Rich Dad Poor Dad - Review
This is Book number 1 in our 24 Book Challenge. Watch the video to see my top 2 takeaways from the book. It is an absolute OG in the big list of business books. Often quoted and refered to - Rich Dad Poor Dad covers the fundamentals of having a job vs having your own business. He shows how wealth can be created, assets bought, and used to fund your life.
Robert has a simple explanation of Asset vs Liability "An asset puts money into your pocket each month, where as a Liability takes money out of your pocket each month"
This is key to understand as you build your wealth and focus on where and what you buy.
Roberts income flow chart.
This is a great visual of how money flows for different types of people. And once you've really got a good grasp on Assets vs Liabilities you can interpret this chart and work towards having yours look more like the 'rich' income statement.
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