Rich Dad Poor Dad REVEALED: The SHOCKING Secrets to Financial Freedom!

Robert Kiyosaki is a Japanese American author entrepreneur and businessman as well as the creator of Rich Global LLC and the Rich Dad Company...

I chose to read his book after hearing Robert Kiyosaki on Money Personal Finance & More | TRS 337 that was published on Sept 5th 2023.

I finished the book within three days!

In the episode he revealed some terrible facts about the system of education we have and also how were not aware of the knowledge which could earn us a profit in the coming years...

He also talked about his training in the military as well as the future of work due to the advent technology known as Artificial Intelligence..

About the book

Rich Dad Poor Dad is a classic of personal finance composed by Robert Kiyosaki...

The book outlines the writers financial literacy by comparing the different ideas and habits of two father people that he has encountered in his lifetime which include His Poor Dad (his biological father)) as well as the Rich Dad (his best friends father).

The book is an excellent source for those looking to enhance their financial knowledge and to make better financial choices...

Was there anything that stuck with me?

This is the exact phrase by the author which made a lasting impression on my mind chapter after chapter.

1. Rich Dad Poor Dad

How we view money is a major factor in the success of our finances.

• The only one who can teach you to be rich is yourself.

• In life most intelligent individuals are those who fail and are learning. When it comes to school the best students dont commit mistakes. .

• Its not how much money you make but how much money you keep how hard it works for you and how many generations you keep it for.

2. The Rich Dont Work for Money

Concentrate on the acquisition of income generating assets and not just work for the money.

• The poor as well as middle class are paid to work. Rich people earn money working to their benefit .

• The poor and the middle class avoid risk because they believe that a job is a safer way to earn a living.

• Peoples lives are forever controlled by two emotions: fear and greed.

• If you dont first handle fear and desire and you get rich youll only be a high paid slave.

3. Why Teach Financial Literacy?

Education in finance is far more beneficial than formal education in building the wealth.

• The greatest asset that we have all of us is our brain. If trained properly it will create incredible prosperity .

• The love of a job is a little more secure than the love of money.

• Formal education will make you a living self education will make you a fortune.

• Money without financial intelligence is money soon gone.

4. Mind Your Own Business

The process of building and owning the assets that generate income for you can lead towards financial independence.

• Jobs are a short term solution to a long term problem.

• The problem with having a job is that it gets in the way of getting rich.

• Financial struggle is often the result of people working all their lives for someone else.

• If you feel that Im part of the issue then you need to make changes in me.

If you recognize that youre not the cause and you want to alter yourself gain knowledge and gain wisdom...

Everyone wants everyone on the planet to transform their lives. You can be assured that its easier for you to change more than anyone else...

• The lack of money is the root of all evil.

• The richest people in the world look for and build networks while everyone else looks for work.

• The most important work is not the business but the building of the business.

• The most happy people in the world are those who constantly have questions.

Theyre constantly studying...

Theyre constantly growing...

Theyre never stopping...

5. The History of Taxes and the Power of Corporations

Corporate structures and tax knowledge are a great way to reduce financial burdens and help you build fortune.

• The the wealthy purchase the most valuable assets.

They have no expenses.

Middle class people buy assets that they consider asset .

• The more you learn the more you earn.

• One of the great lessons I learned from my rich dad was to find out what you are worth.

• The primary reason the rich get richer is not because of greed but because they know the power of money is not in the consuming but in the investing.

• In the world of money the business of the business is the best business of all.

6. The Rich Invent Money

You should be creative and flexible in coming up with new revenue sources.

• The world is full of talented poor people.

• The moment you make passive income and portfolio income a part of your life your life will change.

• The primary difference between a rich person and a poor person is how they manage fear.

• There is gold all around. The majority of people arent trained to spot it. .

7. Work to Learn Dont Work for Money

Learn self education and develop techniques to boost your earnings potential.

• Dont let the fear of losing be greater than the excitement of winning.

• The key to life is to be happy with or without money.

• I have seen so many having a hard time usually working more due to their adherence to the old ways of thinking. They wish things remain exactly as they were before They are resistant to change .

• I havent seen a person rich that hasnt lost money. However Ive met many poor individuals who havent been able to recover a penny .

8. Overcoming Obstacles

Rethink your thinking and assume on the financial responsibility of your future.

• The fear of being different prevents most people from seeking new ways to solve their problems.

• Winners dont fear losing. Losers however are. In the path to success .

• The more a person seeks security the more that person gives up control over his life.

9. Getting Started

Start small and make your first steps to financial freedom.

• The biggest challenge you have is to challenge your own selfdoubt and your laziness.

• Dont get dependent on the world of money. Learn to work. Dont do it for the money. .

• People without financial knowledge who take advice from financial experts are like lemmings simply following their leader.

10. Still Want More? Here Are Some To Dos

The chapter covered ways to achieve your financial targets.

• There are no bad business and investment opportunities there are just bad entrepreneurs and investors.

• The key to financial freedom and great wealth is a persons ability or skill to convert earned income into passive income and/or portfolio income.

• The power of our thoughts is capable of producing wealth and once earned wealth like any form of power is capable of duplication.

• In our fast changing times there isnt much of how much you know is important as the majority of what youve learned is outdated.

The key is the speed at which you master .

11. Final Thoughts

The path to financial freedom can be made through changing your outlook and gaining control over your financial situation.

• There is a distinction between having a poor life and broken. The latter is just a temporary situation. Poor is eternal.

• The most life destroying word of all is the word tomorrow.

• Its not the words you put through your mouth that decides the quality of your future.

Its the words you speak about yourself that gives you the greatest power .

Rich Dad Poor Dad is a challenge to the conventional wisdom on money and provides a fresh view of how to build wealth.

The book focuses on financial education as well as asset acquisition and the ability to think entrepreneurially as key elements for the financial prosperity.

When these ideas are implemented it is possible to work towards attaining financial freedom and an improved for the future...