The Bridge to Success

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10 LESSONS LEARNED FROM 'RICH DAD POOR DAD' BY ROBERT T. KIYOSAKI.

1. The rich make their money work for them

2. Financial education is your greatest asset

3. Don't work to earn money; work to learn.

4. Know the difference between assets and liabilities:

✔️An asset is something that puts money in your pocket.

✔️A liability is something that takes money out of your pocket.

5. Reduce your spending as much as possible.

6. Reinvest the profits you make.

7. Don't rely exclusively on financial advisors:

✔️Getting help from a financial advisor can be useful, but you also need to have control over your own money.

✔️Learn how to invest because nobody will do it better than you.

8. Manage your money:
Many people are able to make money, but not everyone learns how to manage it properly.
Ensure that you have more money coming in than going out, which is what will make you richer.

9. Do not rely on a single source of income:
Most people rely on a single source of income.
✔️You can never become rich and financially secure if you are one of those.
✔️You should have 2 to 3 streams from where you earn money.

✔️You will be in better position even if you face some financial crisis if you multiple income.

10. Saving and investing are different:

Saving is considered a must and a good habit.

✔️You need to invest your money instead where it grows at a higher rate than inflation.

✔️Saving weaken the purchasing power while investment will increase the value of your money.

Thank you for reading.

Copied from Wordsmith J. Nansel