Rich Dad and Poor Dad - Book Summary

Rich Dad and Poor Dad is written by Robert Kiyosaki. It is a worldwide bestseller book. This book covers topics around ideas, making money, value investing, financial freedom.

As the saying goes if you are born poor it is not your fault but if you die poor it is your biggest mistake.

Money comes and goes, but if you have an education about how money works and its importance in life, you can gain control over it and start building wealth.

Believing and thinking that by working for someone you are safe and your future is secure is lying to yourself.

A job can fulfill your needs and not your dreams. How about creating wealth to fulfill your dreams?

Most people don't understand why they struggle financially because they don't understand cash flow. Many people realize the situation after losing money and have nothing but regret.

To be financially secure, one needs to mind one's business. One will have more time in his business.

If you are employed and want to start your favorite business, give some time in the beginning and leave the job when you get success gradually.

Wealth puts money in your pocket. Liability takes money out of your pocket. If you want to create wealth responsibly, never depend on one source of income.

A person can be highly educated, professionally successful and financially illiterate. Sometimes it also happens that an illiterate person or a less educated person is the boss and he is employed by people with graduate and master degrees.

The mistake in becoming what you study is that many people forget to mind their own business. They spend their lives minding someone else's business and making that person rich.

Just as every man who works does not become rich himself but makes his boss rich.

A new car loses about 25 percent of the price you pay while a gold, real estate investment gives you returns.

Wealth is a person's ability to last for so many days or if I stopped working today, how long would I last? Wealth should be created in such a way that our family does not face any problem financially in times of recession or in times of our illness.

The primary reason most poor and middle-class people are financially conservative is 'I can't take risk' - or they don't have the ability to take financial risk.

Great opportunities are not visible to your eyes. They are perceived by your mind. Everything that we see around us was first born in someone's mind.

The world always offers you opportunities of a lifetime, every day of your life, but often we fail to see them. Sometimes we are not able to take the opportunities we get well and hurt someone's trust and confidence.

In Kiyosaki's personal experience, your financial genius requires both technical knowledge as well as courage.

It's not gambling if you know what you're doing. If you put money into a deal and pray, it is gambling. Greed is man's greatest enemy of wealth creation.

Education is more useful in the long run. You have money, craftsmen to work. Raw material is there but if you don't know how to talk and treat your craftsmen it will go away one day. He will employ your competitor by going there and the loss will be yours.

Money doesn't work everywhere, somewhere you have to use your understanding, skills and behavior too.

The problem with 'secure' investments is that they are often sanitized, that is, made so safe that the gains are less.

Kiyosaki sees one thing in common in all of us, including himself. We all have tremendous potential, and we are all blessed with gifts. Yet one thing that holds us all back to some extent There is self-doubt and self-belief.

The reason many talented people are poor is because they focus on doing better and don't know anything about business systems.

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