Top 10 Things I Learnt From Rich Dad Poor Dad [FIRST NAME GOES HERE] !
Hello Reader !
My Younger Son Gifted Me This book about 7 years ago when he was 11.
And I am sharing the Top Things I learnt from this book.
1.Rich People Buy Time With Money. Poor People Sell Time For Money.
Today. I will do whatever it take to save my time. viz. Automate, Delegate or Completely Delete Unwanted Activities. I believe that Time is my Most Precious Asset. And All Rich People Guard Their Time.
2. Difference Between Assets v/s Liabilities
This was a shocker after being a Ranker Chartered Accountant.
A Car on EMI, or a Home on EMI (Unless Value is Appreciating) is NOT AN ASSET !
Although we Chartered Accountants put this on the ASSET SIDE !
WHY ?
Anything that Puts Money in your Pocket is an Asset.
And Anything that Takes Money from your Pocket is a Liability .
3. Difference Between Earning Money v/s Investing Money.
Its not the amount of Money that you EARN which is going to make you financially free.
Its the amount of Money that you KEEP AND INVEST is going to make you financially free.
Remember,
Cash is Not King.
Cashflow is King.
4. The Love for Money is Not The Root of All Evil. But The Lack of Money is the Root of all Evil.
You have to have enough Money to live the Good life.
Only those people who are flat broke mention that Money is Not Important in Life.
5. Pay Yourself First.
Based on the Babylonian Rules, This Rule says that whatever you earn, the first % is yours to keep.
Mostly people pay everyone and everything else first. And only then whatever is left, they pay themselves.
Sadly, Nothing is left after that !
Pay Yourself First!
All the time. Every time.
6. Fear of Missing Out.
Most People Want to Look Rich.
But They Don't Want to Become Rich.
Stop indulging on luxuries which you cannot afford but are forced to buy for the social media posts.
And You will become financially free faster than you can imagine.
7. The More You Learn, The More You Earn.
You Got to be a life long learner.
I have invested lakhs of Rupees in my coaching and Training.
Because the Best Investment you can make is the Investment in Yourself.
8. Difference Between Income Tax V/s Corporate Tax
Income Tax we pay on Income
Corporate Tax we pay on Profits.
Think at a Corporate Level and you can save a significant amount of tax.
9. Passive Income is Powerful.
Focus on developing Passive Sources of Income.
For E.g. I have several Passive Sources of Income, Youtube Revenue, Book Royalties, Automated Online Courses, (mostly High Ticket), Affiliate Programs, Partner Collaborations, Brand Deals etc.
10. Difference Between Sight & Vision.
Sight is what you see with your Casual Eyes.
Vision is what you see with your Inner Eyes.
Which is your favourite out of these top 10 ?
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Think & Grow Rich Academy
Napoleon Hill Foundation- India 🇮🇳
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