Rich Dad Poor Dad Book Summary | 5 Rules Of Money — Transcript

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1. 0:01Robert Kiyosaki wrote a book in 1997
2. 0:03thIs Book made a splash as soon as it came in the market
3. 0:05and became a best selling book
4. 0:07Robert Kiyosaki's has two fathers were one his real father
5. 0:10Whom he used to call Poor Dad i.e. Rich Dad
6. 0:12And he used to consider his friend Mitch's father as a mouth-to-mouth father and he called him Rich Dad.
7. 0:17His real father: he wrote enough: he was a professor in a college:
8. 0:20Take that in his whole life, there has been a lot of struggle with money.
9. 0:23And that's the reason why Robert calls him Poor Dad and the same other person who His mouth is father
10. 0:28He wrote less: But still a very big business man: And a successful man
11. 0:32And that's why Robert calls him Rich Dad
12. 0:34Robert Kiosk explains in his book Rich Dad Poor Dad that
13. 0:37When he was 9 years old, he looked at other rich kids in school.
14. 0:40He also had a desire to become rich. And that's why he asked his poor dad
15. 0:44how does one become rich
16. 0:46But those who were his poor dad had no answer for this
17. 0:49And he said that you ask your friend Mitch's father the answer to this
18. 0:52Because he can answer you this question very well
19. 0:55Then Robert goes to his rich dad and asks his question.
20. 0:59And that's where an important series of Robert's financial education begins.
21. 1:03His Rich Dad At Different Stages Of His Life
22. 1:05To become rich and always remain american, some important lessons are told.
23. 1:09And with this, he tells many things in this book like how money should be maintained.
24. 1:13how to put money to work
25. 1:14And what such mistakes: Due to which the poor always remain poor
26. 1:18And apart from this, he tells that if poor people also follow all these things, then they too can become rich quickly.
27. 1:23So now let's talk about those important lessons.
28. 1:27number 1 rich people never work for money
29. 1:31Generally people work very hard to become rich
30. 1:33Their effort is that they get a job that will keep them getting good salary every month.
31. 1:38And after doing the job, they go to their job with full effort and dedication.
32. 1:41And with this, they get caught in such a trap from where they can never get out.
33. 1:45And many people become part of the greedy race to get rich this way.
34. 1:49They would have known that the salary would be available at the end of the month:
35. 1:52And for this reason, they take a big house on loan, buy a car, buy expensive things with credit cards:
36. 1:56And get trapped in such a trap
37. 1:58And get trapped in such a trap
38. 2:01Because the things you have taken on loan, you have to pay the loan also.
39. 2:04And to pay that loan, you will have to work for many years.
40. 2:07Whatever amount will come from your job, the maximum amount will go towards paying your loan.
41. 2:12And in the same way, many people's lives go on doing jobs and paying loans.
42. 2:17Now the question comes that what to do if you do not work for money.
43. 2:19rich people don't work for money
44. 2:22They do something that makes money work for them
45. 2:25And what they do, you will get the answer in the coming few points.
46. 2:30Why people need to learn financial education
47. 2:34In the second lesson, Rich Dad learns that it is very important for people to understand money.
48. 2:38But every country in the world has all kinds of problems except financial education.
49. 2:43This is because there is a system in place to study hard and get good marks and then do a good job.
50. 2:48But the truth is: No job can ever make you rich.
51. 2:52Suppose a person becomes a doctor or engineer by writing a post.
52. 2:56But that too gets trapped in the cycle of 9 to 5 jobs as we talked about in the first point.
53. 3:01And to break out of this cycle, Rich Dad spoke about assets and liabilities:
54. 3:06Assets are things that put money in your pocket
55. 3:08And liabilities are all those things that take money out of your pocket.
56. 3:13For example, if you have given a house on rent
57. 3:15so we call it assets
58. 3:17Because that is putting money in your pocket: and the same thing else you take on a car on loan
59. 3:21so we call them liabilities
60. 3:23Cause that car is taking money out of your pocket.
61. 3:25And to become rich the most important thing is that you buy assets
62. 3:29and reduce liabilities as much as possible
63. 3:31And all these things are taught in any school in the world.
64. 3:34Because there it is taught only about how to get a good job.
65. 3:37It is never taught how to grow your money
66. 3:40And that is why it is very important to learn financial education.
67. 3:43Third Lesson: Do Your Own Business
68. 3:45In this lesson, Rich Dad told: A simple job man
69. 3:48Anyone can do such work which will increase his income.
70. 3:51For this it is not necessary to start from the big level.
71. 3:53because not everyone has that much money
72. 3:55You can do any work you like while doing your job.
73. 3:58For example, if a teacher is a professor, then it is his profession and not his business.
74. 4:02His own work will be that which he himself will start
75. 4:04Once upon a time, the founder of "Mc Donald" was giving a lecture in the class of MBA
76. 4:08During the speech, Kroc asked the students
77. 4:11Do you know what business I do?
78. 4:13So all the students said that you are in the business of Hem Burger:
79. 4:15And after hearing this answer, Kroc laughed
80. 4:18Then he said that I am not in the business of ham burger.
81. 4:20Because my job is of real estate:
82. 4:22That's because whenever someone wants to buy Donald's franchise
83. 4:24Then he has to buy that land too.
84. 4:27hua na real estate business
85. 4:28And you see for yourself that Donald is standing as the biggest real estate empire in the whole world.
86. 4:32So Rich Dad Lets Robert Kiyosaki Learn How More People Work For Everyone Else
87. 4:37but don't do it for yourself
88. 4:38That's why a person should focus his attention on himself.
89. 4:41But that doesn't mean that you should quit your job.
90. 4:43They want to say that you are with your job
91. 4:45You should also focus on strengthening the aspect of your assets.
92. 4:48Next Lesson: Work to learn not for money
93. 4:51Robert Kiyosaki explains in his book
94. 4:53Once he was interviewed by a female journalist
95. 4:56She told them that her dream was also to become a best selling writer.
96. 4:59But she could not become that woman's way of writing was also very good
97. 5:02And Robert had read many of his articles.
98. 5:04That's why Robert advised that woman to take a sales training course.
99. 5:07Listening to this, the woman became angry.
100. 5:09Because she was highly educated and had a master's degree in English Literature
101. 5:12Because according to her learning the work of sales was not his standard.
102. 5:16Robert says that the world is full of intelligent people.
103. 5:18But the point is that it is not only necessary to have talent to earn money.
104. 5:21You must know how you can capitalize on that talent
105. 5:24And until you know this, all your talent is in vain
106. 5:28And like the same girl a lot of guys don't work to learn
107. 5:31If she learns the training of female sales, then she may become the best selling writer in the coming time.
108. 5:36But she doesn't learn and that's why the poor always remain poor.
109. 5:39Rich people work to learn and rich learn and become richer
110. 5:43Robert Kiyosaki explains that his poor dad
111. 5:45he was always worried about his job
112. 5:47But his rich dad used to put more emphasis on learning
113. 5:50Because he believed that to become rich one has to learn many things.
114. 5:54And that was the biggest difference between the two
115. 5:56Lesson 6: Overcoming Obstacles
116. 5:59Robert Kiyosaki also tells this in his book: Many people have an understanding of money.
117. 6:02But still, there are such barriers in their way, due to which they are not able to grow their assets much.
118. 6:08And Robert pointed out 5 obstacles: First: Fear
119. 6:10Any person in the world feels bad about the loss of money.
120. 6:13Even the rich have the fear of losing money, but the problem is how to deal with it after the loss.
121. 6:19It is important how you take your failure, this is the biggest difference between rich and poor.
122. 6:23how does he cope with his failure
123. 6:26Second Obstacle Hide Doubt While investing money, we have doubts in our mind which jams us.
124. 6:31There would be a question in everyone's mind that the money that I invested was sunk,
125. 6:34so what if everything is not done according to my plan?
126. 6:36We get fair with such dobs and we can't even start whatever we think of doing.
127. 6:41And in the same way, thousands of opportunities pass before our eyes and we keep seeing.
128. 6:46Third Obstelle: Laziness which is man's worst enemy and never lets man move forward
129. 6:51Robert says that the people who are the most busy are also the most lazy
130. 6:55People working for money all the time in life should understand that too much of anything is wrong.
131. 7:00And recently I had made a video on eliminating laziness
132. 7:03So if you have not seen that video then please must watch that video also.
133. 7:05Fourth Obstacle Have Bad Habits
134. 7:07If two people are to be compared, then there is a lot of change in their habits.
135. 7:10Also Robert says that he gives himself money first
136. 7:13And because of this, he feels himself financially and emotionally strong.
137. 7:17What they mean is that every month when money comes to them.
138. 7:20So first of all, separate your savings and investment money.
139. 7:24And after that, if you pay your bills,
140. 7:25then if you have the desire to become rich, then you will have to inculcate this habit.
141. 7:28So even if you have less money then try yourself first and then do all the work.
142. 7:34This will give you two benefits, firstly, your money will increase
143. 7:36and secondly you will get many opportunities to earn in front of you.
144. 7:39And you can take advantage of them too
145. 7:415th Obstacle is Ego
146. 7:43Rich dad says that some people have more ego and they use it to hide their ignorance.
147. 7:48They say whatever knowledge to me: I am successful in making money because of that.
148. 7:52And I lose my money because of things I don't know
149. 7:55If you do not have knowledge of anything, then keep your ego aside and learn it well first.
150. 8:00If you do this, you can avoid a huge loss.
151. 8:03Let us now see the summary of this video, so first of all we talked that Robert was two fathers.
152. 8:07A poor father and a rich father
153. 8:09And what he learned from his rich dad in his 30 years of life
154. 8:11That's what he told in his book Rich Dad Poor Dad:
155. 8:14So the number one lesson was that rich people don't work for money.
156. 8:16number 2 financial education is very important.
157. 8:20And on this point we talked about that if you want to become rich
158. 8:22then you have to buy assets and reduce liabilities.
159. 8:25lesson number 3 mind your own business
160. 8:27lesson number 4 work to learn not to earn
161. 8:30last point was overcoming obstacles.
162. 8:33And in this point, Robert Kiyosaki told 5 such points due to which you are not able to increase your assets.
163. 8:38And those 5 obstacles something like this:
164. 8:40fear, doubts, laziness, bad habits and ego
165. 8:44And among friends, recommend all of you to read this book.
166. 8:48The link of this book is in the description below:
167. 8:50And you will get this book in both Hindi and English
168. 8:52And if you haven't subscribed to our channel yet : Be a part of our community by subscribing
169. 8:56I will meet you in next video Jai Hind Jai Bharat