A person can be highly educated, professionally successful, and financially illiterate.
Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.
Here are some lessons from the book "RICH DAD POOR DAD"
🔰 The Rich Don't Work For Money:
Instead of just working for a paycheck, rich people find ways to make their own money work for them. They invest in things likereal estate, stocks, or businesses that bring in money without them having to be there all the time.
🔰 Mind Your Own Business:
Focus on building your own financial security. Even if you have a job, start investing in assets like rental properties, stocks or small businesses. This way, you are creating additional sources of income.
🔰 The Importance of Financial Education:
Keep learning about money and how it works. The more you know about things like investing, taxes, and managing money, the better decisions you will make. This knowledge helps you spot opportunities and avoid mistakes.
🔰 The Power of Corporations:
Learn how to use corporations to your advantage. By running your investments or businesses through a corporation, you can save on taxes amd protect your personal assests. It's a smart way to manage amd growth wealth.
🔰 The Rich Invest Money:
Rich people are always looking for new ways to make money. They are creative and think outside the box. This could mean starting a new business, finding a unique investment, or developing a new product.
🔰 Work to Learn---Not for Money:
Early in your career, focus on gaining skills and knowledge rather than just earning a high salary. The experience and abilities you gain will help you make more money in the long run, whether through investments or your own business.
PS: Kiyosaki reminds people that financial IQ is made up of knowledge from four broad areas of expertise:
1. Accounting
2. Investing
3. Understanding markets
4. The law
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