Rich Dad Poor Dad Summary: God of Finance Books
I have read many books on money management but the one that 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 when I was 22 years old from my first website, and after about a year, I started my investment journey on the Indian Stock Market.
Here I’m not saying that you should invest in the stock market but what I’m saying is, you should invest your money somewhere where you earn money while sleeping.
Now, how you can earn money while sleeping is what Rich Dad Poor Dad will teach you, so explore the book…
Favorite quote from the book: “Learn to use your emotions to think, don’t think with your emotions.”
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Story of Rich Dad Poor Dad
Robert Kiyosaki tells the story of two fathers, one rich, and one poor. In no way, any of the fathers were poor but one of them was poor in terms of money management.
The POOR DAD
Poor dad worked hard throughout his life and got a job and after that, he didn’t manage his money. Whenever he got his salary, he bought a new TV or something else, and again, the same thing.
He never saved money or invested money.
The poor dad was the father of Robert Kiyosaki. The rich dad was the friend of Robert Kiyosaki’s father…
The RICH DAD
The rich dad was the kind of person who spends money on needs, he doesn’t spend money on unnecessary things. He invests his money and keep track of the money he spends.
He was an entrepreneur, so he knew where and how to spend money, and because of his entrepreneurship, he managed to create wealth.
That is the whole story of the Rich Dad and Poor Dad but here, I have only given you a summary, once you start reading it, you will learn more from both fathers’ mindsets…
Know Where to Use Money
The human brain is very simple and easy to understand but sometimes, things didn’t go in our favor and at that moment we might fear, have doubts, jealousy, and much more, and at that time, we don’t think too much about the process.
Fear, doubts, and jealousy are part of our life, you just have to accept things as it is.
But Some people like to spend money when there’s angry and some people like to go outside when they’re angry.
So the first thing you need to learn is, understand how your mind reacts when there is failure, success, fear, doubts or when you’re not making money.
For example, let’s say, you bought a new phone about a year ago and now the mobile brand has launched a new smartphone, now you tell me, do you want to buy a new phone or you’re happy with your current smartphone?
Most of the people who use the iPhone tend to buy a new iPhone every year, what about you?
This is what, the rich dad and poor dad will teach you, human behavior about money. How humans spend their money during all the emotions.
Whatever you earn, you should invest some amount whether it’s in the stock market, mutual funds, or even in crypto.
You won’t get rich overnight but if you invest your money every month then after ten or twenty years, you will know the power of an investment. The only thing you have to do is, consistent with your monthly investment.
Invest a certain amount of money every month where you feel good and forget about that money.
By the way, I have recently shared a book summary of the COMPOUND EFFECT BOOK, so make sure you read it to understand how COMPOUND EFFECT works.
Rich Dad Poor Dad Review
Now, I don’t want to make this article too long, so if you haven’t read Rich dad and poor bad then go read it, you will learn a lot from Robert Kiyosaki about finance.
It’s one of my favorite books and I have gifted this book to many of my friends, so friend to friend, just read the book and you will understand the value of investing, time, and even money.
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Very detailed and well written review 👍🏻