May 3, 20228 min read

67 Rich Dad Poor Dad | Book Quotes

There are things that we often need to discover on our own really.

Great opportunities are not seen with your eyes. They are seen with your mind.

It's all about the perspective, the way you see life. How do you see life?

Job security meant everything to my educated dad. Learning meant everything to my rich dad.

This is reality speaking.

Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit

Unfortunately this is also true. There are so many people who wouldn't change even for the better.

Unfortunately, there is some truth to the old statement, “You can’t teach an old dog new tricks.” Unless a person is used to changing, it’s hard to change.

Sometimes I'm still stuck in this part.

The most painful part is deciding to go. Once you get past that, it’s easy

2 out of 3 is me.

There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow. The five reasons are: 1. Fear 2. Cynicism 3. Laziness 4. Bad habits 5. Arrogance

We talk about writing I'm good. We talk about social circle, you won't see me.

We’re all heroes at something, and cowards at something else.

At first it was hard to take a loss but now I've learned how to deal with it.

It’s not that he wanted to lose. He just knew who he was and how he would take a loss

Don't let failures bury you.

Texans don’t bury their failures. They get inspired by them

This is true. Saying "I can't afford it" closes the discussion of wanting to buy it.

Rich dad believed that the words “I can’t afford it” shut down your brain. “How can I afford it?” opens up possibilities, excitement, and dreams.

It would be effective in some cases but not all the time.

If I had paid myself last, I would have felt no pressure, but I’d be broke.

Good money habits... now that's a challenge to learn.

"...just because I don’t have good money habits.”

Which is why Rich Dad educates us of financial education because what we don't know doesn't make us money.

What I know makes me money. What I don’t know loses me money. Every time I have been arrogant, I have lost money. Because when I’m arrogant, I truly believe that what I don’t know is not important,

In the Bible, the resources are often just at home. We just don't see them as one because we look at something else.

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

So many times we let reality slap us in the face and we let it happen.

Find a reason greater than reality: the power of spirit If you ask most people if they would like to be rich or financially free, they would say yes. But then reality sets in. The road seems too long with too many hills to climb. It’s easier to just work for money and hand the excess over to your broker.

Time indeed is a precious, precious asset.

One is time, which is your most precious asset.

We can't look at the problem the same as we saw it before.

The net result: I still have the old way I used to think, and I now have a new way of looking at the same problem or situation.

In the Bible, humility is very important. And it is. In all aspects of our life.

The only way I can access their vast mental power is to be humble enough to read or listen to what they have to say.

This is true. There are people I've met who never knew me before, and yet they can tell that I am handy with a computer.

Most of us have heard the saying, “You are what you eat.” I have a different slant. I say, “You become what you study.”

Quite risky. Other than money management, this depends on one's job.

Pay yourself first: the power of self-discipline

Gotta be smart who to hire.

Because if, and I do mean if, the people are professionals, their services should make you money. And the more money they make, the more money I make.

In my line of work, investment doesn't come back fast enough.

being an Indian giver is vital to wealth. The sophisticated investor’s first question is: “How fast do I get my money back?”

Only until now did I ever focused on earning for my asset column.

So wise investors must look at more than ROI. They look at the assets they get for free once they get their money back. That is financial intelligence.

This is very important really. The long term is always important because most people look at is only the short term.

It might relieve the pressure in the short term, but what have you taught him in the long term? Can you use this desire to own a car and inspire your son to learn something?

Can we get an amen?

One is easier in the short term, but harder in the long term. It’s a bad habit that we as individuals, and as a nation, have gotten into. Remember, the easy road often becomes hard, and the hard road often becomes easy.

Money can control you if you don't control it.

To be the master of money, you need to be smarter than it.

Evaluation is definitely important. I often just go on about my business and gigs, never knowing which sold more and which didn't.

take a break and assess what is working and what is not working.

So you can discuss together. Ah the beauty of partnership.

Find someone who has done what you want to do.

It's why we also need to know all factors about the seller and the item so we can discuss and close a sweet deal.

That means the seller might be more agreeable to deal.

Like the Bible would say, faith without action is dead.

Action always beats inaction.

I always want to type stories, so I always have my phone in my hand.

It’s what is in your head that determines what is in your hands.

Emotions is a very dangerous thing. Sometimes it can cloud our judgments.

Just be an observer, not a reactor, to your emotions

We are still stuck in the rat race.

A job is really a short-term solution to a long-term problem.

Highly paid slave. I never thought of it that way.

If you don’t first handle fear and desire, and you get rich, you’ll only be a highly paid slave.”

Thus why there are highly paid slaves.

It’s just like the picture of a donkey dragging a cart with its owner dangling a carrot just in front of its nose. The donkey’s owner may be going where he wants to, but the donkey is chasing an illusion. Tomorrow there will only be another carrot for the donkey.

Indeed.

Unfortunately, for many people school is the end, not the beginning.

I never knew before why it was so important to know dates and names until now, the lessons from history is never learned.

We only memorize historical dates and names, not the lesson.

Never let emotions cloud your judgment.

Learn to use your emotions to think, not think with your emotions.

Short-term memory hehe.

Most people have only one problem in mind, and it’s short-term.

It's because the money you make you spend in a day.

Most people fail to realize that in life, it’s not how much money you make. It’s how much money you keep.

There should be a re-definition of assets.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

Exactly why we should re-define.

Rule #1: You must know the difference between an asset and a liability, and buy assets

It's why in the Word of God, He said that we should become like children. Because like children we are open to learn.

The difficulty comes in asking adults to unlearn, or become children again.

I'm not t here yet but I agree it happens.

we adults are often too proud to admit that something does not make sense.

Which is why I am investing in my asset column.

An asset puts money in my pocket. A liability takes money out of my pocket

Words of the wise.

“What defines an asset are not words, but numbers. And if you can’t read the numbers, you can’t tell an asset from a hole in the ground.” “In accounting,” rich dad would say, “it’s not the numbers, but what the numbers are telling you. It’s just like words. It’s not the words, but the story the words are telling you.”

This is true. I've downloaded so many apps to help keep track of my stocks and sales because it's important to know where the money goes.

Cash flow tells the story of how a person handles money.

Still in this phase.

It’s called financial aptitude—what you do with the money once you make it, how to keep people from taking it from you, how to keep it longer, and how to make that money work hard for you.

This is an inside joke but I am writing it out here for my friend to see. [Yes Nyx, this is for you.]

“If you find you have dug yourself into a hole… stop digging.”

I just found this a nice thing to learn of the Japanese.

my dad often told us that the Japanese were aware of three powers: the power of the sword, the jewel, and the mirror.

Reality has slapped us once again.

schools were designed to produce good employees, instead of employers.

So many missed opportunities because of mismanagement.

The greatest losses of all are those from missed opportunities.

Looking beyond the front picture, there is more.

It shows that his income and expenses are equal while his liabilities are larger than his assets.

A question you should ask yourself.

Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive?

I can't believe I didn't save the context for this quote.

this definition creates the possibility for developing a truly accurate measurement.

Pun intended.

That secret is: Mind your own business.

Employees have a business identity crisis.

there is a big difference between your profession and your business. Often I ask people, “What is your business?” And they will say, “Oh, I’m a banker.” Then I ask them if they own the bank. And they usually respond, “No, I work there.” In that instance, they have confused their profession with their business. Their profession may be a banker, but they still need their own business.

Sometimes we've invested more on the rewards column than the asset column.

The old-money people, the long-term rich, build their asset column first. Then the income generated from the asset column buys their luxuries. The poor and middle class buy luxuries with their own sweat, blood, and children’s inheritance.

Exactly why the things I bought is more than just pretty things.

That car now means a lot more to her than simply another pretty car. It means she used her financial intelligence to afford it.

With proper management, one day we will be the employers.

If you work for money, you give the power to your employer. If money works for you, you keep the power and control it.

Everyone just wants to climb the ladder, no one really thought of owning it.

“Why not own the ladder?”

I find this worth quoting.

I have heard it called many things; guts, chutzpah, balls, audacity, bravado, cunning, daring, tenacity, and brilliance.

Yesterday is gone. Today is different.

Old ideas are their biggest liability. It is a liability simply because they fail to realize that while that idea or way of doing something was an asset yesterday, yesterday is gone.

Definitely. As a gamer, I agree.