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Rich Dad Poor Dad

Rich Dad Poor Dad

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Never forget that fear and desire can lead you into life’s biggest trap if you’re not aware of them controlling your thinking. To spend your life living in fear, never exploring your dreams, is cruel. To work hard for money, thinking that it will buy you things that will make you happy is also cruel. To wake up in the middle of the night terrified about paying bills is a horrible way to live. To live a life dictated by the size of a paycheck is not really living a life. Thinking that a job makes you secure is lying to yourself. That’s cruel, and that’s the trap I want you to avoid. I’ve seen how money runs people’s lives. Don’t let that happen to you. Please don’t let money run your life.” — location: 844 ^ref-58811

No one asks, ‘Is there something I’m missing here?’ which would break through the emotional thought and give you time to think clearly.” — location: 899 ^ref-59310

A person can be highly educated, professionally successful, and financially illiterate. — location: 1256 ^ref-3777

when it comes to money, high emotions tend to lower financial intelligence. — location: 1311 ^ref-48867

This pattern of treating your home as an investment, and the philosophy that a pay raise means you can buy a larger home or spend more, is the foundation of today’s debt-ridden society. — location: 1362 ^ref-32625

Mind your own business. Financial struggle is often directly the result of people working all their lives for someone else. Many people will simply have nothing at the end of their working days to show for their efforts. — location: 1620 ^ref-4560

Businesses that do not require my presence I own them, but they are managed or run by other people. If I have to work there, it’s not a business. It becomes my job.       •   Stocks       •   Bonds       •   Income-generating real estate       •   Notes (IOUs)       •   Royalties from intellectual property such as music, scripts, and patents       •   Anything else that has value, produces income or appreciates, and has a ready market — location: 1677 ^ref-7200

Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities. — location: 1691 ^ref-10771

I don’t encourage anyone to start a company unless they really want to. Knowing what I know about running a company, I wouldn’t wish that task on anyone. There are times when people can’t find employment and starting a company seems like the best solution. But the odds are against success: Nine out of ten companies fail in five years. Of those that survive the first five years, nine out of every ten of those eventually fail as well. So only if you really have the desire to own your own company do I recommend it. Otherwise, keep your day job and mind your own business. — location: 1704 ^ref-34032

Starting a company doesn’t seem to be a really good idea unless I have a really great idea and a mathematically viable business plan.

Buying a luxury on credit often causes a person to eventually resent that luxury because the debt becomes a financial burden. — location: 1722 ^ref-2743

The harder you work, the more you pay the government. — location: 1902 ^ref-42629

The problem with “secure” investments is that they are often sanitized, that is, made so safe that the gains are less. — location: 2434 ^ref-63844

In every city, I hear people say you cannot buy real estate cheap. That is not my experience. Even in New York or Tokyo, or just on the outskirts of the city, prime bargains are overlooked by most people. In Singapore, with their high real estate prices, there are still bargains to be found within a short driving distance. — location: 2473 ^ref-13829

If you want to be the second type of investor, you need to develop three main skills. — location: 2502 ^ref-58608

The main management skills needed for success are:       1.  Management of cash flow       2.  Management of systems       3.  Management of people — location: 2868 ^ref-28724

If you have little money and you want to be rich, you must first be focused, not balanced. — location: 3103 ^ref-51039

If most people understood how a “stop” worked in stock-market investing, there would be more people investing to win instead of investing not to lose. — location: 3205 ^ref-42809

A stop is simply a computer command that sells your stock automatically if the price begins to drop, helping to minimize your losses and maximize some gains. It’s a great tool for those who are terrified of losing. — location: 3206 ^ref-34488

Without that little greed, the desire to have something better, progress is not made. Our world progresses because we all desire a better life. — location: 3264 ^ref-4014

1.    Find a reason greater than reality: the power of spirit — location: 3464 ^ref-46418

2.    Make daily choices: the power of choice — location: 3486 ^ref-32563

3.    Choose friends carefully: the power of association — location: 3528 ^ref-31759

If a great deal is on the front page, it’s too late in most instances. Look for a new deal. — location: 3549 ^ref-39300

“There is always another wave.” People who hurry and catch a wave late usually are the ones who wipe out. — location: 3550 ^ref-41376

4.    Master a formula and then learn a new one: the power of learning quickly — location: 3561 ^ref-36413

5.    Pay yourself first: the power of self-discipline — location: 3583 ^ref-4390

6.    Pay your brokers well: the power of good advice — location: 3656 ^ref-31578

Why would I want to save a few bucks when I could use that time to make more money or spend it with those I love? — location: 3669 ^ref-39051

7.    Be an Indian giver: the power of getting something for nothing — location: 3685 ^ref-29162

Ray Kroc, of McDonald’s fame, sold hamburger franchises, not because he loved hamburgers, but because he wanted the real estate under the franchise for free. — location: 3711 ^ref-18911

8.    Use assets to buy luxuries: the power of focus — location: 3714 ^ref-7990

9.    Choose heroes: the power of myth — location: 3762 ^ref-5606

10.  Teach and you shall receive: the power of giving — location: 3782 ^ref-6388

Stop doing what you’re doing. In other words, take a break and assess what is working and what is not working. The definition of insanity is doing the same thing over and over and expecting a different result. Stop doing what is not working, and look for something new. — location: 4000 ^ref-26580

Look for new ideas. For new investing ideas, I go to bookstores and search for books on different and unique subjects. I call them formulas. I buy how-to books on formulas I know nothing about. — location: 4003 ^ref-50993

Find someone who has done what you want to do. Take them to lunch and ask them for tips and tricks of the trade. — location: 4010 ^ref-49676

Take classes, read, and attend seminars. — location: 4015 ^ref-22904

Make lots of offers. When I want a piece of real estate, I look at many properties and generally write an offer. If you don’t know what the right offer is, neither do I. — location: 4019 ^ref-10738

I always make offers with escape clauses. In real estate, I make an offer with language that details “subject-to” contingencies, such as the approval of a business partner. Never specify who the business partner is. Most people don’t know that my partner is my cat. — location: 4032 ^ref-5643

Jog, walk, or drive a certain area once a month for 10 minutes. I have found some of my best real estate investments doing this. — location: 4040 ^ref-32381

Shop for bargains in all markets. — location: 4050 ^ref-29225

When the supermarket has a sale, say on toilet paper, the consumer runs in and stocks up. But when the housing or stock market has a sale, most often called a crash or correction, the same consumer often runs away from it. — location: 4050 ^ref-44417

Look for people who want to buy first. Then look for someone who wants to sell. — location: 4060 ^ref-17643

The key to financial freedom and great wealth is a person’s ability to convert earned income into passive and/or portfolio income. — location: 4203 ^ref-31469

You may know it is time to change if you are saying things like the following statements:       •   “I’m working with dead people.”       •   “I love what I do, but I wish I could make more money.”       •   “I can’t wait for the weekend.”       •   “I want to do my own thing.”       •   “Is it quitting time yet?” — location: 4567 ^ref-46596

Last update : 21 septembre 2023
Created : 21 septembre 2023