Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki

Nearly everyone wants to be rich, but no one really knows how. Right?

Summary Notes

Rich Dad, Poor Dad

People really do shape their lives through their thoughts.

Many people look at the hardships that life puts them through and get angry, or they give up. Neither of these options will help you achieve what you want. However, when you learn the lesson that life is trying to teach you, and begin to change yourself to solve the problem you face, you will grow into a wise, healthy, and happy person.

Actions to take

The Rich Don’t Work For Money

The poor and the middle-class work for money. The rich have money work for them.

If you want to be rich, a job is only a short-term solution to a long-term problem. It will help you pay the bills this month, but if you want to have money in the long-term, you must change the entire way that you view money and make it work for you instead of you working for it.

When you remove your emotions from the picture and take a cold, hard look at your job, you may realize that you are just wasting your time and that you could be working in a more efficient manner to make a lot more money.

Actions to take

Why Teach Financial Literacy?

The assets are large enough to grow by themselves.

Rich people buy assets, middle-class people buy liabilities that they think are assets, and poor people only have expenses. If you want to be rich, stock up on assets that will generate a good cash flow for you.

Actions to take

Mind Your Own Business

A true luxury is a reward for investing in and developing a real asset.

You don’t have to rely entirely on your assets; you can definitely work a day job too. However, do not use your day job as an excuse to forget about your asset column—you must work hard to build it up.

It is one thing to become rich, but staying rich is not as easy as you risk losing your money to bad investments, careless endeavors, or debt.

Actions to take

The History Of Taxes And The Power Of Corporations

An employee with a safe, secure job, without financial aptitude, has no escape.

If you truly want to be rich, running a corporation is a surefire way to get there. When you rely solely on a paycheck from a corporate employer, you’re essentially a docile cow ready for milking - your salary will be but a small fraction compared to your employer’s.

Actions to take

The Rich Invent Money

Financial intelligence is simply having more options.

Investments have the potential to generate a lot more money than your day job ever will. Even if you want to keep your day job, spend some time investing, too, and you will become rich.

Actions to take

Work To Learn - Don’t Work For Money

Life is much like going to the gym. The most painful part is deciding to go.

Specialization in a certain field/industry narrows your job prospects and opportunities. However, learning a wide range of skills allows you to get involved in a multitude of jobs and investment opportunities, so you can make more money and become rich.

Actions to take

Getting Started

You must take action before you can receive the financial rewards. Act now!

Reading about becoming rich will do very little to help you actually become rich. If you want to achieve monetary success, you will have to take action!

Actions to take

Don’t just read. Act.
Read comprehensive summaries and discover carefully compiled action lists for active learning
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