Recently, an old book has suddenly become popular again. It is “Poor Dad and Rich Dad” written by Robert Toru Kiyosaki. This book has also been rated as the most popular financial management book on Douban.com. So what does “Poor Dad and Rich Dad” talk about, here is a summary of the core content of the book, and at the same time, I will share with you my personal opinions and readers’ selected insights of Poor dad and rich dad’s thoughts after reading.
The idea throughout the book “Poor Dad and Rich Dad” is: the poor make money for money, and the rich make money for themselves.
The characteristics of poor dad: Let the children study hard, work hard to go deep into school education, and then find a stable job, through continuous hard study and improvement to achieve the purpose of salary increase, stable work and school education are the most important for poor dad.
The characteristics of rich dad: Let children learn financial knowledge while learning school knowledge, learn not to work for wages, boldly try and explore, learn rich financial knowledge, and improve financial quotient. Get paid through flexible business and investment, learn not to work for money, and let money work for yourself.
Of course, this book also teaches many intuitive methods. First of all, we have to overcome difficulties:
4. Bad habits
5. Be conceited.
Secondly, how to put it into action? Ten methods are also given in the book:
1. I need a surreal reason-spiritual power.
2. Make your own choice every day-the power of choice.
3. Choose friends carefully-the power of relationships.
4. Master a mode, and then learn a new mode-the power of rapid learning.
5. Pay yourself first-the power of self-discipline.
6. Give your agent generous remuneration-the power of good advice. (Professional work is left to professional people)
7. Be an “Indian giver”-selfless power.
8. Use assets to buy luxury goods-the power of concentration. (To elaborate on this point, it is to realize the consumption of luxury goods through the derivative premium of assets. When you like luxury goods, you cannot borrow money to buy them, or even use existing deposits to buy them, but use premium income to buy luxury goods; this It makes us focus on using assets to create more money.)
9. The worship of heroes-the power of myth
10. Give first, take later-the power of giving
In the book “Poor Dad and Rich Dad”, most of the content is still valuable. It fundamentally allows many people to understand the importance of financial quotient, but most of the cases are about how to speculate in real estate, which is obviously at the moment. In this era, it’s not so popular. Some people think that this book is a brainwashing book, or it may be because this book has been allowing everyone to buy a house and invest.
Finally, I will share some readers’ perceptions that are worth learning:
1. Most of them live in a strange cycle. They work hard to make money, but don’t learn how to make money work for him. Because fear and greed control them.
2. We must understand what are assets and what are liabilities. Let your money work for you and generate more money.
3. Don’t confuse the difference between career and occupation. If you need to be present to make money, then that is a career. If you don’t need to be present and help you make money automatically 24 hours a day, then that is a career.
4. Financial business is mainly composed of accounting, investment, market rules, and laws. It is the need to understand financial statements, analyze investment opportunities, and the probability of success or failure. You need to have enough capital, know the doors and ways in the market, know the rules of the game, and not involve legal risks.
5. Only those who know the rules of the game can fully control the entire game, otherwise it means risk and failure. Buffett said that the fear of risk is because you don’t know what you are doing.
6. Be clear about what skills you have, what skills you need to learn, turn skills into a combination to achieve your goals, and a single outstanding skill.
7. If you are very proficient in the rules of the game and still unsuccessful, it may be caused by your fear, cynicism, doubts, laziness, bad habits, and conceit.
8. Give yourself a reason for success, and then pay attention to investing in your own assets every day, and ask more successful people to learn from their successful experience. Learn all kinds of skills that will enable you to grow and succeed. If you have money, first invest your own assets to make money, and then use the money you earn to pay for others. Giving generous rewards to professionals in the industry can save you more money and avoid more detours. Don’t be stingy, learn to give and get rewards, the power of trust. The money earned from the asset item can then be used to buy things you like. There must be objects of worship, learn more, and think more from their perspective. Invest in those assets that can recover costs quickly and can remain after the costs are recovered.
9. Don’t do things that can’t increase your assets, you must learn more and expand your thinking. Ask more experts in the industry, and you can also participate in more relevant skills training. When buying anything, you have to bargain. Sometimes people always hope that things can be sold for more than their expected value. Observe the changes and volatility of the market more. Learn more to observe a transaction, whether there are other higher-quality transaction channels, buy at a low price, you have already guaranteed a profit at the time of purchase, instead of waiting for the market to rise and then make a profit. You have to go into a big business to get a high income, but when you can’t find a big business, start small and let your assets compound interest. From now on, the best time to act is.
10. If you want to become rich, you want to continuously convert your labor income into passive income or investment portfolio income. You must protect your assets while increasing your assets. You must learn more about the rules of the game to protect your assets. Moreover, we must observe the rules of the transaction more, whether there is a more suitable channel for bargaining, to ensure that the profit has been made after the purchase, waiting time, it is like waiting for more variables.