Rich Dad, Poor Dad
Robert Kiyosaki , Sharon Lechter

The sources and cycle of financial failure: fear and greed.
The fear of being without money motivates us to work hard, and then once we get a paycheck, desire or greed starts us thinking about all the wonderful things money can buy. Fear pushes us out the door, and desire calls to us, until we crash upon the rocks. Money makes obvious our inate human flaws.
Balance sheet: asset and liability columns. Income statement: income and expense columns
Asset - something that puts money in your pocket
Liability - something that takes money out of your pocket (your home, a car, a boat)
Owning a house that is too expensive, vs, starting investments early
The rich buy assets.
The poor only have expenses.
The middle class buy liabilities that they think are assets.
The rich focus on their asset column.
Everyone else focuses on their income column.
The rich don't work for money (income), money works for them (assets).
The rich buy luxuries last.
Everyone else buys luxuries first, because they want to look rich
  1. Buy assets
  2. Wealth - when the cash flow from your asset column equals or exceeds your expense column
  3. Mind your own business [Your profession provides a paycheck, your business builds your assets. Ray Kroc - his profession is sales, his business is real estate (location, location, location).]