I recently read the book "rich dad poor dad" by Robert Kiyoski.

The documents contains

the opinion of author and it almost summarizes the book. Anything that seems abstruse
can be discussed. so here we go …

The main cause of poverty or financial struggle is fear and ignorance, not the economy or
the government or the rich

JOB: It's just like the picture of a donkey, dragging a cart, with its owner dangling a
carrot just in front of the donkey's nose. The donkey's owner may be going where he
wants to go, but the donkey is chasing an illusion. Tomorrow there will only be another
carrot for the donkey

Human’s life is a struggle between ignorance and illumination.

Once a person stops searching for information and knowledge of one's self, ignorance
sets in

"Two emotions, fear and desire, can lead you into life's biggest trap, if you're not aware of
them controlling your thinking.

The problem is that for many people, school is the end, not the beginning

Great civilizations collapsed when the gap between the haves and have-nots was too
great.

Learn to use your emotions to think, not think with your emotions a choice of thoughts to
consider, rather than knee-jerk reacting

BUSINESS, WHAT IT IS?. It's like planting a tree. You water it for years and then one
day it doesn't need you anymore. It's roots have gone down deep enough. Then, the tree
provides shade for your enjoyment.

I am concerned that too many people are focused too much on money and not their
greatest wealth, which is their education. If people are prepared to be flexible, keep an
open mind and learn, they will grow richer and richer through the changes

Intelligence solves problems and produces money. Money without financial intelligence
is money soon gone.

Most people fail to realize that in life, it's not how much money you make, it's how much
money you keep

If you want to be rich, you need to be financially literate.

The difficulty comes in asking adults to unlearn, or become children again. An intelligent
adult often feels it is demeaning to pay attention to simplistic definitions.
The rich are rich because they are more literate in different areas than people who
struggle financially

financial aptitude-what you do with the money once you make it, how to keep people
from taking it from you, how long you keep it, and how hard that money works for you.

He who has the gold makes the rules.

It is said that the fear of public speaking is a fear greater than death for most
people. According to psychiatrists, the fear of public speaking is caused by the fear of
ostracism, the fear of standing out, the fear of criticism, the fear of ridicule, the fear of
being an outcast. The fear of being different prevents most people from seeking new
ways to solve their problems.

An intelligent person hires people who are more intelligent than they are.

Schools were designed to produce good employees instead of employers.

A problem with school is that you often become what you study

Your business revolves around your asset column, as opposed to your income column.

The rich focus on their asset columns while everyone else focuses on their income
statements.

ASSET IS SOMETHIG THAT GIVES U RETURN WHILE APPRECIATION

OR MAINTAINANCE OF THE BASE VALUE

Assets fall into several different categories:

1. Businesses that do not require my presence. I own them, but they are managed
or run by other people. If I have to work there, it's not a business. It becomes my
job.
2. Stocks.
3. Bonds.
4. Mutual funds.
5. Income-generating real estate.
6. Notes (lOUs).
7. Royalties from intellectual property such as music, scripts, patents.
8. And anything else that has value, produces income or appreciates and has a
ready market.

Risk is always diminished if you love what the investment is, understand it and know
the game.
 The best thing about money is that it works 24 hours a day and can work for
generations

The rich created the corporation as a vehicle to limit their risk to the assets of each
voyage. The rich put their money into a corporation to finance the voyage. The
corporation would then hire a crew to sail to the New World to look for treasures. If the
ship was lost, the crew lost their lives, but the loss to the rich would be limited only to the
money they invested for that particular voyage.

A corporation is merely a legal document that creates a legal body without a soul.
the use of corporations became popular-once the permanent income laws were passed-
because the income-tax rate of the corporation was less than the individual income-tax
rates. In addition, certain expenses could be paid with pre-tax dollars within the
corporation.
knowledge is power. And with money comes great power that requires the right
knowledge to keep it and make it multiply. You need to know the law and how the system
works. If you're ignorant, it is easy to be bullied. If you know what you're talking about,
you have a fighting chance.
He knew the law because he was a law-abiding citizen. He knew the law because
it was expensive to not know the law. "If you know you're right, you're not afraid of
fighting back.

Financial IQ is made up of knowledge from four broad areas of expertise.

No. 1 is accounting. What I call financial literacy. A vital skill if you want to build
an empire. The more money you are responsible for, the more accuracy is required, or the
house comes tumbling down. This is the left brain side, or the details. Financial literacy is
the ability to read and understand financial statements. This ability allows you to identify
the strengths and weaknesses of any business.

No. 2 is investing. What I call the science of money making money. This involves
strategies and formulas. This is the right brain side, or the creative side.

No. 3 is understanding markets. The science of supply and demand. There is a

need to know the "technical" aspects of the market. The other market factor is the
"fundamental" or the economic sense of an investment. Does an investment make sense
or does it not make sense based on the current market conditions.

No. 4 is the law. For instance, utilizing a corporation wrapped around the
technical skills of accounting, investing and markets can aid explosive growth. An
individual with the knowledge of the tax advantages and protection provided by a
corporation can get rich so much faster than someone who is an employee or a small-
business sole proprietor. It's like the difference between someone walking and someone
flying. The difference
 Employees earn and get taxed and they try to live on what is left. A corporation
earns, spends everything it can, and is taxed on anything that is left. It's one of the biggest
legal tax loopholes that the rich use. They're easy to set up and are not expen sive if you
own investments that are producing good cash flow.

Try to learn via "osmosis

It is best to go broke before 30. You still have time to recover

"Job is an acronym for 'Just Over Broke.'"

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

"I'm not interested in going to the gym, but I go because I want to feel better and live
longer."

You can't teach an old dog new tricks

I know of no other skills to be more important than selling as well as marketing.

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
In addition to being good learners, sellers and marketers, we need to be good
teachers as well as good students. To be truly rich, we need to be able to give as well as to
receive. In cases of financial or professional struggle, there is often a lack of giving and
receiving. I know many people who are poor because they are neither good students nor
good teachers

"People are so afraid of losing that they lose"

Everyone wants to go to Heaven, but no one wants to die

. There are so many "intelligent" people who argue or defend when a new idea clashes
with the way they think. In this case, their so-called "intelligence" combined with
"arrogance" equals "ignorance”. There are people who are highly educated, or believe
they are smart, but their balance sheet paints a different picture. A truly intelligent person
welcomes new ideas, for new ideas can add to the synergy of other accumulated ideas.
Listening is more important than talking. If that was not true, God would not have given
us two ears and only one mouth. Too many people think with their mouth instead of
listening to absorb new ideas and possibilities. They argue instead of asking questions.

PAY YOUR BROKERS WELL:

A broker is your eyes and ears to the market. They're there every day so I do not
have to be. I'd rather play golf.
 What I find funny is that so many poor and middle class people insist on tipping
restaurant help 15 to 20 percent even for bad service and complain about paying a broker
3 to 7 percent. They enjoy tipping people in the expense column and stiffing people in the
asset column. That is not financially intelligent.

The real skill is to manage and pay well the people who are smarter than you in some
technical

Find someone who has done what you want to do

The definition of insanity is doing the same thing and expecting a different result. Stop
doing what is not working and look for something new to do.