Timeless Money Lessons from Kiyosaki's "Rich Dad, Poor Dad"

The author, Robert Kiyosaki grew up with two fathers - his real dad, who died with the bills to pay and his "rich dad", who became one of the wealthiest men in Hawaii. Both fathers were successful in what they did, however, Kiyosaki has realized that the difference was in the way two thought and acted. The below six lessons, that Kiyosaki has learned from his "rich dad", helped him to build his own wealth:

1. It's not how much money you make, it's how much money you keep. When most of us know how to earn money and work hard, not everyone knows how to manage it. "Money without intelligence is soon to be gone" - states Kiyosaki. The main focus must be on bettering your savings and on making sure that more money is not going out than coming in.

2. The poor work for money, while the rich make money work for them. Working for money is the easiest way which we learn in schools, but making money work for you by establishing your own business, investing and being your own boss requires being comfortable with risk and uncertainty.

3. It's not the smart who gets ahead, it's the bold. In the real world, outside of academics, the grades don't play a vital role. Rather than being smart, focus on being financially intelligent. Learn to manage risk and to be courageous.

4. The most powerful asset is our mind. If it is trained well, it can create an incredible wealth. The rich have creative solutions to any money problem and see a financial opportunity in everything that happens around them.

5. The poor are focused on their salary, when the rich are focused on their net worth. The rich acquire assets like stocks, bonds, properties and others, in order to make money work for them.

6. Avoiding failure is avoiding success. Many people never win because they are afraid to lose. Failure is a part of success, thus, the rich learn from their mistakes. Take failure as a game - you play, you lose and you try again.

"My poor dad used to say - I'd rather be happy than rich. My rich dad said - Why not be both?" - Robert Kiyosaki