Rich Dad – Poor Dad (Chapter 1&2)
Rich Dad, Poor Dad goes over the ways that you can make money work for you, and learn to stress less over financial security
Chapter 1, is about how cash flow works and how you can make it work for yourself. This is the main focus of this chapter. Robert considers himself having two Dads, one his real father who was educated and highly intelligent but always struggled financially while the other one who was his friend Mike’s father, who never finished eighth grade but left tens of millions of dollars for his family. Having two Dads offered him the choice of contrasting points of view: one of rich and one of a poor man.
Chapter 2 :
Robert shares his story that how he and his friend was not invited to a beach house party considering them as poor kids. This led him to ask real dad a question that “How to make money?” and he replied “Use your head” as he himself was not clear about what to answer. Robert and his friend started a business which was termed illegal by his father and he suggested him to talk to Mike’s father as he knew a lot about money.
He then worked at mike’s father’s place earning 10 cents per hour which he felt is less but his desire was to learn from him how to make money. Seeing his efforts he decided to teach him in his own ways. A few learning that he has are:
- The poor and the middle-class work for money. The rich have money to work for them.
- For poor people, the rich dad said “They have a pattern, the pattern of get up, go to work, pay bills; get up, got to work, pay bills. This is what I called the Rat Race.
- The main cause of poverty or financial struggle is fear and ignorance, not the economy or the government, or the rich.
- Most people don’t see opportunities as they are always looking for money and a secure job to pay bills.
- You should not allow your emotions i.e fear and greed to overcome you while thinking for money.
Using these learning’s, he started a comic book library which did not last for much time but Rich dad was happy to see that used his mind and was able to see opportunities.