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posted on:
8/12/2012 10:52:48 PM EST
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Rich dad, Poor dad
robert kiyosaki, rich dad poor dad, book, review, sheree, empower network
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I am reading ‘Rich Dad, Poor Dad‘, by Robert Kiyosaki, at the moment and finding it very interesting.
This is the second time I have read it and I feel it is finally starting to sink in…
Some of the lessons in the book include:
Buying assets not liabilities
Assets are something the puts money in your pocket and make money for you, such as shares will pay a dividend, rental properties give you rent and also capital gain when you sell them.
Minding your own business
What this means is having your own business and being in control of it. You might have to work for someone first before you are generating enough money from your business.
The need to understand Financial intelligence
By understanding financial intelligence, you will generally have more options in life or more choices available. The four key items for financial intelligence are:
1. Financial literacy – understanding the balance sheet and, profit and loss statements.
2. Investment strategies – understanding what to invest in, when to invest and how to invest.
3. The Market – understanding how to get money from the market, the best time, market cycles and marketing.
4. The Law – understanding the law is important as ou will need to know your rights and what you can and can not do in business.
Management
You need to understand management and there are business schools whicaware set up to teach these skills. The type of management I amtalking about includes:
1. Cashflow – knowing how manage cash flow effectively, so get the best out of the business, whilst continuing to grow.
2. Systems – knowing how to manage you time and also knowing how tomanage yourself, including training, skills, knowledge, etc.
3. People – knowing how to manage people to get the best out of them.
Review
Rich Dad, Poor Dad is a number one best seller, as the by line says…
What the rich teach their kids about money – that the poor and middle class do not!
It is a great book that I thoroughly recommend to anybody – it makes you think differently about your finances and will hopefully help you on your financial journey to wealth creation.
Cheers
Sheree
PS: Want to find a way to increase your income... www.empowernetwork.com/?id=floralmask
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 | | This is a great blog, and I read it 3+ times... it is a must read |
| | |  | | Thanks for sharing the book, 'Rich Dad, Poor Dad', will have to give it a try. Thanks also for the great tips! |
| | |  | | I can recommend it...
It is a different way of thinking to what we are taught in school and at home though, so it does take a little bit to sink in...
Enjoy :-) |
| | |  | | I have always wanted to read this book, but just haven't gotten around to it. I have only heard good things about it. thanks for reminding me. |
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