I had this Rich Dad Poor Dad by Robert Kiyosaki book for like 5 years ago and never had a priority to read the book. Although I found that this book is somehow suspicious for its truth and some say its advises were false and mislead, I think this book is quite entertaining to get me motivated. However, like most of any other motivational books, the reading experience is depending a lot by our own thoughts. Try to see everything with half-empty-glass perspectives and positive mind and you'll gain the benefit.
Overall, the reading experience from reading this book was thrilling. It has gave me tremendous new perspectives and experiences. I gained the benefit, and I hope all people gain it too. So here are some quotes in the book that I took very useful and inspiring. For people who don't want / can't read the whole book, I hope this quotes compilation served you well. Happy reading! :)
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"One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school. Most of us learn about money from our parents. So what can poor parents tell their child about money? they simply say, 'Stay in school and study hard.' The child may graduate with excellent grades, but with a poor person's financial programming and mindset."
"Sadly, money is not taught in schools. Schools focus on scholastic and professional skills, but not on financial skills. This explains how smart bankers, doctors, and accountants who earned excellent grades may be struggle financially all of their lives."
"...by automatically saying the words 'I can't afford it,' your brains stop working. By asking the question 'How can I afford it?' your brain is put to work. He did not mean that you should buy everything you want. He was fanatical about exercising your mind, the most powerful computer in the world."
"One dad said ,'The reason I'm not rich is because I have you kids.' The other said, 'The reason I must be rich is because I have you kids."
"There is a difference between being poor and being broke. Broke is temporary. Poor is eternal."
" The Road Not Taken (Robert Frost)
Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveler, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;
Then took the other, as just as fair,
And having perhaps the better claim
Because it was grassy and wanted wear
Though as for that the passing there
Had worn them really about the same,
And both that morning equally lay
In leaves no step had trodden black.
Oh, I kept the first for another day!
Yet knowing how way leads onto way,
I doubted if I should ever come back
I shall be telling this with a sigh
Somewhere ages and ages hence;
Two roads diverged in a wood, and I-
I took the one less traveled by,
And that has made all the difference."
"Money is one form of power. But what is more powerful is financial education. Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth."
"You work for me, I'll teach you. You don't work for me, I won't teach you. I can teach you faster if you work, and I'm wasting my time if you just want to sit and listen like you do in school. That's my offer. Take it or leave it.
'Ah, may I ask a question first?' I asked.
'No. Take it or leave it. I've got too much work to do to waste my time. If you can't make up your mind decisively, then you'll never learn to make money anyway. Opportunities come and go. Being able to know when to make quick decisions is an important skill. You have the opportunity that you asked for. School is beginning, or it's over in 10 seconds.' "
"If you learn life's lesson, you will do well. If not, life will just continue to push you around. People do two things. Some just let life push them around. Others get angry and push back. But they push back against their boss, or their job, or their husband or wife. They do not know it's life that's pushing."
"Life pushes all of us around. Some people give up and others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something. They learn and move on. Most quit, and a few like you fight."
"If you learn this lesson, you will grow into a wise, wealthy, and happy young man. If you don't you will spend your life blaming a job, low pay, or your boss for your problems. You'll live life always hoping for that big break that will solve all your money problems."
"But the truth is that you let life push you into submission. Deep down you were terrified of taking risks. You really wanted to win, but the fear of losing was greater than the excitement of winning. Deep inside, you and only you will know you didn't go for it. You chose to play it safe."
"You'd best change your point of view. Stop blaming me and thinking I'm the problem. If you think I'm the problem, then you have to change me. If you realize that you're the problem, then you can change yourself, learn something, and grow wiser. Most people want everyone else in the world to change but themselves. Let me tell you, it's easier to change yourself than everyone else."
"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."
"By not giving in to your emotions, you were able to delay your reactions and think."
"Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets."
"An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket."
"If you find you have dug yourself into a hole...stop digging."
"The fear of being different prevents most people from seeking new ways to solve their problems."
"keep expenses low, reduce liabilities, and diligently build a base of solid assets."
"real assets fall into the following categories :
- Business 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, patents
- anything else that has value, produces income or appreciates, and has a ready market."
"Many employers feel that advising their workers to mind their own business is bad for business. But for me, focusing on my own business and developing assets made me a better employee because I now had a purpose. I came in early and worked diligently, amassing as much money as possible so I could invest in real estate."
"Yet as a teacher, I recognized that it was excessive fear and self-doubt that were the greatest detractors of personal genius....Often in the real world, it's not the smart who get ahead, but the bold"
"So why bother developing your financial IQ? Because if you do, you will prosper greatly. And if you don't, this period of time will be a frightening one. It will be a time of watching some people move boldly forward while others cling to worn-out life preservers."
"Financial intelligence is simply having more options. If the opportunities aren't coming your way, what else can you do to improve your financial position?"
"So why would you want to increase your financial intelligence? Because you want to be the kind of person who create your own luck. You take whatever happens and make it better. few people realize that luck is created, just as money is....If you are the kind of person who is waiting for the right thing to happen, you might wait for a long time. It's like waiting for all the traffic lights to be green for five miles before you'll start your trip."
"it is not gambling if you know what you're doing. It is gambling if you're just throwing money into a deal and praying."
"Sometimes you win and sometimes you learn. But have fun."
"Intelligent people are those who work with or hire a person who is more intelligent than they are. When you need advice, make sure you choose your advisor wisely."
"Life is much like going to the gym. The most painful part is deciding to go. Once you get past that, it's easy."
"Financial IQ is made up of knowledge from four broad areas of expertise :
1. Accounting,
2. Investing,
3. Understanding markets,
4. The Law
- Tax advantages
- Protection from lawsuits"
" 'How many of you can cook a better hamburger than McDonald's?' almost all the students raise their hands. I then ask, 'So if most of you can cook a better hamburger, how come McDonald's makes more money than you?'
The answer is obvious : McDonald's is excellent at business systems. The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems."
"The world is filled with talented poor people. All too often, they're poor or struggle financially or earn less than they are capable of, not because of what they know, but because of what they do not know. They focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburger. Maybe McDonald's does not make the best hamburger, but they are the best as selling and delivering a basic average burger."
"The main management skills needed for success are :
1. Management of cash flow
2. Management of systems
3. Management of people"
"The skills of selling and marketing are difficult for most people, primarily due to their fear of rejection. The better you are at communicating, negotiating, and handling your fear of rejection, the easier life is. "
"The fear of losing money is real. Everyone has it. Even the rich. But it's not having fear that is the problem. It's how you handle fear. It's how you handle losing. It's how you handle failure that makes the difference in one's life."
"So for most people, the reason they don't win financially is because the pain of losing money is far greater than the joy of being rich."
"For winners, losing inspires them. For losers, losing defeats them."
"The main reason that over 90 percent of the American public struggles financially is because they play not to lose. They don't play to win."
"To make progress, you must first go unbalanced. Just look at how you make progress walking."
"All of us have doubts: 'I'm not smart.' 'I'm not good enough.' 'So-and-so is better than me.' Our doubts often paralyze us. We play the 'What if?' game. 'What if the economy crashes right after I invest?' 'What if I lose control and I can't pay the money back?' 'What if things don't go as I planned?' Or we have friends or loved ones who will remind us of our shortcomings. They often say, 'What makes you think you can do that?' 'If it's such a good idea, how come someone else hasn't done it?' 'That will never work. You don't know what you're talking about.' These words of doubt often get so loud that we fail to act. A horrible feeling builds in our stomach. Sometimes we can't sleep. We fail to move forward. So we stay with what is safe, and opportunities pass us by. "
"It often takes great courage to not let rumors and talk of doom and gloom affect your doubts and fears."
"Cynics criticize, and winners analyze"
"I-don't-wants hold the key to your success."
"To him, the sky is always going to fall, and it usually does, on him."
" 'I can't afford it' also causes sadness, a helplessness that leads to despondency and often depression. 'How can I afford it?' opens up possibilities, excitement, and dreams."
"Be a little greedy. It's the best cure for laziness."
" 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."
"...The pressure to pay is so great that it forces me to seek other forms of income. The pressure to pay becomes my motivation."
"Every time I have been arrogant, I have lost money. Because when I'm arrogant, I truly believe that what I don't know is not important."
"When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject."
"I wish I could say it was easy. It wasn't. But it wasn't that hard either. I've learned that, without a strong reason or purpose, anything in life is hard."
"The only way I can access their vast mental power is to be humble enough to read or listen to what they have to say. Arrogant or critical people are often people with low self-esteem who are afraid of taking risks. That's because, if you learn something new, you are then required to make mistakes in order to fully understand what you have learned."
"Listening is more important than talking. If that were not true, God would not have given us two ears and only one mouth. Too many people think with their mouth instead of listening in order to absorb new ideas and possibilities. They argue instead of asking questions."
"In today's fast-changing world, it's not so much what you know anymore that counts, because often what you know is old. It is how fast you learn."
"Financial literacy allows one to read numbers, and numbers tell the story."
"Many people only manage people they feel smarter than and they have power over. Many middle managers remain middle managers, failing to get promoted, because they know how to work with people below them, but not with people above them. The real skill is to manage and reward the people who are smarter than you in some technical area."
"...if a person cannot master the power of self-discipline, it is best not to try to get rich."
"Copying and emulating heroes is true power learning."
"Teach and you shall receive : the power of giving."
"Whenever you feel short or in need of something, give what you want first and it will come back in buckets."
"It is true that your world is only a mirror of you."
"There are times when I have given and nothing has come back, or what I have received is not what I wanted. But upon closer inspection and soul searching, I was often giving to receive in those instances, instead of giving for the joy that giving itself brings."
"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."
"Finding a good deal, the right business, the right people, the right investors, ow whatever is just like dating. You must go to the market and talk to a lot of people, make a lot of offers, counteroffers, negotiate, reject, and accept."
"Profits are made in the buying, not in the selling."
"Start early. Buy a book."
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