Rich Dad Poor Dad by Robert Kiyosaki

I’ve read many books on money management, but the one that truly made a huge impact on my life and taught me everything about money is Rich Dad Poor Dad by Robert Kiyosaki.

By the way, I started earning at 22 with my first website, and about a year later, I began my investment journey in the Indian Stock Market.

Now, I’m not saying you should invest in the stock market, but what I am saying is that you should invest your money somewhere it can work for you, even while you sleep. And how to do that is exactly what Rich Dad Poor Dad will teach you.

One of my favorite quotes from the book: “Learn to use your emotions to think, don’t think with your emotions.”

Rich Dad Poor Dad Summary

Rich Dad Poor Dad is all about money management, but the best part of the book is how simply the author explains money. Even if you’re not good with numbers, this book will teach you how to make your money work for you.

We all know the difference between needs and wants, but when we have money in hand, we often forget about it. Most of the time, we let our feelings make the purchase.

So, if you’re one of those people, I highly recommend reading Rich Dad Poor Dad. It will definitely make you realize where you’re wasting and overspending.

It’s one of my favorite books, and I’ve gifted it to many of my friends. Friend to friend—just read it. You’ll understand the value of investing, time, and money.

Story of Rich Dad Poor Dad

Robert Kiyosaki tells the story of two fathers, one rich and one poor. The reality is, neither of them was actually poor, but one was poor when it came to managing money.

Story of The POOR DAD 

Poor Dad worked hard all his life, got a job, and when he received his salary, he would buy things like a new TV or other luxuries—without thinking about saving or investing. It was always the same cycle.

Poor Dad was Robert Kiyosaki’s father. The Rich Dad, on the other hand, was his best friend’s father…

Story The RICH DAD

The rich dad was the type of person who only spent money on what he needed. He didn’t waste money on unnecessary things. Instead, he invested and kept track of where his money went.

Being an entrepreneur, he knew exactly how and where to spend money, and through this, he was able to build his wealth.

That’s the essence of the Rich Dad and Poor Dad story. What I’ve shared is just a summary—once you read the book, you’ll learn much more from both fathers’ mindsets.

Know Where to Use Money

The human brain is simple and easy to understand, but sometimes, things don’t go our way. At those moments, we might feel fear, doubt, jealousy, and much more. And during those times, we often don’t think much about the process.

Fear, doubt, and jealousy are a part of life; you just have to accept things as they are.

Some people spend money when they’re angry, others like to go outside when they’re upset.

So, the first thing you need to learn is how your mind reacts to failure, success, fear, doubt, or when you’re not making money.

For example, let’s say you bought a new phone about a year ago, and now the brand has released a new model. Now, tell me—do you want to buy a new phone, or are you happy with your current one?

Most people who use iPhones tend to buy a new one every year. What about you?

This is what Rich Dad Poor Dad teaches you—human behavior when it comes to money. How do people spend their money during different emotions?

Investing

Whatever you earn, you should invest some portion—whether it’s in the stock market, mutual funds, or even crypto.

You won’t get rich overnight, but if you invest a small amount consistently each month, after ten or twenty years, you’ll truly understand the power of investment. The key is to remain consistent with your monthly investments.

Invest a certain amount each month, one that feels comfortable, and then forget about it.

In the end, it’s up to you whether or not to invest your money, but this is just advice from the book.

By the way, I recently read The Compound Effect by Darren Hardy. It’s all about the power of small, consistent actions over time. If you want to understand the real power of long-term investment, make sure to check it out!

Rich Dad Poor Dad Quotes

“If you realize that you’re the problem, then you can change yourself, learn something, and grow wiser. Don’t blame other people for your problems.”

“It is said that the fear of public speaking is a fear greater than death for most people. According to psychiatrists, the fear of public speaking is caused by the fear of ostracism, the fear of standing out, the fear of criticism, the fear of ridicule, the fear of being an outcast. THE FEAR OF BEING DIFFERENT PREVENTS MOST PEOPLE FROM SEEKING NEW WAYS TO SOLVE THEIR PROBLEMS.”

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”

“Excessive fear and self-doubt that were the greatest detractors of personal genius.”

“An intelligent person hires people who are more intelligent than he is.”

“People who avoid failure also avoid success.”

“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth seemingly instantaneously. An untrained mind can also create extreme poverty that can crush a family for generations.”

“But that is not how life teaches you, and I would say that life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying, ‘Wake up. There’s something I want you to learn.”

“Sometimes you win and sometimes you learn.”

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