Rich Dad Poor Dad Book Summary [Must Read]
- 1 Rich Dad Poor Dad Book Summary [Must Read]
- 1.1 Behind The Scene [Before We Start]
- 1.2 Advices Of The Rich Dad
- 1.3 Important Lessons From Rich Dad Poor Dad (Must Know This)
- 2 Short summary of the book- Rich Dad and Poor Dad.
- 3 Rich Dad Poor Dad Pdf Download [FREE]
- 4 20 Best Quotes From Rich Dad Poor Dad
Robert Kiyosaki wrote a book in 1997 “Rich Dad Poor Dad.” This book made a splash as soon as it came in the market and became a best selling book. This book has sold over 32 million copies. So in this particular post, we are going to read a short summary of the book “Rich Dad Poor Dad.”
I will also provide you the PDF of Rich Dad Poor Dad, but before you get that pdf let’s read the summary of this book. At the end we will see some most famous quotes from the book “Rich Dad Poor Dad.”
I am very excited. Are you?
Behind The Scene [Before We Start]
Robert Kiyosaki has two fathers one was his real father, Whom he used to call Poor Dad i.e. and he used to consider his friend Mitch’s father . He called him the Rich Dad.
His real father is well literate and he is a professor in a college but in his whole life, there has been a lot of struggle with money that’s the reason why Robert calls him Poor Dad.
On the other hand his friend’s father who is not well literate the but still he is a very successful and rich. He is a business man. That is why Robert calls him Rich Dad.
Robert Kiosk explains in his book Rich Dad Poor Dad that When he was 9 years old, he looked at other rich kids in school.
He also had a desire to become rich. And that’s why he asked his poor dad how does one becomes rich? His poor dad has no answer to this question.
His father advise him to ask the same question from his friend’s Father. Then Robert goes to his rich dad and asks the same question “How one can become rich?”
That’s where an important journey of Robert’s financial education begins.
Advices Of The Rich Dad
Author’s rich dad gives him some important lessons that how one can become and stay rich. All the advices from his rich dad is briefly described in his book.
He tells many things in this book like, how money should be maintained? How to use money and what such mistakes due to which the poor always remain poor.
Apart from this, he tells that if poor people also follow all these things, then they too can become rich quickly. So now let’s talk about those important lessons.
Important Lessons From Rich Dad Poor Dad (Must Know This)
Rich Dad Poor Dad is one of the most popular personal finance books of all time. If you want to become rich quickly, here are some lessons you must know!
#1. The Rich Won’t Work for Money
Generally people work very hard to become rich. Their effort is to find a great job that will keep them getting good salary every month. They are satisfied with that.
But with this, they get caught in such a trap from where they can never get out. And many people become part of the rat race to become rich.
They would have known that the salary would be available at the end of the month: And for this reason, they buy a big house on loan, buy a car, buy expensive things with credit cards: And get trapped in such a trap and get trapped in such a trap.
Remember the things you have taken on loan, you have to pay the loan also. And to pay that loan, you will have to work for many years. Whatever amount will come from your job, the maximum amount will go towards paying your loan.
In the same way, many people’s lives go on doing jobs and paying loans.
Now the question comes that what to do if you do not work for money? Rich people don’t work for money, they do something that makes money work for them.
But the question is, what they do? You will get the answer in the coming few points.
#2. Financial Education is Very Important
Why people need to learn financial education? In the second lesson, Rich Dad teaches that it is very important for people to understand money.
But in schools there is no such thing as financial education. That is why Elon Musk says “You don’t even need a degree to start something” That is why, you’ll find many billionaires who are not well literate but they are rich and successful.
In schools there is a system that you have to study hard and get good marks, then do a good job. But the truth is: No job can ever make you rich.
Suppose you study hard and become a doctor or an engineer. But that too gets trapped in the cycle of 9 to 5 jobs as we talked about in the first point.
To break out of this cycle, Rich Dad spoke about assets and liabilities: Assets are things that put money in your pocket and liabilities are all those things that take out money from your pocket.
For an example, if you have a house and you put it on rent, we call it an assets because that is putting money in your pocket:
On the other hand if you purchase a car on loan we call them liabilities because that car is taking money out of your pocket.
To become rich the most important thing is that you buy assets and reduce liabilities as much as possible.
No one will teach you these things in any school. They teach us hou to get good marks, if you ask them what is the use of these marks, they will tell you, it’s helpful to get a good job.
They will never teach you how you can grow your money and that is why it is very important to learn financial education. If you want to read more then don’t worry I’ll give you the PDF of Rich Dad Poor Dad, at the end of this post. Now, enjoy reading the summary.
#3. Mind Your Own Business
Rich Dad told: A simple job man can do any such work that will increase his income. For this it is not necessary to start from the big level because not everyone has that much money.
You can do any work you like while doing your job. For example, if a teacher is a professor, then it is his profession and not his business. A teacher can do many things to earn more money, like he can start his coaching business. He can write books to help others.
Never think of money, just try to solve problems and money will automatically start coming.
Once upon a time, the founder of “Mc Donald” was giving a lecture in a MBA class. During the speech, Kroc asked the students, “Do you know what business I do?”
The students answered, “You are in the business of Hem Burger.” After hearing this answer, Kroc laughed, he said “I am not in the business of ham burger. I am a real state business man.”
That’s because whenever someone wants to buy Donald’s franchise ,he has to buy that land too. So, it’s a real estate business. Know what, Donald is one of the biggest real estate empire in the whole world.
Rich Dad lets the author understand that how many work for others but don’t do it for themselves. That’s why a person should focus his attention on himself.
It doesn’t mean that you should quit your job. He wants to say that with your job, you should also focus on strengthening the aspect of your assets.
#4. Work to learn not for money
Robert Kiyosaki explains in his book- Once he was interviewed by a female journalist. She told him that her dream was to become a best selling writer. But she failed, although she was a good writer. Robert himself read many of her articles and he liked her writing skills.
So, Robert advised that woman to take sales training courses. Listening to this, the woman got angry because she was highly educated and had a master’s degree in English Literature.
According to her, learning sales was not in her standard. Robert says that the world is full of intelligent people but the point is “To earn money, talent is not enough.”
If you have talent and you want to earn money, until knowing, how you can monetize it, all your skills are in vain.
Like that girl, many people don’t want to learn new things. Remember Learning is Earning.
If the journalist had been more open-minded and invested her time to learn new things, she might have succeeded. That’s why the poor always remain poor.
Rich people work to learn and that learning make them more rich.
Robert Kiyosaki explains that his poor dad he was always worried about his job but his rich dad used to put more emphasis on learning because he believed that to become rich one has to learn many things. That was the biggest difference between the rich and the poor.
#6: Overcoming Obstacles
Robert Kiyosaki explains this in his book: Many people have an understanding of money. But still, there are many barriers in their way, due to which they don’t grow their assets much.
Robert pointed out 5 obstacles:
- Fear- Everyone feels bad about the loss of money. Even the rich have the fear of losing money, but the problem is how to deal with it after the loss. The primary difference between rich and poor people is “How they handle fear.”
It is important how you take your failure, this is the biggest difference between rich and poor. How does rich people cope with their failures.
- Doubt –While investing money, we have doubts in our mind which does not allow us to go forward. We tend to think that what if my business won’t grow? There are high risk of loss, what if I fail? Would I able to compete in the market? Is my product worth? What if my plans fail?
We are filled with doubts which stops us making fast decisions and we can’t even start whatever we think of doing.
At the same time thousands of opportunities pass before taking any action.
- Laziness- Man’s biggest enemy and it never lets man move forward. Robert says, The people who are the most busy are also the most lazy. Those who are working for money all the time in life should understand that too much of anything is wrong.
- Bad Habits- If two people are to be compared, then there is a lot of change in their habits. Robert says that first he gives money to himself and because of this, he feels financially and emotionally strong.
It means, every month when he earns money first he separate his savings and investment. After that, pay your bills.
If you have the desire to become rich, then you will have to inculcate this habit, even if you have less money. First pay yourself and then do other things.
It will give you two benefits, first- your money will increase and second- you will get more opportunities to earn more.
Ego- Rich dad says that some people have more ego and they use it to hide their ignorance. He says whatever knowledge I have I am able to make money from that. I am successful in making money because of that.
I lose my money because of things I don’t know. If you do not have knowledge of something, then keep your ego aside and learn it well first. If you do this, you can avoid a huge loss.
Let us now see the
Short summary of the book- Rich Dad and Poor Dad.
The author had two father a poor father and a rich father (his friend’s father), what he learned from his rich dad in his 30 years of life he mentioned each and every thing in his book Rich Dad Poor Dad.
Lessons from the Rich Dad were-
- Rich people don’t work for money. .
- Financial education is very important.
- Buy assets and reduce liabilities.
- Mind your own business
- Work to learn not to earn
- Overcoming obstacles.
5 Obstacles that Limits you
- Bad Habits
Rich Dad Poor Dad Pdf Download [FREE]
I hope you have read the summary of this fantastic book, (Rich Dad Poor Dad). After reading the summary you want to download the pdf of this book, am I right?
Yes, don’t worry I will provide you the book PDF of Rich Dad Poor Dad for absolutely free. You can easily download the PDF and read the full book for free.
The book is really amazing and your mindset about money is going to change after reading the book. If you want to buy it, this is what you need-
20 Best Quotes From Rich Dad Poor Dad
Are you looking for some quotes form this book? If yes then, here are some beautiful quotes from the book “Rich Dad Poor Dad” I hope you gonna like them.
People who lie to themselves about investing are the same as overweight people who blame their obesity.Robert Kiyosaki
Most people are happy being average. Most are happy being faceless in asea of faces.Robert Kiyosaki
French fries kill more people than guns and sharks, yet nobody’s afraid of French fries.Robert Kiyosaki
The rich are those who play to win. The middle class play not to lose.Robert Kiyosaki
The rich continue to get rich the same way they always have -by understanding how money works and making their money work for them.Robert Kiyosaki
I believes that one key to success is to accept truth, no matter how it’s spoken.Robert Kiyosaki
people say ‘I want to be rich’. The question is, ‘Are you willing to do what it take?’Robert Kiyosaki
Education is what you learn after you leave in school.Robert Kiyosaki
Confidence comes from discipline and training.Robert Kiyosaki
The greatest story of all is Colonel Sanders. He didn’t start until he was sixty-six on a freeway bypass for his chicken shop. Anything is possible!Robert Kiyosaki
Intelligent people should learns from their experiences. With people on the street, the bad experience has beaten themRobert Kiyosaki
History reminds us that dictators and despots arise during times of severe economic crisis.Robert Kiyosaki
When people are lame, they love to blame.Robert Kiyosaki
Few people realize that luck is created.Robert Kiyosaki
The best way to predict the future is to study the past, or prognosticate.Robert Kiyosaki
If you’re going to be a winner in life, you have to constantly go beyond your best.Robert Kiyosaki
Financial freedom is available to those who learn about it and work for it.Robert Kiyosaki
The thing most people don’t pick up when they become an entrepreneur is that it never ends. It’s 24/7.Robert Kiyosaki
The richest people in the world look for and built networks; everyone else loos for work.Robert Kiyosaki
Finding good partners is the key to success in anything :in business, in investing.Robert Kiyosaki
Being politically correct means saying what’s polite rather than what’s accurate. I like to be accurate.Robert Kiyosaki