Podcast
Questions and Answers
What is the main difference between how the rich and the poor make money?
What is the main difference between how the rich and the poor make money?
- The rich acquire assets to make money for them, while the poor trade their time for money. (correct)
- The rich trade their time for money, while the poor acquire assets.
- The poor focus on their assets, while the rich focus on their income statements.
- The poor see opportunities to invent money, while the rich work for job security.
What is one of the biggest legal tax loopholes used by the rich to make and keep more of their money?
What is one of the biggest legal tax loopholes used by the rich to make and keep more of their money?
- Investments in foreign countries
- Corporations (correct)
- Real estate investments
- Offshore bank accounts
What is financial literacy?
What is financial literacy?
- Knowing how to invest in the stock market
- Knowing how to start a business
- Understanding how to make money quickly
- Understanding the difference between assets and liabilities (correct)
What is financial IQ?
What is financial IQ?
What are some obstacles to becoming rich?
What are some obstacles to becoming rich?
What is the focus of the rich?
What is the focus of the rich?
What tends to make the most financial progress, even if someone is not as smart as others?
What tends to make the most financial progress, even if someone is not as smart as others?
What are ten steps to awaken your financial genius?
What are ten steps to awaken your financial genius?
What do the rich do when they see opportunities to invent money?
What do the rich do when they see opportunities to invent money?
What is the book Rich Dad Poor Dad about?
What is the book Rich Dad Poor Dad about?
Flashcards
Rich vs. Poor Moneymaking
Rich vs. Poor Moneymaking
The rich build assets that generate income, while the poor sell their time for wages.
Rich Tax Loopholes
Rich Tax Loopholes
Corporations allow the rich to legally reduce their tax burden.
Financial Literacy
Financial Literacy
Knowing the difference between assets (things that make money) and liabilities (things that cost money).
Financial IQ
Financial IQ
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Obstacles to Riches
Obstacles to Riches
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Rich Focus
Rich Focus
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Financial Progress
Financial Progress
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Rich Opportunity Strategy
Rich Opportunity Strategy
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Rich Dad Poor Dad
Rich Dad Poor Dad
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Financial Genius Awakening
Financial Genius Awakening
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Study Notes
- Rich Dad Poor Dad is a book by Robert Kiyosaki about his two dads, one rich and one poor.
- The rich acquire assets to make money for them, while the poor trade their time for money.
- Financial literacy is essential to become wealthy, understanding the difference between assets and liabilities.
- The rich focus on their assets while everyone else focuses on their income statements.
- Corporations are one of the biggest legal tax loopholes used by the rich to make and keep more of their money.
- The rich see opportunities to invent money and work to learn, not for job security.
- Overcoming fear, cynicism, laziness, bad habits, and arrogance are obstacles to becoming rich.
- Ten steps to awaken your financial genius include having a strong reason to pursue financial independence, choosing friends carefully, and using assets to buy luxuries.
- Financial IQ is a synergy of accounting, investing, understanding markets, and the law.
- Boldness and risk-taking tend to make the most financial progress, even if someone is not as smart as others.
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Description
Test your knowledge on the key concepts and principles from the book 'Rich Dad Poor Dad' by Robert Kiyosaki, including financial literacy, assets vs. liabilities, and steps to awaken your financial genius.
