Rich Dad Poor Dad

“Most people have a price. And they have a price because of human emotions named fear and greed. First, the fear of being without money motivates us to work hard, and then once we get that paycheck, greed or desire starts us thinking about all the wonderful things money can buy. The pattern is then set.”
“What pattern?” I asked.
“The pattern of get up, go to work, pay bills; get up, go to work, pay bills. People’s lives are forever controlled by two emotions: fear and greed. Offer them more money and they continue the cycle by increasing their spending. This is what I call the Rat Race.”

When emotion goes up, intelligence goes down.

• Look for new ideas. Go to bookstores and search for books on different and unique subjects. The book The 16 Percent Solution by Joel Moskowitz taught Robert something new and spurred him to action.
• Find someone who has done what you want to do. Take them to lunch and ask them for tips and tricks of the trade.
• Take classes, read, and attend seminars. Robert searches newspapers and the Internet for new and interesting classes.
• Make lots of offers. You don’t know what the right price is until you have a second party who wants to deal. Most sellers ask too much. It is rare that a seller asks a price that is less than something is worth. It’s fun and only a game. Make offers. Someone might say yes. (And make offers with escape clauses.)

” I don’t want to work all my life. I don’t want what my parents aspired for, which was job security and a house in the suburbs. I don’t like being an employee. I hated that my dad always missed my football games because he was so busy working on his career. I hated it when my dad worked hard all his life and the government took most of what he worked for at his death. He could not even pass on what he worked so hard for when he died. The rich don’t do that. They work hard and pass it on to their children.
Now the “wants.” I want to be free to travel the world and live in the lifestyle I love. I want to be young when I do this. I want to simply be free. I want control over my time and my life. I want money to work for me.

“The primary difference between a rich person and a poor person is how they manage fear.”

Eleanor Roosevelt said it best: “Do what you feel in your heart to be right—for you’ll be criticized anyway. You’ll be damned if you do, and damned if you don’t.”

just sort of pushes you around. Each push is life saying, ‘Wake up. There’s something I want you to learn.’”

#1: “The rich don’t work for money.”

The lesson: The increases in income are going to entrepreneurs and investors, not to employees—not to the people who work for money.

As I said earlier, if a person cannot master the power of self-discipline, it is best not to try to get rich. I say this because, although the process of developing cash flow from an asset column is easy in theory, what’s hard is the mental fortitude to direct money to the correct use. Due to external temptations, it is much easier in today’s consumer world to simply blow money out the expense column. With weak mental fortitude, that money flows into the paths of least resistance. That is the cause of poverty and financial struggle.