Learn the key ideas of the book by Robert T. Kiyosaki

Rich Dad Poor Dad

Why financial education is more important than money

Rich Dad Poor Dad takes us on a long journey that will change the way we think about money. The author, Robert Toru Kiyosaki, who grew up with two Dads, one rich and one poor, shares the two very different ways of thinking that they each have about money. Rich Dad Poor Dad will help us to establish a new relationship with our finances, where we will get rid of common misconceptions, acquire a new point of view about wealth and poverty and clearly understand the difference between assets and liabilities. This is one of the great classics on financial success.

Rich Dad Poor Dad
Read in 14 min.
Listen in 18 min.

Many useful tips to:

  • Gain a new perspective on the management and improvement of your personal finances.
  • Understand any possible errors in the way you think about wealth or poverty.
  • Improve your relationship with money.

The author of the book:

Robert Toru Kiyosaki is an American investor, a businessman, a motivational speaker and author who works in aid of financial literacy. He is an entrepreneur born and raised in Hawaii; and currently lives with his wife (a real estate investor) in Phoenix, Arizona. After he graduated in New York, Kiyosaki became a Marine and was a helicopter pilot in the Vietnam war. After the war, he worked for the Xerox Corporation for five years. In 1977 he created his first company. In 1985, he founded an international financial training company, which he then sold in 1994, the year in which he published his best selling book, Rich Dad, Poor Dad, and he created the educational game Cashflow.

IDEA CHIAVE 1/9

Two fathers and two different educations on money

My poor father, who is also my real father, excelled in his studies, he has a degree and is a professor but has always had financial problems. He used to say that the love of money is the root of all evil, that money is not important; and he would often say: “I can’t afford it”. He encouraged me to study hard so I could be hired by a good company and avoid financial risk. He felt poor and he said it often.

My rich father, who is my friend’s dad, never finished high school. He became one of the richest men in Hawaii. He used to say that a lack of money was the base of all evil and that money was power. He forbade me from saying that I couldn’t afford something and urged me to ask myself: “How can I afford it?”. He encouraged me to study hard to find a good company to buy, learning to manage risk. If he went through dark times he said he was broke, because he thought it was a temporary condition and not a permanent state.

Both men were strong, charismatic and people listened to them, they were successful in their jobs, which they always worked hard at. However, the advice that they each gave me about money differed significantly.

Having two dads made me reflect, without rejecting their ideas on principle, but trying to ascertain which advice was the best for me. The problem is that financial education is not a school subject, there is no such subject as “money”. Money is a form of power, but what is even more powerful is financial education. I have learned six lessons about money which I am going to illustrate in this book.

  

The key ideas of "Rich Dad Poor Dad"

01.
Two fathers and two different educations on money
02.
Rich people don’t work for money
03.
Why is it important to teach financial ABC
04.
Take care of your business by keeping an eye on the asset column
05.
The history of taxes and corporate power
06.
What is financial intelligence?
07.
Understanding your skills, what to sell and being a leader
08.
Quotes
09.
Take-home message
 
 
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