Rich Dad Poor Dad-FINAL
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Transcript of Rich Dad Poor Dad-FINAL
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1
RICH DAD POOR DAD
Presented By
Division A
Natasha Bharvani(11)
Ninad Bhate (12)
Rohan Gholkar(31)
Nishit Gogri(33)
Ankush Gupta(36)
Nikhil John(46)
Supreet Kaur(54)
Division Alpha
Vishal Phadke(82)
Pradnyesha Rode(87)
Pooja Shah(93)
Kush Tandon(123)
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2
SECR
ETT
O BE
COME
RICH?
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3
AUTHOR:ROBERT
KIYOSAKI
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Who is Robert Kiyosaki?
Investor, businessman, self-help author and
motivational speaker
Gunship pilot at Marine Corps.
Selling Copy machines (1975)
Started many business
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Who is Sharon Lechter?
Best known as the co-author of
Rich Dad, Poor Dad Series.
Is a CPA, Author, Entrepreneur,
educator, International Speaker and
Philanthropist.
Actively engaged to advance
financial literacy across the nation.
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Why this book? To learn and practice to become financially
independent
Two different points of view
Schools do not equip kids for financial
independence
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Central Theme
There is a need for financial literacy
The poor and middle class work for money
The rich have money work for them
The concept of Rat Race & how to get out of it
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Central Theme Change ourselves with fast changing world
Concept of assets, liabilities and wealth
Strategies and tips for becoming financially
independent
Overcoming obstacles
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Rich dont work for money
The rich makes money does NOT work for it
Fear and desire leads life to a big trap (rat race)
Cut your expenses moderately
Invest wisely
Create opportunities to earn passive incomes
Seek to be a business owner and/or an investor
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Financial Literacy
Money KEPT v/s money MADE
Assets v/s Liabilities
Your home : Liability or Asset?
Difference between Cash Flows
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Cash Flow : Poor person
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Income
Expense
LiabilitiesAsset
Taxes
Food
Rent
Clothes
Job
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Cash Flow : Middle class person
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Income
Expense
LiabilitiesAsset
Taxes
Mortgage
Clothes
Fun
Job
Mortgage
Customer loans
Credit Cards
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Cash Flow : Rich person
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Income
Expense
LiabilitiesAsset
Taxes
Food
Rent
Clothes
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Mind your own business
Excel with your qualifications
Do not depend on a salaried job
Build the asset column first
Profession generates income while business
generates assets
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Stark Difference
People with Corporations
Earn
Spend Pay taxes
People who work for Corporations
Earn Pay taxes
Spend
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Financial IQ
Four main areas of expertise of Financial IQ
Accounting
Investing
Understanding Markets
Law
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Hard Truths
Luck is created- just as money
Money isnt real, it is what we agree it is
Humans think with their minds, not bodies
3 types of people:
Wait for the right opportunities
Get the right opportunity but have no money
Have the right opportunity and the money, but dont
identify it
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4 technical skills of Financial Intelligence:
- Financial literacy
- Investment strategies
- The market
- The law
Guts, daring and audacity decides our future
Best deals for those who understand the game
You cant do that! v/s I dont know how to do that
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Work to Learn not only for Money
Two investors
- Buys a packaged investment
- Creates investments
To be the second type:
- Find an opportunity everyone else has missed
- Learn How to raise money
- Learn How to organize smart people
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Roadblocks
Fear- Its Real
Cynicism-What if?
Laziness-Work out
Habits- Pay yourself
Arrogance- Educate yourself
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How do I Start?
I need a reason greater than a reality
I choose daily
Choose friends carefully
Master a formula and then learn a new one
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How do I Start?
Pay yourself first
Pay your brokers well
Be an Indian giver
Assets buy luxuries
The need for heroes
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Heres something more
Stop doing what you are doing
Look for new ideas
Find who has done what you want to do
Take classes and buy tapes
Make lots of offers
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And something more
Look in the right places
Look for people who want to buy first, then I
look for someone who wants to sell
Learn from history
Action always beats inaction
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Summary A tale of two Dads-
Highly educated professor (Poor Dad)
Eighth grade drop-out (Rich Dad)
Rich Dad teaches lessons on money by
making them learn through experience
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Conventional or Poor Dads outlook Go to school and get good grades
Work for a respectable firm
Earn a livelihood
Pay your bills and taxes
Buy liabilities (mortagage, credit card debt)
Rat Race repeats
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Unconventional Rich Dads Outlook: You are what you Think
Job is short-term solution to a long-term
problem
A highly paid slave is still a slave
Why climb the corporate ladder when you can
own the ladder?
Identify an opportunity everyone else has 27
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Perspective on the book Entrepreneurs biggest problem today :
Funding.
Is it practically possible?
An eye-opener for new investors in stock
market & real-estate
Great source of inspiration
Risk Management 28
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Examples Wipro Story
Infosys Story
Other multibaggers (Kotak Mahindra etc.)
Real Estate and Gold
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