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2.05k reviews for:
Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money – That the Poor and Middle Class Do Not!
Robert T. Kiyosaki
3.54 AVERAGE
2.05k reviews for:
Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money – That the Poor and Middle Class Do Not!
Robert T. Kiyosaki
3.54 AVERAGE
informative
medium-paced
informative
medium-paced
informative
slow-paced
Typical American book that really annoyed me when reading. Nevertheless I didn't want to miss some of the insights it gave me. Why are these business writers always dorks?
informative
medium-paced
informative
medium-paced
informative
reflective
medium-paced
My book summary:
Don't be like "most" people : )
1. have money work for you
2. pay yourself first!!
3. It’s not how much money you make that matters. It’s how much money you keep.
4. Rich people acquire assets.
5. Broke is temporary. Poor is eternal
6. Intelligence solves problems and produces money.
7. Many financial problems are caused by trying to keep up with the Joneses.
8. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets
9. Wealth is a person’s ability to survive so many numbers of days forward—or, if I stopped working today, how long could I survive
10. To become financially secure, a person needs to mind their own business
11. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
12. Learn about - Accounting, Investing, Understanding markets, The law
13. Often in the real world, it’s not the smart who get ahead, but the bold
14. Financial intelligence is simply having more options.
15. The main management skills needed for success are:
Management of cash flow
Management of systems
Management of people
“The most important specialized skills are sales and marketing.”
16. Whenever you feel short or need something, give what you want first, and it will come back in buckets
10 steps:
1 Have a deep emotional reason or purpose for doing what you do, a combination of wants and don’t wants.
2 Understand the power of choice and choose daily what to do, including choosing the right habits and educating yourself.
3 Choose your friends carefully by leveraging the power of association, being careful not to listen to poor or frightened people.
4 Master the power of learning quickly and develop a formula for making money.
5 Pay yourself first by mastering the power of self-discipline to manage your cash flow, people, and personal time.
6 Select great people for your team and compensate them generously for their advice, because the more money they make the more money you will make.
7 Ask “How fast do I get my money back?” by focusing on return of investment first, followed by return on investment.
8 Use money generated by assets you own to buy luxuries by focusing on self-discipline to direct money to create more.
9 Have a role model to follow and tap into the power of their genius to put to your use.
10 Realize that if you want something, you need to give something first.
Don't be like "most" people : )
1. have money work for you
2. pay yourself first!!
3. It’s not how much money you make that matters. It’s how much money you keep.
4. Rich people acquire assets.
5. Broke is temporary. Poor is eternal
6. Intelligence solves problems and produces money.
7. Many financial problems are caused by trying to keep up with the Joneses.
8. Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets
9. Wealth is a person’s ability to survive so many numbers of days forward—or, if I stopped working today, how long could I survive
10. To become financially secure, a person needs to mind their own business
11. Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
12. Learn about - Accounting, Investing, Understanding markets, The law
13. Often in the real world, it’s not the smart who get ahead, but the bold
14. Financial intelligence is simply having more options.
15. The main management skills needed for success are:
Management of cash flow
Management of systems
Management of people
“The most important specialized skills are sales and marketing.”
16. Whenever you feel short or need something, give what you want first, and it will come back in buckets
10 steps:
1 Have a deep emotional reason or purpose for doing what you do, a combination of wants and don’t wants.
2 Understand the power of choice and choose daily what to do, including choosing the right habits and educating yourself.
3 Choose your friends carefully by leveraging the power of association, being careful not to listen to poor or frightened people.
4 Master the power of learning quickly and develop a formula for making money.
5 Pay yourself first by mastering the power of self-discipline to manage your cash flow, people, and personal time.
6 Select great people for your team and compensate them generously for their advice, because the more money they make the more money you will make.
7 Ask “How fast do I get my money back?” by focusing on return of investment first, followed by return on investment.
8 Use money generated by assets you own to buy luxuries by focusing on self-discipline to direct money to create more.
9 Have a role model to follow and tap into the power of their genius to put to your use.
10 Realize that if you want something, you need to give something first.
informative
inspiring
fast-paced
I have always been skeptical of this book but it actually proved to be a decent set of lessons based around the mindset one needs to adapt to make money. It is not a "how to" manual but a philosophy.
I appreciate that Kiyosaki recognizes many of the things I have thought about from time to time, such as how the economy is all smoke and mirrors. I tell people this all the time and they look at me like I just swallowed a live rat. Much of the advice is not new but it is still of the relevant variety: buy assets not liabilities, put your money to work for you, etc.
On the other hand I think its total bullshit that the wealthy in this country benefit from the infrastructure society builds and then worm their way out paying taxes.
Okay, I'm done now. And I do know there some responsible rich people out there. Somewhere? Maybe?
I appreciate that Kiyosaki recognizes many of the things I have thought about from time to time, such as how the economy is all smoke and mirrors. I tell people this all the time and they look at me like I just swallowed a live rat. Much of the advice is not new but it is still of the relevant variety: buy assets not liabilities, put your money to work for you, etc.
On the other hand I think its total bullshit that the wealthy in this country benefit from the infrastructure society builds and then worm their way out paying taxes.
Okay, I'm done now. And I do know there some responsible rich people out there. Somewhere? Maybe?