10 Things The RICH Teach Their Kids About MONEY

Here is the link.

#1 Rich parents teach the importance of money
options!
Freedom
Vacation, where to live
Less financial stress life

#2 The difference between assets and liabilities

Assets                                Liabilities

rent it to someone              live in it

2:40 - 5:10 / 15:13 case study of two people $6,000/ month

Pay his bills   nice stuff                1 year invest $40,000
going out
shopping
buying things
getting a new car

Looking good but going nowhere!
There are rich people who have a nice house and the fancy cars

Asset +500/month

#3 How to manage their money

planning and managing
their household expenses
familiarize their kids on
the reality of having living expenses

#4 Different ways to earn money
Get normal job - difference to make money
Assets - other way money is made

Rich Dad's Cashflow quadrant

#5 Developing productive habits

Building habits

#6 No one owns you anything

Entitlement  vs Earning your success

they have to find their own way

#7 Social and influence skills

#8 Delayed gratification (Patience)

Eventually all hard work will be worth it
short term pleasures

Micro speed and Macro patience
Most people are slow every day but want to succeed next day

#9 There is always more money

There is not enough!  There is always more!

#10 The best way to make money is to help others

#11 They understand they can't know everything