<ul><li class="ql-align-justify">Kiyosaki talks about how rich people use businesses to keep and grow their money.</li><li class="ql-align-justify">Wealthy people can legally pay less in taxes than people who get paid wages because corporations offer tax benefits.</li><li class="ql-align-justify">He emphasises how important it is to understand these legal frameworks and make the most of them.</li></ul>

5. The Power of Corporations

<ul><li class="ql-align-justify">There are a lot of people who work hard their whole lives but end up stuck in the "rat race"—working to pay their bills with little or no insurance.</li><li class="ql-align-justify">Kiyosaki says that breaking out of this loop means putting money to work for you instead of working for it.  </li></ul>

4. The Rat Race

“The lack of money is the root of all evil.”This quote challenges the conventional wisdom, suggesting that financial ignorance is the real problem, not money itself.

<ul><li class="ql-align-justify">Kiyosaki advises young people to seek jobs where they can learn valuable skills, not just earn a paycheck. </li><li class="ql-align-justify">He emphasizes the importance of developing skills in sales, marketing, communication, and investing—skills that will pay off in the long run.</li></ul>

7. Work to Learn, Not to Earn

“The rich don't work for money, they make money work for them.”

<ul><li class="ql-align-justify">Kiyosaki was told by Rich Dad to think of things in terms of abundance and opportunity.</li><li class="ql-align-justify">Rich Dad taught that fear of losing money should be managed by education and calculated risks, not avoided altogether.</li></ul>

6. Mindset and Belief Systems

<ul><li class="ql-align-justify">Kiyosaki highlights that knowledge alone isn't enough—taking action is crucial.  </li><li class="ql-align-justify">He encourages readers to start small, take calculated risks, and learn from their mistakes.  </li></ul>

8. The Importance of Taking Action

"The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth."This quote shows how important it is to learn about money and have a good attitude about it if you want to be financially successful.

<ul><li class="ql-align-justify">One main idea of the book is how important it is to know the difference between assets and debts.</li><li class="ql-align-justify">Things that you own give you money.</li><li class="ql-align-justify">It costs money to have liabilities.</li><li class="ql-align-justify">Kiyosaki learnt from Rich Dad that the best way to make money is to focus on building assets like real estate, stocks, and businesses while minimising expenses. </li></ul>

3. Assets vs. Liabilities

<ul><li class="ql-align-justify">Rich Dad taught Kiyosaki the importance of giving back.  </li><li class="ql-align-justify">He believed that true wealth includes not just financial success, but also the ability to help others and contribute to society.  </li></ul>

10. The Value of Generosity

<ul><li class="ql-align-justify">Kiyosaki highlights the importance of seeking out mentors who have successfully achieved what you aspire to.  </li><li class="ql-align-justify">Learning from others' experiences can accelerate your financial education and help you avoid common pitfalls.</li></ul>

9. The Role of Mentorship

“The only difference between a rich person and a poor person is what they do in their spare time.”

“The primary difference between a rich person and a poor person is how they manage fear.”

<ul><li class="ql-align-justify">Kiyosaki says that so many people have money problems because schools don't teach students how to handle money.</li><li class="ql-align-justify">In terms of money, he says that people should learn about taxes, stocks, and how money works independently.  </li></ul>

2. The Importance of Financial Education

<ul><li class="ql-align-justify">Robert Kiyosaki's real dad (Poor Dad) and his best friend's dad (Rich Dad) were important to him.</li><li class="ql-align-justify">Dad had a lot of education and worked hard all his life, but he always had money problems.</li><li class="ql-align-justify">On the other hand, Rich Dad didn't go to school much but became a great businessman and investor who made a lot of money.  </li><li class="ql-align-justify">What makes them different is how they think about money and investment.</li></ul>

1. The Two Dads

"Rich Dad Poor Dad" explains the financial lessons Robert Kiyosaki learned from his two father figures, emphasizing the importance of financial education and smart investing.

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

Discover the world of business and economics.

economics

Economics

personaldevelopment

Personal Development

moneyandinvestments

Money & Investments

habits

Habits

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

3. Assets vs. Liabilities

Similar ideas to 3. Assets vs. Liabilities

Assets vs. Liabilities:

Net Worth = Assets - Liabilities

Key lessons for becoming a "Rich Dad"