Rich Dad Poor Dad Book Quotes Part 2

Read Part 1 here.

“By not fully understanding money, the vast majority of people allow its awesome power to control them.”

“If you find you have dug yourself into a hole… stop digging.”

“Schools were designed to produce good employees, instead of employers.”

“When it comes to money, high emotions tend to lower financial intelligence.”

“Most never become what the investment world calls ‘a sophisticated investor.’ And the best investments are usually first sold to sophisticated investors, who then turn around and sell them to the people playing it safe.”

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“The real tragedy is that the lack of early financial education is what creates the risk faced by average middle-class people. The reason they have to play it safe is because their financial positions are tenuous at best. Their balance sheets are not balanced. Instead, they are loaded with liabilities and have no real assets that generate income. Typically, their only source of income is their paycheck. Their livelihood becomes entirely dependent on their employer. So when genuine “deals of a lifetime” come along, these people can’t take advantage of them because they are working so hard, are taxed to the max, and are loaded with debt.”

“Employees make their business owner or the shareholders rich, not themselves. Your efforts and success will help provide for the owner’s success and retirement.”

“Most people work from January to May just for the government.”

“Wealth measures how much money your money is making and, therefore, your financial survivability.”

“Have the excess cash flow from your assets reinvested. The more money that goes into my asset column, the more my asset column grows. The more my assets grow, the more my cash flow grows.”

“Keep expenses low, reduce liabilities, and diligently build a base of solid assets.”

“Begin acquiring assets that you love. If you don’t love it, you won’t take care of it.”

“Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities.”

“The better I was at understanding the accounting and cash management, the better I would be at analyzing investments and eventually starting and building my own company.”

“Once a dollar goes into your asset column, it becomes your employee. The best thing about money is that it works 24 hours a day and can work for generations.”

“Build your asset column first. Then the income generated from the asset column will buy you luxuries.”

“A small amount can grow into a large amount. It is a matter of understanding financial statements, investment strategies, a sense of the market, and the laws.”

“The greater your financial intelligence, the easier it is to tell whether a deal is good. It’s your intelligence that can spot a bad deal, or make a bad deal good.”

“It is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying. The idea in anything is to use your technical knowledge, wisdom, and love of the game to cut the odds down, to lower the risk.”

“I look at money much like my game of tennis. I play hard, make mistakes, correct, make more mistakes, correct, and get better. If I lose the game, I reach across the net, shake my opponent’s hand, smile, and say, ‘See you next Saturday.”

“Financial intelligence is a synergy of accounting, investing, marketing, and law. Combine those four technical skills and making money with money is easier than most people would believe.”

“You want to know a little about a lot” was rich dad’s suggestion.”

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“I recommend to young people to seek work for what they will learn, more than what they will earn. Look down the road at what skills they want to acquire before choosing a specific profession and before getting trapped in the Rat Race.”

“The question I often ask people is, ‘Where is this daily activity taking you?’”

“If they tell me, “I only do what I am interested in,” I say, “I’m not interested in going to the gym, but I go because I want to feel better and live longer.”

Read More:

Rich Dad Poor Dad Books Quotes Part 3


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