Rich-Dad-Poor-Dad | Credit (Finance) | Loans

RICH DAD

Poor Dad
By :Robert Kiyosaki Sharon Lecher C.P.A

Presented by: Pradeep Prabhuchanderkar EMBA05 – Roll No.16

What Rich Teach Their Kids About Money That Poor & Middle class

Do Not !

“ The rich have money work for them”. .“The poor & middle class work for money . THE RICH DON’T WORK FOR MONEY.

Learn to manage Risk. Study hard so that you can find a good company to work for Money Play it safe.Poor Dad Vs Rich Dad The love of Money is root of all Evil I can’t afford it.Don’t play safe. Don’t take Risk The lack of Money is Root of all Evil How can I afford it ? Study Hard so that you can find good company to Buy. . Money. Play it Smart.

Poor Dad Vs Rich Dad Depends on company/Government for pay hike. retirement plan etc. My house is a liability and if your house is your largest investment you are in Trouble. . Believes in total financial self reliance. I am not interested in Money Our home is our largest investment and our greatest asset. medical insurance. Money is Power.

Study Hard. . Get Good Grades and you will Find a high paying job with Great Benefits (Safe & Secure Jobs) RAT RACE Study Hard.Promotions/Jobchange. Children. Marriage. Vacations………… Fast Track Bill Gates. Overtime/Part Time Jobs. Good School. Post Graduation. Graduation.Michale Jordon. Cars.House. Job.There is a need. Madonna…..

There is a need. Get Good Grades and you will Find a high paying job with Great Benefits (Safe & Secure Jobs) IS A BAD ADVICE The world has changed & Changing very fast and current educational system has failed to cope up with the change. Education is the foundation of success so are the Financial skills & Communication skills. Study Hard. .

There is a need. Financial Intelligence is the Mental Process via which we solve our Financial Problems. But there are different set of rules with which Rich Plays compared to Poor & Middle class. Example : Down Sizing/ Right Sizing of The Company. .

Assets : Puts Money in your Pocket. In life it is not important how much money you make.Why Teach Financial Literacy ? Retirement : We can work or Not Work and our wealth grows automatically staying way ahead of inflation. . It is how much Money you keep. Liability : It is something that takes Money out of a Pocket. Wealth : Persons ability to survive so many days Forward.

Credit cards .Poor /Middle Class Financial Statement Income Expenses Pay Check. Consumer Loans. Mortgage Fixed Expenses Assets Liabilities Home. Taxes.

IPR Expenses Liabilities . Bonds.Rich Class Financial Statement Income Dividends. Real Estate. Interest. Rental Income Assets Stocks.

Why Teach Financial Literacy ? 88997777 The way to get Richer is to increase the Cash Flow from the Assets. . keep the expenses less than the cash Flow generated from these assets. Reinvestment process continues with more and more income from Sources other than the Physical labor.

Mind your Own Business Profession & Business : McDonald Story Financial Struggle is often directly the result of People working all their life for some one else. Owner or Share Holders of the Company Government ( Taxes ) Banks ( Repayment of Loans ) Business revolves around the Asset column. .

Financial I. Investing : Science of Money MAKING Money Understanding Market : Technical aspect of science of Supply & Demand Law : To make advantages from various provisions in the law for Growth of the Organization. 1) It is made up of knowledge from Four Broad Areas of Expertise. Accounting : Financial Literacy is the ability to read & understand financial statements.Q. 2) 3) 4) .History of Taxes & Power of Corporation Robin Hood : Collect it from Rich & Distribute it to the Poor.

? In today's changing world Job security CAN NOT be taken for granted. . Why Develop Financial I.Formation Of AT & T. Every Person is Genius .The Rich Invent Money Example : Graham Bell . Hence we Must have more OPTIONS. MONEY IS NOT REAL In Today's Information Age Just Ideas and agreements are exchanged to MAKE MONEY.but excessive Fear & Self Doubt are the greatest Destructor of Personal Genius.Q.

To develop Financial Intelligence fallowing 3 skills needs to be Developed.The Rich Invent Money Financial Intelligence. Skill to choose your advisors. . 1) 2) 3) Skill to apply your mind . It is more case of knowing. what others miss to see with their Eyes. Skill to raise Money :Investing is not buying.

6) We need to be a good Teacher. To be truly Rich .Work To Learn – DON’T WORK FOR MONEY Specialization narrows your options and hence your Earning Abilities. 2) The management of Systems ( Including yourself & time with family) 3) The management of People. we need to be able to give as well as to receive. 1) The management of CASH FLOW. . The main management skills needed for Success are. 4) Skill of selling & Marketing 5) Communication skill and Most importantly.

Overcoming Obstacles The five main reasons Financially literate people struggle to became Financially Independent are. 1) 2) 3) 4) 5) Fear of loosing Money : Cynicism Laziness Bad Habits Arrogance .

Cynic Criticizes. 3) Laziness .Overcoming Obstacles To Overcome 1) Fear of loosing Money : A) Start Early B) Plan Your Retirement ( Hire Financial Planner ) C) Be Focused Winning means being unafraid to loose. A little greed to have better life. 2) Cynicism : Unchecked doubts & Fear creates a cynic. Cure for laziness is to induce a little GREED. Winners Analyzes. .

Example : Paying bill on the LAST DAY of due Period is A GOOD HABIT. 5) Arrogance : Arrogance is defined as an EGO + Ignorance. Start Educating yourself by finding an Expert or a book on a subject where you know you are ignorant.Overcoming Obstacles To Overcome. Paying You First Is A GOOD HABIT. Arrogance always makes you to loose Money. . 4) Bad Habits : Developing Good Money habit is very important.

2) I choose daily. I choose to invest in Education & welcomes NEW Ideas.Getting Started 1) You need a reason greater than Reality. Choose Rich friends & Poor Friends carefully. 3) Choose Friends Carefully. a) I don’t want to work whole of my life. & From poor friends You can learn What not to Do. . I choose to be rich & I make that choice Every Day. C) I want control over my Time & Life d) I want Money to work for Me. Rich Friends to learn about inside trading. b) I don’t want to be Employee.

Don’t dip into your savings or investment. B) When you come up short. 5) Pay Yourself First. Let pressure inspire your Financial intelligence to come up with new ways of Making Money to pay your bills. A) Don’t get into large Debt Position.Getting Started 4) Master a formula and then NEW ONE. . In changing world learning New formula Quickly is the secrete of Success. 6) Pay your brokers well : Take good care of those people who help you to make money work for you.

Instead find heroes (Experts )who will make it look easy. 10) Teach and you shall receive it : Teach .too many people make it sound hard. . Income buys Luxury items. what you know to others who needs it and you will receive new ideas & finer distinction. 9) The need for Heroes : When it comes Investing .Getting Started 7) Be An Indian Giver : How fast do I get my Money back? So in any investment recover your principle as quickly as possible 8) Assets buys luxuries: luxuries: Assets generates Income.

To Do’s Take Actions DON’T PLAY IT SAFE PLAY SMART .

Kiyoaski. a must read A Must read for Millionaires. . – THE WALL STREET JOURNAL. The main reason people struggle financially is because they have spent years in school but learned nothing about money.P.Who Said it? The book that rocked THE FINANCIAL WORLD! J. we all need to understand money and how it works. – Robert T. But never learn to have money work for them. while very important. “ I love my children & want to ensure they get the best education possible! Traditional schooling. Morgan declares “ Rich Dad Poor Dad.” – Sharon Lechter. The result is that people learn to work for money …. is no longer enough.

Thanks .

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