...Lizet Moreno Professor Allen October 7, 2013 Rich Dad Poor Dad In the book rich dad and poor dad basically was summons up that for an individual to be wealthy, one must aim to own the system or means of the production. In other words the book shows you how to strive for success, there is different types of ways to succeed like the book tells you. The rich dad and poor dad both had strong point of views in earning and succeeding in life, in my opinion I would have followed on the same footsteps Kiyosaki did in following his rich dad. It is true when his poor dad says in order to get somewhere in life you have to get a good education and have a secure safe job but that really isn’t the path to become a wealth person. The rich dad’s opinion differ from the poor dad, he said in order to become wealth you first need to understand how money works. Based on the book rich dad poor dad it taught me and changed my mind in how to deal with money and finance. That financial literacy is key, also rather own business instead of work at them. Also it thought me to understand taxes and the power of corporations. One thing that he helped me understood was when he was explaining that the rich don’t work for money; they force money to work for them, when the rich required assets then liabilities. To know the difference an asset and liability, He quoted that “in order to be truly wealthy, your asset column must be robust and able to offset your living expenses” and that most people think...
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...taught that financial intelligence is the way to be rich. People today are desire money and are afraid of not having money; they spend their lives working for money. Kiyosaki says we need to have money work for us. Kiyosaki wanted to grow up not having to live in the “rat race”. He wanted to be able to go where he wanted to go, do the things he wanted to do, to not have anything holding him down, and that is why he strived to become “rich”. This book is for of guide lines that Kiyosaki used or experienced and he wants others to learn from. The first chapter Rich Dad Poor Dad is where Kiyosaki introduces his two fathers. He says, “one was highly educated and intelligent;… [and the other] never finished the eighth grade.” Both his fathers were strong and influential, and both were successful in their careers; but one struggled financially all his life and the other became one of the richest men in Hawaii. Kiyosaki was glad to have two fathers to learn from learned from. He was able to see the point of view of both the poor and the rich. Even though the time he started learning from them when he was nine years-old the rich dad was not yet rich and the poor dad not yet poor. At the age of nine Kiyosaki started listening to his rich dad. Rich dad taught six main lessons. The second chapter was the first lesson, The Rich Don’t Work for Money. Kiyosaki asked both dads if they could teach him how to get rich. Poor dad, Kiyosaki’s dad, responded that you need to make money. When asked...
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...Many people work very hard, but they never seem to earn enough. In Rich Dad, Poor Dad, Robert Kiyosaki explains how to escape this "rat race" and achieve financial independence. According to our general perception everybody should go to school, get high grades and then get a good job, right? Wrong! Well, at least if financial independence is what you are aiming at. Our education system is the number one cause of why so many people struggle financially. Schools teach people how to work for money, but they do not teach them how money can work for them. This lack of financial skills taught in school means that even highly educated people generally do not know how to handle money. The result is that the majority of people get trapped in work to pay their bills and are chasing paychecks all their life. This is the sad conclusion Robert Kiyosaki draws in his bestselling book Rich Dad, Poor Dad. Luckily, he also offers a way out. A way to get ahead. The fundamental trouble with working for money is that a job is a short term solution to a long term problem. People believe that if they get that raise, or get a new job they will finally have enough. However, if you do not know how money works, you can never have enough. Money alone will not solve anything, it will even get most people into more debt. So what is the secret to financial independence? Close the doors.. "Know what an asset is, acquire them and become rich." That's it! Easy, huh? The trouble is that people are not properly...
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...application of the contents of this book. Although based on a true story, certain events in the book have been fictionalized for educational content and impact. RICH DAD’S GUIDE TO INVESTING. Copyright © 2000 by Robert T. Kiyosaki and Sharon L. Lechter. All rights reserved. No part of this book may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the publisher, except by a reviewer who may quote brief passages in a review. Published in association with CASHFLOW Technologies, Inc. “CASHFLOW” is the trademark of CASHFLOW Technologies, Inc. For information address Warner Books, 1271 Avenue of the Americas, New York, NY 10020. A Time Warner Company ISBN 0-7595-8139-8 A trade paperback edition of this book was published in 2000 by Warner Books. First eBook edition: February 2001 Visit our Web site at www.iPublish.com ACKNOWLEDGMENTS On April 8, 1997, Rich Dad Poor Dad was formally launched. We printed a thousand copies, thinking that quantity would last us for at least a year. Over a million copies later, and not a dollar spent on formal advertising, the success of Rich Dad Poor Dad and the CASHFLOW Quadrant continues to amaze us. Sales have been driven primarily by word of mouth, the best kind of marketing. Rich Dad’s Guide to...
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...Verania, Angelica M. BSA 2-10 ECON 2013 Prof. Aileen Camba “Rich Dad Poor Dad” Summary Robert Kiyosaki has two fathers, one is his poor dad and the other one is his rich dad. His educated dad whom he calls his poor dad is his biological father and his rich dad is Mike‟s, his best friend, father. Both have their own perspective about money and both have different principles in life. As a kid, Robert wanted to know how to get rich because they were tired of other kids not wanting to play with them because they were 'poor kids'. His educated dad told him to learn how to make money. Since he was still a kid that time, he and his best friend Mike came up with a plan of literally making their own money. His educated dad and suggested to seek for Mike‟s father, his rich dad, help because he, himself, doesn‟t know how to make money. This is the start of their journey to becoming rich. There are 6 lessons that are emphasized in this book. Lesson #1: The Rich Don‟t Work for Money Lesson #2: Why Teach Financial Literacy? Lesson #3: Mind Your Own Business Lesson #4: The History of Taxes and the Power of Corporations Lesson #5: The Rich Invent Money Lesson #6: Work to Learn – Don‟t Work for Money The Rich Don’t Work for Money This chapter shows why the poor and middle class don‟t get rich. It is because they keep on working for money, fear and greed cause ignorance and poverty. We were taught of getting a secure and safe job meaning, working for money. Their fear of having no money...
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...Books in the Rich Dad Series Rich Dad Poor Dad What the Rich Teach Their Kids About Money That the Poor and Middle Classes Do Not Rich Dad’s CASHFLOW Quadrant Rich Dad’s Guide to Financial Freedom Rich Dad’s Guide to Investing What the Rich Invest in That the Poor and Middle Classes Do Not Rich Dad’s Rich Kid Smart Kid Give Your Child a Financial Head-Start Rich Dad’s Retire Young Retire Rich How to Get Rich Quickly and Stay Rich Forever Rich Dad’s Prophecy Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit from It! Rich Dad’s Success Stories Real-Life Success Stories from Real-Life People Who Followed the Rich Dad Lesson The Business School for People Who Like Helping People The Eight Hidden Values of a Network Marketing Business Rich Dad’s Guide to Becoming Rich Without Cutting Up Your Credit Cards Turn “Bad Credit” into “Good Credit” Rich Dad Poor Dad for Teens The Secrets About Money—That You Don’t Learn in School! Rich Dad’s Before You Quit Your Job 10 Real-Life Lessons Every Entrepreneur Should Know About Building a Multimillion-Dollar Business Why We Want You to Be Rich by Robert Kiyosaki and Donald Trump Provide Insight on How to Improve Your Financial Future Rich Dad’s Increase Your Financial IQ How to Get Smarter with Your Money Rich Woman: A Book on Investing for Women How to Take Charge of Your Money and Your Life Conspiracy of the Rich: The 8 New Rules...
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...economically resources mean that much? Utterly doesn’t money tell anything about how you behave towards other beings? When people look down on their neighbor just because they know the person is not able to afford certain things, which for them seems strange, they do not behave humanly. Poverty is somehow a state of mind. If you yourself, think that you are rich, you are rich, and converted if you think you are poor you are poor. Your fellow human being cannot cure your own thoughts of yourself feeling poor. The only solution on problems, which you are dealing with, is yourself and the way that you are thinking. Furthermore does social heritage have an influence on how a child is behaving? In the essay “Poverty is a state of mind” written by Bernard Hare, we are told about this principal character who has been born into poverty in 1958. It is quite early revealed that his parents are getting low wages – but in spite of the lack of money, they are able to afford the most basic necessities of life. The society is described as a peaceful society where hospitality is huge part. Though he has an idea that they are poor, he explains that his life was filled with warmth, love, shelter etc. The main character is described as a ragged and bolshy boy, with an inquisitive mind. In this example the author uses a contrast between the main character and the other students at the grammar school. It is a rather interesting author choice, because the reader, gain an insight into the persons...
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...friends. We were pretty rich if you could call it that. Well, we had lots of income between my mom and dad. Mom was a schoolteacher, and Dad, well let's just say dad was out a lot. And to this day, I don't know why he was gone or where he was, or what he was doing. There were always haters out there. I knew that from the day I turned 5 years old. My dad, mom, aunts, uncles, and cousins came over to celebrate my birthday. We just finished...
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...Social Mobility Paper Willie J. Williams Jr. University of Phoenix/Sociology 100 Becky Russell December 14, 2009 “Introduction” Citizens can move up or down the social ladder throughout their existence or from one generation to the next. Everyone is offered the same chance and opportunity at improving their lives socially and the way each generation handles adversity lies behind the idea of equal opportunity and how you utilize your god giving talents. Social Mobility Social Mobility is measure in one by seeing whether rich parents give birth to rich kids and poor parents give birth to poor kids, or see if the incomes of parents and their children are distinct. Can children of poor parents become rich? It looks as though the American Dream is far more likely to remain a mirage for Americans than it is for citizens residing in other countries. A larger disparity of results seems to make it effortless for wealthy parents to leave their advantages. While income differences have expanded in the USA as well as Britain, social mobility has slowed up. Bigger incomes contrasts can make it tougher to attain opportunity fairness because they amplify social class segregation and possibly bigotry. Willie James Williams Sr. Willie James Williams Sr.; born the 3rd child of Frank and Alma Williams on the 4th of July, 1939. He didn’t get to know his father like most sons do, because his father was killed on the train tracks of Sylacauga, Alabama. The cause of death was stated in a report...
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...The secret to one’s success is not just ability, but the focus, determination and plans of the individual. In the short term I am focused on working hard, excelling and graduating with flying colors. In the long term I want to be central to the ever growing economy of Oman, while also focusing on developmental projects in the Philippines with core efforts on the provision of basic needs for those less fortunate and becoming one of the prominent business women of my generation. I have grown up in an environment full of competition and the only way to fully succeed is through self-actualizing and striving to be the best. This has not just benefited me academically, but it has also given me a greater understanding of myself. Since my days in primary school, I have continuously been moved from place to place which has not always been easy, however, the benefits outweigh the drawbacks: it has given me a great opportunity to widen my social circle and improve my interactive skills as I socialize with individuals from different backgrounds, beliefs and all with their own distinct and wonderful personalities. This has allowed me to adapt and to be flexible throughout the transition of moving from one place to the next. This allowed me to focus on my education and eased the challenges that came with it. Even in such an unstable childhood, I have continuously achieved academic excellence. The first step that I took to know where my real passion lie is by asking myself, “Where do you...
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...[Me] and some of [my] air force buddies were on a cliff of the canyon, trying to work up the nerve to dive into the lake forty feet below, when Mom and a friend drove up… She looked just a movie star… but hell, [I’d] met lots of beautiful women before, and none of them had ever made [me] weak in the knees… Mom walked ip to [us] and told them that diving off the cliff was no big deal, she’d been doing it since she was little… so Mom went right to the edge of the cliff and did a perfect swan dive into the water below. Dad jumped in after her”...
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...------------------------------------------------- Poverty is a state of mind “If you think you’re poor, you’re poor. If you think you’re rich, you’re rich. No-one is ever going to come along to cure your poverty. The only solution is to do it yourself.” These words are incisive. But is this the naked truth? “Poverty is a state of mind” (2012), written by Bernard Hare, deals with the idea of poverty as a mind-set. In this essay I will analyse and comment on Bernard Hare’s essay, based on a study of the writer’s use of contrasts and the use of his own experiences during the essay – lastly with an investigation of the writer’s intention. (115) Bernard Hare’s essay was originally broadcasted on BBC Radio 3 as a radio essay in 2012, later on, it was reprinted on BBC’s website. The story basically takes place in Leeds, in the North of Britain. We are following Hage through his upbringing in a poor environment. His father worked as a coal miner, and his mother was a shop worker in a department store. The events of the story are listed in chronological order - from back in the days where Hare was a child, spending his days among the cobbled terraces of east Leeds, to 1968 when his family got their first black and white television, and lastly he is taking us to the present, through his experiences as an alcoholic...
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...Snopes, the son of Abner Snopes. Sarty is10 years old and he’s the one narrating the story. He follows his dads every order because Abner explains, “You’re getting to be a man, You got to learn. You got to learn to stick to your own blood or you ain’t going to have any blood to stick to you.” (Faulkner 175) He listens to his dad because they’re family and he knows he needs to do what he’s told. Near the end of the story Sarty finally voices his disagreement with his father’s destructive nature and ends up turning his father in for doing bad. He’s the protagonist because he overcomes his fathers influence and chooses to do the right thing. The antagonist of course is his father, Abner Snopes. He’s a serial arsonist, revenging anyone who he believes has done him wrong. Sarty describes his father out of spite, “his father held and saw the stiff foot come squarely down in a pile of fresh droppings where a horse has stood in the drive and which his father could have avoided by a simple change of stride.” (Faulkner 176) Abner with his manure covered foot then “pivoted on the good leg, and saw the stiff foot drag around the arc of the turning, leaving a final long fading smear.” (Faulkner 177) He purposely stepped in manure and wiped it on de Spains home rug to destroy a piece of their property. He resented the rich and shows them what he thinks of people who get rich off a poor mans labor. His character spends the whole story antagonizing Sarty, trying to get him to stand along side...
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...compared to the underlying issues of American’s binging problems. Quindlen’s essay gives excellent points regarding the differences in America’s typical shopping habits. Additionally, she mentions how people acquire all this “stuff” but seem to never realize, “why did I get this?”(501). Quindlen makes her audience visualize a world where we acquire our needs versus our meaningless desires. Yet, she fails to mention people who could live a life of happiness through the possessions they acquire. In summary, Quindlen supports her point of view with examples of American spending habits in the past decades of depression compared to now. She mentions Black Friday and how people become enthralled by cheap bargains (Quindlen 500-501). In Quindlen’s essay, she refers to an accident in which a worker at Walmart was trampled to death by a mob of shoppers and despite the horrific incident people kept shopping (500). With the U.S. depression, Black Friday brings hopes of more money spent, therefore a rise in the markets. The dream of an uplifted economy became unrealistic as people began to realize they could not afford their desirables, not even at a low cost. Today, Americans have an exorbitant amount of credit debt so they can acquire items that they want, without actually paying for them outright, for example, the Chatty Cathy doll Quindlen wanted in her childhood compared to the orange her dad received that had to be paid for (500-501)....
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...(Average Revenue) (Marginal Revenue) 1.) a.) # Of Operations | Total Harvest | Average Harvest | Marginal Harvest | Marginal Profit 0 0 0 0 0 1 40 40 40 15 2 75 37.5 35 10 3 105 35 30 5 4 130 32.5 25 0 5 150 30 20 -5 6 165 27.5 15 -10 7 175 25 10 -15 8 180 22.5 5 -20 9 182 20.22 3 -22 b.) To figure out the number of logging operations that maximizes the total profits in the logging industry, the number of operations in a stretch of rainforest should be operating up to a set point where the value of the addition to the total harvest exceeds the opportunity cost of a logging operation. The number of operations should stop at four since the fifth operation would bring in $20,000 in marginal revenue, which is less than enough to cover the costs of $25,000 per week. With that being said, four operations would maximize total profits in the industry. When we add up the difference between marginal revenue and marginal profit for the first four boats, the resource rent is $30,000 per day. c.) If profit-maximization is the only guiding principle to enter the logging industry, there will be a constant stream of newcomers looking for a profit and taking advantage of the open access but this then results in a huge problem. “If...
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