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Jun 07, 2011 Other people’s money (OPM) is a fundamental concept of Rich Dad and a sign of high financial intelligence. By using both good debt and OPM, you can dramatically increase your Return on Investment (ROI)—and you can even achieve infinite returns. Jeffy's Dad becomes RICH! Rich Dad Poor Dad Letter is the newsletter of one of the greatest financial educators in recent history. Kiyosaki has changed the way millions of Americans look at money And now he is taking his teaching method and applying it to real-world situations to give you actionable solutions to bigger financial problems. Every month, Robert and his team will send you their take on a.

Updated August 23, 2020

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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. Rich dad said, “A business needs both a spiritual and a business mission to be successful, especially at the beginning.” Rich dad chose the words “spiritual” and “business.” He said.

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Rich Dad Poor Dad” is a financial self-help book that helps you set the right relationship with money and wealth.

As Robert Kiyosaki (the author of this book) correctly mentions: –

“Most people never study the subject money. They go to work, get their paycheck, balance their checkbooks, and that’s it. On top of that, they wonder why they have money problems.”

The problems exist because these people lack the basics of financial education. Education that is not imparted in our schools.

If you really want to improve your outlook towards money, pick this book and read it cover to cover.

Doesn’t matter whether you are 25 or 52, this book has something for everyone.

I first read Rich Dad Poor Dad book when I was 20 years old and I owe my financial discipline and healthy financial habits to this one single book.

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Rich Dad Poor Dad Summary

In this book, Robert Kiyosaki talks about his two dads; one is his biological father and other is the father of his friend Mike.

Robert’s father holds a PhD degree and goes to a 9-5 job. In Robert’s eyes, his own father is an epitome of a poor man; one who spends his entire life dependent on single source of income.

Contrary, his friend’s father happens to be a college dropout. However, he is always open to opportunities, has multiple sources of income and makes the money work for him (instead of working for the money). This personality epitomises the rich person for Robert.

However, that doesn’t mean that Kiyosaki frowns upon college education and is suggesting you to drop out. His only point is that formal education only teaches us how to make money but not how to manage and grow it.

The Rich Dad Poor Dad book draws out from the financial wisdom that Robert received from his “Rich Dad” and from his “Poor Dad”.

Rich Dad Poor Dad Review

This book emphasises the importance of passive income and making money work for you instead of you working for money.

Right from the beginning, the book succeeds in captivating the reader.

That’s because it’s written from the perspective of a middle-class person and how he sees the rich people around him.

If you are from the same middle-class socio-economic background, you can’t help but getting glued to this book.

Robert strongly believes that our education system does not teach us financial literacy.

We are never ever taught about investments and how to generate income from our assets.

Rich Dad Poor Dad

Majority of the people are trained to work for someone throughout their life and adopt contentment.

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Challenging the stereotypes

This book will help you debunk your most common notions related to money and wealth.

For example, consider the following excerpt

Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth. Click To Tweet

This book does excellent work in challenging your thinking about how to make your money work for you.

Few Rich Dad Poor Dad quotes that deeply inspire me are:

  • Rich people invest in assets while middle class acquire liabilities. And they spend their life in a myth that they have an asset. E.g. A house is never an asset as long as you are living in it. Only if you buy a property and rent it out, it is your asset.
  • How much money you keep with yourself does not matter at all. What matters is how you are making this money grow.
  • The greatest asset we have is our skill set and we should always keep investing in it.
  • Earning power comes with knowledge and not your degree.
  • Take responsibility of your financial future.
  • It is very important to build your own safety net rather than living in dismal of old age, without any pension and or financial aid.
  • Learn financial discipline and curb wasteful or impulsive expenditure.
  • Don’t be afraid of losing. Being broke is temporary, being poor is eternal.
  • Lastly, don’t work for money. Let the money work for you.

Rich Dad Poor Dad Chapter Reviews

Chapter 1: Rich Dad, Poor Dad

Rich Dad's Advisors®: Guide To Investing PDF Free Download

Chapter 2: The Rich don’t work for money

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Chapter 3: Why teach financial literacy

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Chapter 4: Mind your own business

Chapter 5: The history of taxes and the power of corporations

Chapter 6: The rich invent money

Chapter 7: Work to Learn, Don’t Work for Money

Chapter 8: Overcoming Obstacles

Free movies downloads legally.

The final review

Rich Dad Poor Dad is one of the classics in the field of wealth management.

This book has helped me a lot and there is no denying the fact that it is mind-set shifting and thought-provoking book.

If you want to set your money basics right, you simply can’t afford to miss reading this book.

Cheers to your success!!

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Hi, my name is Tushar Jain and I am a personal finance enthusiast who loves to talk about money, savings, investments and spending. I blog about financial wisdom and income growth habits on this blog.

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