Rich Dad, poor Dad

Plan for our presentation:
*Tell about the author
*Tell about the book
*Interesting parts of the book we liked
*Recommendations and advices

Robert T. Kiyosaki

So what’s the difference between them?

Lesson1
The rich don’t work for money
Lesson2
Master Financial Literacy

There are five reasons that people don’t grow assets and become financially independent:
*Fear - of losing money
*Cynicism - don’t let doubts paralyze
*Laziness - busy people are often the most lazy
*Bad Habits - our lives reflect our habits
*Arrogance - arrogance + ego = ignorance

You must know the difference between an
asset and a liability and buy assets:
1.The rich buy assets but the poor and middleclass buy liabilities they think are assets.
2.The cash flow pattern of an asset is from
Assets to Income.
3.The cash flow pattern of a liability is from Liabilities to Expense.

The financial nightmare
1.Hard working educated couple marries and begins their careers.
2.Decide to save for dream home, and so work hard to make more money - taxes go way up.
3.They buy their new house and furnish it, and now have property taxes, mortgage and credit card debt.
4.Kids come along who cost money and so the parents work harder and up go the taxes.

As an employee who is a homeowner:
1.you work for someone else and are making the owner(s) or shareholders rich.
2.you work for the government, from Jan to May to pay your taxes.
3.You work for the bank, paying off your mortgage, student loans and credit cards.

Why Teach Financial Literacy?
Remember this simple observation:
*The rich buy assets.
*The poor only have expenses .
*The middle class buys liabilities they think are assets.