On today's show, I will be giving you a summary of Robert Robert Kiyosaki’s Rich Dad Poor Dad book. This is a famous book that has been mentioned in past episodes several times, but just in passing. This book changed and influenced the lives of a lot of people, myself included.

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Rich Dad Poor Dad Book Summary
Welcome to Passive Real Estate Investing. I’m your host, Marco Santarelli. On this episode, I want to talk about a very famous book, Rich Dad Poor Dad. I want to make a book summary here. If you’ve read the book, even if you’ve read the book more than once or you’re familiar with the book, I still suggest listening to this episode because we learn through repetition. You might catch a lot of things in your first run-through with the book but it’s not until you listen to something or read something a second or third time that you catch things you missed the first time, and you catch some new ideas that connect and gelled with new knowledge that you have in your head. It's always good to hear things a second or third time, because often you’ll catch new ideas and see things in a new perspective.

Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Rich Dad Poor Dad was a book that really affected me and opened my eyes because when I was reading that book, I literally cannot put it down. I was just so drawn into it. I was on a train ride from Rome to Florence, Italy at the time. With this beautiful countryside whizzing by on both sides of the train, it was more important to me to read the Rich Dad Poor Dad book than it was to look out the window of the train and admire and take in the beautiful scenery. I was focused.

The nice thing about Rich Dad Poor Dad is that the book summarizes Robert Kiyosaki’s lessons learned from two different perspectives, that of a poor man and that of a rich man. Drawing on his own experiences, Robert Kiyosaki discusses how he creates financial independence through investing and property ownership and building businesses. In his book, he says, “Look around, the richest people didn’t get rich because of their education. You look at Michael Jordan or Madonna, even Bill Gates who dropped out of Harvard and founded Microsoft, he’s now the richest man in America and he’s still in his 30’s.” That was back then, keep in mind this was twenty years ago. The point he’s trying to make is that, getting a good education and making good grades no longer ensures you success. Nobody seems to have noticed this.

He talks about two perspectives, and they’re very subtle but they’re two different perspectives. He says one is, “The love of money is the root of all evil,” but then he also says, “The lack of money is the root of all evil.” I tend to believe the latter. I come from the camp that a lack of money is the root of all evil because if you have enough money, cash, then you can resolve your issues and you can be charitable and help other people with their issues. I think if you have that lack mentality, it’s really more of a poor and middle class type of perspective. It’s not a perspective of abundance.

One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is because the subject of money is taught at home, not in school. Most of us learn about money from our parents. What can a poor parent tell their child about money? Money is not taught in schools, unfortunately.