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Financial intelligence is key to success from "summary" of Rich Dad Poor Dad - What the Rich Teach Their Kids About Money by Robert T. Kiyosaki
Financial intelligence is crucial to achieving success in life. It is not just about how much money you make, but how you manage and invest that money. Without financial intelligence, you may earn a high income but still struggle to build wealth. This is because being intelligent about your finances involves understanding how money works and making informed decisions about how to use it effectively. In the book "Rich Dad Poor Dad," the author emphasizes the importance of financial education and how it can make a significant difference in your financial well-being. He contrasts the perspectives of two father figures - his own biological father (Poor Dad) and the father of his best friend (Rich Dad). While his Poor Dad believed in the traditional mindset of getting a good education, finding a stable job, and working hard for a paycheck, his Rich Dad believed in acquiring financial knowledge, investing wisely, and making money work for you. Rich Dad believed that financial intelligence was the key to building wealth and achieving financial freedom. He taught the author and his friend the importance of understanding concepts like assets, liabilities, income, expenses, and cash flow. By developing their financial intelligence, they were able to make better decisions about how to use their money and create passive income streams that allowed them to achieve financial independence. The author learned that financial intelligence is not something that is taught in schools. It is something that you have to seek out and educate yourself about. This can involve reading books, attending seminars, seeking out mentors, and learning from real-life experiences. By increasing your financial intelligence, you can make smarter decisions about how to manage your money, invest in assets that generate passive income, and ultimately achieve financial success.- Financial intelligence is a critical factor in achieving success in life. By understanding how money works, making informed decisions about how to use it, and investing wisely, you can build wealth and create a secure financial future for yourself and your family. Don't just focus on earning a high income - focus on developing your financial intelligence and using it to your advantage.
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