Rich Dad Poor Dad Summary
RICH DAD POOR DAD
This book basically introduces the principles of investing, and tells why investing is so important. It also introduces the fact that you need not to earn high to become rich. This book is meant for those people who don’t have or have little knowledge about finance and investment. This will help them to learn the basic rules of investing alongwith financial education.
Robert Kyosaki, the author of this book tells about his learnings from two role models, one, his own dad who is poor and other his friend’s dad, who is one of the richest people in Hawaii. The author has learnt different ways of observing things and learnt the tactics to handle such situations. Each Dad had a very different attitude and approach towards the subject of money. One ended up jobless and in debt, the other, one of the richest men in Hawaii. Robert describes, how as a small boy, he made the decision to listen to his Rich Dad who subsequently taught him how to think, act and become rich. Through amusing stories and simple diagrams he explains the six basic lessons his Rich Dad taught him about money.
Lesson 1: The Rich Don’t Work For Money
The poor and middle class work for money, but the rich make money work for them. Most people are motivated by fear of failure and rejection, not by passion for something. This controls their lifestyle and job choices. It also explains why most people want jobs that offer good job security and benefits. Poor and middle class people don’t know how to manage their money, which is why they don’t become rich. They have poor impulse control and need the reward immediately.
To be rich, you must have a highly inquisitive way of thinking that leads you to continually self-improve and to learn, especially about business and money. The vast majority of people just don’t think like this. Rich people always find ways out.
Lesson 2: Why teach financial literacy?
Author tells that to become rich, an individual needs financial literacy and he
This book basically introduces the principles of investing, and tells why investing is so important. It also introduces the fact that you need not to earn high to become rich. This book is meant for those people who don’t have or have little knowledge about finance and investment. This will help them to learn the basic rules of investing alongwith financial education.
Robert Kyosaki, the author of this book tells about his learnings from two role models, one, his own dad who is poor and other his friend’s dad, who is one of the richest people in Hawaii. The author has learnt different ways of observing things and learnt the tactics to handle such situations. Each Dad had a very different attitude and approach towards the subject of money. One ended up jobless and in debt, the other, one of the richest men in Hawaii. Robert describes, how as a small boy, he made the decision to listen to his Rich Dad who subsequently taught him how to think, act and become rich. Through amusing stories and simple diagrams he explains the six basic lessons his Rich Dad taught him about money.
Lesson 1: The Rich Don’t Work For Money
The poor and middle class work for money, but the rich make money work for them. Most people are motivated by fear of failure and rejection, not by passion for something. This controls their lifestyle and job choices. It also explains why most people want jobs that offer good job security and benefits. Poor and middle class people don’t know how to manage their money, which is why they don’t become rich. They have poor impulse control and need the reward immediately.
To be rich, you must have a highly inquisitive way of thinking that leads you to continually self-improve and to learn, especially about business and money. The vast majority of people just don’t think like this. Rich people always find ways out.
Lesson 2: Why teach financial literacy?
Author tells that to become rich, an individual needs financial literacy and he