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    Wednesday, July 22, 2015

    Notable Quotes From Rich Dad, Poor Dad




    Notable Quotes From Rich Dad, Poor Dad


    I finally finished reading the e-book! I am so proud of myself. Why? Because I knew myself that I will get bored with financial stuff. I think this is the beginning! Naks! I actually enjoyed it more than The Richest Man in Babylon (I have to read it again). The copy is from Mommy Jen, thanks again sis! There's a lot of eye opener on this book. It got thru me big time. I hope I had read this when I was younger but I am definitely grateful that I was able to read it now and there's no turning back. Here are some pointers that I learned:


  • changes
  • learning new skills
  • losing is a way to success
  • being safe
  • the fear of being fired and not pay the bills
  • keep expenses low
  • build assets not liabilities
  • taking risks
  • getting out of your comfort zone
  • assets & liabilities
  • paying yourself first



  • I don't want to review the whole book. You should read it for yourself for better understanding. But here are some of my favorite notable quotes from the book.


    "And when stock prices go up, people like me, the shareholders, get richer. That is what I mean by a different set of rules. Employees lose; owners and investors win."
    "There is a difference between being poor and being broke. - Broke is temporary, and poor is eternal." 
    Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth. The reason positive thinking alone does not work is because most people went to school and never learned how money works, so they spend their lives working for money. 
    "Life pushes all of us around. Some give up. Others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something. They learn and move on. Most quit, and a few like you fight." 
    "And that's exactly what most people do. They quit and go looking for another job, better opportunity, and higher pay, actually thinking that a new job or more pay will solve the problem. In most cases, it won't." 
    Just know that it's fear that keeps most people working at a job. The fear of not paying their bills. The fear of being fired. The fear of not having enough money. The fear of starting over. That's the price of studying to learn a profession or trade, and then working for money. Most people become a slave to money... and then get angry at their boss." 
    It is perfectly normal to desire something better, prettier, more fun or exciting. So people also work for money because of desire. They desire money for the joy they think it can buy. But the joy that money brings is often short lived, and they soon need more money for more joy, more pleasure, more comfort, more security. So they keep working, thinking money will soothe their souls that is troubled by fear and desire. But money cannot do that." 
    If your pattern is to spend everything you get, most likely an increase in cash will just result in an increase in spending. I'd rather be welcoming change than dreading change. I'd rather be excited about making millions than worrying about not getting a raise. 
    "You can't teach an old dog new tricks." Unless a person is used to changing, it's hard to change. 
    He constantly told Mike and me that the greatest reason for lack of financial success was because most people played it too safe. 
    "People are so afraid of losing that they lose" were his words. 
    Failure inspires winners. And failure defeats losers. It is the biggest secret of winners. 
    "Your dad pays everyone else first. He pays himself last, but only if he has anything left over."
    "I firmly believe in paying my bills on time. I just pay myself first. Before I pay even the government." "But what happens if you don't have enough money?" I asked. "What do you do then?" "The same," said rich dad. "I still pay myself first. Even if I'm short of money. My asset column is far more important to me than the government."
    No. 1 in paying yourself first is don't get into debt in the first place. Although I pay my bills last, I set it up to have only small unimportant bills, that I will have to pay. 
    Don't get into large debt positions that you have to pay for. Keep your expenses low. Build up assets first. Then, buy the big house or nice car. Being stuck in the rat race is not intelligent. 
    The rule does not encourage self-sacrifice or financial abstinence. It doesn't mean pay yourself first and starve. Life was meant to be enjoyed. If you call on your financial genius, you can have all the goodies of life, get rich and pay bills, without sacrificing the good life. And that is financial intelligence. 
    Too often today, we focus to borrowing money to get the things we want instead of focusing on creating money. One is easier in the short term, but harder in the long term. It's a bad habit that we as individuals and as a nation have gotten into. Remember, the easy road often becomes hard, and the hard road often becomes easy. 

    It's not too late to take action on your financial. We still got a long way to go to get that financial freedom that we are aiming. I am still taking baby steps at a time. Reading a lot of financial stuff to stock up knowledge. But I am happy that I've finally started to save and getting used to taking part of my salary to pay myself first. I hope in the next coming payday, I will be able to increase the payment that I am paying to myself. It takes a lot of practice on budgeting, self control and discipline. And I am happy to announce that my mom initiated to open a UITF account! (Hindi ko sya pinilit!) After reading a lot of blogs about UITF, I think it's time for her to really invest. Ecstatic is the word that best described my feeling because she listened to me. I will let her know the risk of course. I still have a lot to learn and as Robert Kiyosaki said, don't be afraid to fail. 

    And this is the beginning of our journey. :)




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