AUTHOR
:- Robert Kiyosaki
Summary in a
nut shell :-
This book tells the story
of a boy(Robert) having two fathers. You might wonder how two fathers? Actually
one of them was his original father while other was his friend’s father. His father
was highly educated and poor while his friend’s father was not so educated but
rich. In this book he compared the mindset of a rich man vs mindset of a poor
man. This book gives you an insight of mindset of a rich man. It will also help
to develop that skills to become financially strong and live your dream life.
FULL SUMMARY
WARM UP
Everybody in this world
want to become rich and attain financial freedom. Nobody wants to continue the
so called RAT RACE, and it is true that everybody work hard to attain financial
freedom and become rich. But only a few become rich and live their dream life.
WHY ? Because they know how to manage their money. To become rich it is not
important how much you are earning but where and how are you spending them.
RICH DAD POOR DAD
In this book the author
explained the importance of money management to everyone. Because this type of
things were not taught in school so we have to learn this on our own.
Robert is a boy having
two fathers. You might wonder how two fathers ? Actually one of them was his
original father while the other was his best friend’s father.
From the begning children
like Robert were taught to study hard , secure good marks in exams, get a good job and earn lots of money. Then only
you will be considered as successful in your life. Robert’s father was highly
educated and poor while his friend’s father was not so educated and rich. Both
of them were successful in their respective field. Both men gave many valuable
lesson to Robert .
In this book he compared the mindset of his
own father( mindset of poor people) to mind set of his friend’s father(mindset
of rich people). Let us compare both of them below :-
Ø Roberts father say him not to think about those things that they cannot afford, while his friend’s father tell him to find ways to achieve/purchase those things.
In this way Roberts mind
work even more to find out new ways of income to get those things. And hence he
created new ways of income.
Ø First dad(Robert’s own dad) tell him
not to take any kind of risks, while his second dad(his friend’s dad) tell him
to find ways to reduce those risks. Because risks come with high potential of
money.(RISK HAI TO ISK HAI).
Ø Robert’s second dad taught him about
the concept of assets and liabilities. He said Robert to increase his assets
because assets makes you rich day by day. And liability make you poor and poor.
ASSET :- Those things
that brings money to your pocket.
LIABILITY:- Those things
that take money from your pocket.
Ø Robert learned another grate concept
of “PAY YOURSELF FIRST” from his second dad. According to this concept,
whenever you get your salary first spend some amount of money on yourself(not
in doing any party or vacation but to learn something which will add up value
in your life) then do rest of your expenses. By doing this you will slowly increase
your value and knowledge.
Ø Both of his dad adviced him to learn from his previous mistakes, which
may be the most valuable advice for every human being.
Ø Robert’s first dad tell him to work
for money(means to work for others) while his second dad tell him not to work
for money but to make money work for you(means make other work for you).
Ø Another important aspect of life to
become rich is to know the opportunity, which Robert undoubtly learned from his
second dad. His second dad say those people who cannot recognize opportunity cannot
become rich in life.
Ø At last and the most important thing Robert
learned from his second dad is to make investements and management of money and
risk. To become rich it does not depend how much money you earn it depends
where you are spending that money.
Hope you
will like this post. If you want more posts like this please comment me below.
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