Rich Dad Poor Dad PDF Summary

Rich Dad Poor Dad Summary - Robert Kiyosaki | #1 FREE Summary, Review, Quotes 16/02/22 13.

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Rich Dad Poor Dad Summary –

Robert Kiyosaki
19 MINUTE READ
Rich Dad Poor Dad (1997)

by Robert Kiyosaki
Rich Dad Poor Dad is one of the few must-read handbooks for anyone
who's serious about earning their financial freedom - by businessman,
investor and best-selling author, Robert Kiyosaki. (195 pages)
Paperback | Ebook | Audiobook
Note: This Rich Dad Poor Dad summary is part of an ongoing project to
summarise the Best Personal Finance Books and Best Self Help Books of
all time.
Contents
1. Rich Dad Poor Dad Review

2. Rich Dad Poor Dad Summary
3. The 3 Steps to Financial Freedom
4. Step 1: Right Mindset
5. Step 2: Right Skills
6. Step 3: Right Motive
7. Rich Dad Poor Dad Contents
8. Best Rich Dad Poor Dad Quotes
9. Rich Dad Poor Dad PDF Summary
10. Read More: 5 Books Like Rich Dad Poor Dad
11. Wish There Was a Faster/Easier Way?
Rich Dad Poor Dad Review

Robert Kiyosaki’s Rich Dad Poor Dad is exactly the kind of personal
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Rich Dad Poor Dad Summary - Robert Kiyosaki | #1 FREE Summary, Review, Quotes 16/02/22 13.12
finance advice you wish you’d been given when you were just starting out
in the world.
It’s simple. It’s practical. It’s life-changing. And despite its emphasis on
the United States tax system, it’s widely and enduringly relevant – no
matter where you’re starting from, who you are or where in the world you
may be.
My verdict? If you’re looking for a primer to set you up for financial

success, Rich Dad Poor Dad is a solid place to start. (Also, Kiyosaki’s free
online game, CASHFLOW is an amazing companion to the book).
Add it to your reading list. Grab a copy. Make sure you read it this year.
And in the meantime (or if you’re just here for a recap), make the most of
my free Rich Dad Poor Dad summary below…
Rich Dad Poor Dad Summary

How long could you live for if you stopped working right now?
A year perhaps? A month? A day?
This question is at the heart of Kiyosaki’s Rich Dad Poor Dad.
His answer? Don’t settle for less than forever…
The 3 Steps to Financial Freedom
It starts with a simple idea:
Wealth is NOT net-worth: your house, your car, your personal

effects.
Wealth is financial freedom: how long you could live if you stopped
working today.
And this simple idea has a simple solution…
To be financially free, your passive income must exceed your

expenses.
And for your passive income to exceed your expenses you must:
1. Buy things that put money into your pocket (assets); and
2. Reduce things that take it out again (liabilities).
But what are these things? How do we find them?
And, if it’s so easy, what holds us back?
The secret, says Kiyosaki, lies in fixing three things:
1. ;
2. ; and
3. .
True, most of us start from behind. In fact, most of us start with nothing.
And few of us get even a basic financial education.
But the good news is that everything is in your power to change.
Wealth building isn’t rocket science. Anyone can learn it.
So, what are we waiting for? Let’s dive in…
Step 1: Right Mindset
You’re in an accident. You wake up disoriented, tired, bleeding. Your car

is upside down. You’ve landed on a railway and a freight train is closing in
fast.
Do you waste time on thinking how unfair the situation is? Do you wait
for the train to stop? Do you wait for someone else to save you? Or do you
struggle with every ounce of mangled muscle and spirit to break free?
The answer is obvious. And yet we so frequently fail this test in life. “Our
lives are a reflection of our habits“, says Kiyosaki. And he’s right.
Don’t settle for entitlement, fear, arrogance, cynicism, selfishness or

laziness:
Be bold: Poor people are defeated by failure. Rich people are inspired
by it.
Be humble: Poor people think they know everything. Rich people
understand “you cannot learn what you think you already know”;
Be positive: Poor people say “I can’t do it”. Rich people ask “How
can I do it?”;
Be charitable: Poor people say “let me receive and I shall give”. Rich
people know “when it comes to money, love, happiness, sales and
contacts, all one needs to remember is to give first.”;
Be industrious: Poor people say “I’m too busy to worry about
money”. Rich people know “there is no such thing as lack of time,
only lack of priorities.”
And take action: Poor people say “The rest of the world should
change”. Rich people know “The only person I can change is myself“.
Mindset is a collection of habits. Habits we can change.
So next time you find yourself on life’s train tracks just remember:
Broke is a state of bank balance. But poor? Poor is a state of mind.
Step 2: Right Skills
If you can learn to drive a car, you can learn to manage money.
Sure, there’s lots to take in. True, you’ll make mistakes, even as an expert.
Yep, some trips may be risky. And no, you can’t control everything all the
time.
But it’s not mysterious and it’s not impossible. You don’t need to be
perfect right away. And if you learn the rules, practise enough and keep a
realistic eye on your abilities, nobody needs to get hurt.
You can manage the risk. And the risk is worth the reward.
So what are the basic skills of managing money? Here’s the

breakdown:
General skills:
Learning: Find new formulas. Learn them fast;

Productivity: Don’t just do the thing right. Do the right thing; and
Self-knowledge: Know your weaknesses. Master your emotions.
Financial skills:
Accounting: Conquer cash, assets and liabilities;

Investing: Learn what to buy and what to sell;
Markets: Sense when to buy and when to sell; and
Law: Know how to buy and how to sell.
Business skills:
Sales: Negotiate like a ninja. Become immune to rejection;

Deal-making: Don’t just find opportunities. Create them; and
Management: Empower yourself with good systems and people.
Excited? Overwhelmed? However you feel, don’t panic.
You’ll be surprised how much you know already and “the man who moves
a mountain,” Confucius reminds us, “begins by carrying away small
stones.”
GENERAL SKILLS
LEARNING:
“The single most powerful asset we all have is our mind,” says Kiyosaki,
“[and] education is more valuable than money, in the long run.”
Why? “I continue to learn and develop because I know there are changes
coming,” Kiyosaki explains, “[and] I’d rather welcome change than cling to
the past.”
To outrun change we must outlearn it. And to outlearn change we

must:
Commit to life-long learning: “Once you stop learning, you start

dying.” and
Stay humble: “You cannot learn what you think you already know.”
Kiyosaki’s advice on learning deep vs. broad is clear: “Know a little

about a lot. The more specialised you become, the more you are trapped
and dependent on that speciality.”
But how? When you have time, read this article on how to learn any skill.
For now, pick one or two options from the list below and take action:
Surround yourself with good people – Andrew Carnegie was one of

the greatest businessmen of the 20th Century. Do you know what he
wrote on his tombstone? “Here lies a man who knew how to enlist in
his service better men than himself”. Learn from Carnegie. Shop hard
for experts, advisors, mentors, teachers, friends, or even a best
friend’s dad to inspire and inform you.
Read – The next best thing to gathering good people around you is to
gather good books. Start with Kiyosaki. Then try Warren Buffet,
Charlie Munger, Seth Klarman, Benjamin Graham, Joel Greenblatt,
John Bogle, or Peter Lynch. Heck, why not even give Donald Trump a
go? Even if you disagree, you’ll still learn a new way of seeing the
world. “Find heroes who make it look easy”, says Kiyosaki, then buy a
window into their minds.
Play games – Games are valuable tools because they speed learning
with instant feedback. Like what you read here? Try Kiyosaki’s
CASHFLOW; it’s free, online and excellent. Investing in stocks? Try
The Stock Market Game or any of the other free simulations and
games you’ll find on Google.
Attend classes and seminars – Some of the best investments I’ve
made have been in online courses and seminars. Kiyosaki tries to
attend at least two multi-day seminars per year. Short on time or
cash? Learn for free, from the best, anywhere, any-time with Massive
Open Online Courses (MOOCs) from the likes of Coursera, Udacity or
Khan Academy. Love Wikipedia? Try Investopedia or BetterExplained.
Find a job that will teach you – “Seek work for what you will learn,
more than what you will earn”, advises Kiyosaki. It’s good advice.
Shocking at sales? Take a second job in a Multi-Level Marketing
company. Atrocious at accounting? Pick up part-time work as a
bookkeeper. Lacking in leadership? Find a local club or organisation
where you can take on a leadership role.
Teach – Teaching forces you to tear a subject down, get to know
every brick and then show someone else how to put them back
together again. “The more I teach those who want to learn, the more
I learn,” explains Kiyosaki.
Keep learning, keep moving, keep hustling.
“Master a formula. Then learn a new one.”
“Invest first in education [because] the only real asset you have is your
mind.”
PRODUCTIVITY:
Personal productivity is a combination of two things:
1. Efficiency – doing things right; and

2. Effectiveness – doing the right thing.
Rich Dad Poor Dad is not a book on personal productivity.
But Kiyosaki does touch on its importance.
“There is no such thing as lack of time, only lack of priorities.” – says Tim
Ferriss.
Kiyosaki agrees: beware of “the most common form of laziness: laziness

by staying busy.” Don’t be the financial equivalent of the person who
never has time to look after their health. Don’t bury your head in your job
and pretend you’re doing the best you can.
If financial freedom is something you want: make time for it.
SELF-KNOWLEDGE:
“People’s lives are forever controlled by two emotions: fear and greed”,
says Kiyosaki. But the trick, he explains, is not to fight them. Instead, it’s to
“learn to use your emotions to think, not think with your emotions.”
First, start by being “truthful about your emotions.”
Next, learn to “be an observer, not a reactor.”
Finally, accept that “your emotions are your emotions but you have got to
learn to do your own thinking.”
Good advice. Because “when it comes to money, high emotions tend to

lower financial intelligence” and “money has a way of making every
decision emotional.”
How? Kiyosaki doesn’t layer on the detail. But here are a few places to
start.
FINANCIAL SKILLS
Accounting. Investing. Markets. Law. Gulp.
I know what you’re thinking – but the hard part is actually over.
Because, next to life-habits, financial skills are child’s play. In fact, I bet
you’ll be surprised at how much you already know…
ACCOUNTING:
Like cooking, accounting is easier if we prepare the ingredients in

advance.
Here’s our list of ingredients:
Your salary is earned income (you working for money);

An asset reliably puts cash into your pocket (money working for
you);
Cash created by assets is passive income;
A liability reliably takes cash out of your pocket (i.e., debt and taxes);
and
Cash spent on anything (including liabilities) is an expense.
You are financially free when passive income exceeds expenses (at this
point you no longer have to work, ever again).
And the recipe for financial freedom is simple:
1. Buy assets to increase passive income; and

2. Reduce liabilities to minimise expenses.
The final step? Make converting your earned income into assets your
top priority.
Or in other words, always pay yourself first.
Defer bills and expenses to the last possible moment. Let the pressure
inspire your financial creativity.
But always pay yourself first.
Not sure where to start? One good approach is to automatically debit

and invest a fixed sum from your account at the start of each month.
Running short 30 days later? Instead of “I can’t pay”, ask “How can I
pay?”.
Financial intelligence is half method, half creativity.
Accounting basics all done. It’s really that simple.
INVESTING:
But if it’s so simple, where do we go wrong? The problem, Kiyosaki

says, is that we often buy things we think are assets that are actually
liabilities.
Take your car, your television, or your other personal effects. How about
your home? Do they regularly take cash out or put cash into your pocket?
That’s right. They are all liabilities.
Remember our simple idea? Wealth is not net worth.
Sure, you might eventually make a profit on your home, but in Kiyosaki’s
world – cash flow is king. If it doesn’t generate cash – it’s not a real asset.
So what is a real asset?
A real asset is anything that reliably puts cash into your pocket. Real
assets are:
Stocks, Bonds and Notes (IOUs);

Income-generating real estate;
Royalties from intellectual property like music, scripts and patents;
Businesses that do not need your presence (“If I have to work there,
it’s not a business. It becomes my job.”); or
Anything with a ready market that produces income or appreciates in
value.
To illustrate, Kiyosaki gives concrete examples from his own preferred

asset-classes: real-estate and small-cap stocks.
His point is not that everyone should follow the same strategy, it’s to
“inspire people to learn more” and “show that it’s not rocket science”.
In fact, Kiyosaki limits his investment advice to six general points:
Buy what you love – “I collect real estate simply because I love
buildings and land,” says Kiyosaki. But if you love music – buy
royalties. If you love businesses – start with stocks. Buy what you
love because it will excite you and inspire you. But most of all
because “If you don’t love it, you won’t take care of it.”
Learn what you buy – Risk is relative: “What is risky for one person
is less risky to someone else,” writes Kiyosaki, “It is not gambling if
you know what you’re doing. It is gambling if you’re just throwing
money into a deal and praying.” If you drive a sports car on the
freeway after one driving lesson, the risks are unacceptably high.
How do you reduce them? With learning, practice, experience and
constant humility.
Play with money you can afford to lose – When it comes to
investing, you won’t win every time or even most of the time: “On an
average 10 investments, I hit home runs on two or three, five or six
do nothing and I lose on two or three.” explains Kiyosaki. Keep those

odds in mind. If your home runs are the last of ten (or a hundred)
investments you make, don’t lose your coat before you get there.
Concentrate – “If you have little money and you want to be rich, you
must first be focused, not balanced.” explains Kiyosaki. If you hate
losing, play it safe. If you’re over 25 and terrified of risk, play it safe.
But “if you have any desire to be rich… do not do what poor and
middle-class people do: put their few eggs in many baskets. Put a lot
of your eggs in a few baskets and FOCUS: Follow One Course Until
Successful.”
Focus on returns – The reason your home is a poor investment is
simple – even if its value increases, you probably won’t ever feel that
cash in your pocket. That’s a lot of missed investment and learning
opportunities. Remember, cash is king and “the sophisticated
investor’s first question is: ‘How fast do I get my money back?'”.
(N.b., Return on Investment (ROI) is an accounting term worth
looking up)
Get something for nothing – “On every one of my investments”,
explains Kiyosaki, “there must be an upside, something for free – like
a condominium, a mini-storage, a piece of free land, a house, stock
shares or an office building. And there must be limited risk, or a low-
risk idea”. Ray Kroc’s didn’t sell hamburger franchises, he bought
real-estate. Go beyond returns and find the extra upside. “That”,
says Kiyosaki, “is financial intelligence.”
One more thing. The best investment opportunities are often available
first or exclusively to sophisticated investors. In other words, to get the
best pieces of meat, you need to fight your way to the top of the food
chain.
That’s why “I constantly encourage people to invest more in their financial

education than in stocks, real estate or other markets.”
Knowledge won’t just make you a better player. It changes the game
entirely.
So, find your niche. Learn it. Master it. Stay humble. Keep playing.
Get smart → Grow rich.
MARKETS:
Warren Buffet describes Benjamin Graham‘s Intelligent Investor as “by far

the best book on investing ever written”.
The best part of the book? Graham’s allegory of Mr. Market – a simple
story that explains everything Kiyosaki has to say on the market and more.
Imagine you pay $1,000 to part-invest in a business with a manic-

depressive called Mr. Market. Now imagine that every day Mr. Market calls
you and offers to either sell you his share in the business or to buy you out
but Mr. Market’s prices are constantly changing and often ludicrous;
sometimes they’re sky-high, sometimes they’re rock-bottom.
Do you think that Mr. Market’s daily moods have any impact on the
intrinsic value of the business?
Of course not. And the same goes for markets all over the world.
Buffet himself provides a neat moral to the story: “Be fearful when
others are greedy and greedy only when others are fearful.”
That’s easier said than done. The pull of the crowd is strong. But it’s
also the most valuable advice on understanding markets that you will ever
hear.
For more on Mr. Market, read The Intelligent Investor.
Curious “why” markets can be so irrational? You’ll love Daniel
Kahneman’s Thinking Fast and Slow or Nicholas Taleb’s Antifragile.
LAW:
There are two ways to greatly reduce your expenses:
1. Buy less stuff (an article for another time); and

2. Get to know the law.
Why is the law so important? Because aside from interest and personal
expenses, your biggest expense by far is tax.
And when it comes to tax, the law is your only defence.
At a minimum, you must find and use any tax shields your
government makes available to you: 401(k)s in the U.S.; pension
schemes and ISAs in the U.K.; whatever they are, wherever you are. If
you’re not using them you’re losing them.
Now for the good part…
The power of corporations:
“A corporation wrapped around the technical skills of accounting,

investing and markets can contribute to explosive growth.”, says Kiyosaki.
The simple reason? Individuals get taxed before other expenses.

Corporations get taxed after them.
Let’s use an easy example to illustrate:
Assume my income is $1,000, my expenses are $500 and the tax rate for
both individuals and companies is 20%.
As an individual: My residual income is my starting income [$1,000]

less my tax [$1,000 x 20% = $200] less my expenses [$500]. So, $1,000
– $200 – $500 = $300.
In a corporation: My residual income is my starting income [$1,000]

less my expenses [$500], less my tax [($1,000 – $500) x 20% = $100].
So, $1,000 – $500 – $100 = $400.
In other words, I keep 33% more income as a corporation than an

individual.
The real picture, of course, is more complex; but hopefully, you should feel
motivated enough to go and fill in the blanks.
“A person who understand the tax advantages and protections provided

by a corporation”, explains Kiyosaki, “can get rich so much faster than
someone who is an employee or a small-business sole proprietor.”
“It’s like the difference between someone walking and someone

flying. [It’s] profound when it comes to long-term wealth.”
BUSINESS SKILLS
Sales, deal-making and management are among the most rewarding and
exciting skills you will ever add to life’s toolbox.
And the good news? They are nowhere near as hard as you think.
Let’s begin. Starting with…
SALES:
Yes, selling is scary. Yes, it’s demoralising.
And yes, that is exactly why you should do it.
“The better you are at communicating, negotiating and handling your fear
of rejection,” explains Kiyosaki, “the easier life is.”
I was terrified of selling. So I spent the first two years of my career cold-
calling executives to sell complex financial products to large businesses.
Do I regret it? I can’t point to a single other professional experience that

had so great a positive impact on my life and work.
My favourite books on sales are Brian Tracy’s Psychology of Selling,

Roger Fisher’s Getting to Yes and Robert Cialdini’s Influence.
Kiyosaki’s advice? Spend at least a couple of years working in sales.

Ideally as a network marketer in a multi-level marketing company. Look
carefully for one with a good sales training program: “It’s not what you
earn, it’s what you learn.”
DEAL-MAKING:
“There are two kinds of investors”, writes Kiyosaki:
1. “The type who buys packaged investments”; and

2. “The type who creates investments.”
“It is important to learn how to put the pieces together because that is
where the huge wins reside.”
So how do we access those huge wins?
To become the second type of investor, you must learn to:
1. Find opportunities;
2. Raise money; and
3. Organise smart people.
Sound like hard work? It is.
“There is a lot to learn,” Kiyosaki reminds us, “but the rewards can be
astronomical.”
Let’s look at each sub-skill in turn…
Find opportunities:
The first step to finding opportunities is to look for them. And looking
gets easier if you learn and surround yourself with smart people.
But even the best ideas are cheap; “Action always beats inaction,” and
rich people don’t just find opportunities, they make them:
“Shop for bargains in all markets.” Stay open-minded. And

remember to “be fearful when others are greedy and greedy only
when others are fearful.”
“Look for someone who wants to buy first, then look for
someone who wants to sell.” Investors call this arbitrage. Use your
learning to close gaps between buyers and sellers. There’s no better
way to make good, quick, risk-free money.
“Make lots of offers” In fact, always make offers, even if they’re
stupidly low. And make them with escape clauses – “subject-to”
contingencies, even if only subject to the agreement of an imaginary
business partner. You’ll be surprised how often even an insultingly
low offer might be accepted.
“Think big.” Big investments come with big opportunities (volume
discounts, less competition, more upside). Look for them. If you can’t
fit one in your mouth, gather some co-investors to share the load.
Remember, never say “I can’t afford it”, always ask “How can I afford
it?”
“There is gold everywhere.” Kiyosaki reminds us time and again, it’s just
“most people are not trained to see it.”
Raise money:
“You need to know how to raise capital,” advises Kiyosaki, “and there are
many ways that don’t require a bank.”
Though light on details, Kiyosaki’s examples often include some form of

peer-to-peer lending or other bank free financing options.
If you want to find answers – go and look for them.
Organise smart people:
Remember Andrew Carnegie? “The real skill is to manage and reward

the people who are smarter than you in some technical area,” confirms
Kiyosaki.
Finding good people is one of life’s toughest challenges.
The secret? To find people who’ll shop hard for you, you must shop hard
for them.
What should you look for? “Three qualities: integrity, intelligence, and
energy,” explains Warren Buffet, “And if you don’t have the first, the other
two will kill you.”
Kiyosaki has an extra test: “When I interview any paid professional, I first
find out how much property or stocks they personally own and what
percentage they pay in taxes… I used to have an accountant [who] had no
real estate. I switched because we did not love the same business.”
And when you find good people? “Pay [them] well… be fair, and most of
them will be fair to you. If all you can think about is cutting their
commissions, why should they want to help you? It’s just simple logic.”
One final tip from Nike founder, Phil Knight: “Don’t tell people how to
do things, tell them what to do and let them surprise you with their
results.” If you’ve truly surrounded yourself with people more intelligent
than yourself, the surprise will nearly always be pleasant.
Learn to find, lead and organise good people.
This one tip alone won’t just make you rich. It will totally change your life.
MANAGEMENT:
“If most of you can cook a better hamburger, how come McDonalds
makes more money than you?” asks Kiyosaki.
“The answer”, he explains, “is obvious: McDonalds is excellent at

business systems. The reason so many talented people are poor is
because they focus on building a better hamburger and know little to
nothing about business systems.”
So how do we get better at managing systems? Kiyosaki restates the

importance of “work to learn” over “work to earn”.
Jump at chances to work in different parts of your organisation, even if it

means deferring a promotion. The long-term benefit of understanding the
many working parts of a business will far exceed any short-term loss of
earnings.
My own advice? Pick up a copy of David Allen’s Getting Things Done and
Ferriss’s The Four Hour Work Week. You’ll find no better introductions to
personal and small business productivity.
Step 3: Right Motive
When it comes to financial freedom; two questions shout loudest for

our attention:
What do I need to do? and

How can I do it?
Rich Dad Poor Dad packs a huge amount into its 178 pages. And wherever
the “how” feels light, Kiyosaki never fails to point out “where” we can
search for more answers.
But there’s one question we often forget to ask.
The most important question of all: “Why?”
Fear and greed enslave us all. They keep poor people poor through
overspending and debt. They keep rich people miserable through 80+
hour weeks long after they’ve become financially free.
Sure, a little greed can be a useful spark in our quest for financial freedom.
Vital even.
But what use is financial freedom if it costs you your mind, body and
all the things that you love?
So, get to work. Read Rich Dad Poor Dad. Take a free course in investing.
Find good people. Ask great questions. Resolve to pay yourself first.
But every so often, don’t forget to ask yourself “Why am I doing all
this in the first place?”
“If I never had to work another day in my life, what would I actually do
then?”
Perhaps your dream is to travel. Perhaps it’s to spend more time with your
children. Perhaps it’s to go out in the world and make a difference.
It doesn’t really matter what you choose.
Just remember: freedom without happiness isn’t really freedom at

all.
And the most valuable thing that money can buy you is this:
To be happy, to be free and “to be you, full-time.” — Phil Knight, founder

of Nike.
Rich Dad Poor Dad Contents

Rich Dad Poor Dad has 9 main chapters…
Introduction: Rich Dad Poor Dad
1. Lesson 1: The Rich Don’t Work for Money

2. Lesson 2: Why Teach Financial Literacy?
3. Lesson 3: Mind Your Own Business
4. Lesson 4: The History of Taxes and the Power of Corporations
5. Lesson 5: The Rich Invent Money
6. Lesson 6: Work to Learn—Don’t Work for Money
7. Overcoming Obstacles
8. Getting Started
9. Still Want More? Here Are Some To Do’s
Final Thoughts
Best Rich Dad Poor Dad Quotes

These Rich Dad Poor Dad quotes come from The Art of Living's ever-
growing central library of thoughts, anecdotes, notes, and inspirational
quotes.
"One of the reasons the rich get richer, the poor get poorer, and the
middle-class struggles in debt is that the subject of money is taught
at home, not in school."
- Robert Kiyosaki, Rich Dad Poor Dad
"Money is one form of power. But what is more powerful is financial

education. Money comes and goes, but if you have the education
about how money works, you gain power over it and can begin
building wealth."
"The poor and the middle-class work for money. The rich have
money work for them."
"Rich people acquire assets. The poor and middle class acquire
liabilities that they think are assets."
"Intelligence solves problems and produces money. Money without

financial intelligence is money soon gone."
"An asset puts money in my pocket. A liability takes money out of my

pocket."
"The fear of being different prevents most people from seeking new
ways to solve their problems."
"An intelligent person hires people who are more intelligent than he
is."
"Often I ask people, “What is your business?” And they will say, “Oh,
I’m a banker.” Then I ask them if they own the bank. And they usually
respond, “No, I work there.” In that instance, they have confused

their profession with their business… If I have to work there, it’s not
a business. It becomes my job."
"One of the main reasons net worth is not accurate is simply

because, the moment you begin selling your assets, you are taxed
for any gains."
"Knowledge is power. And with money comes great power that

requires the right knowledge to keep it and make it multiply."
"If you work for money, you give the power to you 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."
"Games reflect behavior. They are instant feedback systems."
"The single most powerful asset we all have is our mind. If it is

trained well, it can create enormous wealth."
"I know why I continue to learn and develop. I do it because I know

there are changes coming. I’d rather welcome change than cling to
the past."
"What is risky for one person is less risky to someone else… It is not
gambling if you know what you’re doing. It is gambling if you’re just
throwing money into a deal and praying."
"Sometimes you win and sometimes you learn… We learn by making

mistakes. We learn to walk by falling down. If we never fell down, we
would never walk."
"I recommend to young people to seek work for what they will learn,
more than what they will earn."
"It’s not having fear that is the problem. It’s how you handle fear. It’s
how you handle losing. It’s how you handle failure that makes the
difference in one’s life. The primary difference between a rich
person and a poor person is how they manage that fear."
"Failure inspires winners. And failure defeats losers. It is the biggest

secret of winners. It’s the secret that losers do not know. The
greatest secret of winners is that failure inspires winning; thus,
they’re not afraid of losing."
"Whenever you find yourself avoiding something you know you

should be doing, then the only thing to ask yourself is, “What’s in it
for me?” Be a little greedy. It’s the best cure for laziness."
"Many people use arrogance to try to hide their own ignorance."
"A reason or a purpose is a combination of ‘wants’ and ‘don’t wants."
"If you watch business channels on TV, they often have a panel of so-
called experts. One expert will say the market is going to crash, and
the other will say it’s going to boom. If you’re smart, you listen to
both."
"The sophisticated investor’s first question is: ‘How fast do I get my

money back?'"
"Whenever you feel short or in need of something, give what you

want first and it will come back in buckets."
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Read More: 5 Books Like Rich Dad Poor Dad

Enjoyed this Rich Dad Poor Dad summary? You might enjoy the rest of
the books on these lists of the Best Personal Finance Books and Best Self
Help Books of all time.
And in the meantime...
Here are 5 top books like Rich Dad Poor Dad...
1. The Richest Man in Babylon - George S. Clason (FREE Summary)
The Richest Man in Babylon is THE classic parable on how to acquire

money, how to not lose money and how to make money multiply - by serial
entrepreneur and author, George S. Clason.
Published 1926 // 194 pages // Rated 4.3 over 146,000 reviews on

Goodreads
2. Financial Peace Revisited - Dave Ramsey (FREE Summary)
Financial Peace Revisited is an approachable, practical guide to getting

out of debt and unlocking your financial freedom no matter who you are or
where you're starting from - by personal finance guru, radio host and
businessman, Dave Ramsey.

Goodreads
3. Rich Dad's Cashflow Quadrant - Robert Kiyosaki (FREE Summary)
Rich Dad's Guide to Financial Freedom
Rich Dad's Cashflow Quadrant is the practical sequel to Rich Dad Poor
Dad that'll show you EXACTLY how to take control of your cashflow and
build massive wealth - by businessman, investor and best-selling author,
Robert Kiyosaki.

Goodreads
4. The Millionaire Next Door - Thomas J. Stanley (FREE Summary)
The Surprising Secrets of America's Wealthy
The Millionaire Next Door is a fascinating study of the work and personal
habits of America's surprisingly abundant blue-collar millionaires and
PAW's (prodigious accumulator's of wealth) - by marketing professor,
author and business theorist, Thomas J. Stanley.

Goodreads
5. The Total Money Makeover - Dave Ramsey (FREE Summary)
A Proven Plan for Financial Fitness
The Total Money Makeover is the über-practical, 7-step sequal to

Financial Peace Revisited that maps out the EXACT sequence of baby
steps you need to break free of debt and earn your way to freedom - by
personal finance guru, radio host and businessman, Dave Ramsey.

Goodreads
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Rich Dad Poor Dad Summary - Robert Kiyosaki | #1 FREE Summary, Review, Quotes 16/02/22 13.

Rich Dad Poor Dad Summary –

Rich Dad Poor Dad (1997)

1. Rich Dad Poor Dad Review

Rich Dad Poor Dad Review

My verdict? If you’re looking for a primer to set you up for financial

Rich Dad Poor Dad Summary

A year perhaps? A month? A day?

This question is at the heart of Kiyosaki’s Rich Dad Poor Dad.

His answer? Don’t settle for less than forever…

The 3 Steps to Financial Freedom

It starts with a simple idea:

Wealth is NOT net-worth: your house, your car, your personal

And this simple idea has a simple solution…

To be financially free, your passive income must exceed your

But what are these things? How do we find them?

And, if it’s so easy, what holds us back?

The secret, says Kiyosaki, lies in fixing three things:

But the good news is that everything is in your power to change.

Wealth building isn’t rocket science. Anyone can learn it.

So, what are we waiting for? Let’s dive in…

Step 1: Right Mindset

You’re in an accident. You wake up disoriented, tired, bleeding. Your car

Don’t settle for entitlement, fear, arrogance, cynicism, selfishness or

Mindset is a collection of habits. Habits we can change.

Broke is a state of bank balance. But poor? Poor is a state of mind.

Step 2: Right Skills

So what are the basic skills of managing money? Here’s the

Learning: Find new formulas. Learn them fast;

Accounting: Conquer cash, assets and liabilities;

Sales: Negotiate like a ninja. Become immune to rejection;

Excited? Overwhelmed? However you feel, don’t panic.

To outrun change we must outlearn it. And to outlearn change we

Commit to life-long learning: “Once you stop learning, you start

Kiyosaki’s advice on learning deep vs. broad is clear: “Know a little

Surround yourself with good people – Andrew Carnegie was one of

Keep learning, keep moving, keep hustling.

“Master a formula. Then learn a new one.”

Personal productivity is a combination of two things:

1. Efficiency – doing things right; and

Rich Dad Poor Dad is not a book on personal productivity.

But Kiyosaki does touch on its importance.

Kiyosaki agrees: beware of “the most common form of laziness: laziness

If financial freedom is something you want: make time for it.

First, start by being “truthful about your emotions.”

Next, learn to “be an observer, not a reactor.”

Good advice. Because “when it comes to money, high emotions tend to

Accounting. Investing. Markets. Law. Gulp.

Like cooking, accounting is easier if we prepare the ingredients in

Here’s our list of ingredients:

Your salary is earned income (you working for money);

And the recipe for financial freedom is simple:

1. Buy assets to increase passive income; and

Or in other words, always pay yourself first.

But always pay yourself first.

Not sure where to start? One good approach is to automatically debit

Financial intelligence is half method, half creativity.

Accounting basics all done. It’s really that simple.

But if it’s so simple, where do we go wrong? The problem, Kiyosaki

That’s right. They are all liabilities.