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“Rich Dad, Poor Dad”, is one
of the best books that has shaped the financial views of many people around the
world. Robert Kiyosaki is telling the story of his two dads and what he learned
about money from them. The "rich dad" is Kiyosaki's biological father,
a highly educated college professor. The "poor dad" is Kiyosaki's
best friend's father, a wealthy entrepreneur who owns dozens of businesses.
Both dads had conflicting beliefs about money.
“One dad
recommended, “Study hard so you can find a good company to work for.” The other
recommended, “Study hard so you can find a good company to buy.”
― Robert T.
Kiyosaki, Rich Dad, Poor Dad
Below is a list
of valuable lessons the book teaches you.
#1. Make Mistakes And Learn From Them.
“People who avoid
failure also avoid success.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“In school, we
learn that mistakes are bad, and we are punished for making them. Yet, if you
look at the way humans are designed to learn, we learn by making mistakes. We
learn to walk by falling down. If we never fell down, we would never walk.”
― Robert T. Kiyosaki, 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, Rich Dad, Poor Dad
“You’re only
poor if you give up. The most important thing is that you did something. Most
people only talk and dream of getting rich. You’ve done something.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“If you’re the
kind of person who has no guts, you just give up every time life pushes you. If
you’re that kind of person, you’ll live all your life playing it safe, doing
the right things, saving yourself for something that never happens. Then, you
die a boring old man.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“There is always
risk, so learn to manage risk instead of avoiding it.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Sometimes you
win and sometimes you learn. But have fun. Most people never win because
they’re more afraid of losing.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#2. Knowledge Is Your Wealth.
“The single most
powerful asset we all have is our mind. If it is trained well, it can create
enormous wealth in what seems to be an instant.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“I am concerned
that too many people are focused too much on money and not on their greatest
wealth, which is their education. If people are prepared to be flexible, keep
an open mind and learn, they will grow richer and richer through the changes.
If they think money will solve the problems, I am afraid those people will have
a rough ride. Intelligence solves problems and produces money. Money without
financial intelligence is money soon gone.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Today, wealth
is in information. And the person who has the most timely information owns the
wealth.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“It is not much
different from a person who goes to the gym to exercise on a regular basis versus
someone who sits on the couch watching television. Proper physical exercise
increases your chances of health, and proper mental exercise increases your
chances for wealth. Laziness decreases both health and wealth.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Know a little
about a lot.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“In today’s
fast-changing world, it’s not so much what you know anymore that counts,
because often what you know is old. It is how fast you learn.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Accounting is
possibly the most confusing, boring subject in the world, but if you want to be
rich long-term, it could be the most important subject.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“I recommend to
young people to seek work for what they will learn, more than what they will
earn. Look down the road at what skills they want to acquire before choosing a
specific profession and before getting trapped in the Rat Race.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“When you know
you are ignorant in a subject, start educating yourself by finding an expert in
the field or a book on the subject.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Land was wealth
300 years ago. So the person who owned the land owned the wealth. Then, it was
factories and production, and America rose to dominance. The industrialist
owned the wealth. Today, it is information. And the person who has the most
timely information owns the wealth.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#3. Give What You Want To Receive Back.
“Whenever you
feel ‘short’ or in ‘need’ of something, give what you want first and it will
come back in buckets. That is true for money, a smile, love, friendship. I know
it is often the last thing a person may want to do, but it has always worked
for me. I just trust that the principle of reciprocity is true, and I give what
I want.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#4. Embrace Change.
“I’d rather
welcome change than cling to the past.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Life is much
like going to the gym. The most painful part is deciding to go. Once you get
past that, it’s easy.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#5. Lack Of Self-Confidence And Fear Is What’s Holding You Back.
“Excessive fear
and self-doubt that were the greatest detractors of personal genius.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“We all have
tremendous potential, and we all are blessed with gifts. Yet, the one thing
that holds all of us back is some degree of self-doubt. It is not so much the
lack of technical information that holds us back, but more the lack of
self-confidence.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“In the real
world outside of academics, something more than just grades is required. I have
heard it called "guts," "chutzpah," "balls,"
"audacity," "bravado," "cunning,"
"daring," "tenacity" and "brilliance." This
factor, whatever it is labeled, ultimately decides one's future much more than
school grades.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Just know that
it’s fear that keeps most people working at a job. The fear of not paying their
bills. The fear of being fired. The fear of not having enough money. the fear
of starting over.
That’s the price
of studying to learn a profession or trade, and then working for money. Most
people become a slave to money… and then get angry at their boss.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“It is said that
the fear of public speaking is a fear greater than death for most people. According
to psychiatrists, the fear of public speaking is caused by the fear of
ostracism, the fear of standing out, the fear of criticism, the fear of
ridicule, the fear of being an outcast. THE FEAR OF BEING DIFFERENT PREVENTS
MOST PEOPLE FROM SEEKING NEW WAYS TO SOLVE THEIR PROBLEMS.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#6. Others Aren’t To Be Blamed For Your Problems.
“If you realize
that you're the problem, then you can change yourself, learn something and grow
wiser. Don't blame other people for your problems.”
― Robert Kiyosaki, Rich Dad, Poor Dad
“Stop blaming
me, thinking I'm the problem. If you think I'm the problem, then you have to
change me. If you realize that you're the problem, then you can change
yourself, learn something and grow wiser. Most people want everyone else in the
world to change themselves. Let me tell you, it's easier to change yourself
than everyone else.”
― Robert Kiyosaki, Rich Dad, Poor Dad
“I find so many
people struggling, often working harder, simply because they cling to old
ideas. They want things to be the way they were; they resist change. I know
people who are losing their jobs or their houses, and they blame technology or
the economy or their boss. Sadly they fail to realize that they might be the
problem. Old ideas are their biggest liability. It is a liability simply
because they fail to realize that while that idea or way of doing something was
an asset yesterday, yesterday is gone.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#7. It’s Not How Much Money You Make, It’s How Much Money You Keep.
“Most people fail
to realize that in life, it’s not how much money you make, it’s how much money
you keep.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#8. Rich Is A Mindset.
“I can't afford
it' shut down your brain. it didn't have to think anymore. besides, it also brings
up sadness, a helplessness that leads to despondency and often depression.
'How can I
afford it?' opened up the brain. forced it to think and search for answers. it
also opens up possibilities, excitement, and dreams and created a stronger mind
and dynamic spirit.”
― Robert Kiyosaki, Rich Dad Poor Dad
“There is a
difference between being poor and being broke. Broke is temporary. Poor is
eternal.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Going into our
fear and confronting our greed, our weaknesses, our neediness is the way out.
And the way out is through the mind, by choosing our thoughts.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“The idea that
“it takes money to make money” is the thinking of financially unsophisticated
people. It does not mean that they’re not intelligent. They have simply not
learned the science of money making money. Money is only an idea. If you want
more money, simply change your thinking. Every self-made person started small
with an idea, and then turned it into something big. The same applies to
investing. It takes only a few dollars to start and grow it into something
big.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
#9. Rich Don’t Work For Money, They Have Money Work For Them.
“The poor and
the middle-class work for money. The rich have money work for them.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“They get up
every day and go work for money, not taking the time to ask the question, ‘Is
there another way?”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“If you work for
money, you give the power to your employer. If money works for you, you keep
the power and control it.”
― Robert T. Kiyosaki, Rich Dad Poor Dad
#10. Acquire Assets, Not Liabilities.
“Rule One. You
must know the difference between an asset and a liability, and buy assets.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“An asset is
something that puts money in my pocket. A liability is something that takes
money out of my pocket.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Rich people
acquire assets. The poor and the middle class acquire liabilities that they
think are assets.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“It’s not how
much money you make. It’s how much money you keep.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“Wealth is a
person’s ability to survive so many number of days forward — or, if I stopped
working today, how long could I survive?”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
“The single most
powerful asset we all have is our mind. If it is trained well, it can create
enormous wealth seemingly instantaneously. An untrained mind can also create
extreme poverty that can crush a family for generations.”
― Robert T. Kiyosaki, Rich Dad, Poor Dad
The book: RichDad, Poor Dad
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