Rich Dad’s Retire Young Retire Rich Book Summary - Rich Dad’s Retire Young Retire Rich Book explained in key points
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Rich Dad’s Retire Young Retire Rich summary

Robert T. Kiyosaki

How to Get Rich Quickly and Stay Rich Forever!

4.5 (372 ratings)
22 mins
Table of Contents

    Rich Dad’s Retire Young Retire Rich
    summarized in 7 key ideas

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    Leverage is power.

    How do you transform small amounts of money into large amounts? This statement puzzled Robert Kiyosaki in the mid-1970s. Twenty years later, he was a millionaire looking forward to early retirement. He had found the solution. So, how did he do it? 

    In a word, leverage – or doing more with less. 

    This concept refers to a lever – a tool that uses a beam and pivot to harness the laws of physics, moving heavy objects with minimal force. Leverage isn’t just about heavy lifting, though; it’s one of the principles governing the world. 

    The key message here is: Leverage is power. 

    Let’s take a look at the animal kingdom, for example. Humans aren’t nearly as fast as cheetahs or as strong as bears. Unlike birds and fish, we can’t fly or survive underwater. And yet we dominate the Earth. That’s leverage.

    Cheetahs, bears, birds, and fish use the advantages nature has given them, but they don’t multiply them like humans do. On the other hand, we leverage our greatest gift – the mind – to do things our bodies can’t. We’ve built tools, like levers to move boulders or vehicles to move quickly on dry land, in the sky, and even underwater. 

    The history of innovation is a series of technological leaps that have given our species greater leverage over the natural world. And this leverage has shaped human society. 

    Around 5,000 years ago, sea merchants realized that attaching large sheets of woven flax to a pole and crossbeam allowed them to harness the wind. The wind’s force propelled their boats. Suddenly, they could do more with less. Sailing was easier and more efficient than relying on a crew of oarsmen. It was also more powerful. Vessels were now able to carry more cargo further than ever before. The merchants and statesmen who embraced this new technology prospered and built powerful empires. 

    More recent breakthroughs follow the same pattern. Today, entire fleets of container ships can be dispatched to any port in the world at the click of a button. Entrepreneurs who recognized how to harness the internet early on to make this possible are among the richest people to have ever lived. 

    These blinks aren’t about technology, though. They’re about the ideas and strategies that will give you financial leverage to do more with your money. 

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    What is Rich Dad’s Retire Young Retire Rich about?

    Rich Dad’s Retire Young Retire Rich (2012) unpacks entrepreneur Robert Kiyosaki’s unique approach to personal finance. If you want to get rich, he argues, you need to understand how to leverage your mind, plan, and actions. Whether it’s cultivating simple habits conducive to success or using debt to buy income-generating assets, Kiyosaki demonstrates that making money is easier than you might think.

    Best quote from Rich Dad’s Retire Young Retire Rich

    Most people retire poor simply because they never know what it feels like to have passive or portfolio income actually in their lives.

    —Robert T. Kiyosaki
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    Who should read Rich Dad’s Retire Young Retire Rich?

    • Self-starters and go-getters
    • Employees fed up with the nine-to-five grind
    • Would-be real estate tycoons

    About the Author

    Robert T. Kiyosaki is an investor, entrepreneur, and best-selling author of the Rich Dad franchise. Kiyosaki studied in New York before serving as a Marine gunship pilot in the Vietnam War. He founded his first company selling Velcro surfer wallets in 1977. In 1985, he established an international education company to teach investing to students around the world. Kiyosaki sold his business empire and retired in 1994 at the age of just 47.

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