Transformational Book Series – Our Picks: Rich Dad, Poor Dad

by My Blooming Biz | Jun 18, 2018 | Empowerment Tools, Financial Empowerment, Transformational Books, Uncategorized, Women Empowerment

In January we kicked off a new MBB series to highlight transformational books for women called, Transformational Book Series – Our Picks. This month we’re excited to continue the series by sharing with you our next transformational book in the series – Rich Dad Poor Dad by Robert T. Kiyosaki.

Say what you want about Robert Kiyosaki but it will not diminish his brilliance! He’s a very clever man with a whole lot of wisdom and he knows what the heck he’s talking about. He experienced it from both angles and he has taken it to a whole new level! Rich Dad Poor Dad is Robert’s story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. This is what we talk about all the time here at MBB. Making your money work for you! That’s in one of our signature program MASTER Your Finances. But before you can MASTER your finances, you first gotta earn some money in order to have it work for you, and that’s in our signature program WERK Your Money Making Genie.

We are not only featuring this book because it has helped all of us here at MBB – from CEO to management to staff improve our lives, but we are saluting the author – Robert Kiyosaki and crediting his book because we have used its teaching to help hundreds of women around the globe empower themselves.

This book, as the name suggests, is written with men in mind who is usually the breadwinner; however, its principles can be practiced by everyone and as such we have termed it here “Rich Family, Poor Family”. Robert Kiyosaki’s vision for his book was to help individuals learn the rules of dealing with money so their money would work for them instead of the other way around, and he has achieved that – as many of us will attest. He demonstrates the power of understanding the difference between working hard and working smart with practical techniques that will energize and move you to take initiative in changing your mindset and the way you view and deal with money.

You Can Count On Rich Dad Poor Dad to:

1) Challenge the belief that your house is an asset (Our CEO is an accountant and she strongly agrees with him)

2) Define once and for all what an asset and a liability is

3) Show you why you cannot rely on the school system to teach your kids
about money

4) Teach you what to teach your kids about money for their future financial
success

Some Key Concepts of Rich Dad Poor Dad are:

1) Assets put money in your pocket even when you are on vacation. Liabilities take money out of your pocket; therefore your house is a liability – unless you rent out rooms and collecting rent on it.

2) Wealthy people buy assets first, and then let their assets buy their luxuries from the surplus cash flow.

3) Wealthy people continuously increase their assets by reinvesting their surplus cash flow in more assets.

4) There are 3 primary asset classes: Real Estate, Businesses, and Paper assets (stocks bonds notes, etc)

5) Cash Flow is more important than Net Worth. Net Worth is similar to potential energy, to use it you have to spend it, then it is gone. Cash Flow is like power from a hydroelectric dam, constantly replenished.

Like many of us here at MBB, this book will help you get on the right path to financial freedom. As long as you follow the concepts and apply them to your individual situation, you will benefit immensely. It is filled with anecdotal evidence and practical steps that can prove very effective when practiced! Read it all the way through and highlight important parts or the portions that speak to you, then revisit those portions periodically.

We have utilized these strategies here at MBB, in addition to many others that we have harnessed over the years, and if you are a client of ours we have already passed them on to you through one or more of our many programs and workshops here. But for those of you who are reading this and it’s new to you, go ahead and get this book, read it, and implement these strategies in your life. We have just narrowly touched the surface of this book in this blog post, and there is so much more for you to experience and grasp from Robert Kiyosaki himself in his book. People are always asking for and seeking out success, and in addition to helping them equip themselves by utilizing our programs here at MBB, we encourage them to read books. Many of them do read, but others do not, and as the old saying goes, “you can lead a horse to water but you cannot make it drink the water”. This book has changed lives, and it will change yours too but you have to take action and implement.

Robert Kiyosaki is insightful, and this book is enlightening. Get this book Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, read it, implement the strategies in your life, and expect to be improved – wholistically.

And as we always say here at My Blooming Biz, “you can learn something from everyone – even the mad man on the street – so remain open-minded.”

With love, gratitude, and empowered attitude,