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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!

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  • Create Date：2021-03-17 03:17:25
  • Update Date：2025-09-09
  • Status：finish
  • Author：Robert T. Kiyosaki
  • ISBN：1612680194
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Summary

April 2017 marks 20 years since Robert Kiyosaki’s Rich Dad Poor Dad first made waves in the Personal Finance arena。
It has since become the #1 Personal Finance book of all time。。。 translated into dozens of languages and sold around the world。

Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend， his rich dad — and the ways in which both men shaped his thoughts about money and investing。 The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you。

20 Years。。。 20/20 Hindsight
In the 20th Anniversary Edition of this classic， Robert offers an update on what we’ve seen over the past 20 years related to money， investing， and the global economy。 Sidebars throughout the book will take readers “fast forward” — from 1997 to today — as Robert assesses how the principles taught by his rich dad have stood the test of time。

In many ways， the messages of Rich Dad Poor Dad， messages that were criticized and challenged two decades ago， are more meaningful， relevant and important today than they were 20 years ago。

As always， readers can expect that Robert will be candid， insightful。。。 and continue to rock more than a few boats in his retrospective。

Will there be a few surprises？ Count on it。

Rich Dad Poor Dad。。。
• Explodes the myth that you need to earn a high income to become rich
• Challenges the belief that your house is an asset
• Shows parents why they can't rely on the school system to teach their kids
about money
• Defines once and for all an asset and a liability
• Teaches you what to teach your kids about money for their future financial
success

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Reviews

Adnan Yakub ，

I enjoyed it even though I was expecting more than what I got。 Because of how highly it was hyped， I was demanding more than it could give me。 But all the same it's a 5* rating for me I enjoyed it even though I was expecting more than what I got。 Because of how highly it was hyped， I was demanding more than it could give me。 But all the same it's a 5* rating for me 。。。more

Prasad Kris ，

It still remains one of the best book！However after reading Master your money， master your life by Abhishek Kumar which kind of extracts the information from all best books， this looks so very normal。

Tim Chang ，

I felt like this book was interesting enough to get me to read it until the end， but I finished it disappointed。 Not only is the writing overly repetitive and not believable （especially his anecdotes about growing up）， there is very little detail about what he believes to be winning financial strategies。 Yes， I get that you have to make money work for you， but how？ By flipping foreclosed houses and miraculously making $40k on each of these houses？ That seemed to be the main example of how he got I felt like this book was interesting enough to get me to read it until the end， but I finished it disappointed。 Not only is the writing overly repetitive and not believable （especially his anecdotes about growing up）， there is very little detail about what he believes to be winning financial strategies。 Yes， I get that you have to make money work for you， but how？ By flipping foreclosed houses and miraculously making $40k on each of these houses？ That seemed to be the main example of how he got rich， but it seemed very limited in scope， risky， and even borderline predatory and manipulative。 I guess he mentioned stocks （if you have insider info） or owning a business you don't have to work at （as if that's as easy as it sounds）。 More examples and specifics would have gone a long way。 But maybe that was the point of this book - staying vague so he can sell you something else like seminars that he swears by。 No thanks。Even if you agree with his principles （most of which sound good， and some are actually sound）， this book could have easily been condensed into half the length had he not kept going on about the same concepts， using the same words。 In my opinion， it was bad content that was poorly written。I wouldn't recommend reading this book to most people。 I didn't find it beneficial， personally。 。。。more

Jasmine ，

Excellent and practical reading for finances！ I was surprised and relieved to learn that I've actually found out about some things about investing and selling before reading。 So I think I'm on the right track！ I just wish I read this years ago。 Highly recommend！ Excellent and practical reading for finances！ I was surprised and relieved to learn that I've actually found out about some things about investing and selling before reading。 So I think I'm on the right track！ I just wish I read this years ago。 Highly recommend！ 。。。more

Vignesh Yelluri ，

4。5*No wonder that this book is a must read for understanding the basics of financial intelligence。Indeed made me aware of lot of things that I had wrong / limiting assumptions。 Money is just an idea and we need to learn it for what it is rather than what society has made us believe in。Would definitely recommend my children to read this book :D

Ana Lima ，

Opened my mind！

Prateek Aggarwal ，

Lightening insights waking u up from the cliche 9-5 but some places just get too optimistic。

Thomas Platt ，

Rich Dad Poor Dad is the legendary intro to finance book that has been read my millions of people。 I would highly recommend this book as it explains the importance of passive income and good investing。

Ryan ，

The best book as a starter to become rich。

Sagun Karanjit ，

This book inspired me to start working on my portfolios。 The lessons helped me to make a decision to become financially independent。It has an amazing story， lessons， and applicable suggestions。

Frankie Lia ，

I wish I would have picked up this book years ago。

Anna-Lena ，

Ein must-read unter den Büchern über Geld & Finanzen。Robert Kiyosaki bringt seinem Leser anhand vieler Fallbeispiele bei， wie es die reichen Menschen zu Reichtum und finanzieller Freiheit schaffen und stellt anschaulich dar， was ihm sein armer Vater und was sein reicher Vater über Geld beigebracht hat。Meine größten Learning: 1。 Wir sollten früh anfangen in unsere finanzielle Bildung zu investieren und am besten schon unseren Kindern ein Basiswissen hierzu vermitteln。2。 Im Supermarkt rennen alle Ein must-read unter den Büchern über Geld & Finanzen。Robert Kiyosaki bringt seinem Leser anhand vieler Fallbeispiele bei， wie es die reichen Menschen zu Reichtum und finanzieller Freiheit schaffen und stellt anschaulich dar， was ihm sein armer Vater und was sein reicher Vater über Geld beigebracht hat。Meine größten Learning: 1。 Wir sollten früh anfangen in unsere finanzielle Bildung zu investieren und am besten schon unseren Kindern ein Basiswissen hierzu vermitteln。2。 Im Supermarkt rennen alle hin， wenn es Angebote gibt。 Herrscht ein Börsencrash oder eine Korrektur vor （was schlussendlich nichts anderes ist， als ein super Angebot）， laufen alle weg！ Geld verdienen wir beim Kaufen， nicht beim Verkaufen， von Aktien。 3。 Es gibt 3 Einkommensquellen: Das Gehalt durch einen Job， die Gewinne aus einem Portfolio und passives Einkommen， vor allem durch Immobilien。 Am meisten Steuern zahlen wir auf unser Gehalt。。。4。 Niemand möchte Geld an der Börse oder bei einer Immobilieninvestition verlieren， aber nur wer auch Risiken eingeht kann große Gewinne verbuchen。 5。 Geld kann für uns arbeiten， wir müssen nicht für unser Geld arbeiten。 。。。more

Valentina Bonilla ，

Great book，easy to read， great examples， inspiringGreat book，easy to read， great examples， inspiring。 Helped me re evaluate some aspects of my life as well as learned to think different。

Michael Commisso Jr。 ，

Great book。 A lot of good learning points。 Will definitely recommend。My biggest complaint was at the end of the chapter they would basically do an overview of everything that was said。 It was like reading the chapter all over again。 Which I had a love hate relationship with。

Nguyễn Hữu Dũng ，

Cuốn sách vẫn nặng lý thuyết， ít thực tế。 Nhưng một vài điều rất bổ ích như Liên đoàn， Trả cho mình trước （để đầu tư）， Chi nhưng không phí！

Chris Hogan ，

Just okay The book provided some solid foundational recommendations but that latter half turned into more of a sales for his own products and books than anything。

Ericteur ，

Passive Income， that‘s the way forward！ The repetition was a bit too much， especially the repetition of the repetition and the ‚Richard says‘， but overall a good book with nice insights and a positive challenge to get more passive and portfolio income。 And be a rich dad！

Thangaraj Kannan ，

Book gifted to my by my friend。 I have to thank her for sharing the book then I have to thank Mr。 Kiyosaki for making the subject very simple to understand and easy to apply in real-time。 A must read for all those who are looking out to become financially independent。

Jesse Morris ，

Food for thought

Greg ，

Quick read。 Boomer point of view。 Not bad at all 。

Sandip Prafulbhai ，

Very nice bookVery good book to get basic financial education and strategies。 Rich dad's principles are really good to implement。 All the best！ Thank you！ Very nice bookVery good book to get basic financial education and strategies。 Rich dad's principles are really good to implement。 All the best！ Thank you！ 。。。more

Amber Thomas ，

While there were definitely some good nuggets of information in the book， I found some of it to be condescending。 And the more I read， the more redundant his message became。 His message was pretty drawn out and repetitive。 But I will say that I am now intrigued about real estate investing！

Adnan Ali ，

It's okay he tells things about capatlism but to be sure and precise I don't think this book will help u open a buisness or plan something if ur looking for financial education on base lvl maybe it will help u but to be precise it tells how the society traps people by giving them dream jobs only to found that they are stuck on jobs they don't love and how money is ur biggest ally it truely is except ur true friends 。 It's okay he tells things about capatlism but to be sure and precise I don't think this book will help u open a buisness or plan something if ur looking for financial education on base lvl maybe it will help u but to be precise it tells how the society traps people by giving them dream jobs only to found that they are stuck on jobs they don't love and how money is ur biggest ally it truely is except ur true friends 。 。。。more

Elmehdi Handazi ，

This book seems to be from the cover page or the title; talks about how to earn money and live a very happy rich life; but by its content reveals that the real way of success is how we should think。It’s not your problem if you are poor; also it’s not a luxury to be rich。All of us the poor or the rich must free there thinking from fear; the first one needs to find extra solutions to bring additional money; because this last will let him pave the way to start investing 。The second one -the rich I This book seems to be from the cover page or the title; talks about how to earn money and live a very happy rich life; but by its content reveals that the real way of success is how we should think。It’s not your problem if you are poor; also it’s not a luxury to be rich。All of us the poor or the rich must free there thinking from fear; the first one needs to find extra solutions to bring additional money; because this last will let him pave the way to start investing 。The second one -the rich I mean – his purpose not veru different from the poor one; it is true he achieved the purpose of being wealthy but this is just the begining; he must be always ready to set up new business as much as he can in order to create assets 。that’s what we call money works for money; that is why all of us poor andrich must distroy the barriere of fear Because it does not serve the interests of both parties。 。。。more

Nathalia ，

I wanted to learn more about investing and gave this book a shot （the most reordered book at our library - between never being returned and theft）。 It is informative and gives you some insight into Kiyosaki's financial philosophy and what has worked successfully for him。 Very interesting。 I'm ready to be a millionaire now。 :） I wanted to learn more about investing and gave this book a shot （the most reordered book at our library - between never being returned and theft）。 It is informative and gives you some insight into Kiyosaki's financial philosophy and what has worked successfully for him。 Very interesting。 I'm ready to be a millionaire now。 :） 。。。more

Kadi ，

I liked the way his rich dad thought。 I don't agree with everything but it's an interesting perspective on the matter。 Mind has power in making things happen， choose carefully what you think。 Something to look into - https://www。richdad。com/ （it has the online cashflow game）。“I can’t afford it。” - your brain stops working。 “How can I afford it？” - your brain is put to work。Thoughts play an important role， you can choose what you think。 Somebody can be poor， not because of the amount of money the I liked the way his rich dad thought。 I don't agree with everything but it's an interesting perspective on the matter。 Mind has power in making things happen， choose carefully what you think。 Something to look into - https://www。richdad。com/ （it has the online cashflow game）。“I can’t afford it。” - your brain stops working。 “How can I afford it？” - your brain is put to work。Thoughts play an important role， you can choose what you think。 Somebody can be poor， not because of the amount of money they earn， but because of their thoughts and actions。Money comes and goes， but if you have the education about how money works， you gain power over it and can begin building wealth。Lesson 1 - The rich don't work for money。 The rich have money work for them。Most people only talk and dream of getting rich， the important thing is to keep on doing something and not quitting。 Some just let life push them around。 Others get angry and push back。 But they push back against their boss， or their job， or their husband or wife。 They do not know it’s life that’s pushing。 If you realise that you’re the problem， you can change yourself， learn something， and grow wiser。 Most people want everyone else in the world to change but themselves。The fear of being without money motivates us to work hard， and then once we get that paycheck， greed or desire starts us thinking about all the wonderful things money can buy。 Be truthful about your emotions and use your mind and emotions in your favour， not against yourself。You should ask yourself "Is there something I’m missing？"Lesson 2 - Why teach financial literacy？You must know the difference between an asset and a liability， and buy assets。* Income Statement - Profit-and-Loss Statement （salary， rental income， dividends， interest， royalties as profit; taxes， rent， food， transportation， clothes， mortgage payment， car payment， credit card payment and school loan payment as loss）* Balance Sheet - it’s supposed to balance assets against liabilities。 An asset puts money in your pocket （real estate， stocks， bonds， notes， intellectual property）。 A liability takes money out of your pocket （mortgage， car loans， credit card debt， school loans）。 If you want to be rich， you’ve got to read and understand numbers。Illiteracy， both in words and numbers， is the foundation of financial struggle。Cash flow tells the story of how a person handles money。1。 You work for the company - the business owners or the shareholders get rich， not employees。2。 You work for the government - the government takes its share from your paycheck before you even see it。 By working harder， you simply increase the amount of taxes taken by the government。 3。 You work for the bank - after taxes， your next largest expense is usually your mortgage and credit-card debt。Wealth measures how much money your money is making and your financial survivability。 Wealth is the measure of the cash flow from the asset column compared with the expense column。Lesson 3 - Mind your own business， start buying real assets。Don't confuse your profession with your business。 Your profession revolves around your income column and your business around your asset column。Financial struggle is often the result of people working all their lives for someone else。Lesson 4 - The history of taxes and the power of corporations。 The harder you work， the more you pay the government。 The rich search for ways to minimise their tax burden。 They hire smart attorneys and accountants， and persuade politicians to change laws or create legal loopholes。 They use their resources to effect change。If you work for money， you give the power to your employer。 If money works for you， you keep the power and control it。 If you’re ignorant， it’s easy to be bullied。 If you know what you’re talking about， you have a fighting chance。 Your assets are your corporation。 Invest your salary in your assets so that they can start earning you money。Financial IQ:1。 Accounting - the ability to read numbers， to read and understand financial statements which allows you to identify the strengths and weaknesses of any business。2。 Investing - money making money。3。 Understanding markets - the science of supply and demand。4。 The law - understand the tax advantages and protections provided by a corporation。   - A corporation can pay expenses before paying taxes。 Employees earn and get taxed， and they try to live on what is left。 A corporation earns， spends everything it can， and is taxed on anything that is left。 For example， by owning your own corporation， your vacations can be board meetings in Hawaii。 Car payments， insurance， repairs， and health-club memberships are company expenses。   - The rich hide much of their wealth using corporations and trusts to protect their assets from creditors。 When someone sues a wealthy individual， they are often met with layers of legal protection and often find that the wealthy person actually owns nothing。Lesson 5 - The rich invent money。Often in the real world， it’s not the smart who get ahead， but the bold。 Your financial genius requires both technical knowledge as well as courage。Financial intelligence is simply having more options。 If the opportunities aren’t coming your way， what else can you do to improve your financial position？It is not gambling if you know what you’re doing。 It is gambling if you’re just throwing money into a deal and praying。 The idea in anything is to use your technical knowledge， wisdom， and love of the game to cut the odds down， to lower the risk。To be an investor who creates investments:1。 Find an opportunity that everyone else missed。2。 Raise money。3。 Organise smart people。Lesson 6 - Work to learn， don't worry for money。Learn a little about everything to have a clearer understanding of how things work around you。 Skills do not necessarily transfer from industry to industry which is why it is important to keep an open mind and keep on taking in new knowledge。 There is a horrible management theory that goes， “Workers work hard enough to not be fired， and owners pay just enough so that workers won’t quit。”In your job， seek for what you will learn， more than what you will earn。 People look forward to their pay raise every year， and every year they are disappointed。 Some learn more qualifications to get another raise， but then， once again， there would be another disappointment。Where is this daily activity taking you？ Take a long view of your life。Fear of failure and rejection are the main reasons people are unsuccessful。 Be a salesperson， marketer， machine operator， labourer etc。 The ability to sell - to communicate with another human being - is the base skill of personal success。 Communication skills such as writing， speaking， and negotiating are crucial to a life of success。  Lesson 7 - Overcoming obstacles。 Once people are financially literate， they may still face roadblocks to becoming financially independent:1。 Fear - Most people play it too safe。 The reason they don’t win financially is because the pain of losing money is far greater than the joy of being rich。 Failure inspires winners， but it defeats losers。2。 Cynicism - All of us have doubts and these doubts often paralyse us。 We play the “What if？” game。 “What if the economy crashes right after I invest？” “What if things don’t go as I planned？” Do not let rumours and talk of doom and gloom affect your doubts and fears。 3。 Laziness - There are people too busy to take care of their wealth， health and relationships。 They stay busy as a way of avoiding something they do not want to face。 You need a little greed to beat laziness。 4。 Bad habits - Pay yourself first。5。 Arrogance - What you know makes you money and what you don’t loses。 Every time you are arrogant， you lose money。 There are many people in the world of money， finances， and investments who have absolutely no idea what they’re talking about。 When you know you are ignorant in a subject， start educating yourself。Lesson 8 - Getting started。1。 Find a reason greater than reality: the power of spirit。 I want to be rich because of a combination of deep emotional “wants” and “don’t wants。” I don’t want to work all my life。 I want to be free to travel the world and live in the lifestyle I love。 I want to be young when I do this。 I want to be free。 I want control over my time and my life。 I want money to work for me。2。 Make daily choices: the power of choice。Our spending habits reflect who we are。 Choose to be rich， and make that choice every day。 Invest in education， the only real asset you have is your mind。 Listening is more important than talking。3。 Choose friends carefully: the power of association。From the rich you get to know where the money is made and from the poor where it is not and what to avoid。 Be true to yourself and to be willing to not go along with the crowd。 4。 Master a formula and then learn a new one: the power of learning quickly。Be careful what you learn， because your mind is so powerful that you become what you put in your head。 Learn a formula， test it out and then learn another one。 The skill of learning fast is priceless。5。 Pay yourself first: the power of self-discipline。You must master cash flow， people and personal time。 Each month allocate money to your assets before paying your monthly expenses。6。 Pay your brokers well: the power of good advice。Many poor people tip restaurants 15 to 20 percent， but complain about paying a broker three to seven percent。 They tip people in the expense column and not people in the asset column。 7。 Be an Indian giver: the power of getting something for nothing。Move your money in for a week or a month while the stock moves up。 Then pull your initial dollar amount out， leaving the gain in。 So your money goes in， and then it comes out， and you own an asset for free。 8。 Use assets to buy luxuries: the power of focus。With weak mental fortitude money flows into the paths of least resistance。 Too often， we focus on borrowing money to get the things we want instead of focusing on creating money。 One is easier in the short term， but harder in the long term。9。 Choose heroes: the power of myth。By having heroes， we tap into a tremendous source of raw genius。 Find heroes who make it look easy - Warren Buffet etc。10。 Teach and you shall receive: the power of giving。Whenever you feel short or in need of something， give what you want first and it will come back in buckets。 When it comes to money， love， happiness， sales， and contacts， all one needs to remember is to give first。 You only need to be generous with what you have。Lesson 9 - Some to-dos。1。 Stop doing what you’re doing。 Take a break and assess what is working and what is not。2。 Look for new ideas。3。 Find someone who has done what you want to do。4。 Take classes， read， and attend seminars。5。 Make lots of offers。6。 Go to the market and talk to a lot of people， make a lot of offers， counteroffers， negotiate， reject， and accept。7。 Jog， walk， or drive a certain area once a month for 10 minutes。 Look for changes， who is selling their house， who is moving etc。8。 Shop for bargains in all markets。9。 Look in the right places for real estate。 Buy when prices are low。 10。 Look for people who want to buy first。 Then look for someone who wants to sell。 Buy the pie， and cut it in pieces。 Buyers get only a piece of the pie， so they end up paying more for less。11。 Think big。 If you want to buy something， then look for people also wanting to buy it and buy it together because items sold in bulk are often cheaper。12。 Learn from history。13。 Action always beats inaction。 。。。more

Si Jing ，

This book highlighted the need for everyone to enhance their financial literacy and a few tips on what the 'rich' do that makes them wealthy as compared to the 'poor' and 'middle class'。 As a 20-year-old， I felt that all this book did was make me feel more urgent in learning about my finances but did not actually teach me anything concrete to apply in real life。 Overall， it was a good motivational read but if you're looking for something that teaches more on investments and the attainment of ass This book highlighted the need for everyone to enhance their financial literacy and a few tips on what the 'rich' do that makes them wealthy as compared to the 'poor' and 'middle class'。 As a 20-year-old， I felt that all this book did was make me feel more urgent in learning about my finances but did not actually teach me anything concrete to apply in real life。 Overall， it was a good motivational read but if you're looking for something that teaches more on investments and the attainment of assets， I suggest other niche books instead。 。。。more

Top Hat Puffin ，

This book contains a lot of principles and lessons that you can learn from。 However， it is just that: principles and lessons。 You should not expect advice on how to actually act and get rich， but you can use this book to see if your mindset or your attitude towards money should be changed。 In other words， this book is better served as a motivator for you to build up on how you want to approach the topics of managing your money and growing your wealth。That’s not to say that this book is useless， This book contains a lot of principles and lessons that you can learn from。 However， it is just that: principles and lessons。 You should not expect advice on how to actually act and get rich， but you can use this book to see if your mindset or your attitude towards money should be changed。 In other words， this book is better served as a motivator for you to build up on how you want to approach the topics of managing your money and growing your wealth。That’s not to say that this book is useless， but treat it as a push for you to start taking steps to improve your financial literacy as well as to understand your current relationship with money， rather than a textbook on how to invest better or a guidebook on personal finance。I find that Robert Kiyosaki probably intended to market this book to people interested in getting rich， and he does it quite well。 Most of the examples you find in the book are usually anecdotes， where he recalls his past experiences to prove the point that he was trying to make。 It’s not very convincing to me， though。 。。。more

Andrea Quattrone ，

Interesting， thats's good to remind you things we all already know but we never think enough of Interesting， thats's good to remind you things we all already know but we never think enough of 。。。more

Sourabh ，

Essential book to read for basic financial education。

Reference

google book https://www.google.com/search?tbm=bks&q=Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0