Introduction Rich Dad, Poor Dad is a book that educates readers about financial literacy. Robert Kiyosaki, the author, has two dads – one rich and one poor, although the rich dad is not his, but his friend’s dad. Both dads have different views about earning money, and Robert had the choice of contrasting both views while growing up. His rich dad’s views were more powerful and useful to Robert. The author guides the reader through six main lessons his rich dad taught him on how to let money work for you, instead of working for money.
And the vast majority of those people have never been taught good money management techniques. They simply don’t know any better. This is something we need to change and change NOW. I firmly believe that when people are equipped with the correct financial information, they can better take control of their lives and their futures – it’s why the program offered at F... ... middle of paper ... ...cisions made following high school will impact their long-term wealth building skills, and ultimately the nation’s economy. And for those folks trying to get a loan who perhaps don’t have these skills, it will likewise help them be able to maintain their homes and lifestyles through tough economic times.
HUD helps first time home buyers become contributors to the American economic stream. HUD requires buyers to attend financial classes, to understand and successfully save the correct down payment, and to also put in sweat equity into their pending new home. This three way approach to home buying is an established best practice for home buyers. Non HUD home buyers do not always know the important information needed in buying and owning a home. Capitalizing on HUDs approach and showing the home owner how to make the most of their investment is a great solution to red... ... middle of paper ... ... homes purchased that cannot be afforded, plummeting property values, a group of consumers not prepared for unexpected expenses and emergencies, poor refinance decisions and bank lending practices needing reform.
It is nice to learn this early in life. As a child and an adult, it is good to learn patience and this game in many ways teaches us that. Every turn in this game takes a little time, especially as the properties have been bought because you can only add houses or hotels on your turn. We must also plan and not just buy everything up, if you buy without discipline when investing, you will just have to hope the market behaves in your favor. Investors don’t invest based on hope, they invest with a disciplined approach.
Since businesses are now completely dependent upon the customers, these businesses now have incentive to offer high quality products at the lower prices. It is... ... middle of paper ... ...to short sightedness and greed. I believe, however, that these crashes can be avoided so long as the citizens do not let greed control them. My solution is to have an educated and informed population before allowing the consumers total control of the marketplace. While the CEOs profit of the hardships and shortsightedness of many, we, as a society, must take control.
Now what does that mean? Sounds wrong to me, I was taught to never underestimate others. Now during the entire show they would focus in on this point and try to prove that J.P. Morgan could and would make me money off others mistakes. The funds in most companies are run according to principles of behavioral finance, which means they are run according to behavior repetition. They believe that people are illogical, yet predictable.
Successful people had been proclaimed by Steve Siebold to being focused on their logical thought about money. On his book ‘How Rich People Think”, he claimed that the rich people set aside the involvement of emotion and lets their reason be their guide in reaching their high-set goals. Through this, they are able to disregard the psychological chains that may bind with them in their strategies in earning money. Also when such downfalls of business came, they tend to take this as an opportunity to expand their reasoning on earning money to have more leverage and not to cover up their loss for protecting themselves in the view of the other people towards them. No disappointments could easily overtake their minds instead, they use their logic to dictate more financial strategies and manipulate the interference of emotion as a motivation and not of any psychological chains as said earlier.
This is as opposed to merely using your profession on its own to build net worth. This idea elaborates on his comparison between his “rich dad” and his “poor dad”. While his “poor dad” encourages him to do well in school so he can work for a good company, his “rich dad” encourages him to work towards buying and owning his own company to boost his available means. In addition to buying businesses, Kiyosaki also advocates towards buying real estate and individual stock in pursuance of assets. Assets are essential to the principal ideas that Rich Dad, Poor Dad has to
The author points out that there is a thing such as the “Rat Race” and it happens to well-meaning people whose main goal in life is to make money instead of allowing money to work for them. This was shown clearly as young Robert is shown by Rich Dad the endless cycle people go through of waking, working and paying taxes. This cycle never stops, but only grows the longer one stays on it (Kiyoski, 2001). After reading the first lesson, I began looking at areas in my life where I can improve so that I can avoid entering the never ending “Rat Race”. I started analyzing my job and what it means to me in the long run.
How To Become Rich Becoming wealthy is all about a mixture of hard work, making wise decisions, and investing your money and time into areas that will lead you the highest return of investment. There are very few businesses and ideas that will lead you to a million bucks or more within a short period of time. In this article, you'll learn the basics of being filled with wealth and how to bring money into your life. You'll discover different ideas to help you lead a life where money just flows into your life. How To Become Rich Getting rich is all about strictly one thing: mindset.