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Rich Dad, Poor Dad rich_dad_poor_dad (Getting Started (The power of …

- - - - Break dependence on anyone
      - Don't be controlled by fear
      - Look for business opportunities
  - - - An asset puts money into
        your income column
        
        Lower expenses means more money/opportunity for building assets
      - A liability takes money from
        your expenses column
        
        Liabilities should be less than your assets
    - - Delay gratification
      - Look first to buying assets to generate passive income for luxuries
  - - - Increase your assets
      - Generate passive income
    - - Stocks
      - Bonds
      - Income-generating real estate
      - Royalties from IP
        
        Podcasts
        
        Books
        
        Website
      - Businesses that require no involvement
  - - - Business Owners:
        
        Earn
        
        Spend
        
        Pay taxes
      - Employees:
        
        Earn
        
        Pay taxes
        
        Spend
  - - - Knowledge is king
        
        Better assess risk
        
        Able to see what others can't
        
        Creates opportunities
        
        Seek feedback loops to ensure you are learning
        
        Allows for smarter use of the tax system
      - "The Harder I Practice, the Luckier I Get"
    - - Take calculated risks
      - Network
      - Reinvest profits to generate generate greater returns
      - A small profit is better than none
  - - - Be prepared to move jobs
      - Expand your knowledge
        
        Learn broadly
        
        Seek out experts in the area
        
        Know your weaknesses
    - - Learn how to communicate with people
        
        Writing
        
        Speaking
        
        Negotiating
      - Be good at it
    - - Learn how to manage
      - Learn how to treat people
- - - - Embrace failure
        
        Everyone loses from time to time
        
        Educating
        
        Sticks in the memory
        
        "Failure inspires winners, failure defeats loser"
      - Focus on what
        you know
        
        Seek more knowledge
        
        Eggs in fewer high reward baskets
    - - Ignore
        doomsayers
        
        Analyse the issues
        
        Speak to experts
        
        Trust yourself
        
        Never too late
        
        If it was obvious everyone would do then
        there would be no money to be made
      - Be bold
      - Look at the opportunities
        not the issues
    - - Embrace your
        greed
        
        Desire for a better life
        
        Break your childhood
        conditioning
      - Don't hide
        behind busy
      - Stay positive
        
        Rather than:
        "I can't afford this"
        think:
        "How can i afford this?"
        
        Don't let others drag you down
    - - It feels hard because it is hard
      - Find personal
        motivating factors
      - Remember the goal
    - - Stay humble
      - Seek out experts
      - Read on the subject
      - Speak to people
- - - - To travel
      - To be comfortable
      - Nice house
      - Freedom to handle unexpected events
      - Freedom to choose
    - - To be poor
      - Same as my youth
      - To be at the mercy of others
  - - - Be active in generating money
      - Be interested in money
    - - See yourself rich
      - Be prepared for the long haul
    - - Look to grow your knowledge
      - Immerse yourself in a subject
      - Stay open minded
      - Avoid arrogance
        
        The world changes be
        prepared to change with it
        
        Intelligence x arrogance = ignorance
        
        Don't get caught in "old" thinking patterns
  - - - People will have different opinions
      - Trust yourself
    - - Wealth is made on information
      - Getting in earlier is where wealth is made
  - - - Once you master something
        find something else to learn
      - Read books
      - Attend classes
  - - - All of your income can go into assets
      - Investing in assets is the only way to grow a passive income
  - - - Leaving the profit in
        to grow
        
        Look to get something for nothing
        
        Like compound interest
      - Allows you to stop worrying
      - Freer to take risks
  - - - Leads to them "owing you"
      - Improves your image in other's minds
      - Allows for your own growth
        
        Teaching is the best form of learning
- - - - Bitcoin