Assets vs. Liabilities
What is something that puts money into your pocket?
What is an asset?
What is the knowledge needed to manage and grow money?
What is financial education?
How does the rich mindset view mistakes?
What is as opportunities to learn from them?
What is the act of using money to generate more money, like buying stocks or real estate?
What is investing?
The wealthy do this by creating opportunities for themselves, not just waiting for them.
What is taking initiative?
What is something that takes money out of your pocket?
What is a liability?
Why does Rich Dad think financial education is more important than traditional schooling?
What is because it teaches you how to make money work for you?
How do the rich and poor mindsets differ?
What is the rich focus on opportunities, while the poor focus on earning a paycheck?
What type of investment does Rich Dad recommend?
What is real estate and businesses that produce income?
The habit the rich focus on to keep improving their knowledge and skills.
What is continuous learning?
According to Rich Dad, why should you focus on acquiring assets?
What is because assets generate income and build wealth?
How does Rich Dad recommend getting financial education?
What is by reading books, learning from mentors, and gaining real-life experiences?
How does Rich Dad view risk?
What is as something to embrace and learn from?
What does the acronym “OPM” stand for?
What is Other People’s Money?
Instead of working harder for money, work ____?
What is working smarter?
What is Poor Dad’s belief about paying off debt?
What is that paying off debt quickly brings financial security?
What does Rich Dad say about the traditional school system?
What is that it doesn’t teach people how to handle or grow money?
How does Poor Dad see money?
What is as something to earn through a steady job?
Why does Rich Dad suggest investing in real estate?
What is because it can generate passive income over time?
This habit is for finding ways to grow money, rather than relying on a salary.
What is looking for investments?
What is the key reason Rich Dad believes assets are better than liabilities?
What is that assets generate passive income, while liabilities drain your finances?
Why do poor financial habits get passed down through generations?
What is because people don't learn proper money management, repeating mistakes over time?
Why is having the right mindset important, according to Rich Dad?
What is because a positive mindset helps you find ways to grow wealth?
What is the key to starting with little money when investing?
What is using OPM to get started?
The wealthy develop this habit, which helps them stay focused on long-term goals despite setbacks.
What is persistence?