Something From Rich Dad Poor Dad

Rich Dad,Poor Dad
Robert T.Kiyosaki

Introduction

1. Does school prepare children for the real world?…
2. Her parents always used to say “Study hard and get good grades and you will find a high-paying job with great benefits.”
3. Says that the goal of her parents was to provide a college education her and her older sister.
4. When she got older she earned her diploma in 1976 graduated with honors, in accounting from Florida State University.
5. She was hired by a “Big 8” accounting firm and looked forward to a long career and an early retirement.
6. But after changing her job positions many times she was quick to realize that there was no pension plans vesting on their behalf.
7. In 1996 one of her kids was disappointed with school he claimed that he was board and tired of studying.
8. She said “Why should I put time into studying subjects I will never use in real life?”
9. With out a hesitation she replied Because if you don’t get good grades you wont get in to a good college.
10. After her son replied “Regardless of whether I go to college I’m going to be rich.”
11. Then they got in a discussion on how will he get rich if he does not go to a good college and he replies by saying that school is not the only way to get rich by naming celebrities that got famous off sports, singing, and making corporations.
12. One day her husband called her in to his office saying she needs to meet someone it was Mr. Kiyosaki.
13. Mr. Kiyosaki represented a game of them called CASHFLOW it was a new educational game.
14. The game looked like monopoly but it had two tracks the one inside and outside. The object of the game was to get out of the inside track what was called the “Rat Race” and to get to the outer track called “Fast Track”.

What is Rat Race?

1. Robert then defined the "Rat Race" for them. Rat Race is simple it’s just the average life of a person like a kid does good in school goes to a nice college then looks for a job that is safe with a steady income then he will have money to waste and starts dating then has twice the income with new partner. Then they have a kid then the family now needs to support the kid and needs a bigger house so that’s more money than they need to get second job and now they are in debt =[.
2. The only way to get out of the "Rat Race" is to prove your proficiency at both accounting and investing, arguably two of the most difficult subjects to master.
3. After having people play the game many of them did not like it because they could not get out of the Rat Race. Because they were not educated in school to learn how to use their money wisely.

Meeting up!

1. Her husband set up a dinner meeting with Robert and his wife within that next week. Although it was their first social get-together, they felt as if they had known each other for years. They found out there was a lot in common. They covered the gamut, from sports and plays to restaurants and socio-economic issues. They talked about the changing world spent a lot of time discussing how most Americans have little or nothing saved for retirement, as well as the almost bankrupt state of Social Security and Medicare.
2. Would my children be required to pay for the retirement of 75 million baby boomers? They wondered if people realize how risky it is to depend on a pension plan.

Ending Introduction

1. At the end of the introduction they asked how he knew everything he told them and he said he taught himself and how he wrote a book on it and it became a best seller and he had another one on his way but it is in pieces and they agreed to finish the book with him.

Chapter 1!

1. Starts off describing how he has two fathers and how one is this crazy smart father with a Ph.D. and completed four years of undergraduate work in under two years and how he studied at Stanford University, the University of Chicago, and Northwestern University to do his advanced studies, all on full financial scholarships.
2. The other father never finished the eighth grade.
3. But both men were successful in their careers, working hard all their lives. Both earned substantial incomes. Yet one struggled financially all his life. The other would become one of the richest men in Hawaii.
4. Both the fathers where good men and giving the son information about money and they both had different views on money and how to make it.
5. For example, one dad would say, "The love of money is the root of all evil." The other, "The lack of money is the root of all evil."
6. He later explains why the rich get richer and the poor get poor and the middle class is suck in debt is because school teaches scholastic and professional skills, but not on financial skills.
7. It later describes how he chooses to listen to the father that is rich and we find out that it is the one who did not go to school because he learned how to be financially stable on his own and not from years of school.

Robert Frost

1. Frost is one of his favorite poets.
2. The Road Not Taken Two roads diverged in a yellow wood, And sorry I could not travel both And be one traveler, long I stood And looked down one as far as I could To where it bent in the undergrowth; Then took the other, as just as fair, And having perhaps the better claim, Because it was grassy and wanted wear Though as for that the passing there Had worn them really about the same, And both that morning equally lay In leaves no step had trodden black. Oh, I kept the first for another day! Yet knowing how way leads onto way, I doubted if I should ever come back. I shall be telling this with a sigh somewhere ages and ages hence; two roads diverged in a wood, and I took the one less traveled by, and that has made all the difference. Robert Frost(1916)