End of Week 72: Book 71 Completed: Rich Dad, Poor Dad – Robert Kiyosaki
Robert Kiyosaki shares unconventional yet powerful perspective to look at money, how it works, and we must make it work for us, rather than working for it, if we ever want to attain financial well-being.
Robert shares what he learnt from his two dads about money, One Rich (His friend’s dad) and One Poor (His real dad). Though both were successful in their respective work, one flourished financially and one struggled.
Although both men had tremendous respect for education and learning, they disagreed about what they thought was important to learn.
Robert claims one of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school.
Few 🔑 Points –
• People’s lives are forever controlled by two emotions: fear and greed. The fear of not having enough money to survive, and once they have money, greed, desires take over and keep the person trapped in rat race. Get up, go to work, pay the bills.
• Robert’s Definition of Asset & Liability: An asset puts money in my pocket. A liability takes money out of my pocket. Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
• Mind Your Own Business -He suggests to build and keep asset column strong. Once a dollar goes into it, never let it come out. Think of it this way: Once a dollar goes into your asset column, it becomes your employee. Keep your day job, be a great hardworking employee, but keep building that asset column.
• The key to becoming wealthy is the ability to convert earned income into passive income or portfolio income as quickly as possible.
Few 📌 Quotes –
1. The talented poor people struggle financially or earn less than they are capable of, not because of what they know, but because of what they do not know.
2. Most people want everyone else in the world to change but themselves, whereas, it’s easier to change ourselves than everyone else.
3. As proper physical exercise increases your chances for health, and so, proper mental exercise increases your chances for wealth.
4. An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.












