Rich dad poor dad - Summary

Hi... As one of my friend asked for a small summary of one of my favorite book 'Rich dad poor dad' .. here I go .. (apologize for delay clouds :) )...

1. Describes what a poor parent teaches their children about money as oppose to what rich parents teach their children about money.

2. Poor and middle class work for money. Rich have money work for them.

3. Financial literacy - Money without financial intelligence is money gone soon.

4. Buy assets and reduce liability...but hardest thing is to differentiate between asset and liability

5. Cash flow of rich and poor people (one of my favorite topics of the book)

Assets - Put money to your pocket e.g. share, business etc.
Liabilities - Takes money out of your pocket e.g. home (yes, he challenges the very notion of home being the greatest investment, car etc.)

How to increase the asset quadrant and reduce the liability quadrant -

6. Describes Power of taxes. How rich use taxes to their advantage -

Rich -- Earn -> Spend -> Pay Tax

Poor -- Earn -> Pay Tax -> Spend

(see the reversal in order of Pay tax and Spend)

7. Practical tips on how to begin and act.

The great thing about the book is that its not a 'get rich quick' book. It doesn't teach you any shortcut for getting rich, but it teaches you the financial wisdom which can help you increase your wealth.

A Tribute to GOD of Cricket

Sachin Tendulkar is really God of Cricket. Almost all the records of cricket are owned by him. There are no apparent weaknesses in Tendulkar’s game. He can score all around the wicket, off both front foot and back, can tune his technique to suit every condition, temper his game to suit every situation, and has made runs in all parts of the world in all conditions.


Some of his finest performances have come against Australia, the overwhelmingly dominant team. He is really most complete batsman of the world. Sachin is soon going to make another record of having most followers as since he joined Twitter.
Tendulkar’s considerable achievements seem greater still when looked at in the light of the burden of expectations he has had to bear from his adoring but somewhat unreasonable followers. We all need to follow Sachin on Twitter so that he makes another record and once again make the nation proud.

Tendulkar is a living legend but still he lives a very simple family life. He celebrates his birthday with simplicity and he is a family man. He is in real sense, youth icon of world. After making 200 runs in ODI, the world is sure that Sachin would be first and last man to make 100 centuries in International Cricket.

Rich Dad Poor Dad... A must for financial novice...

One of the most amazing and enlightening book on personal finance management, I have ever come across. Robert Kiyosaki's simple writing style with a story narration will bind you to the book. The essence lies in the fact that the book never preaches anything yet by the end of every chapter you would brutally face some of the untaught realities of life.

Robert attacks the very myth of common people who teaches their child to study hard, earn good grades and then join a GOOD job with secure future. He thinks that this very psychology of getting a good secure job without knowing the money management basics pushes a person into the vicious circle of working -> earning -> working -> earning. He described this as rat race and the goal of the personal money management should be to come out of this rat race.

I recommend each one of us read this book and also instill the basics of money management to our next generation.

What Goes Around--Comes Around

Why some people have bags of money and some are paupers? Why some people get respect from all and some people live their life in mediocrity? Why some people get attention from all and some are hardly listened?

I was going through a study on people. I wanted to know is it true that “ what goes around, comes around” I studied life of many people and I was taken aback by the results that it is 100% true. If you want money, give it away. You want respect give it away. You want love then give it away. It’s the easiest funda of living life in the way we want. In addition I’d say if you want message then send message to friends :)
It is synopsis of my study that whatever we do to other people will come to us back. Trust me it WILL come to us, it might not be in exact way but it will come in time. We’ll have to payback.

Now something interesting, my neighbor’s daughter eloped with her boyfriend yesterday. Lots of hue and cry is going on in the neighborhood. But I believe if the girl and boy are happy with each other then there should be no one protesting for their happiness whether it is parents, relatives, neighbors, friends or their ex- boyfriends or ex-girlfriends…. :)

maturity

One thing I wonder whole world around me is getting mature. Only I am still immature. Whenever I talk to somebody I feel that the person is more realistic and mature now. Often I feel happy for it but I ask myself when is my turn to be mature??

I don’t know maturity is good or bad but mere me maturity kab ayegi yar…??? When I get mature only then I can say that it’s good or bad. If you want to know, then wait….

Uncommon Cold

My head has become woollier, my eyes waters, my nose tips have become rough, my throat pains, I don’t feel like eating, I am not liking anything, I did almost nothing today, my mind has become obscure, I don’t know what am I exactly doing….

Clear symptoms of common cold :)
Couple of days ago I was reading a blog on cold and I didn’t realized it that I would be soon in the condition of writing on common cold. Cold is a communicative disease but does it spread by reading blogs on cold? :)Just kidding…

Rite now my granny called me for “Najar utarna”, it means to remove evil eye. I can’t say it works or not but its only about how much she cares for me. Now I am back in my room and just wondering what to do now?

WWW

Whenever someone asks me what are you studying, I say I am pursuing P.G.D.M. from Dehradun. And then people react as wow Dehradun, hill station, how far, what’s there to see, for what it is famous and so on….

I just say them that it’s famous for its cooling climate, Mussoorie, for I.M.A. and for F.R.I.

So now I am disclosing for what Dehradun is actually famous for. It might be of interest to outsiders but my friends of college know it very well and may add in this list. :)

List is simple -:

1. Weather
2. Wine
3. Women
Now what else can I say guys?? :))

If you don’t believe this, go and stay in Dehradun for at least a year…