Rich Dad Poor Dad

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” (Location 280)

People’s lives are forever controlled by two emotions: fear and greed. (Location 720)

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets. (Location 1111)

In 1984, I began teaching via games and simulations, and I still rely on these tools today. I always encourage adult students to look at games as reflecting back to them what they know and what they need to learn. Most importantly, games reflect behavior. They are instant feedback systems. Instead of the teacher lecturing you, the game is giving you a personalized lecture, one that is custom-made just for you. (Location 2209)

1.  Find an opportunity that everyone else missed.            You see with your mind what others miss with their eyes. For example, a friend bought this rundown old house. It was spooky to look at. Everyone wondered why he bought it. What he saw that we did not was that the house came with four extra empty lots. He discovered that after going to the title company. After buying the house, he tore the house down and sold the five lots to a builder for three times what he paid for the entire package. He made $75,000 for two months of work. It’s not a lot of money, but it sure beats minimum wage. And it’s not technically difficult. (Location 2503)

Rich dad went on. “What I like best is the Texas attitude. They’re proud when they win, and they brag when they lose. Texans have a saying, ‘If you’re going to go broke, go big.’ You don’t want to admit you went broke over a duplex.” He constantly told Mike and me that the greatest reason for lack of financial success was because most people played it too safe. “People are so afraid of losing that they lose” were his words. (Location 3050)

Rich dad believed that the words “I can’t afford it” shut down your brain. “How can I afford it?” opens up possibilities, excitement, and dreams. (Location 3238)