Getting Started

Hello people! The 10th and the Final blog posts! Pretty difficult to comprehend how far we've come. In the last chapter, the author outlines the ten steps he took to awaken his financial genius. However, to maintain brevity, I've added my favourite five steps in this blog post. In case, you missed reading the six core lessons of this book Rich Dad Poor Dad, make sure to read the blogs under the 'Recent Posts' section. (This lesson is narrated by Robert Kiyosaki)

While in Peru, I asked a gold miner of 45 years how he was so confident about finding a gold mine. He replied,

“There is gold everywhere. Most people are not trained to see it.”

I believe that each of us has a financial genius within us. The problem is that our financial genius lies asleep, waiting to be called upon. I offer you the following steps to awaken your financial genius.

1. Find a reason greater than reality: the power of spirit

A reason or a purpose is a deep emotional combination of “wants” and “don’t wants.”

I will list a few: first, the “don’t wants,” for they create the “wants.” I don’t want to work all my life. I don’t like being an employee.

Now the “wants.” I want to be free to travel the world and live the lifestyle I love. I want to be young when I do this. I want to simply be free.

I wish I could say it was easy. It wasn’t. But it wasn’t that hard either. I’ve learned that, without a strong reason or purpose, anything in life is hard.

If you do not have a strong reason, there is no sense in reading further. It will sound like too much work.

2. Make daily choices: the power of choice

Each of us has the choice of what we put in our brain once we’re old enough. You can watch Netflix or go to a class on financial planning. You choose. Most people simply buy investments rather than first investing in learning about investing. Financially, with every dollar we get in our hands, we hold the power to choose our future: to be rich, poor, or middle class. Our spending habits reflect who we are.

3. Choose friends carefully: the power of association

If you're smart enough, you don't need any explanation for this step. After all,

“You are the average of the five people you spend the most time with.”

4. Master a formula and then learn a new one: the power of learning quickly I say, “You become what you study.” In other words, be careful what you learn, because your mind is so powerful that you become what you put in your head. In today’s fast-changing world, it’s not so much what you know anymore that counts, because often what you know is old. It is how fast you learn. That skill is priceless.

5. Pay yourself first: the power of self-discipline Out of all the steps, this step is probably the most difficult to master if it is not already a part of your makeup. It is the lack of self-discipline that causes most lottery winners to go broke soon after winning millions. It is the lack of self-discipline that causes people who get a raise to immediately go out and buy a new car or take a cruise. In the entrepreneur classes I teach, I constantly remind people to not focus on their product, service, or widget, but to focus on developing management skills. The three most important management skills necessary to start your own business are: management of:

1. Management of cash flow

2. Management of people

3. Management of personal time

I hope, these blog posts have at least provided you with some insight into what the book 'Rich Dad Poor Dad' is about. Do let me know in the comments which should be the next book you would like us to read. I hope you learnt something through reading this blog. If Yes, then make sure to like the blog, comment, share and subscribe to the email newsletter if you haven't yet. I post a blog every Monday at 7 pm IST, until then Happy Reading!