![]() ![]() ![]() If you were wise from a financial point of view, you might consider investing the extra money and buying stocks or bonds. For instance, let’s say your boss just gave you a nice promotion which came with a hefty pay raise. People who are ignorant and who don’t know much about managing their finances are extremely likely to let these two emotions control their decision-making. If you are poor, you will spend most of your time worrying about money and about not having enough (fear). If you are wealthy, you will probably focus on all the new and amazing things that you can spend your money on (greed). When it comes to money, rich people and poor people have something in common - they experience the same basic emotions: greed and fear. RICH DAD, POOR DAD CHAPTER #1: Ignorant people are very likely to make irrational decisions due to their greed and fear. Because we are so afraid of society’s disapproval, we cannot leave the “rat race” and instead of growing wealthy, we become trapped. While it might help some people avoid poverty, it certainly won’t make them rich. Humans are genetically built to always try to be part of the group but in this day and age, this type of attitude is not very helpful. Nevertheless, a lot of people still believe in and follow the outdated mantra mentioned above because they fear what others might think. Instead of enjoying the rewards of their hard work, people allow their bosses to get rich and end up with nothing. This is mainly owed to the fact that they are stuck in the “rat race”. In today’s economy, those who study hard, get into a good college, graduate, and land a good job are still in danger of never seeing financial growth. Today, however, this life plan is no longer effective and getting good grades in college doesn’t guarantee a life free of financial struggles or of poverty. Most of them would spend their whole adult lives working for the same company and would end up retiring with a cushy pension. A few decades ago, people who were fresh out of college were very likely to land a job. For instance, think of the mantra “Go to school, get good grades, get a good job.” This mantra is as popular as ever, despite the fact that it is an outdated piece of advice built on past values and ideas. But if that’s the case, why do we keep racing? According to the author, humans are so afraid of society’s disapproval, that they allow their lives to be dominated by what other people think. When we think about the rat race, we feel that we are all somehow involved and most of the time, it is something that we all hate. We all know what phrase rat race refers to, but if someone asked, how would you define this concept? A good definition for the concept of the rat race is “The endless routine of working for everyone but yourself.” In other words, a rat race consists of doing all the work by yourself, while others - your bosses, the bill collectors, and the government - reap the benefits. Kiyosaki’s 1997 book Rich Dad, Poor Dad? Pick up the main ideas of the book from our quick summary. In this edition, messages that were criticized and challenged two decades ago through Rich Dad Poor Dad are more meaningful, relevant but important today, 20 years later.Want to learn more about Robert T. Now 20 years later, Robert provides an update on investment and the global economy, and from 1997 to today, Robert evaluates how the complaints by his Aamir father have stood the test of time. Through this story both men are told and this book also breaks this myth to become rich you need to earn some income and there is a difference between working for money and working for you with your money Tells the difference. In the story there is a child named Robert whose father is poor, his father was a professor, his other dad, who was actually the father of his friend Mike. Two fathers are described in the story, one is Rich Dad and the other is Poor Dad. By the time you’re done with the story, you’ll enjoy implementing the tips. The lessons are a mix of how to approach money as a concept, basic knowledge of accounting, budgeting, and investing, and how to manage your money so it works for you. It’s based partially on Kiyosaki’s life, who learned two different ways of handling money from his dad and that of his best friend. This book is controversial, but in getting you to actually do something, it just works. Rich Dad Poor Dad tells the story of a boy with two fathers, one rich, one poor, to help you develop the mindset and financial knowledge you need to build a life of wealth and freedom. ![]()
0 Comments
Leave a Reply. |