Here’s my definitive Rich Dad Poor Dad review.
It’s been a few years since reading Robert Kiyosaki’s Rich Dad Poor Dad. It’s the book that solidified my desire to kill my 9-5 or rather 6-4 daily grind.
Here are the big takeaways from the book and how I’ve implemented them in my entrepreneurial journey.
Getting into real estate and purchasing my first single family rental home is by far the best piece of knowledge I got out of this book. After finishing this book I stumbled upon a podcast about real estate called BiggerPockets.com which I highly recommend subscribing to after reading Rich Dad Poor Dad.
Robert grew up with two dads. No, not a gay marriage as that wasn’t considered normal like it is today. Robert had his biological father that was a big time educational professional, and his best friend’s dad whom was a successful entrepreneur that owned many successful businesses.
Got to school and get a job? Really Dad?
There’s a HUGE difference between children that are raised as workers and those that are raised to own businesses. The worker bee is one that blindly follows the the masses. They’re told from the time they’re old enough to go to school, work hard to get good grades and get a job.
Yeah, I know, if you’re reading this that’s not your plan, nor is it mine.
Kids that are raised in a home which are surrounded by entrepreneurs that solve problems are those that go on to make money their Biatch! These kids see problems as opportunities and set up business systems to capitalize upon them.
The Cashflow Quadrant
There’s really four ways or quadrants (Cashflow Quadrant) to make money detailed in Rich Dad Poor Dad.
The E, S, B and I fill out the Cashflow Quadrant.
E and S on the right side and B and I on the right of the quadrant.
E is for employee. Employees trade their time and labor for a paycheck. This is the worst position to be in because if you don’t work you don’t get paid.
S is for self-employed. You work for yourself but you’re usually a one man show. That means your business doesn’t allow you to take long vacations and have your business running without you.
B represents business owners. They leverage other go to school, get a job sheeple that prefer the security of a paycheck over financial freedom.
The I in the quadrant is for investor.These people have money working for them and live the good life of playing golf everyday or enjoying month long vacations. Sometimes, investors are business owners or have sold a business to raise the capital to become an investor.
People tend to have limiting beliefs that keep them from achieving their goals in life. They tell themselves that they can’t afford something rather than asking “How can I afford this?”
Money is everywhere and often it’s not a matter or resources but a lack of resourcefulness.
Read this book and reframe the way you look at jobs, businesses and investing.
You’ll gain valuable insight on the freedom that can be attained from being on the right side vs. the left.
I wanna know how you’ve utilized the knowledge gained form Rich Dad Poor Dad so leave me a comment below…