Rich Dad, Poor Dad

“Learn to use your emotions to think, not think with your emotions. When you boys mastered your emotions, first by agreeing to work for free, I knew there was hope. When you again resisted your emotions when I tempted you with more money, you were again learning to think in spite of being emotionally charged. That's the first step.”

`Is working harder at this the best solution to this problem?'

Intelligence solves problems and produces money. Money without financial intelligence is money soon gone.

Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule.

“The rich acquire assets and the poor and middle class acquire liabilities.”

An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.

“An intelligent person hires people who are more intelligent than they are.”

A new car loses nearly 25 percent of the price you pay for it the moment you drive it off the lot.

For adults, keep your expenses low, reduce your liabilities and diligently build a base of solid assets. For young people who have not yet left home, it is important for parents to teach them the difference between an asset and a liability.

starting a company is a solution for them. The odds are against success: Nine out of 10 companies fail in five years. Of those that survive the first five years, nine out of every 10 of those eventually fail, as well. So only if you really have the desire to own your own company do I recommend it. Otherwise, keep your daytime job and mind your own business.

rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.

The real reality is that the rich are not taxed. It's the middle class who pays for the poor, especially the educated upper-income middle class.

Life is much like going to the gym. The most painful part is deciding to go. Once you get past that, it's easy.

McDonald's is excellent at business systems. The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems.

The better you are at communicating, negotiating and handling your fear of rejection, the easier life is.

you must start early and definitely set up a retirement plan, and you should hire a financial planner you trust to guide you before investing in anything.

“Winning means being unafraid to lose.”

“Everyone wants to go to Heaven, but no one wants to die.”

For winners, losing inspires them. For losers, losing defeats them.

“Remember Pearl Harbor” became a rallying cry. It turned one of America's greatest losses into the reason to win. This great defeat gave America strength, and America soon emerged as a world power.