'A must read for anyone wanting to improve their financial future, as well as for millionaires', according to Paul Zane Pilzer, multiple time Presidential Financial Advisor, and Author.
The book is a book that is entertaining and very powerful because it is staged at a time when the authors best friend and he learn the lessons that most gurus learn, but in a way that's designed
to make these lessons simple and very life changing.
If you don't plan on doing anything else about your financial future in these uncertain Economic times of recession, etc., then 'Rich Dad Poor Dad' would be enough to hold you and improve your life.
____________________
Here is a reading of the book by Robert Kiyosaki himself, as well as a written portion for you that is as follows from Ch. 3. Enjoy!
"Rule No. 1 You must know the difference between an asset and a liability, and buy assets. If you
want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound
absurdly simple, but most people have no idea how profound this rule is. Most people struggle
financially because they do not know the difference between an asset and a liability.
“Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets”
When rich dad explained this to Mike and me, we thought he was kidding. Here we were, nearly
teenagers and waiting for the secret to getting rich, and this was his answer. It was so simple that we had to stop for a long time to think about it.
“What is an asset?” asked Mike.
“Don’t worry right now,” said rich dad. “Just let the idea sink in. If you can comprehend the
simplicity, your life will have a plan and be financially easy. It is simple; that is why the idea is
missed.”
“You mean all we need to know is what an asset is, acquire them and we’ll be rich?” I asked.
Rich dad nodded his head. “It’s that simple.”
The book is a book that is entertaining and very powerful because it is staged at a time when the authors best friend and he learn the lessons that most gurus learn, but in a way that's designed
to make these lessons simple and very life changing.
If you don't plan on doing anything else about your financial future in these uncertain Economic times of recession, etc., then 'Rich Dad Poor Dad' would be enough to hold you and improve your life.
____________________
Here is a reading of the book by Robert Kiyosaki himself, as well as a written portion for you that is as follows from Ch. 3. Enjoy!
"Rule No. 1 You must know the difference between an asset and a liability, and buy assets. If you
want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound
absurdly simple, but most people have no idea how profound this rule is. Most people struggle
financially because they do not know the difference between an asset and a liability.
“Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets”
When rich dad explained this to Mike and me, we thought he was kidding. Here we were, nearly
teenagers and waiting for the secret to getting rich, and this was his answer. It was so simple that we had to stop for a long time to think about it.
“What is an asset?” asked Mike.
“Don’t worry right now,” said rich dad. “Just let the idea sink in. If you can comprehend the
simplicity, your life will have a plan and be financially easy. It is simple; that is why the idea is
missed.”
“You mean all we need to know is what an asset is, acquire them and we’ll be rich?” I asked.
Rich dad nodded his head. “It’s that simple.”
“If it’s that simple, how come everyone is not rich?” I asked.
Rich dad smiled. “Because people do not know the difference between an asset and a liability.”
I remember asking, “How could adults be so silly. If it is that simple, if it is that important, why
would everyone not want to find out?”
It took our rich dad only a few minutes to explain what assets and liabilities were.
As an adult, I have difficulty explaining it to other adults. Why? Because adults are smarter. In
most cases, the simplicity of the idea escapes most adults because they have been educated
differently. They have been educated by other educated professionals, such as bankers,
accountants, real estate agents, financial planners, and so forth. The difficulty comes in asking adults to unlearn, or become children again. An intelligent adult often feels it is demeaning to pay attention to simplistic definitions.
Rich dad believed in the KISS principle-”Keep It Simple Stupid”-so he kept it simple for two young boys, and that made the financial foundation strong.
So what causes the confusion? Or how could something so simple be so screwed up? Why
would someone buy an asset that was really a liability. The answer is found in basic education.
We focus on the word “literacy” and not “financial literacy.” What defines something to be an
asset, or something to be a liability are not words. In fact, if you really want to be confused, look up the words “asset” and “liability” in the dictionary. I know the definition may sound good to a trained accountant, but for the average person it makes no sense. But we adults are often too proud to admit that something does not make sense.
As young boys, rich dad said, “What defines an asset is not words but numbers. And if you
cannot read the numbers, you cannot tell an asset from a hole in the ground.”
“In accounting,” rich dad would say, “it’s not the numbers, but what the numbers are telling you.
It’s just like words. It’s not the words, but the story the words are telling you.
Many people read, but do not understand much. It’s called reading comprehension. And we all
have different abilities when it comes to reading comprehension. For example, I recently bought a new VCR. It came with an instruction book that explained how to program the VCR. All I wanted to do was record my favorite TV show on Friday night. I nearly went crazy trying to read the manual. Nothing in my world is more complex than learning how to program my VCR. I could read the words, but I understood nothing. I get an “A” for recognizing the words. I get an “F” for comprehension. And so it is with financial statements for most people.
“If you want to be rich, you’ve got to read and understand numbers.” If I heard that once, I heard it a thousand times from my rich dad. And I also heard, “The rich acquire assets and the poor and middle class acquire liabilities.”
Here is how to tell the difference between an asset and a liability. Most accountants and financial
professionals do net agree with the definitions, but these simple drawings were the start of strong financial foundations for two young boys.
To teach pre-teen boys, rich dad kept everything simple, using as many pictures as possible, as
few words as possible, and no numbers for years."
__________________________
Thank you. I have been happy to share with you today some value that will change your life. Now you are armed with the information and I hope you liked it. If you'd like to see how to make a ton of money in your life, I will show you how a business can be the greatest investment you will ever have.
For FREE Business Info... http://Pearlcium.com/Peter
Rich dad smiled. “Because people do not know the difference between an asset and a liability.”
I remember asking, “How could adults be so silly. If it is that simple, if it is that important, why
would everyone not want to find out?”
It took our rich dad only a few minutes to explain what assets and liabilities were.
As an adult, I have difficulty explaining it to other adults. Why? Because adults are smarter. In
most cases, the simplicity of the idea escapes most adults because they have been educated
differently. They have been educated by other educated professionals, such as bankers,
accountants, real estate agents, financial planners, and so forth. The difficulty comes in asking adults to unlearn, or become children again. An intelligent adult often feels it is demeaning to pay attention to simplistic definitions.
Rich dad believed in the KISS principle-”Keep It Simple Stupid”-so he kept it simple for two young boys, and that made the financial foundation strong.
So what causes the confusion? Or how could something so simple be so screwed up? Why
would someone buy an asset that was really a liability. The answer is found in basic education.
We focus on the word “literacy” and not “financial literacy.” What defines something to be an
asset, or something to be a liability are not words. In fact, if you really want to be confused, look up the words “asset” and “liability” in the dictionary. I know the definition may sound good to a trained accountant, but for the average person it makes no sense. But we adults are often too proud to admit that something does not make sense.
As young boys, rich dad said, “What defines an asset is not words but numbers. And if you
cannot read the numbers, you cannot tell an asset from a hole in the ground.”
“In accounting,” rich dad would say, “it’s not the numbers, but what the numbers are telling you.
It’s just like words. It’s not the words, but the story the words are telling you.
Many people read, but do not understand much. It’s called reading comprehension. And we all
have different abilities when it comes to reading comprehension. For example, I recently bought a new VCR. It came with an instruction book that explained how to program the VCR. All I wanted to do was record my favorite TV show on Friday night. I nearly went crazy trying to read the manual. Nothing in my world is more complex than learning how to program my VCR. I could read the words, but I understood nothing. I get an “A” for recognizing the words. I get an “F” for comprehension. And so it is with financial statements for most people.
“If you want to be rich, you’ve got to read and understand numbers.” If I heard that once, I heard it a thousand times from my rich dad. And I also heard, “The rich acquire assets and the poor and middle class acquire liabilities.”
Here is how to tell the difference between an asset and a liability. Most accountants and financial
professionals do net agree with the definitions, but these simple drawings were the start of strong financial foundations for two young boys.
To teach pre-teen boys, rich dad kept everything simple, using as many pictures as possible, as
few words as possible, and no numbers for years."
__________________________
Thank you. I have been happy to share with you today some value that will change your life. Now you are armed with the information and I hope you liked it. If you'd like to see how to make a ton of money in your life, I will show you how a business can be the greatest investment you will ever have.
For FREE Business Info... http://Pearlcium.com/Peter
