Presented by: Omar Kamal ,

Zeyad Shady , Maged

Waleed
REBRESENTED TO: DR/ ALIA AHMED

MARKETING RESEARCH
Introduction
I had two fathers, a rich one and a poor one. One was highly educated
and intelligent. He had a Ph.D. and completed four years of
undergraduate work in less than two years. He then went on to Stanford
University, the University of Chicago, and Northwestern University to do
his advanced studies, all on full financial scholarships. The other father
never finished the eighth grade. Both men were successful in their
careers, working hard all their lives. Both earned substantial incomes. Yet
one always struggled financially. The other would become one of the
richest men in Hawaii. One died leaving tens of millions of dollars to his
family, charities, and his church. The other left bills to be paid. Both men
were strong, charismatic, and influential. Both men offered me advice, but
they did not advise the same things. Both men believed strongly in
education but did not recommend the same course of study

As a young boy, having two strong fathers both influencing me was

difficult. I wanted to be a good son and listen, but the two fathers did not
say the same things. The contrast in their points of view, particularly about
money, was so extreme that I grew curious and intrigued. I began to start
thinking for long periods of time about what each was saying.

My two dads had opposing attitudes and that affected the way they
thought. One dad thought that the rich should pay more in taxes to take
care of those less fortunate. The other said, “Taxes punish those who
produce and reward those who don’t produce.” Introduction 4 One dad
recommended, “Study hard so you can find a good company to work for.”
The other recommended, “Study hard so you can find a good company to
buy.” One dad said, “The reason I’m not rich is because I have you kids.”
The other said, “The reason I must be rich is because I have you kids.”
One encouraged talking about money and business at the dinner table,
while the other forbade the subject of money to be discussed over a meal.
One said, “When it comes to money, play it safe. Don’t take risks.” The
other said, “Learn to manage risk.” One believed, “Our home is our largest
investment and our greatest asset.” The other believed, “My house is a
liability, and if your house is your largest investment, you’re in trouble.”
Both dads paid their bills on time, yet one paid his bills first while the other
paid his bills last. One dad believed in a company or the government
taking care of you and your needs. He was always concerned about pay

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raises, retirement plans, medical benefits, sick leave, vacation days, and
other perks. He was impressed with two of his uncles who joined the
military and earned a retirement-and-entitlement package for life after
twenty years of active service. He loved the idea of medical benefits and
PX privileges the military provided its retirees. He also loved the tenure
system available through the university. The idea of job protection for life
and job benefits seemed more important, at times, than the job. He would
often say, “I’ve worked hard for the government, and I’m entitled to these
benefits.” The other believed in total financial self-reliance. He spoke out
against the entitlement mentality and how it created weak and financially
needy people. He was emphatic about being financially competent. One
dad struggled to save a few dollars. The other created investments. One
dad taught me how to write an impressive resumé so I could find a good
job. The other taught me how to write strong business and financial plans
so I could create jobs.

my poor dad always said, “I’ll never be rich.” And that prophecy became
reality. My rich dad, on the other hand, always referred to himself as rich.
He would say things like, “I’m a rich man, and rich people don’t do this.”
Even when he was flat broke after a major financial setback, he continued
to refer to himself as a rich man. He would cover himself by saying,
“There is a difference between being poor and being broke. Broke is
temporary. Poor is eternal.” My poor dad would say, “I’m not interested
in money,” or “Money doesn’t matter.” My rich dad always said, “Money is
power.”

At the age of nine, I decided to listen to and learn from my rich dad about
money. In doing so, I chose not to listen to my poor dad, even though he
was the one with all the college degrees.

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CHAPTER ONE: THE RICH DON'T WORK FOR MONEY

The poor and the middle class work for money. The rich have money work
for them.

Rich Dad taught Kiyosaki unconventional but essential lessons about money that
went against the traditional wisdom imparted by Poor Dad and society at large.
Some of these key lessons include

1. The Difference Between Assets and Liabilities: Rich Dad taught

Kiyosaki the importance of understanding the difference between assets
and liabilities. Assets are things that put money in your pocket, such as
real estate, stocks, or businesses, while liabilities are things that take
money out of your pocket, such as mortgages, car loans, or credit card
debt.

2. The Importance of Financial Education: Rich Dad emphasized the

value of financial education and learning about money, investing, and
entrepreneurship. He believed that true wealth comes from knowledge
and understanding how money works, rather than simply working hard for
a paycheck.

3. The Power of Passive Income: Rich Dad introduced Kiyosaki to the

concept of passive income – income that is generated without active
involvement in work. He encouraged Kiyosaki to focus on building assets
that generate passive income, such as rental properties or investments,
rather than relying solely on earned income from a job.

4. The Mindset of the Rich: Rich Dad instilled in Kiyosaki a mindset

focused on abundance, opportunity, and financial independence. He
encouraged Kiyosaki to think like an entrepreneur and to seek out
opportunities to create wealth, rather than being content with a job and a
paycheck

Money comes and goes, but if you have the education about how money
works, you gain power over it and can begin building wealth.”

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 “People’s lives are forever controlled by two emotions: fear and greed.”

“So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a
job for eight hours a day.”

“The fear of being different prevents most people from seeking new ways to
solve their problems.”

CHAPTER TWO : WHY TEACH FINANCIAL LITERACY?

Kiyosaki argues that while academic intelligence is important, financial

intelligence is equally crucial for achieving financial success. He criticizes the
traditional education system for failing to teach practical money management
skills and focusing too much on academic subjects that may not be directly
applicable to real-life situations.

According to Kiyosaki, financial literacy includes understanding concepts such as

budgeting, saving, investing, debt management, and entrepreneurship. These
are skills that are essential for navigating the complexities of the modern financial
world and building wealth over time.

Kiyosaki encourages readers to take responsibility for their financial education

and to seek out opportunities to learn about money management and investing.
He suggests reading books, attending seminars, and seeking guidance from
mentors as ways to improve financial literacy and develop the skills needed for
financial independence.

“The rich buy assets. The poor only have expenses. The middle-class buy
liabilities they think are assets

The problem with simply working harder is that each of these three levels takes a
greater share of your increased efforts. You need to learn how to have your
increased efforts benefit you and your family directly.”

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“Wealth is a person’s ability to survive so many numbers of days forward—or, if I
stopped working today, how long could I survive?

“The rich focus on their asset columns while everyone else focuses on their
income statements.”

“Financial struggle is often directly the result of people working all their lives for
someone else.”

graphs

CHAPTER THREE : MIND YOUR OWN BUSINESS

Kiyosaki emphasizes the importance of developing entrepreneurial skills and

mindset, regardless of whether one chooses to start their own business or work
for someone else. He believes that thinking like an entrepreneur involves taking
initiative, seeking out opportunities, and being proactive in creating value in the
marketplace.

Rich Dad teaches Kiyosaki and his friend Mike about the importance of
understanding business systems and processes. He emphasizes the value of
learning how to leverage systems and people to create efficiencies and maximize
productivity in business.

So what kind of assets am I suggesting that you or your children acquire? In

my world, real assets fall into the following categories:

• Businesses that do not require my presence I own them, but they are
managed or run by other people. If I have to work there, it’s not a business. It
becomes my job.

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 • Stocks

• Bonds

• Income-generating real estate

• Notes (IOUs)

• Royalties from intellectual property such as music, scripts, and patents

Anything else that has value, produces income or appreciates, and has a
ready market

Start minding your own business. Keep your daytime job, but start buying real
assets, not liabilities.

When Kiyosaki says mind your own business, he means building and keeping
your asset column strong. Once a dollar goes into it, never let it come out.

“The best thing about money is that it works 24 hours a day and can work for
generations.”

“An important distinction is that rich people buy luxuries last, while the poor and
middle class tend to buy luxuries first.”

“A true luxury is a reward for investing in and developing a real asset.”

CHAPTER FOUR : THE HISTORY OF TAXES AND THE

POWER OF CORPORATIONS

Rich Dad teaches Kiyosaki about the importance of understanding the tax code
and using it to his advantage to legally minimize taxes. He explains that the tax
code is designed to benefit business owners and investors who understand how
to take advantage of tax deductions, credits, and loopholes.

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Kiyosaki discusses various strategies used by the rich to reduce their tax liability,
including:

1. Business Ownership: Rich Dad encourages Kiyosaki to start his own

business as a way to take advantage of tax deductions available to
business owners. Expenses related to running a business, such as office
space, equipment, and travel, can often be deducted from taxable income.

2. Investing in Real Estate: Rich Dad advocates for investing in real estate
as a tax-efficient way to build wealth. Rental income from real estate
properties can be offset by depreciation expenses and other deductions,
resulting in reduced taxable income.

3. Asset Protection: Rich Dad advises Kiyosaki to structure his assets in a

way that minimizes tax exposure and protects against liability. This may
involve setting up legal entities such as corporations or trusts to hold
assets and reduce tax liability.

Kiyosaki emphasizes the importance of financial education in understanding the

tax code and using it to your advantage. He encourages readers to seek out tax
professionals and financial advisors who can help them develop tax-efficient
strategies for wealth accumulation.

Kiyosaki’s rich dad did not see Robin Hood as a hero. He called Robin Hood a
crook.

“Each dollar in my asset column was a great employee, working hard to make
more employees and buy the boss a new Porsche.”

Kiyosaki reminds people that financial IQ is made up of knowledge from four

broad areas of expertise:

1. Accounting is financial literacy or the ability to read numbers. This is a vital skill
if you want to build an empire. The more money you are responsible for, the
more accuracy is required, or the house comes tumbling down. This is the left-
brain side, or the details. Financial literacy is the ability to read and understand
financial statements which allows you to identify the strengths and weaknesses
of any business.

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2. Investing is the science of “money making money.” This involves strategies
and formulas which use the creative right-brain side.

3. Understanding markets Understanding markets is the science of supply and

demand. You need to know the technical aspects of the market, which are
emotion-driven, in addition to the fundamental or economic aspects of an
investment. Does an investment make sense or does it not make sense based
on current market conditions?

4. The law A corporation wrapped around the technical skills of accounting,

investing, and markets can contribute to explosive growth. A person who
understands the tax advantages and protections provided by a corporation can
get rich so much

“A corporation earns, spends everything it can, and is taxed on anything that is

left. It’s one of the biggest legal tax loopholes that the rich use.

CHAPTER FIVE : THE RICH INVENT MONEY

Rich Dad teaches Kiyosaki that the rich are not limited by conventional thinking
and are able to create wealth through innovation and creativity. He emphasizes
the importance of thinking outside the box and looking for opportunities where
others see obstacles.

Kiyosaki discusses various ways in which the rich invent money, including:

1. Identifying Needs and Solutions: Rich Dad encourages Kiyosaki to look

for needs in the marketplace and find creative solutions to fulfill those
needs. By identifying problems and offering solutions, individuals can
create value and generate income.
2. Leveraging Skills and Resources: Rich Dad teaches Kiyosaki to
leverage his skills, knowledge, and resources to create wealth. This may
involve developing expertise in a particular area, building relationships
with others, or investing in assets that generate passive income.
3. Taking Calculated Risks: Rich Dad emphasizes the importance of taking
calculated risks in pursuit of wealth creation. While not every venture will

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 be successful, the willingness to take risks and learn from failures is
essential for long-term success.

“The single most powerful asset we all have is our mind. If it is trained well, it
can create enormous wealth.”

“The world is always handing you opportunities of a lifetime, every day of your
life, but all too often, we fail to see them.”

Which one sounds harder to you?

1.Work hard. Pay 50% in taxes. Save what is left. Your savings then earn 5%,
which is also taxed.

OR

2. Take the time to develop your financial intelligence Harness the power of your
brain and the asset column

CHAPTER SIX: WORK TO LEARN— DON'T WORK FOR

MONEY

rich Dad teaches Kiyosaki that the most valuable asset one can possess is not
money but knowledge. He emphasizes the importance of acquiring new skills,
gaining experience, and seeking out opportunities for learning and growth.

Kiyosaki discusses various ways in which individuals can work to learn, rather
than simply working for money:

1. Seeking Mentors and Role Models: Rich Dad encourages Kiyosaki to

seek guidance and mentorship from successful individuals who have
achieved the level of success he aspires to. Mentors can provide valuable
insights, advice, and support on the journey to financial independence.

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 2. Investing in Education: Rich Dad emphasizes the importance of
investing in one's education and personal development. This may involve
attending seminars, workshops, and training programs, as well as reading
books and learning from experts in various fields.
3. Taking Calculated Risks: Rich Dad encourages Kiyosaki to take
calculated risks and pursue opportunities that offer valuable learning
experiences, even if they may not provide immediate financial rewards. He
believes that taking risks and learning from failures are essential for
personal and professional growth.

“You want to know a little about a lot

The reason so many talented people are poor is that they focus on building a
better hamburger and know little to nothing about business systems.”

The main management skills needed for success are:

1. Management of cash flow

2. Management of systems
3. Management of people

The most important specialized skills are sales and marketing.”

CHAPTER SEVEN : OVERCOMING OBSTACLES

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Robert Kiyosaki discusses five common obstacles that can hinder individuals on
their journey to financial independence and success. Here's how he addresses
each of these obstacles:

1. Fear: Kiyosaki acknowledges that fear can hold people back from taking
risks and pursuing opportunities. Whether it's fear of failure, fear of
change, or fear of the unknown, he encourages readers to confront their
fears and take action despite them. By recognizing fear as a natural
emotion and learning to manage it effectively, individuals can overcome
obstacles and achieve their financial goals.
2. Cynicism: Kiyosaki warns against the dangers of cynicism, which can
lead people to doubt themselves and their abilities. He emphasizes the
importance of maintaining a positive attitude and surrounding oneself with
supportive influences. By cultivating optimism and belief in oneself,
individuals can overcome cynicism and pursue their goals with confidence
and determination.
3. Laziness: Kiyosaki cautions against the trap of laziness, which can
prevent people from putting in the effort required to achieve success. He
encourages readers to develop a strong work ethic and to be proactive in
pursuing their goals. By taking initiative and consistently putting in the
work, individuals can overcome laziness and make progress towards
financial independence.
4. Bad Habits: Kiyosaki highlights the detrimental effects of bad habits, such
as procrastination, overspending, and living beyond one's means. He
encourages readers to identify and break free from these habits in order to
achieve financial success. By cultivating discipline and practicing good
financial habits, individuals can overcome obstacles and build a solid
foundation for wealth creation.
5. Arrogance: Kiyosaki warns against the dangers of arrogance, which can
lead people to become complacent and closed-minded. He encourages
readers to remain humble and open to learning from others, regardless of
their level of success. By staying humble and continuously seeking to
improve oneself, individuals can overcome arrogance and continue to
grow and succeed in their financial journey.

For most people, the reason they don’t win financially is that the pain of losing
money is far greater than the joy of being rich.”

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“Failure inspires winners. Failure defeats losers.”

CONCLUSION

Throughout the book, Kiyosaki shares the lessons he learned from Rich Dad
about the importance of financial literacy, asset building, passive income, and
taking calculated risks. He highlights the value of thinking like an investor and
entrepreneur, rather than just an employee, and encourages readers to
challenge conventional wisdom about money and wealth.

Kiyosaki concludes by urging readers to take responsibility for their financial

education and to commit to lifelong learning and personal development. He
emphasizes that financial success is achievable for anyone willing to learn and
take action, regardless of their background or circumstances.

In the final message of "Rich Dad Poor Dad," Kiyosaki encourages readers to
think critically about their beliefs and attitudes toward money and to take
proactive steps to improve their financial literacy and mindset. He believes that
by adopting the principles and strategies outlined in the book, individuals can
achieve financial independence, build wealth, and ultimately live a life of
abundance and prosperity.

The conclusion of "Rich Dad Poor Dad" serves as a call to action for readers to
take control of their financial futures and to pursue their dreams with confidence
and determination. It encapsulates the overarching theme of the book: that
financial education and mindset are the keys to unlocking wealth and success in
today's world.

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