Rich Dad Poor Dad book reviews

"Rich Dad Poor Dad" is a personal finance classic that compares two father figures in Robert Kiyosaki's life:

His biological father (Poor Dad) – educated, hardworking, but financially insecure.

His best friend’s father (Rich Dad) – not highly educated, but financially wise and wealthy.

Through the contrasting teachings of these two "dads", Robert learns key lessons about money, wealth, mindset, and success.

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🧠 1. The Importance of Financial Education

Poor Dad believed:

> "Go to school, get good grades, and find a secure job."

Rich Dad taught:

> "Learn how money works, and make money work for you."

The core idea is that schools teach academic and professional skills, but not financial literacy. According to Robert, this gap keeps many people poor or stuck in the rat race.

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💸 2. The Rich Don’t Work for Money

Poor Dad worked hard for a paycheck.

Rich Dad taught that working only for money makes you a slave to your job.

Instead:

The rich build assets that generate passive income (e.g. real estate, stocks, businesses).

The poor and middle class often buy liabilities, thinking they are assets (like big homes or new cars).

Key Quote:

> “The poor and the middle class work for money. The rich have money work for them.”

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🏠 3. Know the Difference Between Assets and Liabilities

This is one of the most important lessons in the book.

Assets: Put money in your pocket.

Example: Rental property, stocks, business.

Liabilities: Take money out of your pocket.

Example: Car loans, mortgages, credit card debt.

Rich people focus on buying assets, while poor people often accumulate liabilities, thinking they’re investing.

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🧾 4. Mind Your Own Business

Rich Dad encouraged Robert to build his own business, even while working for others.

This doesn’t mean you must quit your job immediately, but you should:

Start a side hustle.

Build passive income streams.

Invest in your own assets.

Lesson: Don't just climb the corporate ladder—own the ladder.

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📚 5. The Power of Financial Education

You don’t need to be a math genius. You just need to:

Understand basic accounting (know what’s an asset/liability).

Learn how to invest wisely.

Recognize opportunities.

Rich Dad emphasized continuous learning:

> “The single most powerful asset we all have is our mind. If trained well, it can create enormous wealth.”

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🐀 6. Escape the Rat Race

The rat race is the endless cycle of:

1. Earning a salary

2. Paying bills

3. Getting into debt

4. Repeating it every month

Rich Dad taught that you must break this cycle by:

Creating passive income

Spending less than you earn

Investing wisely

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📉 7. Overcoming Fear, Laziness, and Doubt

Kiyosaki says:

Fear keeps people in jobs they hate.

Laziness makes people ignore opportunities.

Doubt stops people from taking action.

Rich Dad taught Robert to be bold, to learn from failure, and to use fear as motivation, not limitation.

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💡 8. Work to Learn – Don’t Work Just for Money

Rich Dad advised Robert to take jobs for what he could learn, not earn.

Skills to develop:

Sales

Communication

Leadership

Marketing

These make you more valuable and better prepared to run your own ventures.

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💬 Final Thoughts

"Rich Dad Poor Dad" is not about quick wealth. It’s about:

Changing your mindset

Learning how to build and grow wealth

Taking responsibility for your financial future

Key Takeaway:

> “It’s not how much money you make. It’s how much money you keep.”

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✅ Main Lessons Recap:

Lesson Summary

1. Rich don’t work for money They build assets that earn for them

2. Buy assets, not liabilities Know the difference

3. Be financially educated Learn about money

4. Escape the rat race Build passive income

5. Face fears Take risks and learn from failure

6. Mind your business Don’t rely only on a job

7. Learn valuable skills Work to grow, not just earn

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