{"id":4464,"date":"2021-01-25T05:58:09","date_gmt":"2021-01-25T05:58:09","guid":{"rendered":"http:\/\/lifeclasses.fountainheadschools.org\/?p=4464"},"modified":"2021-01-25T09:07:33","modified_gmt":"2021-01-25T09:07:33","slug":"4464","status":"publish","type":"post","link":"https:\/\/lifeclasses.fountainheadschools.org\/?p=4464","title":{"rendered":"Rich dad Poor dad"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Book name: Rich dad Poor dad<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Author: Robert T Kiyosaki<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the introduction part of the book, you will get a glimpse of what the book is all about. The story of a boy who wants to be rich and how he gets to know some good financial life lessons from a rich dad.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chapter 1 Rich don\u2019t work for money.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What I learned from this chapter is that never work for money. This sounds strange but this is cheaper all about. In the first chapter Robert( author) decides with his friend Mike that they want to be rich and learn lessons from Rich dad (Mike&#8217;s father) at the age of nine.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Following are the important lessons from the 1st chapter.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cExperiential learning\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cSchool never teach financial literacy\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cLearning by making mistakes through trial and error is more and more important.\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cDon\u2019t try to change others &#8211; change your mindset. I must change.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cThe high-paying job means two things: you are working for money and taxes you will probably pay will increase.\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fear and greed emotions always control people&#8217;s mindset that stops them from doing something new or creative. They become slaves.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u201cEmotions are what makes us human. The word emotion stands for energy in motion. Be thoughtful about your emotion and use your mind and emotion in your favour, not against yourself.\u201d<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The reader gets some good examples from this chapter that &#8220;how money works for you.&#8221;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chapter 2 Why teach Financial literacy<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the 2nd chapter, the book talks about a phase where the author had already retired at the age of 47 and his friend Mike was in a better situation than his rich dad. This chapter mostly talks about liability and assets. Mike\u2019s dad drew so many charts to explain the nine years what assets and liability is. Those all charts we can see in this book with a list of assets and liabilities examples. The author believes that purchasing a home is a liability and not assets because as per his mindset, liability is a thing that takes money out of your pocket. That means you should buy a house when you have substantial income from assets. Also, he defines wealthy people &#8211; &#8220;When your assets generate enough income to cover your expenses, you are wealthy, not rich.&#8221; The author gives examples of how wealthy people come in the category of poor people.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I learned from this chapter is that financial planning is key to a good life, that liabilities need to be less.\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Book name: Rich dad Poor dad Author: Robert T Kiyosaki In the introduction part of the book, you will get a glimpse of what the book is all about. The story of a boy who wants to be rich and how he gets to know some good financial life lessons from a rich dad.\u00a0 Chapter 1 Rich don\u2019t work for<\/p>\n","protected":false},"author":163,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-4464","post","type-post","status-publish","format-standard","hentry","category-book-club-big-books-short-books"],"_links":{"self":[{"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/posts\/4464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/users\/163"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4464"}],"version-history":[{"count":2,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/posts\/4464\/revisions"}],"predecessor-version":[{"id":4466,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=\/wp\/v2\/posts\/4464\/revisions\/4466"}],"wp:attachment":[{"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeclasses.fountainheadschools.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}