Author: Robert T. Kiyosaki
Genre: Personal Finance, Self-Help
Summary:
“Rich Dad Poor Dad” is a personal finance book that contrasts two different perspectives on money and investing that the author learned from his two father figures: his own biological father (Poor Dad) and the father of his best friend (Rich Dad).
- Poor Dad represents traditional thinking about money — emphasizing formal education, working hard for a paycheck, and valuing job security.
- Rich Dad offers a different mindset focused on financial education, investing, entrepreneurship, and making money work for you.
Key Concepts:
- The Importance of Financial Education:
The book stresses that schools don’t teach how to manage money and that financial literacy is crucial to building wealth. - Assets vs. Liabilities:
Kiyosaki defines assets as things that put money into your pocket (like investments or rental properties) and liabilities as things that take money out (like expensive cars or loans). He encourages buying assets to increase passive income. - Mindset and Taking Risks:
The “Rich Dad” mindset encourages thinking differently about money, being willing to take calculated risks, and learning from failures. - Work to Learn, Not Just to Earn:
The author suggests gaining diverse skills rather than focusing only on salary or job titles. - Make Money Work for You:
Instead of working for money, the wealthy make money work for them by investing and creating passive income streams.
