Rich Dad Poor Dad, Robert Kiyosaki

About the Book

Rich_Dad_Poor_Dad

Personal finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences – his two fathers. One father (Robert’s real father) was a highly educated man but fiscally poor. The other father was the father of Robert’s best friend – that Dad was an eighth-grade drop-out who became a self-made multi-millionaire. The lifelong monetary problems experienced by his poor dad pounded home the counterpoint communicated by his rich dad. Taking that message to heart, Kiyosaki was able to retire at 47.

The Author

Robert Toru Kiyosaki (born April 8, 1947) is an American businessman and author. Kiyosaki is the founder of the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos. He is also the creator of the Cashflow board and software games to educate adults and children business and financial concepts.

Kiyosaki is the author of more than 26 books, including the international self-published personal finance Rich Dad Poor Dad series of books which has been translated into 51 languages, available in 109 countries and have combined sales of over 27 million copies sold worldwide.

Summary

  • There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.
  • The poor and middle class work for money. The rich have money work for them.
  • People’s lives are forever controlled by two emotions: fear and greed.
  • So many people say “Oh, I’m not interested in money.” Yet they’ll work at a job for eight hours a day.
  • It’s not how much money you make. It’s how much money you keep.
  • Rich people acquire assets. The poor and middle class acquire liabilities they think are assets.
  • An asset puts money in my pocket. A liability takes money out of my pocket.
  • A person can be highly educated, professionally successful, and financially illiterate.
  • The greatest losses of all are those from missed opportunities.
  • Wealth is a person’s ability to survive so many numbers of days forward – or, if I stopped working today, how long could I survive?
  • The rich focus on their asset columns while everyone else focuses on their income statements.
  • Financial struggle is often the result of people working all their lives for someone else.
  • Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities.
  • My rich dad just played the game smart, and he did it through corporations – the biggest secret of the rich.
  • My rich dad did not see Robin Hood as a hero. He called Robin Hood a crook.
  • If you work for money you give the power to your employer. If money works for you, you keep the power and control it.
  • Often in the real world, it’s not the smart who get ahead, but the bold.
  • The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.
  • Financial intelligence is made up of these four main technical skills: accounting, investing, understanding markets and the law.
  • Great opportunities are not seen with the eyes. They are seen with your mind.
  • “You want to know a little about a lot” was rich dad’s suggestion.
  • Job is an acronym for “Just Over Broke.”
  • The main management skills needed for success are: management of cash flow, management of systems and management of people.
  • The primary reason between a rich person and a poor person is how they manage fear.
  • There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow. The five reasons are: fear, cynicism, laziness, bad habits and arrogance.
  • Failure inspires winners. Failure defeats losers.
  • There is gold everywhere. Most people are not trained to see it.
  • The sophisticated investor’s first question is: “How fast do I get my money back?”
  • The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money…but never learn to have money work for them.

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