Rich Dad Poor Dad Lesson 2

Lesson Two:Why Teach Financial Literacy?

  1. We can work or not work, and our wealth grows automatically, staying way ahead of inflation. I guess it means freedom. The assets are large enough to grow by themselves. It’s like planting a tree. You water it for years and then one day it doesn’t need you anymore. It’s roots have gone down deep enough. Then, the tree provides shade for your enjoyment.
  2. Intelligence solves problems and produces money. Money without financial intelligence is money soon gone.
  3. Rule One. Buy assets. Rich people acquire assets.
  4. What is missing from their education is not how to make money, but how to spend money-what to do after you make it.
  5. More money seldom solves someone’s money problems. Intelligence solves problems
  6. When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.
  7.         Why the Rich Get Richer Income -> Assets -> More Income Expenses are low,                                                              Liabilities are low
  8.         Why the Middle Class Struggle Income goes up, Expenses go up Assets do not                                                                    increase, Liabilities do increase
  9. Concentrate your efforts on only buying income-generating assets.
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