12 Lessons from Rich Dad Poor Dad that Changed My Life

Have you read the book Rich Dad Poor Dad? This book changed my life and I want to share my review of Rich Dad Poor Dad with you all and how it has affected me as an entrepreneur. Keep watching to learn what lessons I learned from this book.

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0:00 Intro
0:31 Lesson #1
0:47 Lesson #2
1:15 Lesson #3
1:31 Lesson #4
1:48 Lesson #5
2:02 Lesson #6
2:17 Lesson #7
2:39 Lesson #8
3:25 Lesson #9
3:46 Lesson #10
4:23 Lesson #11
5:00 Lesson #12
5:38 Lesson #13
5:50 Lesson #14
6:14 Lesson #15
7:07 Lesson #16
7:58 Lesson #17
8:38 Lesson #18

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I've read hundreds of books on business Finance and investing but the one that Started it all was a classic this one Right here Rich Dad Poor Dad so today I Want to share with you some of the most Important lessons from this book that Really stuck with me and have made a Difference over the last 10 or 15 years Of my life So let's start out with the biggest Lesson of the whole book the rich make Their money work for them instead of Just working for money in other words The only way to make money isn't just Going to work putting in the work and Spending your time doing the work you Can also buy stuff that makes you money Rich people collect assets poor people Collect liabilities assets are things That put money into your pocket every Month and liabilities are things that Cost you money every month and poor People tend to collect liabilities Whereas rich people spend their money Instead on assets a lot of people think That their biggest asset is their house But as long as you're just living in Your house your house is costing you Money every month and it's actually a Liability it only becomes an asset if You rent it out or sell it school Teaches us that making mistakes is a bad Thing and it punishes us when we make Mistakes but in order to become wealthy

We have to learn from our mistakes Falling down and getting back up is the Greatest teaching experience in life and It's how we'll do better and better over Time talk about money rich people tend To talk about money whereas poor people Consider a taboo topic but talking about Money allows us to learn from others and Become more financially Savvy most of The time working harder is not the key To success if what you're doing isn't Working don't just try harder remember That definition of insanity well it Applies here too if what you're doing Isn't working you need to rethink what You're doing and try something different Don't say I can't afford it in Rich Dad Poor Dad Robert Kiyosaki talks about a Major mindset shift when you can't Afford something instead of saying I Can't afford it ask the question how can I afford it and then work on answering That question we Face choices every Moment of every day and the decisions we Make affect where our lives go we get to Decide where our life lives are headed And the destination that we end up at And how we decide where we end up is by All of the little tiny choices that seem Inconsequential in the moment pay Yourself first this is going to both Build your wealth faster and motivate Yourself to put more effort into this Project of building your wealth and when

Robert Kiyosaki says pay yourself first He specifically means setting up Automatic transactions that deposit Money into your savings and investing Accounts at the beginning of the month So that that money is set aside and is Now building your wealth and then at the End of the month if you don't have Enough to pay your bills let that Motivate you to go out there and figure Out how to make some more money to pay Those bills because you'll find the need To pay those bills a lot more motivating And feel a lot more urgent about that Than you will if you are just trying to Motivate yourself by the desire to save More money busy people can be the the Laziest most people just want to do the Easy thing of showing up to work every Day and doing what they've always done Instead of doing the harder mental work Of figuring out better ways to do things And better ways to earn money and to Grow their wealth quit focusing on Toilets so many people let the potential Challenges of different options Different ideas different opportunities Become their excuses and when I say quit Focusing on toilets I'm talking about When people so often say I don't want to Invest in real estate or have rentals Because I don't want to be fixing Toilets of my renters in the middle of The night I've heard this so often from

People but there's an easy solution you Just hire a property manager to take Care of the maintenance for you there Are solutions to every problem but every Problem also can be an excuse if you're Looking for excuses be generous right Now most people think that once they Become wealthy then they will become Generous then they will start giving They want to First receive and then they Say that they'll give but you have to Take the first step if you want to get Help you need to start by giving help to Others if you want to learn then you Need to start by sharing what you know And if you want to get more money then You need to start by sharing what you Have right now this creates a mentality Of abundance and opens up the doors to Many more opportunities when it comes to Assets and liabilities your mind is your Most valuable asset it is the most Valuable thing you have that can earn You much much more money if you have the Know-how so invest in your mind by Investing in education and in learning And in knowledge I've spent thousands And thousands of dollars on online Courses and books that have taught me so Much in fact they've taught me basically Everything I know about how to make Money online how to make money with Investing and they've been so worth the Money I've spent on them start minding

Your own business quit working to make a Boss rich and instead switch to working For yourself so that you can keep 100 of The profits that you are creating this Also allows you to leverage your time And start earning passive income a lot Of people dream of becoming successful But few ever do and the thing that makes The difference is that the people who Become successful are the people who Show up and take action and keep taking Action and as long as you keep moving Forward you will become successful but If you don't do anything you definitely Won't a lot of people say that they Aren't interested in money or that money Isn't important to them and so they Refuse to talk about it and they also Refuse to think about it now they might Do this because money intimidates them Or they feel overwhelmed by it it or Because they feel like they're a better Person if they don't care about money But their actions bely them their Actions are that they go to work every Single day they spend most of their time Working they let work cause them to miss Their kids soccer games or Miss dinner With their family and that shows that Working for money really is one of their Top priorities but because they deceive Themselves into thinking that money Isn't interesting or isn't important to Them they avoid thinking about it and

They never make any progress in that Area of their life figuring out how they Can work less and earn more and build Wealth over time most people will never Win because they're scared of losing Psychology tells us that the fear of Losing something is greater than the Anticipation of the joy that you would Get from getting something and this Causes people to never take risks or Invest because they're scared that they Might lose the money you that they Invested but this holds them back Because you can never create bigger and Better results you can never get a Return on your investment if you don't Make that initial investment you can Never have a successful business venture If you never step out in faith and give Starting a business a try you can never Build a portfolio of millions of dollars Of real estate if you are scared that Maybe something will happen with that First rental you buy so you never buy it To create Financial Freedom you have to Overcome fear surround yourself with People who are smarter than you being The smartest person in the room isn't Going to do you any good but surrounding Yourself with experts will give you two Things one you will learn from them and You will be able to increase your Financial knowledge and find new Opportunities and the other thing that

Will happen is it means that you don't Have to be an expert at everything and Instead you can work on just being a Generalist and learning more about how To make money and when you need an Expert at a specific thing you can hire Them because you already know them more Money won't solve your problems let me Say it again more money won't solve your Problems however you are handling your Finances right now will only be Amplified when you have more money or if You have more money right after you're Living paycheck to paycheck on a small Salary if your salary increases you'll Find yourself living paycheck to Paycheck on that larger salary to build Wealth and true Financial Freedom you Have to start making smart financial Decisions right now here's an easy way To invest in learning right now I have a Free course called small business 101 That will teach you how to start your Own business and start working for Yourself you can find the link in the Description below to sign up for the Free course right now thank you so much For watching for more videos like this Make sure you're subscribed to my Channel and if you are then I'll see you Next week with another one