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Rich Dad Poor Dad Book Summary

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

by Robert T. Kiyosaki with Sharon L. Lechter, C.P.A.

Rich Dad Poor Dad

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

Robert T. Kiyosaki with Sharon L. Lechter, C.P.A.


Rich Dad Poor Dad challenges conventional thinking about money and wealth building. Through the contrasting narratives of his own highly educated but financially struggling father (Poor Dad) and his best friend’s entrepreneurial father (Rich Dad), Kiyosaki exposes the different mindsets and financial strategies that distinguish the rich from the poor and middle class. The book emphasizes the importance of financial literacy, asset acquisition, and building businesses as key paths to financial freedom.

Table of contents

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Author & Writing Background

Robert T. Kiyosaki is an American businessman, investor, author, and motivational speaker. He is best known for his Rich Dad Poor Dad series of books, which advocate financial education and financial independence. Kiyosaki’s writing style is direct, engaging, and often anecdotal, drawing upon his own life experiences and lessons learned from his two fathers. Prior to writing, he was involved in various business ventures, including real estate and education.

Key Takeaways

The Rich Don’t Work for Money

Kiyosaki argues that the rich focus on acquiring assets that generate income, rather than simply working for a paycheck. He emphasizes the importance of understanding the difference between assets and liabilities and building a strong asset base.

Financial Literacy is Crucial

The book stresses the importance of financial education and understanding how money works. Kiyosaki criticizes the traditional education system for not adequately preparing individuals for real-world financial challenges.

Mind Your Own Business

Kiyosaki encourages readers to develop their own businesses and investments rather than relying solely on employment income. He believes that entrepreneurship is a path to financial freedom and wealth creation.

Taxes and Corporations

The book delves into the tax advantages and legal protections offered by corporations and other business structures. Kiyosaki advocates for utilizing these tools to minimize tax burdens and protect assets.

The Rich Invent Money

Kiyosaki encourages creative thinking and risk-taking when it comes to investing and generating wealth. He highlights the importance of identifying and capitalizing on opportunities.

Work to Learn, Don’t Work for Money

The author emphasizes the value of acquiring financial knowledge and skills through practical experience. He encourages individuals to seek opportunities that provide valuable learning experiences, even if they don’t offer high immediate income.

Overcoming Obstacles

Kiyosaki acknowledges the challenges and fears associated with pursuing financial independence. He provides strategies for overcoming self-doubt, cynicism, and the fear of failure.

Taking Action

The book emphasizes the importance of taking action and putting financial knowledge into practice. Kiyosaki encourages readers to start investing early, even with small amounts, and to continuously learn and grow their financial intelligence.

FAQ about Rich Dad Poor Dad

Is “Rich Dad Poor Dad” only for adults?

While the book is written for a general audience, its financial concepts may be more easily understood by adults with some basic financial knowledge. However, the core principles of financial literacy and wealth building can be valuable for teenagers and young adults as well.

Does the book offer specific investment advice?

The book focuses on broader financial principles and strategies rather than specific investment recommendations. Kiyosaki encourages readers to educate themselves and seek professional advice for specific investment decisions.

Is the “Rich Dad” in the book a real person?

The existence of the “Rich Dad” character has been questioned, and Kiyosaki has offered varying accounts of his identity. Regardless, the lessons and principles conveyed through the “Rich Dad” character remain central to the book’s message.

Rich Dad Poor Dad Quotes

  • ”The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant."
  • "Often in the real world, it’s not the smart who get ahead, but the bold."
  • "Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep.”