Rich Dad Poor Dad

             - By Robert T. Kiyosaki

This is my first book on Financial Intelligence. I wish, I would have read this book before purchasing of my Flat.

The author uses very simple words to explain complex financial terms. For example, 
Asset 
- Is which puts money into your pocket and Liability is which takes money out of your pocket.
Wealth 
- Is a person's ability to survive without working, i.e., If I stop working today, how long can I survive?


Cash flow diagram described in this book is a simple and effective way of understanding your financial status.There are many online video presentations of Robert. Google to know his perspective better.


Quotation excerpts from this book are -

• Rich acquire assets and the poor and middle class acquires liabilities, but they think they are assets
• More money seldom solves someone's money problems. Intelligence solves problems
• If you find you have dug yourselves into a hole... stop digging
• Do not say " I can't afford it". Instead say "How can I afford it? ".
• An intelligent person hires people who are more intelligent than they are.
• The greatest losses of all are those from missed opportunities
• Your business revolves around your assets column, as opposed to your income column.
• Keep your daytime job, but start buying real assets, not liabilities or personal effects that have no real value once you get them home.
• An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first
• We all have tremendous potential, and we all are blessed with gifts. Yet, the one thing that holds all of us back is some degree of self-doubt
• Often in the real world, it's not the smart that get ahead but the bold
• Financial intelligence is simply having more options
• If you are a person waiting for the "right" oppurtunities, you might wait longer.It's like waiting for all the traffic lights to go green for five miles before starting the trip.
• If you can grasp the idea that money is not real, you will grow richer faster.
• It is what you know that is your greatest wealth. It is what you do not know that is your greatest risk.
• Work to learn. Do not work for money.
• Workers work hard enough to not be fired and owners pay just enough so that workers won't quit.
• You can't teach an old dog new tricks
• Important law of money : Give and you shall receive
• For winners,losing inspires them. For losers, losing defeats them
• To make progress, you must first go unbalanced
• Cynics criticize and Winners analyse
• Chickens of a feather agree together
• The easy road often becomes hard, and the hard road often becomes easy
• Whenever you feel "short" or in "need" of something, give what you want first and it will come back in buckets
• God does not need to receive, but humans need to give
• All you need to be is generous with what you  have, and the powers will be generous with you
• You need to know what you're looking for and  then go look for it!

Hmm.. this book seems very rich in quotes.The one I like more is in bold.

-Vish

Principle of Reciprocity - Give To Recieve

I have encountered this principle in the book - "Rich Dad Poor Dad" and I completely agree with it after I gave a little thought to it. What it states in simple words is as follows -

Principle of Reciprocity :  Give what you want and what you give, comes back in multiples

For example, give love to be loved, give a smile to get back a smile and give money to get back money.
Help someone in need if you are expecting help. The law or principle may not act back immediately but surely will.I find this true as for every smile i get back smiles by a factor of 10 or more :)
By same analogy, if you want to get rich , think ways to make other rich through you. Money will automatically flows into your life. The scope of application of this principle is unbounded.


-Vish