Rich dad poor dad summary | Robert Kiyosaki | Robert Kiyosaki quotes |

Robert Kiyosaki.
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Robert Kiyosaki is an American author and businessman. He was born on 8th of April 1947. His book Rich dad poor dad is very famous and tells people how to become rich. Today In this post I will share here few of his quotes and also try to summarize this book Rich dad poor dad.

Robert Kiyosaki Quotes

"Don't let the fear of losing be greater than the excitement of winning." - Robert Kiyosaki.

"Face your fears and doubts, and new world will open to you."- Robert Kiyosaki.

"In real world, the smartest people are people who make mistakes and learn. In school, the smartest people don't make mistakes."- Robert Kiyosaki.

"It's not what you say out of your mouth determines your life, it's what you whisper to yourself that has most power."- Robert Kiyosaki.

"Never say you cannot afford something. That is poor man's attitude. Ask how to afford it." - Robert Kiyosaki.

Rich dad poor dad summary.

Robert had two dads. One had a PhD while the other had only finished eighth grade.  His dad with PhD degree was poor while his dad who had finished only eighth grade was rich. Poor dad always struggled for living while rich dad was on his way to becoming one of the richest men in Hawaii.  In this book Rich Dad Poor Dad, Robert teaches you how to become rich. He has given some principles by looking at both his Rich Dad and Poor Dad. If you want to be rich, you should definitely look into these principles.

The rich don't work for money; they make money work for them.

Let's look at Richard, Richard is a hardworking guy, he spends every hour every day working for money. But he’s really mad at life and can't understand why he can never seem to get ahead. Despite of working so hard he never has enough money left with him. Most of us are like Richard, working all day all night but at the end have nothing left with us. Now let’s look at Peter, Peter makes the same amount of money as Richard but he spends most of his time looking for assets to add to his collection. Initially, both of these guys make the same amount of money.  Richard trades his time for money while Peter gets his money from assets.  At the end Peter has more money than Richard.

The point is, rich don't trade their time for money.  They acquire assets to make money for them.   I've seen lot of people tell me that they're not interested in money but yet work a job for eight hours a day trying to get more of it.  Actually, we are controlled by fear and desires which can lead us into life's biggest trap and be like Richard, always working hard but not having anything at the end.

Financial literacy.

We are never taught about money and finances in schools. It's because people think wanting more money is bad. If you want to get rich it's not about how much money you make it's about how much money you keep. An intelligent person makes money by solving problems but money without intelligence is money soon gone.  Rich people acquire assets. The poor and the middle class acquire liabilities which they think are assets to them.  You must understand the difference between a liability and an asset.  All you have to know is that, assets puts money into your pocket whereas liabilities take money out of your pocket. This is the only thing you will ever need to know if you want to become rich.  A lack of this financial knowledge is a number one reason why the rich get richer and the poor get poorer.

Mind your own business.

To sum this principle, the book is telling you that the rich focus on their assets while everyone else focuses on their income statements.  To follow this principle you need to build and maintain a strong group of assets. An asset might be a piece of real estate, stock, your websites, intellectual properties or anything that produces positive cash flow for you every single month.

The power of corporations.

Corporations are one of the biggest secrets of the rich.  They serve as a smarter way to play the game of rich.  The rich use corporations to take advantage of legal tax loopholes and protect their money.  If you own a business and make a decent amount of money, you need to consider setting up a corporation to get rich.

The book says that you need to train your financial IQ. Financial IQ which is comprised of your knowledge across several broad subjects.  To increase your financial IQ you must increase your knowledge in the areas of accounting and investing and laws. Your financial IQ is a synergy of all of the skills and talents combined.

The rich invent money.

Rich sees opportunities to invent money. Remember great opportunities are not seen with your eyes, they are seen with your mind.  The single most powerful asset you have is your mind and if trained well it can create enormous wealth for you.  Another important point from the book is that in the real world, it is not the smart that get ahead but the bold. This means that the bold is a risk taker, who tends to make the most financial progress even if they're not as smart as others.

Work to learn don't work for money.

Rich people work to learn, and not work for job security. If you want to get rich you should know a little about a lot of subjects.  Focusing only on a job will prevent you from becoming truly wealthy.

Overcoming obstacles.

The primary difference between a rich person and a poor person is how they manage fear even if you have an excellent financial IQ .There are a few major obstacles that will hold you back from becoming rich, these obstacles are fear, cynicism, laziness, bad habits and arrogance.

Robert Kiyosaki said every time I've been arrogant I've lost money because I believe that what I didn't know wasn't important. Don't let arrogance steal your money.