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Saturday, March 29, 2008

Following is the extract of book ''RICH DAD POOR DAD" Author- Robert T. Kiyosaki,
I found this book very interesting. In between I found this analysis ...
The likelihood that a child born into a poor family will make it into the top five percent is just one percent, according to "Understanding Mobility in INDIA," a study by few economists. By contrast, a child born rich had a 22 percent chance of being rich as an adult.
"In other words, the chances of getting rich are about 20 times higher if you are born rich than if you are born in a low-income family."
whatever be the inter generational transmission of inequality, this book states many clear facts about people's perception about MONEY.
Too many people are focused too much on money and not their greatest wealth, which is their education. Money doest not solve problems, that is intelligence which solves problems and produces money. It is not how much money one make, it is how much he keeps.
An intelligent person hires people who are more intelligent than he is. Wealth is a person’s ability to survive so many number of days forward or if he stopped working today, how long would he survive ?
"The rich buy assets, the poor only have expenses,
the middle class buys liabilities, they think are assets."
Financial IQ- ability that allows one to identify the strengths and weaknesses of any business.
The excessive fear and self doubt are greatest detractors of personal Genius.
Poor and Middle class work for money and Rich make the money. The more real you think the money is, the harder you'll work for it; so grasp the idea that money is not real. The main reason most of people are not rich is because they are terrified of losing. Winners not afraid of losing. Failure is a part of success. People who avoid failure also avoid success. Failure would make you stronger and smarter and it inspires to be winner. Many play not to loose, they don't play to win.
Listening is more important than talking, God wouldn't have given two ears and one mouth.
Too often today, we focus to borrowing money to get the things we want instead of focusing on creating money. The easy road often becomes hard and hard road often becomes easy.
All one needs to remember is first to give what you have and it will come back in droves.
It's true that your world is only mirror of you; so be generous with what you have.
It is what in your head that determines what is in your hands.
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