Rich dad poor dad book summary

  1. dont work for money
    1. Work to learn
    2. Let money works
    3. Underpaid? Knowledge is more valuable
  2. Financial literacy
    1. Rich buy asset – add money to your wallet
    2. Asset makes money
    3. spend less, avoid liabilities (bad debt), buy just assets
  3. Mind your own business
    1. Still working
    2. But also make money and buy asset at side
    3. Keep liability low
    4. Add income producing assets
    5. Add business
    6. invest in own education – best investment. 
  4. The History of Taxes and the Power of Corporations
    1. Business – spend then only taxed
    2. Indiv – tax then spend
    3. if corporation goes banckrupt, won’t touch personal belonging
  5. The Rich Invent Money
    1. Appraise finances, set goals, build financial intelligent to achieve
    2. Greatest assets – your mind
    3. Read books and network with experts
    4. Learn to take risk. Not most intelligent will success but the brave
    5. 2 factors – knowledge and courage
  6. Work to Learn—Don’t Work for Money
    1. focus on skills not salary – broaden and gather more skills while working
    2. sales and marketing are essentials
    3. don’t specialize too early. generalize, have broad skills to open more financial opportunities
  7. Overcoming Obstacles
    1. fear of losing money is the biggest barrier – everyone fears but rich act despite it
    2. laziness often hides behind busyness – Don’t ignore financial planning because you’re “too busy.” 
    3. arraogance blocks learning – Always stay open to feedback and new knowledge
  8. Getting started
    1. Find your reason (‘why’) for financial freedom – A strong purpose keeps you motivated through challenges.
    2. Start small and take action – Begin investing and learning; don’t wait for perfect conditions.
    3. Surround yourself with financially smart people – Your circle can pull you up or hold you back.
  9. Final thoughts / epilogue
    1. Read, attend seminars, make offers, visit properties, and learn by doing.
    2. Build a strong team – Lawyers, accountants, and advisors help you scale faster.
    3. Be generous with what you learn – Sharing and teaching reinforces your own knowledge and opens doors.