What is the main message of Rich Dad Poor Dad?

The overarching theme of Rich Dad Poor Dad is how to use money as a tool for wealth development. It destroys the myth that the rich are born rich, explains why your personal residence may not really be an asset, describes the real difference between an asset and a liability, and much more.

What are the three different types of income Rich Dad Poor Dad?

You should have a solid understanding of the three types of income—earned, portfolio and passive—and a basic understanding of how taxes affect each income stream.

What does Rich Dad Poor Dad say to invest in?

To avoid such pitfalls, Kiyosaki’s “rich dad” taught his son the number one rule — “the only rule” — for getting and staying rich: “Very simply, the rich invest their money in assets that put more money in their pockets, such as real estate, stocks, bonds, notes, and intellectual property,” he explained.

What is the difference between rich dad and poor dad?

“Poor dad” saw his job as his source of income for life. While “rich dad” taught Kiyosaki to strive to become financially independent, “poor dad” taught him to depend on his employer for his financial well being. While “poor dad” stressed scholastic education, “rich dad” always stressed financial education.

What are 3 types of incomes?

There are three types of income- earned, portfolio and passive. There is also a small subset of passive income called non-passive income.

What is the difference between rich and poor mindset?

Rich mindset understands that it can never know everything, and that something can be learned from everyone. Poor mindset deludes itself into believing it knows everything, and that opposing perspectives are wrong before even hearing them.

What are the 3 types of income tax?

Discover the three basic tax types—taxes on what you earn, taxes on what you buy, and taxes on what you own.