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Part 3: Ten Steps to Getting Started
Robert T. Kiyosaki ends his book, Rich Dad Poor Dad, with a list of ten steps that he follows and have served him well on his road to financial wealth.
Many of these steps are taught in our course Cultivating Leadership Superpowers and are wisdom for all leaders.
Today we will focus on these ten steps that Kiyosaki says will awaken your inner financial genius and get you started on your own path to wealth.
Kiyosaki’s Ten steps to awaken your financial genius:
- Have a reason greater than reality
- Your passion will carry you through
- Know what you want and what you do not want in your life
- Have a vision and create it
- Choose Daily
- Spending habits reflect who you are and are a daily choice
- Keep your goals in front of you so decision making is easier
- Invest in learning – learn something every day and never stop
- Choose friends carefully
- The power of association is great
- Consciously make effort to learn from them
- You must be willing to go against the crowd sometimes
- Master a formula and then learn a new one
- Learn to learn fast – things change quickly now
- You become what you study
- Never stop learning
- Start with classes on financial planning and buying traditional investments. Sales and marketing classes will always benefit you
- Pay yourself first
- This is the most difficult step
- Lack of personal self-discipline is the #1 factor between the rich and less rich
- People who have low self-esteem and low tolerance for financial pressure can NEVER be rich
- Don’t dip into your savings
- Pay your brokers well
- Knowledgeable and skilled investors are worth their pay
- They save you time and money – they are your eyes and ears to the market
- Know how fast you will get your investment back
- Always ask this upfront
- He demands that something be thrown in for free
- Assets buy luxuries
- Do not buy it if passive income from assets is not paying for it
- Do not buy luxuries on credit or out of savings
- Often when the monthly payment comes, so does resentment or remorse and takes away the joy of the luxury
- Learn to wait and do without – this is difficult when your friends are living their life differently, but it is the wise thing to do
- The need for heroes
- Find heroes that are doing the things you wish to do, and making it look easy
- Read about them, follow them, learn from them, study their formulas
10.Teach and Give and you shall receive
- Be generous – with your time, money, and knowledge
- Give and you shall receive, it is more blessed to give
- His rich dad was extremely generous with all things, his poor dad was generous with all but money because he felt he did not have enough to give…he “would someday”, which never came
This concludes our study of the book Rich Dad Poor Dad. Reread these ten steps often and evaluate your progress with each one. Remember, never stop learning!
-Jan Jones
For more inspiration on financial wisdom, watch this video!