Summary of Robert T. Kiyosaki's book: Rich Dad, Poor Dad: Summary

By 15 Minutes Read

Discover how the advice rich and poor parents give their children differs.

The path to financial wealth is fraught with risk. Therefore, it is important to follow this path as intelligently as possible. Learn the importance of entrepreneurial thinking because your thinking determines your wealth. If you want more money, you need to change your mindset. The mindset determines how you act, because success is created in the mind. Therefore, it is primarily the investments in spirit and mind that help you succeed, because these are the most important assets in any financial situation.

This summary analyzes the main ideas and arguments of the book "Rich Dad, Poor Dad" by author Robert T. Kiyosaki.

 

• Language: English
• Publisher: 15MIN LTD
• Release date: Feb 9, 2022
• ISBN: 9798201680152

Book preview

OVERVIEW

WHAT IS THE CORE MESSAGE OF RICH DAD, POOR DAD?

Your thinking determines your wealth. If you want more money, change your way of thinking! The way you think determines how you act. And your action affects the results you achieve.

Success is created in the mind. Therefore, it is primarily the investment in your spirit and mind that will help you succeed, because these are your most important assets in any financial situation.

For example, a poor father will respond to his child's desire to buy something by saying, I can't buy it. The rich father, on the other hand, will ask, HOW can I buy it? His brain will start working. This does not mean buying everything the child wants, but it causes the brain to start moving. The decree I can't buy it, on the other hand, closes the brain to all possibilities and causes a mentally sluggish attitude.

Successful people always start small and build their success from there. This applies to anything you want to make money with. Take the time to find the best ideas and you can reach any financial level you choose. No one else is making that decision for you - it always depends on what you choose.

Above all, educate yourself and acquire basic financial knowledge about things like investments, risks and liabilities. Such knowledge helps to make rational decisions, especially with regard to emotions such as greed and fear.

Unfortunately, financial intelligence is not encouraged at school. You therefore need to develop it on your own. Spend more time with successful people and learn from them, read books, attend courses, seminars and workshops and learn how to make money work for you. Build connections with people who are already established in the market you want to enter. You can reap great long-term benefits from these connections. Your life will become more fulfilling if you take the time to learn and think about where you want to go.

The path to financial wealth comes with risks. Therefore, it is important to follow this path as intelligently as possible.

WHAT IS THE BOOK RICH DAD, POOR DAD ABOUT?

The book tells the story of the author Robert Kiyosaki from a first-person perspective and contrasts the point of view of his own educated but poor biological father with a doctorate with the rich, less educated father of his friend, who was very well versed in financial education and became the richest man in Hawaii. While the friend's rich father acted as his educator and mentor, he uses his own father as a negative example in financial matters, though he certainly loved and appreciated his father as a person.

The author explains that one's home is the most important source of learning for most people. We