
Let me guess: “Rich Dad Poor Dad” was the first book on finance you ever read. Okay, maybe I’m just projecting because it was mine. It’s a classic.
I didn’t exactly love to read at the time, but the pocket size and the catchy title won me over. In a little under 250 pages, Robert Kiyosaki told his story as a boy who had two dads – “poor dad” who was his real father, and “rich dad”, a mentor who helped him understand money and business.
He wove this story to expatiate Rich Dad’s nuggets to him and took every opportunity to show the relevance of each piece of Rich Dad’s advice in today’s context. Poor Dad had the spotlight for a while, but only for as long as he illustrated what you should not do if you wanted to build sustainable long-term wealth and bask in financial freedom.
There are a lot of nuggets from Rich Dad that everyone needs, honestly, but they can’t all fit into this post, so here are 6 that really stood out and I’m sure would resonate with you:
1. Make money work for you
The difference between the rich and the poor is that the rich see money as a tool to make more money, unlike the poor who see money as an opportunity to spend even more.
Money is a finite resource, so it should never be idle or you would run out. Deposit it in a high-interest savings plan. Get safe and secure investments that earn returns in your sleep. Put it to work.

2. Your mindset may just need a reset
A simple switch from thinking, “I can’t afford it” to “How can I afford it?” can change a lot for you financially. The latter opens your mind to the possibilities and challenges you to work towards them.
Wealthy people take risks. They’re brave enough to ask questions that challenge their minds. If you sit there saying “I can’t afford it” instead of making sure you can, then maybe you’re not really interested in having financial freedom.
3. Financial literacy is not optional
Whoever came up with the saying that “knowledge is power” must have seen this light. You can’t control what you don’t know. Financial literacy and intelligence would help you maintain your wealth. Make effort to stay abreast of information about money.
Read blogs, consume short-form content on social media, download guides, and subscribe to newsletters that teach you about money. Cowrywise ticks all these boxes, and we’re very intentional about helping you to make sense of money. Don’t be left out.
4. Work to learn, not just to earn
Wait, hear me out. I’m not in any way suggesting that you work for free, or for “exposure”, because these things don’t pay the bills. My point is, value varies in different scenarios.
Feel free to take up an unpaid internship to gain life skills and understudy how that industry works. The insight you may get from there could come in handy for you when you’re building your business. Knowledge sometimes has more potential value than money in the long run. Take such opportunities when they come.
5. Assets and liabilities make the difference
In Rich Dad Poor Dad, Kiyosaki explains that “an asset is something that puts money in your pocket and a liability is something that takes money out of it”. It’s that simple.
As we already discussed earlier, the rich focus on using their money to make more money (acquiring assets) and the poor use their money to incur liabilities. It’s important to note though, that an asset to one, can be a liability to another. There’s no one size fits all.
6. Your company matters
Not every day, “Hey, let’s go shop at that mall that just opened.” Sometimes, “Hey, gentle reminder to top up your savings plan”. Your company matters.
Surround yourself with people who have the right kind of mindset and are constantly looking for ways to solve problems with new ideas. Keep company with people who are headed where you are, so they don’t slow you down.

Phewww, I can keep going, because Rich Dad Poor Dad has more than just 6 gems on financial intelligence and freedom. It explains taxes, savings, mindset and money in a way you probably haven’t seen before. I highly recommend you read this short book, as it would open your mind to a lot of things rich people teach their children that poor people don’t (well, because they can’t).
Have you read Rich Dad Poor Dad? What is one thing that stood out for you? Let’s talk about it in the comments. If you’d be reading it, let me know too.
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Good evening, my question to you please if open an account today in naira his the money will converted to us dollar to running the account
If you are investing in a dollar fund, yes.
Can the funds be traded rather than investing to increase gains?
What if your money is in cash(Dollar)
Please I already have an account, will I have to re-open another account before investing in dollar?
Can I invest in the next eurobond using dollar (cash)? If yes, will my returns be in dollar as well or it will be converted to naira??
Hi Helen, you can invest in Eurobonds at any time. However, we only accept naira deposits at the moment. Also, your returns accrue in dollars.
So which is best to earn the second way or first?
Focusing on returns will be better
Hi, what is the minimum amount you can invest with.
Hi there. You can invest the naira equivalent of $100
Hi Ope, does that mean I’d need two accnts to operate the fund, I.e a naira account to put in the naira funds which is d only 1 u currently accept, then a domicilary account where my returns would accrue in?
I want to invest in your Eurobond.
I have re-installed your new app an still can get the eurobond plan?
How much is the minimum equivalent dollar for a start?
Can i get an overview of all the benefits and rules of this plan?
***and still can’t get the eurobond plan?
Do you allow people from south Africa
Hello, my question is if I invest in the dollar mutual fund how do I get the returns?
Will it be in naira or in dollars and will I have to open another account for the returns to go into
Can’t you go down to 50USD
Hello Nsikak, currently the minimum is $100 but we we are looking at a possible review in the future.
The new minimum is $10
Hello will I have to re-open another account before investing in dollar?
luckysolomon444@gmail.com
I have invested in dollars mutual fund… It means I Will get my return in one year
Hi Jonathan,
How is the return/interest on your investment from November 27,2020 so far??
No you don’t have to, just click on invest in mutual funds, you will see the options there. You can navigate and alot with your account.
If I invest in the euro bond, it is expected that my return accrues in dollar, right? And how do I withdraw the dollar? Do I need to convert it to naira, if yes, how can I convert my dollar to naira on the app. Lastly, how long do I need to leave my investment on cowrywise? Or can I withdraw anytime?
Am interested. Let’s say I put in a $1,000. What the ROI…within 1 year.
Your interest is 6.6% then calculate it for one year, I think so
Hello,
As a Nigerian, can I save my money in dollars even though I don’t want to invest in a dollar mutual fund?
Pretty soon, yes!
If l invest in naira am l going to get it back in dollar
You’d be getting it at the prevalent naira exchange value of the dollar.
Am going to save in naira am going to get it back in dollar
You’d be getting it at the prevalent naira exchange value of the dollar.
Hello ope pls how much is $10 in naira
How long does the investment last.i.e when can I get my returns
I will give BIG CONGRATULATIONS to the entire Management of COWRYWISE for this wonderful opportunity to be a good investor with simple and sound education on various investment opportunities an investment can be done with little and grow within a short period period of time
God bless
Thank you so much ?
Now if I put 100$ in one year what is my return
If my return will be in the current dollar rate at the time, when i am investing and when am getting my returns, what exchange rate do u use? Black market rates or the bank rates – please verify in each case. Thanks.
Hello please if you can create the one we can start with the minimum $1 we’ll be happy ??
I just started investing in eurobond funds on cowrywise. So far so good, it has been a good platform to invest money and earn back. Kudos to the team behind this platform