Rich Dad Poor Dad
by Robert T. Kiyosaki
Two fathers, two money mindsets: one works for money, the other makes money work for him.
5 key ideas
Assets feed you, liabilities eat you
The book's simplest test: if it puts money in your pocket, it is an asset; if it takes money out, it is a liability, whatever the bank calls it.
Your house may not be an asset
A home you live in costs mortgage, tax and repairs every month. It can be a good choice, but it does not pay you.
Mind your own business
Keep your job, but build a column of assets on the side. Your profession and your business are different things.
Work to learn, not only to earn
Early jobs are tuition. Sales, communication and accounting skills compound longer than any single salary.
Fear keeps people on the treadmill
Raises lead to bigger spending, not freedom. Noticing that loop is the first step out of it.
Who it's for
Anyone starting their first job, or anyone whose income has grown but whose savings have not.
Try this week
List everything you own in two columns, money in and money out, for one month. Most people are surprised by the second column.
