Rich Dad Poor Dad in Short.

Hey guys, first of all, thanks for turning in and reading my very first article on medium.

I’ll discuss some of the key features which I learned in the book, “Rich Dad, Poor Dad” by Robert T Kiyosaki.

The story starts from a nine year old boy named Robert. His father worked in government as a school teacher.

Robert lived in the richer half of the city. So he was able to go to a school where the rich people sent their children.

One day, one of the Robert’s friend was going to their farm house i guess 😅.

Robert also wanted to go with him. But the boy said that Robert was poor so he didn’t took Robert with him.

Robert had a friend named Mike.

So now, to tell in short, Mike’s father was a person with rich mindset.

After this incident, Robert wanted to become rich. He asked his father “how to become rich ?” Robert’s father told the two to ask Mike’s father.

Mike’s father agreed and taught both for the next 30 years.

Mike’s father (the rich dad) became the Richest man in hawaii in the future.

Rich Dad taught 6 lessons to them :

1. The Rich Don’t Work for Money. If you are working for money, then you are doing a huge mistake. You must work for your happiness. If you are happy enough, you can even work for 15 of 16 hours a day. In modern times this is known as passion. Find your passion and you will become financially free in a short time.
2. Why Teach Financial Literacy ?. In this chapter, the author discusses about the schools system and that how the financial knowledge is hidden from us. Academic knowledge is taught in schools but the financial knowledge is not. Financial knowledge must be taught to children from their childhood so that they can become successful in their lives and become financial free.
3. Mind Your Own Business. In this chapter, Robert tells that his Rich dad told him to do his daytime job and to start accumulating real assets which will help Robert in the long term. He also told Robert to not to interfere in any other’s matter and try to mind his own business.
4. The History of Taxes and the Power of Corporations. This chapter is by far the biggest chapter in the book. Robert talks about the taxes and how rich people pay less taxes. This chapter gives us insights about the tax benefits and the powers of a corporation. The people who have a corporation registered pay less in respect to other normal citizens.
5. The Rich Invent Money.
6. Work to Learn — Don’t Work for money.

Sorry guys, I am reading the last two chapters right now. I’ll edit the story after reading those two chapters. Sorry for the inconvenience 😅.

Stay tuned for the next story. A small sneak peak about the next story is given below.

So now, in the next story, I’ll discuss about what I learnt from this book.

Thanks for reading my first medium story. If you want to give me any feedback, feel free to reach me out on twitter at @mkpatils

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