Rich Dad poor Dad book Azad_Chaiwala

 

Asalaamu Alaykum Millionaires. 

I'm Azad_Chaiwala. 

Millionaires there is this book.

Named as rich dad poor dad that is talked a lot about written by Robert Kiyosaki. He lives in Hawaii.

Hawaii is a state in America. Also known as United States of America. OK

I'm going to share those lessons that we have learned from this book.

For those people who did not know about this book, This book is titled as Rich dad, Poor dad.

There is this kid who's real father in this book is playing as a poor dad.

And the the rich dad is his friend's father

The difference between these two fathers is that his real dad has collected many degrees and diplomas, Etc.

And all his life he keep saying that I cannot do this, I cannot achieve this thing and I cannot afford that

All of his life is spent in being worried and while on the other hand his friend's father whose is also known as rich dad in this book.

Consider him being only Matric passed. And the angle through which he sees life is this. If I want something, how can I achieve that.

Robert said this when he was just a kid, I saw both of them and then my friend's father took me under his wings and taught me all the summary of life.

At the end what happens is, when his real father will pass away. He has nothing left to give to his children

Only few bills from the funeral that will be paid from his assets and the end. While on the other hand,

When his friend's father will pass away he will have a whole empire to pass on to his next generation and,

He spent his whole life enjoying. So the lessons we learn from this are

The first one is that we are being taught in schools that failure is a bad thing

01:57

But if we look at Humans then Humans learn from their own mistakes, if we never fell, then we have never learn to walk

That was the first lesson the second lesson is the winners are,

Not afraid of failure only failed people are afraid of failure

Because the winners know that failure is a process of life that teaches us how to learn and advance. This is the second lesson.

The third lesson is that the rest of the people say and they wish that they want to be rich

Whereas the real rich man is that who will never be poor until he gives up, or give up on their dreams, Right.

While other people only wish being rich, they want to be rich

They never work on it, Rich person,

Regardless of failure, Failure in this book is a huge thing

Regardless of failure he keeps searching for the pursuit and eventually he gets rich

The fourth thing is, A poor mentality person, he is always worried about the things that are never going to happen. Whereas a rich mentality person, He is always ready

He knows that bad times will also arrive and bad thing things can happen, again failures will come and he knows he can face them and those are part of life

Failures have been mention several times in this book

The next point is, the greatest asset is not money but knowledge.

The mentality of you work to learn.

It means I work because I learn to make myself better in comparison to that I work for money. Money is a by-product that will come by itself.

In this book the real father of Robert teaches him via lectures and orally whereas his rich father teaches him practically about how he bought them

Because he was a rich dad, he had many tenants living, he was a landlord, he was never born as landlord

Because he built his wealth that way. And he taught the same business to Robert as well and now he has thousands of apartments as of today

I was listening to one of his lecture in which he was explaining about tax. He is huge expert in this.

The fifth point is, it does not matter how much money do you make the real thing is how much do you save.

As I already said that he is ha huge tax expert so in this he is explaining how to avoid tax

It means we do not have to do anything illegal but as a legal point of view how much tax can we save.

Because if you save that tax for yourself it means that you are increasing your own wealth

He explains about how your house should not be too big, only use how much your need is including all your cars and assets, etc.

Rich people are not those who show off there wealth, rich people are those that I have seen spend their live as simple as possible, and they are not show offs.

So that is something we learn from this book as well

The next point is the being rich is more like a mentality or mindset

Even poor mindset children can be born in a rich family. It is possible

There are many people who gave their wealth to their children and they have perished it.

They don't know how the money is made.

As I told you in the beginning that Robert's real dad is always worried about that I cannot afford this. This is out of my budget etc. and etc.

Whereas Robert's rich dad always said in answer how can I afford it?

What needs to be done, what work should I do where to bought the money in order to afford it, Ok.

And the last thing that Robert teaches us is assets vs liabilities.

In Pakistan we have gathered many liabilities, from weddings to meaningless traditions, to meaningless degrees in which you are not educated

Only we are taught to bone up and we spend our youth, etc.

In comparison to this gather as much assets as you can if you want to be rich in real life, you cannot be rich from a job.

You have to gather those assets that will make you money while you sleep.

Either that are in business kinds or either they are in properties, through which you take rents

As I have told you Robert has thousands of properties, he also carries himself with the same mentality

So these are the lessons we learn from rich dad and poor dad, Ok.

And I hope that I saved your time from actually reading that book

It is a big book there was actually a time when I used to read books,

But now I don't because I do not have time, I just watch videos on YouTube.

Like you people are watching, you are of those very few people that actually want to better yourself, you people are unique

You have pursuit of making money that's why you are watching a financial channel.

And I would urge you to subscribe to my channel, so that we can communicate, and you don't miss out on any future videos

I know that every person does not watch my every video, but when that bell rings and my video is uploaded

So at that day or time I have dropped some tips that would help you a lot.

Take care of yourselves, I'm Azad Chaiwala, and like everything else

I will never stop making videos either if my views goes up or down. Because entrepreneurs keep working consistently

And you have to keep doing like this, take care of yourselves. Asalaamu Alaykum.