ROBERT T KIYOSAKI ...Rich Dads Guide to becoming a rich

Everything  has a price, becoming rich also has a price, Rich dad taught me a priceless lesson, Rich have more debts than the poor, The middle class and poor have more bad debts, Bad debts are money borrowed to purchase rapidly depreciating Assets, or are used for the purpose of consumption, , Good debt has the potential to increase your networth, or enhance your life in a better way, 

What is your Networth ? 

Subtract your total liabilities from your total Assets, 

Total Assets include your investments, saving, cash deposits, or any Equity that you have in the form of home, car, or any such similar Assets, Liabilities include any debt such as student Loan or credit card debt. 

People who do not respect the power of debt get wounded or killed, 

Debt has the power to make you very rich or make you very poor, 

Get out of debt and live below your means, If you want to be rich, cutting the credit card debt Will not solve your problems, neither will it make you, 

We all are different and we all make different choices, in our life, 

Total Assets = Account receivables + inventories + net fixed Assets + cash at banks.

Total Liabilities = total debts you owe to outside party, 

Debts make you more creative, innovative. Demands of creditors, and investors, 

What is LUCK ? Labour under correct knowledge.  

Spelling of LUCK...is WORK.

Build your Assets कॉलम, grip on your spending habit, stop buying on impulse,  eliminate those areas that drain your.energy, start looking at the better future, Rich dad philosophy,  secured debt, ( car, gold, land )and unsecured debt ( credit , medical card ) eliminate as soon as possible,  let's focus on getting rid of bad debts, once you have put the bad debt off, wonderful feeling u are no more slave to monthly bills, 

Chapter 6

What is the price of change, insanity , doing the same thing time and again and expecting different results, fear of the unknown that does not allow people to change, people do not change because they have become the prisoners of their own doubts and Fears, price of becoming rich is to do different things, change more than your jobs, changes within E quadrants, Tax laws are the hardest is E quadrant, Tax laws are also tough in Self employee quadrants, if u want to become rich change quadrants,  there is no guarantee but chances improves, most of the rich they come from B & I quadrants, 

The learning Pyramids, great spirits and medicore minds, Go and invest in real estate and become rich, New mental idea, Acquire some good debts and become rich, Financially free by acquiring some good debts, fear of fail causes most of the people fail in their life, Banker never asks for your school grades but your financial statements,  what worked in war may not work in peace, 

My real report cards is my financial statements, 

If I am willing to change, I will be more successful socially, Financially and professionally, 

What is Lag Time ?

Time between a new ideas conception and it's Acceptance by the industry. 

In the world of business, the two industries with the longest lag times are the education industry and the construction industry.

In the aerospace  industry, the lag time is two years, it means it take only two years for a new idea to be conceived and then adopted by the industry.