RICH DAD POOR DAD

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It was a real delight reading the #1 New York Times bestseller “Rich Dad Poor Dad", the second time. I would like to summarise the few basic points which sir "Robert Kiyosaki" tries to convey, in my own words.

• The poor work for money but the rich make money work for them. Rich don't work for money.
• The rich have assets, the poor have expenses & the middle class have liabilities which they think to be assets.
  

  
  

  Real Assets:-

  • Businesses that don't require your presence. If you have to work there, it's a job.
  • Stocks, bonds, income-generating real estate, royalties from intellectual properties.
    

• Financial literacy needs knowledge on:-

• Accounting - Analysing business activity and financial information.
• Investing - Money making money.
• Understanding market - Science of supply and demand 
• The business law.

•  Three types of income in the finance world:-

                   Ordinary earned- salary. (maximum taxed)                                                            
                      Portfolio- stocks & bonds. 

                      Passive- real estate. (least taxed)  
                      

                        

    

  Public review from amazon

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