Book Sharing — “Rich Dad, Poor Dad” in Point Form

Rich Dad, Poor Dad by Robert Kiyosaki

Having read the all-time bestseller investment book, “Rich Dad, Poor Dad” written by Robert Kiyosaki and Sharon Lechter, below are the extracts of the arguments in the book. I will also provide my little insights at the end of the article.

Lesson 1. The rich don’t work for money

• Life doesn’t teach you with words, but by pushing you around
• Welcome life to push you around so you can learn a lesson from it!
• Attitude is the key issue to success: some fear risk; some are brave to win big!
• Anger creates passion — a key component of learning
• Make money to work for you; knowing the concept of taxes: don’t allow the government to tax you
• Fear and greed make people work hard for money — Rat Race!
• Don’t let money control you and learn to see the opportunities

Lesson 2. Why teach financial literacy?

• One must be financially literate to get rich: knowing “assets” vs. “liabilities”
• Assets eg. real estate, stocks, bonds, notes, intellectual properties add money to your pocket
• Liabilities eg. mortgages, car loans, student loans, and credit card loans are taking money out of your pocket!