I just finished my first re-read of Rich Dad, Poor Dad after I originally purchased the hardcover book. The new edition has updated facts and figures but closely follows the hardcover I originally read.

• Always focus on learning the key management skills: cash flow, systems, and people.
• Build you asset column with true assets. True assets produce income for you.
• A winning portfolio is focused, not balanced.
• Common cash flow assets: real estate (rent, loans, capital gains) and stocks (dividends, capital gains)
• Tax lien certificates are an interesting concept: A 16% interest rate but your money is locked up for 6 to 7 years.
• If you get into real estate investment, get a great property manager. This keeps you free to focus on minding your business, not plunging toilets and mowing lawns.
• The stop order is a key tool to minimize losses when building your stock assets.
• “Busy people are often lazy” – Ain’t this the truth, and I’m a perfect example.
• Sales = Income
• Sales skills improve your communication skills
• Is it possible to “be the bank” by offering a mortgage and using an escrow/servicing company to collect the payments?
• Stop paying yourself last! Convert your earned income into assets that generate passive income or portfolio income.
• Overcome arrogance – what you don’t know will cost you money.
• Use Nevada corporations to reduce tax load
• Is it time to look into forclosure auctions?
• When everyone else is getting out, watch for your opportunity to get in. Example: Buying up real estate cheap when the bubbles burst.
• Be like your heros: Invest like Warren Buffet, build deals like Trump did.
• Locking potential investments up in contracts can help you secure them while you get the money together, but always leave yourself an easy out using contingencies. Example: Contract is contingent on approval of a business partner.
• The lesson of “The Richest Man in Babylon” is important in understanding wealth.