Rich Dad, Poor Dad Book Summary - Rich Dad, Poor Dad Book explained in key points
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Rich Dad, Poor Dad summary

What the Rich Teach Their Kids about Money – That the Poor and the Middle Class Do Not!

4.6 (5807 ratings)
29 mins

Brief summary

Rich Dad, Poor Dad by Robert T. Kiyosaki is a personal finance book that emphasizes the importance of financial education, teaches how to make money work for you, and challenges traditional beliefs about money.

Table of Contents

    Rich Dad, Poor Dad
    Summary of 9 key ideas

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    Key idea 1 of 9

    Rich people don’t work for money

    Before we get to the famous financial lessons, we’re going tell you a story. The story of 9-year old Robert Kiyosaki. 

    It begins in the 1950’s. Robert and his friend Mike were curious boys with big ambitions: When they grew up, they wanted to become rich and make a lot of money. But just how they were going to accomplish that they didn’t actually know. So, after a failed attempt to produce coins from melted toothpaste tubes, the boys decided to get some advice. They asked their dads how they could start becoming rich.

    You might be able to guess what Robert’s own well-educated but “poor dad” replied: “Go to school, study, and find a good job.” It’s familiar advice – but it’s pretty misguided. 

    If you follow guidance like this, you’ll spend your entire life breaking your back to increase your pay, while others – the government, bill collectors, and your bosses – take most of the reward.

    In other words, Robert’s poor dad might as well have said, “Go and join the rat race, the endless routine of working for everyone but yourself.” 

    Now, lots of people still follow poor dad’s mantra – but many do it out of a sense of fear, a powerful sense of distress at the idea of violating the expectations that society drills into us. A good job is what leads to wealth, we’re told, so we study hard as kids and work even harder as adults. The result? We may be avoiding poverty, but we’re certainly not growing any wealthier.

    But there are some people who don’t teach that mantra to their kids – people who know how money is created, increased and maintained. Rich people, in other words – people like Mike’s father, the rich dad who became a financial mentor to both boys. 

    So what did Mike’s dad suggest? At first, nothing. He made a deal with the young Kiyosaki, offering to teach him what he knew about money if the boy would work for him at the measly rate of 10 cents an hour. 

    Robert agreed – but after a few weeks of being underpaid, the boy returned to his “rich” dad,  seething with anger and ready to quit. “You’ve exploited me long enough,” he said, “and you haven’t even kept your promise. You taught me nothing about money in all those weeks!” 

    But there it was: his first lesson, delivered by his new mentor with a slight smile. Robert Kiyosaki had just learned that life often pushes you around. And he’d learned that working for money does not make you rich. Which is why: Rich people don’t work for money. So you might ask yourself: if the rich don’t work for money, then how do they get wealthy? Through theft, maybe, or by winning the lotto?

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    What is Rich Dad, Poor Dad about?

    Combining autobiography and personal advice, Rich Dad, Poor Dad (1997) outlines how you can become financially independent and wealthy. The author argues that what he teaches in this New York Times best seller are things we’re never taught in society, and that what the upper-class passes on to its children is the necessary knowledge for getting (and staying) rich. As evidence to support his claims, he cites his highly successful career as an investor and his retirement at the early age of 47.

    A note to readers: this Blink was redone especially for audio. This is the reason why the text version might differ from the audio version. If you’re trying to decide whether to listen or to read, we highly recommend listening!

    Rich Dad, Poor Dad Review

    Rich Dad, Poor Dad (1997) is a thought-provoking book that challenges the traditional mindset around wealth and financial success. Here's why this book is worth reading:

    • It provides eye-opening insights into the difference between the rich and the poor, offering valuable lessons on how to build wealth and achieve financial independence.
    • With its compelling storytelling and personal experiences, the book keeps readers engaged and motivated, encouraging them to think differently about money and investing.
    • Through its practical advice and actionable steps, the book empowers readers to take control of their financial future and make informed decisions to create wealth.

    Best quote from Rich Dad, Poor Dad

    Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.

    —Robert T. Kiyosaki
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    Who should read Rich Dad, Poor Dad?

    • Anyone looking to get out of the rat race
    • Anyone interested in learning how the rich get rich
    • Anyone wondering how to approach investing

    About the Author

    Robert Kiyosaki is an investor and entrepreneur with an estimated net worth of over $80 million. His Rich Dad brand has published more than 15 financial self-help books, which have sold over 26 million copies worldwide.

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    Rich Dad, Poor Dad FAQs 

    What is the main message of Rich Dad, Poor Dad?

    The main message of Rich Dad, Poor Dad is to challenge the traditional mindset about money and wealth.

    How long does it take to read Rich Dad, Poor Dad?

    The reading time for Rich Dad, Poor Dad varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.

    Is Rich Dad, Poor Dad a good book? Is it worth reading?

    Rich Dad, Poor Dad is worth reading for its valuable insights on financial education and mindset. It offers practical guidance for achieving financial independence.

    Who is the author of Rich Dad, Poor Dad?

    The author of Rich Dad, Poor Dad is Robert T. Kiyosaki.

    What to read after Rich Dad, Poor Dad?

    If you're wondering what to read next after Rich Dad, Poor Dad, here are some recommendations we suggest:
    • Think and Grow Rich by Napoleon Hill
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    • The 7 Habits of Highly Effective People by Stephen R. Covey
    • 12 Rules For Life by Jordan B. Peterson
    • The 4-Hour Body by Tim Ferriss
    • The Psychology of Money by Morgan Housel
    • Rich Dad’s Retire Young Retire Rich by Robert T. Kiyosaki
    • 13 Things Mentally Strong People Don't Do by Amy Morin
    • Atomic Habits by James Clear
    • The 48 Laws of Power by Robert Greene