Rich Dad Poor Dad is a 1997 book written by Robert Kiyosaki and Sharon Lechter. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ) to improve one's business and financial aptitude.

Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing. You don’t need to earn a high income to be rich. Rich people make money work for them.


5 big ideas in Rich dad and poor dad.

  • The poor and the middle-class work for money. The rich have money work for them.
  • It’s not how much money you make that matters. It’s how much money you keep.
  • Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
  • Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
  • The single most powerful asset we all have is our mind.

LESSONS TO LEARN FROM RICH DAD POOR DAD

  • The Rich Don’t Work for Money
  • Why Teach Financial Literacy?
  • Mind Your Own Business
  • The History of Taxes and The Power of Corporations
  • The Rich Invent Money
  • Work to Learn—Don’t Work for Money

FAMOUS QUOTES FROM RICH DAD POOR DAD

  • There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.
  • Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.
  • 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.
  • Intelligence solves problems and produces money.
  • The number-one expense for most people is taxes.
  • The problem with simply working harder is that each of these three levels takes a greater share of your increased efforts. You need to learn how to have your increased efforts benefit you and your family directly.
  • Financial struggle is often directly the result of people working all their lives for someone else.
  • A new car loses nearly 25 percent of the price you pay for it the moment you drive it off the lot.

My reaction to this book was not of enlightenment, or criticism – but I felt more of a confirmation that I’m not crazy for thinking differently from others. When one is surrounded by people who blindly subscribe to the rat-race, it can make one feel like an outsider. I found his book to be reassuring and encouraging. My only problem now is that I don’t know how to get from point A to point B. However, I highly recommend you to read this book one because it’s life changing and you get to learn so much about earning wealth. You can Also read The Rules of life here.


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