Rich Dad Poor Dad Summary

Rich Dad Poor Dad is all about the basic principles of building wealth and increasing financial education.

In the book, Robert Kiyosaki has two dads. His biological father, who he calls his poor dad, and his friend’s dad, who he calls his rich dad.

Both of his dads were well educated and successful in their own right. His poor dad held a Ph.D. and was a lecturer, and his rich dad was an entrepreneur.

Throughout this book, Kiyosaki compares the wealth building advice he gets from his rich dad to that he gets from his poor dad.

But both of them have very different views and behaviors when it came to money and wealth, and these difference are what made one of them the richest man in Hawaii, and the other earning just enough to cover his bills every month.

These stories are meant to be true, but there are some debates about whether Kiyosaki did indeed have two dads. Personally, I don’t think it really matters if they’re true or not, the example of having two dads helps to illustrate the principle of the book – which is what the rich teach their kids about money, that the poor and middle class do not.

About Author :

Robert Kiyosaki tells the story of his two Dad’s in his childhood. His own father and the father of his best friend. While he loved both, they were very different when it came to dealing with finances.

The Book’s Structure:

The book starts off as a story detailing some of the events, conversations, and lessons that Kiyosaki had with both of his dads.

It then transitions from a story into financial lessons about building wealth.

At the end of each chapter, there is a recap along with a study session. By taking the time to answer the questions laid out in the study sessions, it helps you to understand how the principles Kiyosaki is teaching can be applied to your own life.

When reading the book from front to back, the chapter recaps are a bit annoying because you end up reading the same information again , but they would be very useful when re-visiting the book as they would give you a quick refresh without you having to read the whole book again.

Key Points:

Mentioned throughout the book is a game called Cashflow that Kiyosaki had created.

After reading the book, I went and played Cashflow and it helped me to cement the principles that I had just been taught, as well as being able to see how they played out in ‘real-life’.

One thing that I took away from that game was the Personal Financial Statement – and I mean I literally took it away!

Your Personal Financial Statement pops up during your turn after you have rolled the dice. This allows you to see your current financial position which helps you assess what action you should take during your move.

I loved the way this information was presented, so I went a downloaded a free copy of the spreadsheet from the Rich Dad website (you can get it from here) and I now use it in my own financial accounts.

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