Summary of Rich Dad Poor Dad by Robert Kiyosaki

Summary of Rich Dad Poor Dad by Robert Kiyosaki

How to manage money is very well explained in the book Rich Dad Poor Dad written by Robert T. Kiyosaki. The book "Rich Dad Poor Dad" - What do rich people and poor people teach their children about money? Complete information about this is summarized in this article. You can also download Rich Dad Poor Dad in PDF.

Every person wants to become rich. Everyone dreams that they should have a lot of wealth, expensive cars, bungalows, and expensive clothes.

Everyone sees this dream, but very few people can fulfill their dreams. It's not that people don't work hard. Of course, they work hard, but people do not know how to manage money. Because of this people's dreams of becoming rich are not fulfilled.

This thing has been put in our mind since childhood, if you study well, and bring good marks then you will get a good job in the future. And you will earn a lot of money. But many people in our country Nepal are highly educated, and despite having good jobs, they are not financially strong.

On the other hand, some people have neither studied well, nor worked under anyone, yet they are at the forefront of the count of rich people. The best example of this is Dhirubhai Ambani of India.

That is, we can say that no person can become poor and rich only based on education and jobs. For this, you need to understand financial management. Let us explain this Finance Management to all of you from the summary of the book Rich Dad Poor Dad written by Robert Kiyosaki.

Rich Dad Poor Dad Book's Summary

Robert T Kiyosaki has two fathers, one of whom is rich and one is poor. Now you will think how he has two fathers? One is his own poor father. And the other father was his best friend's father. Whom Robert considered his second father. One poor father is very educated and his other father who is rich has not even completed his schooling. Both had worked very hard in their life and both had also achieved success in their field. Their opinion about money was also completely different.

We understand this with the help of some points.

1. Thinking

Robert Kiyoski's first father believed that he could not buy anything, while the second father was irritated by this. The other father would always tell Robert to think about how you can buy something.

His first father's thinking is negative. On the other hand, the thinking of the other father is questionable. Negative thinking ends the matter right there. Whereas interrogative thinking makes us think about how we can achieve something.

When a person thinks in his mind that he cannot buy something, then his brain also stops working. But when a person questions his mind, his mind starts working. The mind starts looking for answers to questions.

This means that keep the mind away from negative things and let the mind do its work, this will keep the mind active and gradually become strong.

2. Risk

Robert's first father believed that you should not take risks. You study well, get good marks, and do a safe and secure job. On the other hand, Robert's other father used to teach him how to manage risk. Study and put your money to work.

3. Knowing the difference between an asset and a liability

We should have full knowledge of our assets and our liabilities. Wealth increases with wealth. Liability leads to loss of money or money.

If you want to be rich then you buy assets (land, bonds, share investments) and if you want to remain poor then you buy liabilities (furniture taken on loan, car, luxury products). Now do not get confused by looking at the liability, if you buy furniture or a car, then you will not get any kind of income from it.

4. First of all pay yourself

Robert's second father explained to Robert that first of all, you should keep a part of your earnings for yourself. And with that money buy yourself a property that will give you income.

5. Learning from mistakes

Both fathers of Robert, they had taught him that if you make a mistake once, do not repeat that mistake again. Rather learn from him and move forward in your life.

6. Work for money

Robert's rich father believed that we should not work for money. It means one should not run after money, rather money should be made to work for us. At the same time, Robert's other father used to pressure Robert to earn money.

7. Identifying the spot

Everyone should know how to identify the right opportunity, if you are not able to identify the right opportunity then you can never become rich.

Example: A man was passing through a road, and there was a board in front of some house on which was written "House for sale". There was a recession going on at that time. But the man does not let this opportunity pass his hand without panic and buys a decent house for a very low price. After a few days, the recession is over, now he sells that house at double the price.

8. Having the understanding to save money 

Although everyone saves money, saving here does not mean keeping your money in your cupboard or piggy bank. Saving here means investing your money in such a place that continues income. At the same time, keep in mind that money should not be spent in such a place that there is no income.

It doesn't matter how much money you are earning, it does matter where and how you spend that money.

Read Also: Summary of Think and Grow Rich


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Anish Kumar Tiwari

I am Anish Kumar Tiwari, founder of this blog. I can write very well on any topics and I like to share information on different topics through my blog. Thank you for visiting my blog.

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