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Rich Dad Summary Mindmap Part 1 PW

The document discusses how life pushes people and their responses to challenges. It notes that most people leave jobs due to low pay, while a few learn lessons and move on. The document contrasts how the poor and middle class work for money out of necessity, while the rich have money work for them. It suggests people's lives are controlled by fear and greed.

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100% found this document useful (1 vote)
390 views1 page

Rich Dad Summary Mindmap Part 1 PW

The document discusses how life pushes people and their responses to challenges. It notes that most people leave jobs due to low pay, while a few learn lessons and move on. The document contrasts how the poor and middle class work for money out of necessity, while the rich have money work for them. It suggests people's lives are controlled by fear and greed.

Uploaded by

dedfed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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“ LIFE PUSHES ALL OF US AROUND.

SOME PEOPLE GIVE UP AND OTHERS FIGHT.


“ MOST PEOPLE LEAVE THEIR JOBS

BECAUSE THEY AREN’T RECEIVING ENOUGH MONEY.


A FEW LEARN THE LESSON AND MOVE ON. THEY WOULD HAVE ALREADY QUIT.
THEY WELCOME LIFE PUSHING THEM AROUND THE WEALTHY SEE IT AS AN OPPORTUNITY TO LEARN

” ”

Life will push you around

“ “ “
1 +
PEOPLE’S LIVES
THE POOR
AND MIDDLE CLASS WORK
One of life’s biggest traps
+ THEY WORK VERY HARD
ARE FOREVER CONTROLLED BY TWO

LESSON
FOR LITTLE MONEY, CLINGING TO THE
FOR MONEY. THE RICH HAVE Fear and Greed EMOTIONS:
MONEY WORK FOR THEM. ILLUSION OF JOB
FEAR AND GREED


SECURITY...3 WEEKS VACATION....AND


A SKIMPY PENSION

THE RICH DON’T WORK FOR MONEY Seeing what


others miss

INCOME STATEMENT INCOME STATEMENT


INCOME INCOME

“ EXPENSES

+
EXPENSES

2
IT’S NOT HOW MUCH MONEY
ASSETS

LESSON
IT’S NOT HOW MUCH MONEY YOU MAKE IT’S HOW MUCH
VS BALANCE SHEET BALANCE SHEET
YOU MAKE IT’S HOW MUCH MONEY YOU KEEP
MONEY YOU KEEP LIABILITIES ASSETS LIABILITIES ASSETS LIABILITIES

” ”
WHY TEACH FINANCIAL LITERACY?
ASSET LIABILITY
Habit
Your home is NOT an
asset

Cash-Flow
Patterns
+ JOB
INCOME STATEMENT
INCOME
JOB
INCOME STATEMENT
INCOME
INCOME STATEMENT
INCOME
DIVIDENDS
RENTAL INCOME
SALARY SALARY ROYALTIES
INTEREST

EXPENSES EXPENSES EXPENSES


FOOD TAXES TAXES
RENT MORTGAGE REPAYMENTS MORTGAGE REPAYMENTS
TAXES CREDIT CARD PAYMENTS
TRANSPORTATION FOOD AND TRANSPORTATION

BALANCE SHEET BALANCE SHEET BALANCE SHEET


ASSETS LIABILITIES ASSETS LIABILITIES ASSETS LIABILITIES
CAR LOANS HOME LOAN

CASH FLOW PATTERN


STOCKS

CASH FLOW PATTERN CASH FLOW PATTERN


HOME LOANS REAL ESTATE CONSUMER LOANS
CREDIT CARD DEBT BONDS CREDIT CARD DEBT
Main ways to get out of SCHOOL DEBT BUSINESSES
INTELLECTUAL

the Rat Race OF A POOR PERSON OF THE MIDDLE-CLASS OF A RICH PERSON


PROPERTY

INCOME STATEMENT
INCOME


EXPENSES

+
BALANCE SHEET
+
3
THE RICH FOCUS ON ASSETS LIABILITIES
Put your savings into

LESSON
THEIR ASSET COLUMNS WHILE EVERYONE ELSE FOCUSES

ON THEIR INCOME STATEMENT REAL Assets

” BALANCE SHEET
LIABILITIES

MIND YOUR OWN BUSINESS


ASSETS
Your 24 hour employees


EACH DOLLAR IN MY ASSET COLUMN WAS

A GREAT EMPLOYEE
MAKING MORE EMPLOYEES
TO BUY THE BOSS A NEW PORSCHE

ESCAPING
ORDINARY
PART II - COMING SOON....

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