Read out the most popular motivational book Rich Dad Poor Dad Summary and know if it’s worth reading.
Most popular and motivational book Rich Dad Poor Dad written by Kiyosaki inspired thousands of souls and put ’em on the success track. It’s your time to get hands on this book to change your living style completely. You can check all the magics happening in this book with Rich Dad Poor Dad Summary here that includes all the main points discussed in the book.
Rich Dad Poor Dad Summary
If someone asks me to tell them whole book in few sentences, I would mention these three sentences.
- Rich Dad Poor Dad is about Robert Kiyosaki and two dads—his real father which is poor financially and the father of his best friend who is very rich—and how both dads thoughts, managed and invested money so one got rich and the other got poor.
- High income isn’t necessary to be rich. You can be rich as long as you manage money and invest according to pocket.
- Poor people keeps on working to make money while rich people work smartly and make money work for them.
This book is full of inspiring and motivational ideas that can actually work for anyone. Ideas on how to manage your finances and how to grow your money to be on rich dad’s side instead of losing your money and being on the poor dad’s side.
- Poor and the middle class keeps working only for money. They work as long as they get some money for it. Whereas the rich people work and make money and then let the money work for them.
- Rich dad poor dad book teaches a great thing that it’s about how much money you make, what actually matters is how much money you keep.
- This book imposes two main things: poor people buy the things without staying in their budget while rich people acquire assets instead of liabilities.
- Financial management aptitude is the thing what you do with your money once you earn it, how you control it to be with you or to go away to others, how to keep it longer or to make it work for you to bring more money.
- Most powerful asset to be a rich dad is mind. Control and use it in a way that makes you financially strong.
Rich Dad Poor Dad Lessons
Following are the lessons of Rich Dad Poor Dad Book.
- The Rich Don’t Work for Money
- Why Teach Financial Literacy?
- Mind Your Own Business
- The History of Taxes and The Power of Corporations
- The Rich Invent Money
- Lesson 6: Work to Learn—Don’t Work for Money
Most Inspiring Things You can Learn In This Book
Understanding that the difference between being poor and being broke as being broke is just temporary while the poor is eternal.
Most people don’t understand how to money flows. Understanding the cash flow helps to be rich. It keeps on coming and going, but if you understand how it’s flow and how it works. It can make you real wealthy.
Everybody wants to be rich but nobody will stand to take a risk and will keep sticking to their nine to five job. People live in the limits created by their fear. They get afraid of change and thinking that a 9 to 5 job makes your future secure is lying to yourself. The fear of failure makes most of the people not to try new things and so they miss most of the valuable opportunities.
You must learn the difference between an asset and a liability. An asset is anything that brings money in your pocket while a liability is opposite to asset which takes money out of your pocket. Learning from Rich Dad Poor Dad PDF how finances work are the key to being financially strong and rich. Your financial position can be measured by your money flow. Once you start understanding the difference between assets and liabilities, your get stronger financially.
Reasons Why Most People Are Financially Weak
There are four main reasons why financially literate people may still not be rich:
- Bad habits
For most of the people, the reason they don’t get strong financially is because they are afraid of losing money. Their fear is so heavier than their choice of being rich. So, they just keep doing their job and ignore the opportunities. Failure inspires winners. Failure defeats losers.
In the world of accounting, there are three different types of income:
- Ordinary earned
Make the passive income streams for being on the safe side. If you’re not making money while you’re sleeping, you will keep struggling your whole life to be rich.