy assets. If you want to be rich that is all you need to know.

An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.

Unknown: Remember the golden rule. He who has the gold makes the rules.

Rich buy luxuries last, while the poor and middle class tend to buy it first. They often buy luxury items to look rich, but in reality they just get deeper in debt or credit.

We all have tremendous potential, and we all are blessed with gifts. Yet, the one thing that holds all of us back is some degree of self-doubt.

In the real world outside of academics, something more than just grades is required. It is called - guts, balls, daring, tenacity etc. This factor whatever it is labeled, ultimately decides one's future much more than school grades.

Often in the real world, it's not the smart that get ahead but the bold.

The world is always providing us with instant feedback. We could learn a lot if we tuned in more.

In most cases when someone gives you an advice - "You can't do that here", what they really mean is "I don’t know how to do that here .. yet"

Financial Intelligence is a synergy of accounting, investing, marketing and law. Combine those four technical skills and making money with money is easier.

Rich Dad: Leadership is imp. You got to learn that. If you're not a good leader, you'll get shot in the back, just like they do in business.

unknown: Workers work hard enough not to be fired, and owners pay just enough so that workers won't quit.

It is communication skills such as writing, speaking and negotiating that are crucial to a life of success.

The skills of selling and marketing are difficult for most people primarily due to their fear of rejection. The better you are at communicating, negotiating and handling your fear of rejection, the easier life is.

There are five main reasons why financially literate people may still not develop abundant asset columns. - Fear, Cynicism, Laziness, Bad habits, Arrogance.

Texans don't bury their failures. They get inspired by them. They take their failures and turn them into rallying cries. Failures inspires Texans to become winners. But that formula is not just the formula for Texans. It is the formula of all winners.

Rich Dad: Cynics never win. Unchecked doubt and fear creates a cynic. Cynics criticize, and winners analyze.

The most common form of laziness - Laziness by staying busy.

When you see something you can't afford but want to get, ask the question - "How can I afford it ?"

Greed is good. Guilt is worse than greed. For guilt robs the body of its soul.

There is gold and opportunity everywhere. Most people are not trained to see it.

If you cannot get control of yourself, do not try to get rich.

Stop doing what you are doing. Take a break and assess what is working and what is not working.

The definition of insanity is doing the same thing and expecting a different result.

1 comment:

jason haris said...

I loved reading this piece! Well written! :)

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