Rich Dad Education

by Lynn

Several years ago, I come come from college, and my mom tells me that her and my dad have been listening to his “Rich Dad” man talk about making money.  In my mind, I thought: “Great, my parents have been caught in a pyramid scheme, and now they’re going to join a cult.”  She handed me a CD and told me to listen to it.

It wasn’t until I realized that NPR and the morning radio shows couldn’t keep me entertained everyday during my communte to work did I actually listen to the 45 minute introductory speech on “Evaluating Opportunities in Business and Real Estate”.

My takeaways:

  • you can’t actually afford to make money unless you have money; we’re talking at least 1 million
  • when you have money, don’t be afraid to make smart calcuated risks
  • be sure to throughly understand financial reports and do your homework!  invest in educating yourself or finding the resources (people, organizations) that know more than you do
  • if you buy property, you should expect 100% return on investment
  • mutual funds are for the uneducated (according to Rich Dad) but makes sense for those who don’t have the time to learn or money to invest.

I am sure to share when I have other good life lessons from audiobooks.