Key Takeaways

RICH DAD POOR DAD

Education is the foundation of success. Just as scholastic skills are vitally important, so are financial skills and communication skills.

Instead of working for a corporation, own the corporation. Both require education, but the subjects of study are completely different.

Be a smart person but also be smart to know how to hire smart people.

Financial intelligence is the mental process via which we solve our financial problems.

“The love of money is the root of all evil.” “The lack of money is the root of all evil.”

One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is because the subject of money is taught at home, not in school. 

Most of us learn about money from our parents. So what can a poor parent tell their child about money? They simply say “Stay in school and study hard.” The child may graduate with excellent grades but with a poor person's financial programming and mind-set. It was learned while the child was young.

Instead of “I can't afford it.” Say, “How can I afford it?” One lets you off the hook, and the other forces you to think. 

Instead of finding a good company to work for, find a good company to buy.

Instead of “The reason I'm not rich is because I have you kids.” Say, “The reason I must be rich is because I have you kids.”

Instead of saving a few dollars, create investments.

Instead of writing an impressive resume to find a good job, write a strong business and financial plan to create jobs.

People really do shape their life through their thoughts.

Broke is temporary, and poor is eternal.

Make money work for you instead of working for money.

Money is one form of power. But what is more powerful is financial education. Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth. 

The reason positive thinking alone does not work is because most people went to school and never learned how money works, so they spend their lives working for money.

7 Lessons from Rich Dad...
1. The rich don't work for money - instead of working for money, have money work for you.
- You're only poor if you give up. The most important thing is to do something. Don't just talk and dream of getting rich. Do something.
- You learn faster when you work, you waste time if you just want to sit and listen, like you do in school.
- If you can't make up you 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.
- Talking and lectures are for school, but that is not how life teaches you, and life is the best teacher of all. 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.” If you learn life's lessons, you will do well. If not, life will just continue to push you around. Instead of giving up, fight. Learn the lesson and move on.
- Don't let the fear of losing be greater than the excitement of winning.
- Ask those who are successful what they know about money instead of asking for a job and a paycheck.
- Learn something and grow wiser. Most people want everyone else in the world to change but themselves. It's easier to change yourself than everyone else.
- Most people quit and go to look for another job, better opportunity, and higher pay, thinking that a new job or more pay will solve the problem. In most cases, it won't. Some even take a second job working harder, but again accepting a small paycheck. Instead, use your brain.
- Instead of studying hard to get good grades, so you can find a safe, secure job with a big company with excellent benefits, learn how money works so you can make it work for you.
- You see, true learning takes energy, passion, a burning desire. Anger is a big part of that formula, for passion is anger and love combined. - When it comes to money, most people want to play it safe and feel secure. So passion does not direct them: Fear does.
- Most people, given more money, only get into more debt.
- If you want to learn to work for money, then stay in school. That is a great place to learn to do that.
- It's fear that keeps most people working at a job. The fear of not paying their bills, being fired, not having enough money, starting over.

- The price of studying to learn a profession or trade, and then working for money, is becoming a slave to money.
- You're taxed when you earn, when you spend, when you save and when you die.
- Learning how to have money work for you is a lifetime study because the more you find out, the more you find out you need to know.

- Most people go to school, learn a profession, have fun at their work, and earn lots of money. One day they wake up with big money problems, and then they can't stop working. That's the price of only knowing how to work for money instead of studying how to have money work for you. 
- Each human being has a weak and needy part of their soul that can be bought. Also, each has a part of their soul that is strong and filled with a resolve that could never be bought. It is only a question of which one is stronger.
- The fear of being without money motivates us to work hard, and then once we get that paycheck, greed or desire starts us thinking about all the wonderful things money can buy. The pattern is then set. The pattern of get up, go to work, pay bills, get up, go to work, pay bills. Our lives are then run forever by two emotions, fear and greed. More money and the cycle continues with increase in spending. This is the Rat Race.

- When you feel the fear of not having money, think instead of reacting emotionally.

- Desire is perfectly normal, desire for something better, prettier, more fun or exciting. So people also work for money because of desire. They desire money for the joy they think it can buy. But the joy that money brings is often short lived, and they soon need more money for
more joy, more pleasure, more comfort, more security. So they keep working, thinking money will soothe their souls that is troubled by fear and desire. But money cannot do that.
- In fact, the reason many rich people are rich is not because of desire but because of fear. They actually think that money can eliminate that fear of not having money, of being poor, so they amass tons of it only to find out the fear gets worse. They now fear losing it. I have friends who keep working even though they have plenty. I know people who have millions who are more afraid now than when they were poor. They're terrified of losing all their money. The fears that drove them to get rich got worse. That weak and needy part of their soul is actually screaming louder. They don't want to lose the big houses, the cars, the high life that money has bought them. They worry about what their friends would say if they lost all their money. Many are emotionally desperate and neurotic, although they look rich and
have more money.”
- The avoidance of money is just as psychotic as being attached to money.
- Emotions are what make us human. Make us real. The word `emotion' stands for energy in motion. Be truthful about your emotions, and
use your mind and emotions in your favor, not against yourself.
- Instead of finding a job, ask yourself what the solution for the long run is. A job is just a short term solution to a long term problem.
- The main cause of poverty or financial struggle is fear and ignorance, not the economy or the government or the rich. It's self-inflicted fear and ignorance that keeps people trapped. 

- We're all employees ultimately, we just work at different levels.

- If you don't first handle fear and desire, and you get rich, you'll only be a high-paid slave.
- Most people use fear and greed against themselves. That's the start of ignorance. Most people live their lives chasing paychecks,
pay raises and job security because of the emotions of desire and fear, not really questioning where those emotion-driven thoughts are leading them. 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.
- What intensifies fear and desire is ignorance. That is why rich people with lots of money often have more fear the richer they get. Money is the carrot, the illusion. If the donkey could see the whole picture, it might rethink its choice to chase the carrot.
- A 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. That struggle is a moment-to-moment decision-to learn to open or close one's mind.
- School is important as it teaches you a skill or profession so as to be a contributing member of society. Every culture needs teachers, doctors, mechanics, artists, cooks, business people, police officers, firefighters, soldiers. Schools train them so our culture can thrive and flourish. Unfortunately, for many people, school is the end, not the beginning.
- History repeats itself, because we do not learn from history. We only memorize historical dates and names, not the lesson.
-  Prices should actually come down. Of course, that is often only true in theory. Prices go up because of greed and fear caused by
ignorance. If schools taught people about money, there would be more money and lower prices, but schools focus only on teaching people to work for money, not how to harness money's power.
- Business schools train employees who are sophisticated bean counters. Heaven forbid a bean counter takes over a business. All they do is look at the numbers, fire people and kill the business. All they think about is cutting costs and raising prices, which cause more problems. Bean counting is important. I wish more people knew it, but it, too, is not the whole picture.
- Learn to use your emotions to think, not think with your emotions. Master your emotions, first by agreeing to work for free, then resist your emotions when tempted with more money to learn to think in spite of being emotionally charged. That's the first step.

2. Whey teach financial literacy
3. Mind your own business
4. The history of taxes and the power of corporations
5. The rich invent money.
6. Work to learn don't work for money

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