Rich dad poor dad summary
Robert Kiyosaki is the author of book Rich dad, poor dad. Through this book, Robert has challenged the conventional way of thinking towards earning and money management.
This book also criticizes the way of traditional education which does not teaches enough about money management in school. He has explained Assets and Liabilities in this book. Read Rich dad poor dad summary in this blog post.
Robert is businessman, entrepreneur and author of many best selling books on personal finance and financial literacy. His books teaches about financial independence through financial literacy and investing mindset.
Why Rich dad poor dad become so popular worldwide and translated in many languages? Why millions of people read this book and learn successful principles of money management and financial literacy? Why Rich dad poor dad book is in the list of top books on personal finance even after more than 23 years since first edition?
The answer to all these questions is Robert’s unique style of explaining complex words of finance in easy and interesting way. Robert oppose the thought that advocates the rich are born rich. Besides this, he successfully taught readers the difference between Assets and liabilities, which is key concept in becoming rich. He also focused on words Rich people being used and poor people has used in their life. After all words you used to talk with yourself are also one of the the secret of being rich.
After reading the book Rich dad, Poor dad, I liked the way Robert Kiyosaki write and so I read all other books written by this author.
This book is the primary book for those who want to learn effective money management, investing, financial literacy etc. Rich dad poor dad summary is short introduction to this great book.
As I read many books on investing, money management, I personally liked some books more than other books and liked some quotes from such books.
Rich dad poor dad is one such highly powerful book to teach financial literacy. I am very sure if readers read this book completely and act accordingly, they will benefitted by this.
Let’s summarize the book ‘Rich dad poor dad’ in Rich dad poor dad summary.
During schooldays, Robert and Mike was studying together and were good friends. Robert’s father was highly educated and posted in education department of Government. On the other hand Mike’s father has some school level education and running his some businesses.
Robert use the term Rich dad for Mike’s father and Poor dad for Robert’s father.
At his growing age, Robert was confused about to whom he should listen for financial advice.
His father (Poor dad) was a supporter of education for getting a good and high paying job. On the other hand, Mike’s daddy (Rich dad) was also a supporter of a good education but for business and not for a job.
Poor dad says, ‘There is no importance for money in my life’; whereas Rich dad says, ‘Money has power’.
Finally at the age of nine years, Robert decided to listen his Rich dad. The book ‘Rich dad poor dad’ tell all that what Robert was learnt during his financial journey.
Financial literacy is a must for great success, says Robert. This book also introduces readers to complex terms such as Assets, Liabilities, cash flow, Balance sheet etc.
In chapter 2 of book ‘Rich dad poor dad’, Robert wrote, ‘Poor people works for money, Rich people don’t work for money. Instead their money works for them.’ This chapter explains the power of thinking towards earning and managing money.
Chapter 3 is focused on ‘Why financial literacy is must?’ The concepts of asset, liabilities and cashflow are explained in this chapter in detail. By reading this chapter, reader slowly understands about the importance of asset and cash flow in successful money management.
I specially liked chapter 6 of this book. ‘Work for learn and not for money’, says kiyosaki in this chapter.
At the end of book, Robert wrote about how to start this journey and how to overcome obstacles during this journey. These chapters will helpful to every reader who want to START this financial literacy journey.
Rich dad poor dad summary
Overall the book Rich dad poor dad is must in our library if we want to develop a correct mindset towards money and investing.
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