What is the Rich Dad Poor Dad investment quote? (2024)

What is the Rich Dad Poor Dad investment quote?

“In today's rapidly changing world, the people who are not taking risk are the risk takers.” “The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.”

What was Robert Kiyosaki's famous quote?

The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.

What is Rule #1 in Rich Dad Poor Dad?

Rule 1: The poor work for money. The rich put their money to work. Do you 'live to work, or work to live? ' This is one of the basic concepts 'Rich Dad, Poor Dad' sheds light on.

What does Rich Dad Poor Dad say about saving?

Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad,” has argued — against conventional wisdom — that “the historical advice to 'save' is no longer a sufficient way to prepare for retirement.” According to him, you won't be able to retire if you rely on saving money alone.

What is an asset in poor dad rich dad?

One of the core concepts in "Rich Dad, Poor Dad" is the difference between assets and liabilities. Kiyosaki's "rich dad" taught him that an asset is anything that puts money in your pocket, while a liability is anything that takes money out of your pocket.

What does Kiyosaki say about money?

In fact, as Robert Kiyosaki rightly said, "It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." Let's break down this quote and evaluate each component: "How much money you keep"

What is Elon Musk's most famous quote?

“When something is important enough, you do it even if the odds are not in your favor.”

What is the 90 10 rule Rich Dad?

As you learn more about money, you'll discover the 90/10 rule: 90 percent of people earn 10 percent of the money in the world. How do they do this? By positioning themselves to have low income and high expenses.

What is the moral of the rich dad poor dad?

Robert Kiyosaki's rich dad advises embracing calculated risks and seeing failures as opportunities for growth. In the world of investing and entrepreneurship, taking risks is inevitable. However, the key lies in educating yourself and making informed decisions rather than acting impulsively.

Why does Robert Kiyosaki say money is debt?

Kiyosaki's approach to debt and investment is rooted in a broader perspective on finance and wealth. He views money as a form of debt or obligation, a tool that can be used for acquiring assets and generating wealth.

What is the biggest takeaway from Rich Dad Poor Dad?

Why your house is not an asset?

When looking at technical definitions, an asset puts money in your pocket. Since your home is costing you money every single month, it's a liability. As a homeowner, you have to spend money on expenses that you can't avoid, like maintenance fees and property taxes.

What is the best asset to buy Robert Kiyosaki?

While most Americans pour their investment money into stocks and bonds, Kiyosaki says they overlook the one asset that everyone can afford and that offers the best financial protection going forward. For Kiyosaki, that asset is silver.

What assets does Kiyosaki buy?

Robert Kiyosaki advocates pursuing assets like real estate, dividend stocks, royalties, businesses, and intellectual property that can produce consistent cash flow with minimal time and effort over the long term.

Which is the best asset to buy?

How did Robert Kiyosaki build his wealth?

Robert Kiyosaki's annual income varies, but he is estimated to earn around $10 million annually. But how does he make money? His primary income sources are book sales, speaking engagements, real estate, precious metals, cryptocurrency investments, financial education programs, and business ventures.

What are the three types of money Robert Kiyosaki?

So there's 3 kinds of income. Earned, portfolio, passive. So earned income is if I get a job, that's earned income. If I'm a doctor or a programmer, that's earned income because I'm working for it.

What is Nikola Tesla's most famous quote?

Nikola Tesla's famous quote, "The desire that guides me in all I do is the desire to harness the forces of nature to the service of mankind," encapsulates his unyielding commitment to improving the lives of humanity through scientific innovation.

What is Steve Jobs most famous quote?

“We're here to put a dent in the universe. Otherwise why else even be here?” This is one of Steve Jobs' most famous and inspiring quotes. At the end of the day, your goals and accomplishments are never about you.

What is Tesla's quote?

“Let the future tell the truth and evaluate each one according to his work and accomplishments. The present is theirs; the future, for which I really worked, is mine.”

What is the rule number 1 of money?

Rule #2: Never forget rule #1.” This is perhaps one of the most famous Buffettisms, and it emphasizes the importance of protecting your capital.

What is the number one rule wealth?

1 – Never lose money. Let's kick it off with some timeless advice from legendary investor Warren Buffett, who said “Rule No. 1 is never lose money.

What is the kiss principle in Rich Dad Poor Dad?

KISS stands for keeping it simple, stupid. Don't be too overload your mind when you are going to start your way to financial freedom. Things are simple and keep them simple. The simple thing to remember is assets put money in pocket and liabilities take money out of pocket.

Why the rich don t work for money?

Kiyosaki hammers home the point that the rich don't simply work for money – they acquire income-producing assets. He focuses on building businesses and developing real estate. This provides more control over income rather than relying on an employer. Real estate can be bought and leveraged to produce rental income.

How can I become powerful and rich?