Robert Kiyosaki is the New York Times best-selling author | About | Rich Dad (2024)

FAQs

What is the summary of the book Rich Dad Poor Dad by Robert T Kiyosaki? ›

Rich Dad Poor Dad 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. You don't need to earn a high income to be rich. Rich people make money work for them.

It is the third longest-running 'how-to' best seller of all time. Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe.

Is the Advice in 'Rich Dad Poor Dad' Still Relevant? The advice offered in "Rich Dad Poor Dad" is still relevant in the sense that it's practical, actionable, and covers some of the foundational principles that are necessary to build wealth.

Hence, the question has been solved in detailed explanation manner. 1) What is rule #1? Rule #1 is "Don't work for money." Rich Dad explains that the rich don't work for money, they make money work for them. This means investing in assets that generate income, such as rental properties, businesses, and stocks.

It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ).

The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.

Kiyosaki married his wife Kimberly "Kim" Kiyosaki (née Meyer) in 1986.

Rich Dad has helped millions of people around the world increase their financial IQ and boost their monthly cash flow — now it's your turn.

Value Cashflow Over a Paycheck

Through the lessons learned from his “rich dad,” Kiyosaki began forming a financial philosophy that emphasizes the importance of building assets that generate cash flow, such as businesses and real estate, instead of relying on a paycheck from an employer.

How does a rich dad/poor dad make money? ›

His primary income sources are book sales, speaking engagements, real estate, precious metals, cryptocurrency investments, financial education programs, and business ventures. He founded Rich Global LLC in 1977, a conglomerate specializing in manufacturing, retail operations, and financial education.

'Rich Dad, Poor Dad' was a catalyst. It didn't just influence my finances; it rippled through my life. It's like you step into a river, and the current gently carries you along, revealing new sights and experiences. I restructured my financial portfolio, diversified my investments, and even changed my career path.

Robert Kiyosaki, known for his investing advice and his “Rich Dad Poor Dad” series of personal finance books, has taken to social media again to alert investors about what he thinks they should be doing: investing in gold, silver and bitcoin.

The first lesson in the book says it all: The poor work for money, and the rich make their money work for them. Even though the book is most popular among real estate investors, it does NOT teach you “HOW” to invest.

The main idea of the book is to understand the importance of financial literacy. It means understanding how money works is really important for doing well with money. The writer thinks that schools don't do a good job teaching this and should do better at teaching things like how to manage money and make wealth grow.

Rich and Poor is a novel of a man who washes dishes for a living and decides to kill a billionaire as a political act. It is literature as political theory and theory as pure literary pleasure—a spiralling, fast-paced parable of joyous, overly self-aware, mischievous class warfare.

In Chapter 4 of Rich Dad Poor Poor Dad, Kiyosaki teaches us how the rich avoid taxes legally by using corporations. He gives several examples of how middle class people pay much higher taxes than the rich. He then teaches us the four most important business skills for financial freedom.

In Chapter 5, Kiyosaki underscores the value of financial education, creative thinking, and actively seeking ways to generate income. The concept of the "Infinite Return" emphasizes the importance of building and investing in assets that provide ongoing income, ultimately leading to financial independence.