9 Powerful Lessons from"Rich Dad, Poor Dad" Presen ited by @startup_rules (Swipe left)@STARTUP_RULES 1. We All Need Financial Education The most students leave school with zero financial skills. They learn how to make some money, but have no idea how to make more money from their money, or how to spend their money. You need financial education to take charge of your money. (Swipe left)@STARTUP_RULES 2. The Difference Between the Rich and Poor Rich: 1st - Needs 2nd - Investments 3rd.- Wants Poor: 1st - Wants 2nd - Needs 3rd - Investments This is the only #1 reason why the rich have their money work for them and why both poor and middle-class people work for their money. (Swipe left)@STARTUP_RULES 3. Change Yourself Accept that you are the problem instead of blaming your family for not being rich. When you realize you're the problem, your environment will change. You can change yourself by following this simple step-by-step framework: - Read every day + Get Into Action * Quit a Bad Habit + Level up Your Skills + Get out of Your Comfort Zone + Stay Focused With To-Do Lists + Learn From People Who Inspire You (Swipe left)@STARTUP_RULES 4. Use Accounting to Keep Your Money Accounting is the most important subject if you want to be rich. Assets: put money in your pocket. Liabilities: take money out of your pocket. Rich people are those that acquire assets, while poor people are those who acquire liabilities (Swipe left)@STARTUP_RULES 5. How Taxes Benefited the Rich Historically, taxes were voted by the poor and middle class to only tax. Instead of punishing the rich, taxes are punishing the poor and middle-class. The poor are taxed before expenses. the rich have a corporation that's taxed after expenses The 4 Pillars of Becoming Rich 1. Accounting - The ability to read and understand financial statements. 2. Investing - The science of money making money; creativity combined with strategy and formulas. 3. Understanding markets - The science of supply and demand; technical (emotion-driven) and fundamental (economic sense) investments. 4, Law Understanding taxes and avoiding lawsuits. (Swipe left)@STARTUP_RULES 6. Don't Confuse Your Profession With Your Business You work first for your boss, then for the government through taxes, and finally for the bank that owns their mortgage. But forget to increase your asset column. You can keep your day job and put your money into assets. Once a dollar is in your asset column, never take it out. Invest in appreciating assets: - Dividend stocks - Rental properties - Index funds - REITs - Bonds -Gold (Swipe left)@STARTUP_RULES 7. Your Mind Is Your Most Valuable Asset 100 years ago, industry was wealth. Today, information is wealth. Train your mind how to: - Find opportunity - Leverage money - Organize intilligent people You'll have to take risks--calculated risk with informed decision. On the contrary, it's not as risky as it would be to someone who is merely rolling the dice and praying. (Swipe left)@STARTUP_RULES 8. Become a Generalist Rather Than a Specialist Specialization is for salary, not for the riches. Work to learn, not to earn. Robert recommends you find jobs that develop your communication, sales, and marketing skills. These skills are each necessary for creating wealth. (Swipe left)Double Tap & Follow Us! If This Post was Helpful. F FollowIf you want to achieve greatness, follow me.& @ImranTahir©@