Robert Kiyosaki

Rich Dad Poor Dad

April 2017 marks 20 years since Robert Kiyosaki’s Rich Dad Poor Dad first made waves in the Personal Finance arena.
It has since become the #1 Personal Finance book of all time… translated into dozens of languages and sold around the world.
Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
20 Years… 20/20 Hindsight


In the 20th Anniversary Edition of this classic, Robert offers an update on what we’ve seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers “fast forward” — from 1997 to today — as Robert assesses how the principles taught by his rich dad have stood the test of time.
In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago.
As always, readers can expect that Robert will be candid, insightful… and continue to rock more than a few boats in his retrospective.
Will there be a few surprises? Count on it.


Rich Dad Poor Dad



• Explodes the myth that you need to earn a high income to become rich
• Challenges the belief that your house is an asset
• Shows parents why they can't rely on the school system to teach their kids about money
• Defines once and for all an asset and a liability
• Teaches you what to teach your kids about money for their future financial success
343 printed pages
Original publication
2017

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Impressions

    Masha Samartsavashared an impressionlast year

    Interesting insights which are generally know. Big focus on increasing your own financial intelligence which, I agree, is not taught in schools. Important focus on the weak areas that might be stopping each individual from reaching their top level of intelligence (which applies for every aspect of our lives).

    Financial intelligence according to this book is gained through learning about finances, financial risk, investment, taxes and business law as early as possible, investing and taking risks, learning from top expert in each field (to save yourself time) and honing the skill to a higher level with each year of active experience.

    Some points stood out now that I am reading from a more European socialist environment and some ideas are definitely not as applicable but a great book to get you thinking about your own management of money and depending less on your job, state and pension for the financial freedom you want.
    Personally I took away two mains ideas:

    1) It is ok to fail and the wisest investors are those who have learned through their failures.
    2) Every month you must pay yourself first before you pay other (rent, food, taxes, etc) - was rather counterintuitive at first, but I understand it and agree with it after reading the book.

    "Invest first in education. In reality, the only real asset you have is your mind, the most powerful tool we have dominion over. "

    "Simply put, people who have low self-esteem and low tolerance for financial pressure can never be rich. As I have said, a lesson learned from my rich dad was that the world will push you around. The world pushes people around, not because other people are bullies, but because the individual lacks internal control and discipline. People who lack internal fortitude often become victims of those who have self-discipline."

    Harris Guardiansshared an impressionlast year
    💡Learnt A Lot

    Its really amazing story teach this to young students who want to be rich who wants to enter the higher air, you are not born to be poor if you are born poor, its you what you chose!

    Ana Vranjesshared an impression2 years ago
    👍Worth reading
    💡Learnt A Lot
    🎯Worthwhile

    Really pushes you to take control and learn about money in a whole different way! Challenging and inspiring

Quotes

    Akmaral Kuralbaevahas quoted3 days ago
    LESSON 2: WHY TEACH FINANCIAL LITERACY?
    b2811164410has quoted5 days ago
    Proper physical exercise increases your chances for health, and proper mental exercise increases your chances for wealth
    Merher Manuhas quoted5 days ago
    Being a product of two strong dads allowed me the luxury of observing the effects different thoughts have on one’s life. I noticed that people really do shape their lives through their thoughts.
    For example, my poor dad always said, “I’ll never be rich.” And that prophecy became reality. My rich dad, on the other hand, always referred to himself as rich. He would say things like, “I’m a rich man, and rich people don’t do this.” Even when he was flat broke after a major financial setback, he continued to refer to himself as a rich man. He would cover himself by saying, “There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”
    My poor dad would say, “I’m not interested in money,” or “Money doesn’t matter.” My rich dad always said, “Money is power.”
    The power of our thoughts may never be measured or appreciated, but it became obvious to me as a young boy that it was important to be aware of my thoughts and how I expressed myself. I noticed that my poor dad was poor, not because of the amount of money he earned, which was significant, but because of his thoughts and actions.

On the bookshelves

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