Rich Dad Poor Dad Chapter 8

Reasons Why People Don’t Make Money Fear Cynicism Laziness Bad Habits Arrogance

Fear The Fear of losing money isn’t bad. Fearful people should safe money when they are young. Fear of losing money can be dispelled by learning from your loses. All people who have made lots of money have lost lots as well. Failure inspires winners and defeats losers. People waste money on useless things out of fear

Cynicism “Noise” and criticism cloud your judgment. Other peoples negative opinions can make you back out of good deals. Buyer’s Remorse can also make you back out of good deals Cynics think about the means without thinking about the end result or goal. Cynics criticize winners analyze.

Laziness When you don’t have time to manage your wealth Lazy People work to avoid more important things. Cure for laziness is greed. Ask what is in it for me. Greed a little greed is good Greed is better than guilt and regret Laziness says you worked hard today when you did everything except the important things.

Bad Habits People who are good at what they do are good because they have good habits. Arnold Schwarzenegger was strong because he made a habit to work hard Most People pay all their bills then use what is left for themselves. A better habit is to pay your self then your bills.

Arrogance Arrogance leads people to think that what they don’t know isn’t important What you know makes you money what you don’t loses money. “The more you know, the less you don’t know”

Play to Win: Chapter 8 Summary Never say “I can’t afford something”, instead ask, “How can I afford something”. Pay yourself before you pay anyone else. You will always find away to pay the government. Think big, dream big and you’ll lose big. Lose Big and turn that loss into a win.