You often say sometime that you don’t want to live this kind bad life where you don’t live for yourself. You want freedom to live life as you want. Everyone want to become rich ,live luxiourious life, travel around the world but they didn’t know where should they start or what should they do that could make him rich and became independent.
So here, is the “Rich dad, Poor Dad” advice to become rich and earn more money.
“True learning takes power, energy and burning desire and Anger is a big part of that formula”
In Rich dad, Poor Dad, He primarily focus on 4 skills that make you to understand how the money works and after that you will become Independent. I’ll keep it super simple to understand what are these:
- Understanding markets
- The law:
- Tax advantage
- Protection from lawsuits.
Accounting is the financial literacy or the ability to read numbers. this is most important skill if you want to become rich. The More you generate money, the more accuracy you required.
It is the idea of ‘‘money making money”. This involve strategies and formula which multiply you money to make more money.
It is the science of supply and demand. In this, You need to know the technical aspects of the market which are emotion driven. Means, Does an investment makes more sense or not based ont he current market conditions.
The law is the awareness of accounting corporate, state and federal regulations.
1. Tax advantage:
In this, A corporation can do many things than a person can’t like pay expenses before pay taxes. Means in Basic terms, A rich man buy an “assest” first and then whatever is left on, they pay taxes on it while a normal person pay taxes first and live on what is left after pay tax.
2. Protection from lawsuits:
Its s file folder with some legal document that creates a legal document in it. For example: when someone filed against a wealthy individual they are often met with layers of legal protection and often find that the wealthy person actually owns nothing. they control everything , but own nothing.
If, you really want to be rich the only thing you can do is expand your Knowledge. Knowledge in the field of financial terms. If you understand those terms soon you started to realize that you grow your financial status. NOt so fast, but yeah! it’s started. and you continued to followed your dream path acheive whatever you want in life. Remember, Knowledge is power. If you got this then YOu are the powerful one.
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