Simple Tips on How the Rich Master the Art of Money making. Summary of Rich Dad Poor Dad

All of us have different occupations, where earning money for a better living is one of our ultimate goals. We are qualified in our respective fields and job roles. However when it come to being rich and successful, unfortunately some miss out and the others flourish. The main reason for this is your Financial Literacy.

You are taught Engineering, Art, Medicine, Marketing… subjects when you specialize towards your profession. But are you taught how to Manage Your Personal Finance. If you are in the fields of accounting and finance you might be familiar with some of the concepts. But the truth is this is a core life lesson which all of us should be taught at school & university, to help us manage our own finance. You might feel that it is simple, but the truth is, these are the simple things which would decide whether you are going to be Rich or Poor.

If you don’t have a clue on how to be Rich or manage your personal finances, the book Rich Dad Poor Dad by Robert Kiyosaki may well be a good starting point for your financial future. The book presents you simply the core concepts on how to be rich, through the authors own life story and experiences. Its one of the many books written by Robert which is an easy read with many illustrations.

Some of the core principals presented in the book are summarized to help and motivate you towards reading. For all rational individuals Money is important. But the main mistake we make regarding Money is, either we are Afraid of Money, or we are Greedy for Money.

Most humans are driven by the Fear & Greed for money, where we do not grasp the core concepts of Money Making. When we fear money, we focus on our daily jobs to make money, which limits us on other investing opportunities presented to make money. When we receive our monthly salaries the Greed takes place which prompts us to work again, sticking to our jobs and continuing this cycle. In summary many of us are trapped in this cycle or the rat race where we start working on a job because we fear money and then keep on working due to the greed. The fear and greed limits us to grasp opportunities, use our minds to actually become Rich.

Don’t Work For Money, Instead let Money work for You!!!

The rich never work for money, instead they let money work for them. Normally when we look at the Rich, they seem to be living luxurious lifestyles with minimal effort. The key reason is Money is working for them. The Rich invests in assets. These assets generate revenue without much, or any intervention at all. Once they invest in assets, Money keeps working for them. The concepts and how to invest in the right assets are presented well in detail all throughout the book.

If you analyze the poor, the poor are only left with Liabilities & Expenses which lures them into the cycle. Those people would work all their life time paying debt for their home loans & mortgages. But you could avoid all these and work towards a stable financial position, simply following some general tips in money making identifying key investment opportunities. The importance is that any person with a good mind and intent can adopt these strategies to become Rich.

The book also unfolds the history of taxes and the power of corporations which are used effectively by the rich to keep on building their wealth. The practical examples and illustrations helps us to understand all these key concepts even for anyone without any financial knowledge.

All of you focus on your careers, learning new technologies and concepts in the relevant fields to become competent. Undoubtedly managing your personal finance is a subject important to all of you, irrespective of whatever job you do, whether you are still a student, whether you are Poor or Rich. Thus the importance of learning these importance life lessons reading on these concepts.

We strongly urge you to read this simple yet highly valuable book which would definitely add some value to your life. If you have any suggestions on other books related to personal finance, please a drop a comment below which would help others to enhance their knowledge on the subject.