Basically, Rich Dad is an educated and successful businessman. Unlike Poor Dad, he doesn’t work for money. Instead, he does what he loves and knows how to maximize his income. In this article, we’ll look at the differences between the two and how you can follow their example to make your financial life a success. This will give you some perspective on how you can create a budget that works for you and your family.
Rich dad is a business owner
Rich dad is an entrepreneur who started in the S quadrant and built a huge business. The book also explains the importance of financial education and the benefits of investing in real estate and business ventures. The book uses parables to illustrate the importance of financial freedom and how to achieve it.
His sons, Mike and Robert, were hired by him when they were nine years old and were exposed to various aspects of the business world. They were able to observe his methods and learn from them. As teenagers, Robert and Mike worked with him and watched how he ran his business. They were able to observe how his rich dad dealt with professionals, including tax accountants, real estate brokers, and bankers.
Rich dad is a very educated man
In Rich Dad, Poor Dad, the author attributes his financial wisdom to the conversations he had with his rich father. His conversations with him made him very aware of the financial nuances that distinguish the rich from the poor. The book includes many examples to drive home the point, and the author’s pro-capitalist stance comes through clear.
Robert listened to his father’s advice, and soon started to see success in his finances. He now owns several Corporations and LLCs, including his own company, the Rich Dad Company. He also maintains an active social media following, including a YouTube channel with over one million subscribers. He also has a number of joint venture partnerships with 17 companies.
Rich dad doesn’t work for money
The Rich Dad is a book that debunks the traditional ideas about money. The conventional view of wealth emphasized stability and earning a high wage. But these ideas are no longer applicable to today’s world, as job security is often insecure and a college education and professional success aren’t always enough to ensure financial security. The Rich Dad, on the other hand, advocates a more contrarian view of wealth, which advocates for calculated risk and financial independence.
When Robert Kiyosaki was working for Xerox in his twenties, he began to notice that his bosses were constantly talking about promotions and raises, and his deductions were rising. It was at that point that Robert realized that he needed to follow his rich dad’s example and started working harder.
Rich dad has a different budget
Robert Kiyosaki, author of Rich Dad Poor Dad, is a big believer in the idea that your spending habits are far more important than your income. He says that people with a rich dad mindset invest big chunks of money, while people with a poor dad mindset use that increase in cash flow to buy more liabilities. Kiyosaki learned about taxes at an early age and applied these concepts to his life.
While it’s true that a rich dad’s budget is different from a poor dad’s, there are still some similarities between the two. The books are a great resource for people who are looking for advice on personal finance. They offer advice that isn’t just a “fluff guide,” but also a practical guide to budgeting.
Rich dad wants to learn how money works
Rich Dad wanted his sons to learn how money works in real life, and he taught them this through examples. He said that it was important for boys to understand how money works, and to avoid becoming controlled by greed and fear. In the real world, most people feel like they don’t have enough money despite increasing incomes. Robert had a job that paid very little, and he complained to Rich Dad about it.
He was raised by two fathers, one of whom was a very successful businessman. One was his biological father, and the other was his best friend’s. In the real world, you don’t need a huge income to be rich, but you do have to understand the difference between the two. The rich use their money to make their lives better, while the poor use it to acquire things.
Rich dad has a different way of thinking
Rich dads are often described as people with a different way of thinking. Often, they use the example of real estate, small-cap stocks, or small-business startups to illustrate their point. They also suggest learning about a lot of different things. This is because many people make the mistake of being busy, but their laziness is actually the result of being ignorant. They also believe that wealth-building requires being true to yourself, and not following the crowd.
According to Kiyosaki, a million-dollar house doesn’t always increase in value. People often buy million-dollar houses and then sell them for much less. The increase in property taxes also put a strain on their family’s budget.