Rich dad poor dad is one of the best selling book of the 20th century.this book is written by the author Robert T. Kiyosaki. The language of the book is really easy to understand that even 9to10 years kid can understand it.This book is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing.

The six lessons from rich dad poor dad


Lesson 1: The Rich Don’t Work for Money

Lesson 2: Why Teach Financial Literacy?

Lesson 3: Mind Your Own Business

Lesson 4: The History of Taxes and The Power of Corporations

Lesson 5: The Rich Invent Money

Lesson 6: Work to Learn—Don’t Work for Money

Rich Dad Poor Dad Summary


1)There is a difference between being poor and being broke. Broke is temporary. Poor is permanent.

2)Money comes and goes, but if you have the education about how money works then you can begin building wealth.

3)People’s life are forever controlled by two emotions: fear and greed.

4)So many people say, ‘Oh, I’m not interested in money.’ but they’ll work at a job for eight hours a day just for it.

5)Thinking that a job makes you secure is lying to yourself.

6)Intelligence solves problems and produces money.

7)You must know the difference between an asset and a liability, and buy assets.

8)An asset puts money in your pocket. A liability takes money out of your pocket.

10)Illiteracy, both in words and numbers, is the foundation of financial struggle.

11)Cash flow tells the story of how a person handles money.

12)Most people don’t understand why they struggle financially because they don’t understand cash flow.

13)The number-one expense for most people is taxes.

14Rich dad believed that the words ‘I can’t afford it’ shut down your brain. ‘How can I afford it?’ opens up possibilities, excitement, and dreams.

15)The fear of being different prevents most people from seeking new ways to solve their problems.

16)A person can be highly educated, professionally successful, and financially illiterate.

17)Once you understand the difference between assets and liabilities, concentrate your efforts on buying income-generating assets

18)Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive

19)The rich buy assets. The poor only have expenses. The middle class buy liabilities they think are assets

20)Financial struggle is often directly the result of people working all their lives for someone else.

21)The mistake in becoming what you study is that too many people forget to mind their own business. They spend their lives minding someone else’s business and making that person rich.

22)To become financially secure, a person needs to mind their own business

23)Financial struggle is often the result of people working all their lives for someone else.

24)Keep expenses low, reduce liabilities, and diligently build a base of solid assets

25)Kiyosaki says he owns business that do not require his presence. “If I have to work there, it’s not a business. It becomes my job.

26)According to Kiyosaki, real assets fall into the following categories

Stocks
Bonds
Income-generating real estate
Notes (IOUs)
Royalties from intellectual property such as music, scripts, and patents
Anything else that has value, produces income or appreciates, and has a ready market

27)Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities

28)If you want to be rich then you should be financially literate

29)The best thing about money is that it works 24 hours a day and can work for generations.

30)When Kiyosaki says mind your own business, he means building and keeping your asset column strong. Once a dollar goes into it, never let it come out.

31)An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.

32)A true luxury is a reward for investing in and developing a real asset.

33)Kiyosaki’s rich dad did not see Robin Hood as a hero. He called Robin Hood a crook

34)If you work for money, you give the power to your employer. If money works for you, you keep the power and control it.

35)Each dollar in my asset column was a great employee, working hard to make more employees and buy the boss a new Porsche.

36)Kiyosaki reminds people that financial IQ is made up of knowledge from four broad areas of expertise:         

Accounting
Investing
Understanding markets
The law

37)A corporation earns, spends everything it can, and is taxed on anything that is left. It’s one of the biggest legal tax loopholes that the rich use.

38)Garret Sutton’s books on corporations provide wonderful insight into the power of personal corporations.

39)Often in the real world, it’s not the smart who get ahead, but the bold.

40)In Kiyosaki’s personal experience, your financial genius requires both technical knowledges as well as courage.

41)Kiyosaki always encourages adult students to look at games as reflecting back to them what they know and what they need to learn.

42)Games reflect behavior. They are instant feedback systems.

43)Financial intelligence is simply having more options.

44)The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.

45)The world is always handing you opportunities of a lifetime, every day of your life, but all too often we fail to see them.

46)Simple math and common sense are all you need to do well financially.

47)The problem with ‘secure’ investments is that they are often sanitized, that is, made so safe that the gains are less.

48)It is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.

49)Most people never get wealthy simply because they are not trained financially to recognize opportunities right in front of them.

50)Great opportunities are not seen with your eyes. They are seen with your mind.

51)Job is an acronym for ‘Just Over Broke

52)Look down the road at what skills they want to acquire before choosing a specific profession and before getting trapped in the Rat Race.

53)Education is more valuable than money, in the long run.

54)The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems.

56)The main management skills needed for success are:

Management of cash flow
Management of systems
Management of people

57)The most important specialized skills are sales and marketing.

58)To be truly rich, we need to be able to give as well as to receive.

59)Giving money is the secret to most great wealthy families.

60)The primary difference between a rich person and a poor person is how they manage fear.

61)There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow. The five reasons are:

Fear
Cynicism
Laziness
Bad habits
Arrogance

62)For most people, the reason they don’t win financially is because the pain of losing money is far greater than the joy of being rich.

63)Failure inspires winners. Failure defeats losers.

64)Real estate is a powerful investment tool for anyone seeking financial independence or freedom.

65)A great property manager is key to success in real estate.

66)Whenever you find yourself avoiding something you know you should be doing, then the only thing to ask yourself is, ‘What’s in it for me?’ Be a little greedy. It’s the best cure for laziness.

67)There is gold everywhere. Most people are not trained to see it.

68)Most people simply buy investments rather than first investing in learning about investing

69)Richard believes one of the hardest things about wealth-building is to be true to yourself and to be willing to not go along with the crowd.

70)The rich know that savings are only used to create more money, not to pay bills.

71)If Richard could leave one single idea with you, it is that idea. Whenever you feel short or in need of something, give what you want first and it will come back in buckets.

72)In the world of accounting, there are three different types of income:         

Ordinary earned
Portfolio
Passive


5 main things from rich dad poor dad

1)The poor and the middle-class work for money. The rich have money work for them.

2)It’s not how much money you make that matters. It’s how much money you keep.

3)Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

4)Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.

5)The single most powerful asset we all have is our mind.