Rich Dad , Poor Dad Essay

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RICH DAD, POOR DAD By Robert T. Kiyosaki INTRODUCTION Today, the most dangerous advice you can give a child is “Go to school, get good grades and look for a safe secure job.” That is old advice, and it’s bad advice because if you want your child to have a financially secure future, they can’t play by the old set of rules. It’s just too risky. My Two Dads Had Opposing Philosophies of Life o One dad thought the rich should pay more in taxes to take care of the unfortunate – the other said “Taxes punish those who produce and reward those who don’t produce.” o One dad recommended, “Study hard so you can find a good company to work for.” The other recommended, “Study hard so you can find a good company to buy.” o One said, “When it comes to money, play it safe, don’t take risks.” The other said, “Learn to manage risk.” o One believed, “Our home is our largest investment and our greatest asset.” The other believed, “My house is a liability, and if your house is your largest investment, you’re in trouble.” o One dad believed in a company or a government taking care of you and your needs. The other believed in total self-reliance. o One dad struggled to save a few dollars. The other simply created investments. SIX LESSONS ABOUT THE RICH Lesson #1 – The Rich Don’t Work for Money Most people have no guts, they give up every time life pushes them. If you’re that kind of person, you’ll live all of your life playing it safe, doing the right things. But the truth is, you let life push you into submission. Deep down you were terrified of taking risks. You really wanted to win, but the fear of losing was greater than the excitement of winning. So you chose to play it safe. The poor and the middle class work for money. The rich have money work for them. Rich Dad, Poor Dad (continued) Avoiding One of Life’s Biggest Traps o To live life dictated by the size of

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