Book Report on Rich Dad Poor Dad - 1762 Words

KNUTSFORD UNIVERSITY COLLEGE KNUTSFORD BUSINESS SCHOOL ENTERPRENEURSHIP BOOK REPORT: Rich Dad Poor Dad by Robert T. Kayosaki with Sharon L. Lechter, CPA WRITTEN BY: Richmond Gyamfi Boateng (KBS0035) LECTURER: MR. ANTHONY ANNAN MONDAY APRIL 4, 2011 Rich Dad Poor Dad is a book that presents thought provoking teachings on wealth creation and financial independence. The book can be describes as a narrative motivational novel that features four interesting characters, Rich Dad, Poor Dad, Mike and Robert (the author). Poor Dad is a highly educated professor who despite have worked hard over the years barely meets his household expenses. His believe on money was that money is root of all evil. Rich Dad on the flip side was a school†¦show more content†¦Ã¢â‚¬Å"I don’t like being an employee†. 2. Use the power of choice, daily. You can choose to watch GTV, or watch TV3. It’s how you choose to use your time and energy everyday that brings financial success in the long run. 3. Choose your friends carefully. It pays to have friends who are focused and achieving their goals. Surround yourself with friends you can learn from. 4. Master a formula. Learn a new one, and learn fast. 5. Pay yourself first. Practice self-discipline by keeping expenses low. Tenants can pay for your expenses if you rent out apartments or ministorage, for instance. Savings are used for investing and creating more money, not for paying bills. 6. Pay your broker well. Attorneys, accountants, stockbrokers, and real estate brokers will have more incentive to work harder for you. If they make more money, it means you make more money as well. 3-7% is a good incentive. 7. Be an Indian giver. It’s the concept behind ROI. (Return on investment) Invest and then take the initial money out after a time when the investment has earned for you. 8. Buy luxuries last. Let the income from your growing assets afford you the new car. Wait for your asset base to grow first. Middle class people buy luxuries first, on credit. 9. Find yourself a hero. When you play golf you can imagine you are Tiger Woods. When you do business, you can ask yourself, â€Å"What would George Soros have done if he was in my place right now?† 10. TeachShow MoreRelatedBook Report on Rich Dad Poor Dad1750 Words   |  7 PagesENTERPRENEURSHIP BOOK REPORT: Rich Dad Poor Dad by Robert T. Kayosaki with Sharon L. Lechter, CPA WRITTEN BY: Richmond Gyamfi Boateng (KBS0035) LECTURER: MR. ANTHONY ANNAN MONDAY APRIL 4, 2011 Rich Dad Poor Dad is a book that presents thought provoking teachings on wealth creation and financial independence. The book can be describes as a narrative motivational novel that features four interesting characters, Rich Dad, Poor Dad, Mike and Robert (the author). Poor Dad is a highly educatedRead MorePersepolis Symbols Essay879 Words   |  4 Pagespleasures and freedoms because this government forbids Iranian families the ability to control their own lives. 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She advises her more seasoned companions that not even the Americans have an armed force as extensive as the Iraqi one that has as far as anyone knows as of nowRead MoreFinancial Literacy8522 Words   |  35 PagesFINANCIAL LITERACY â€Å"Financial literacy is one of the most important investor basics, especially if you want to be a safe investor, an inside investor, and a rich investor. Anyone who is not financially literate cannot see into an investment. Just as a doctor uses X-rays to look at your skeletal system, a financial statement allows you to look into an investment and see the truth, the facts, the fiction, the opportunities, and the risk. Reading a financial statement of a business or individualRead MoreThe Year Of The Flood By Margaret Atwood1993 Words   |  8 PagesENG4U - Interim ISU Progress Report The book I have chosen to read for my ISU is Margaret Atwood’s ‘The Year of the Flood’. The book has 434 pages in total and I am currently on page 170. 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Western debt-based, consumption-driven societies have been living beyond their means for a very, very long time. For decades we have been consuming, as a group of people, more than we have been producing and we ve been financing it by mortgaging our children s future through national debtRead MoreAHSC 20Assignment Essay5025 Words   |  21 Pageswith a different language and climate would limit leisure opportunities shows the importance of providing leisure opportunities for people with such limitations. Part 1: Understanding/Recognizing how Free Time is spent This portion of the report is largely based on data I collected in a time diary (see appended materials). This diary contains all of my activity in half hour intervals over three days. In addition to a description of my activity, I recorded my mood during the time period andRead MoreEssay on Human Gene Therapy1921 Words   |  8 PagesHuman Gene Therapy Imagine this, you have just married your college sweetheart this past summer. You have now been happily married for over a year and you find out that the two of you are going to be parents. So as the typical soon to be mom and dad so commonly do, the two of you start going to the doctor for checkups to make sure the pregnancy is running smoothly. Early in the pregnancy you hear the worst, your baby has a fatal disease. The two of you are terribly heart broken over the situation