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Rich Dad Poor Dad

Written by Robert T Kiyosaki

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About this book

Rich Dad Poor Dad, the #1 Personal Finance book of all time, tells the story of Robert Kiyosaki and his 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. Amazon.com Review Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed.--Howard Rothman--This text refers to the Paperback edition. About the Author Robert Kiyosaki, author of Rich Dad Poor Dad - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money. In communicating his point of view on why 'old' advice - get a good job, save money, get out of debt, invest for the long term, and diversify - is 'bad' (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage. Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher's Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today's #1 Money Book" two years in a row. It is the third longest-running 'how-to' best seller of all time. Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe.

Reading guide

Themes, characters and key ideas in Rich Dad Poor Dad, written by Chaptra AI.

  • about 6 hours
  • beginner
  • enlightening
  • challenging
  • motivating

Rich Dad Poor Dad presents Robert Kiyosaki's formative financial education, contrasting the advice of his highly educated but financially struggling biological father ("Poor Dad") with that of his wealthy, entrepreneurial best friend's father ("Rich Dad"). Through a series of anecdotes and lessons, the book challenges conventional wisdom about money, advocating for financial literacy, asset accumulation, and entrepreneurship over traditional employment and saving. It emphasizes the crucial difference between working for money and having money work for you, ultimately aiming to empower readers to escape the 'rat race' and achieve financial independence by shifting their mindset about wealth and investing.

The rich don't work for money. They have money work for them.

Key themes

Financial Literacy vs. Traditional Education
The central theme of the book, arguing that conventional schooling prepares individuals for employment but not for financial independence. Kiyosaki emphasizes that true wealth requires understanding accounting, investing, markets, and the law, skills rarely taught in academic institutions.
Assets vs. Liabilities
This theme introduces a fundamental redefinition of assets and liabilities. Kiyosaki states that an asset is anything that puts money in your pocket, while a liability is anything that takes money out of your pocket. This contrasts with common accounting definitions and challenges the idea that a primary residence is always an asset.
Working for Money vs. Having Money Work for You
This theme explores the core difference in mindset between the rich and the poor/middle class. The poor and middle class work for a paycheck, trading time for money. The rich, however, build or acquire assets (businesses, real estate, stocks) that generate income passively, allowing their money to work for them.

Worth discussing

How does Kiyosaki's definition of 'asset' and 'liability' differ from conventional understanding, and what are the implications of this difference?

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