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RICHDAD,POORDADSUMMARY

Postedby:MalikMirzaon:November21,2009

In:BookReview31Comments

PDFSummaryofthebookRichDadPoorDad

RICHDAD,POORDAD
Author:RobertT.Kiyosaki
YearofPublication:2000
No.ofPages(ofthebook):207
Summary(PDF):2pages

RobertKiyosakireferstotwofathers,hisfatherispoorashewenttoschool,earnedgoodgrades,
obtainedhisPhDandaftervariousyearsofservice,retiredduetodierenceswithGovernment.
Secondfather,hisfriendsfatherisarichfatherwhoisabusinessman.Thisbookisbasedon
advicesgivenbytherichfathertotheauthor.

SixSecretsofRich
1.RichdontworkforMoney
2.Learnnancialliteracy
3.Mindyourownbusiness
4.TheHistoryoftaxesandpowerofcorporations
5.RichInvestMoney
6.WorktoLearnDontworkformoney!!!

SECRET1:RICHDONTWORKFORMONEY

Peoplequitjobsbecausejobsdontpaywell.Richwork(injobs)tolearnandnotformoney.Rich
dadgothisownsonandtheauthortoworkforaverysmallpayinaretailstore.Atonetime,due
tosmallpay,bothboyswerereadytoquitthejobandRichfathertoldthemthatthisisexactly
whypeoplequitejobandaprospectivebusinessmandont.RichDadslesson:Learnthebusiness

whereyoudoyourjobsothatyoucanstartyourownbusinesslater.Asaresultofthisthinking,
whereyoudoyourjobsothatyoucanstartyourownbusinesslater.Asaresultofthisthinking,
bothboystookthoughtaboutbusinessandreviewedtheavailableresourcebase.Theystarteda
comicbooklibrary,rentingbooksandearningmoremoneythantheirjobofretailstore.

SECRET2:LEARNFINANCIALLITERACY

Mostpeoplebuyahouseatmortgageandconsiderittobeanasset.However,inbusinessmans
vocabulary,itsactuallyaliabilitybecausethehouseisnotearninganything.Thehouseiseating
upresourcesofthepersonwhohasboughtitonmortgage.

Inschool,peoplearetaughttoearngoodgrades,getgoodjobsandbegoodemployees.Generally,
nancialliteracycomponentisnottaught.Therefore,peoplewithjobgenerallystruggletomeet
theirdaytodayexpenses,middleclasspurchaseliabilitiesconsideringittobeanasset(e.g.a
houseboughtonmortgageoracaronlease!)whilerichpeopleconstructasoundassetbasewhich
generatesincomeforpurchaseofotherassets.

Richdadtaughtauthortobuyhouseoncethereisanotherassetwhichgeneratesenoughcash
owtoenablethepersonbuyahouse.Whataretheassetsofrichpeople?Thoseinclude:Real
Estate,apartmentsgeneratingrentsandbusinessesbeingmanagedbymanagersandgenerating
cash.Apersoncanstartwithstocks,bondandmutualfundsbutthesearenotatallasubstituteof
abusinesswhichgeneratescashows.RichDadlesson:Learnthedierencebetweenanasset
andaliabilityandthinkhowtocreateincomegeneratingassets.

SECRET3:MINDYOUROWNBUSINESS

RichDadslesson:Alongwithyourdayjob,startsomebusinesssidebyside.Dontspendallyour
salary.Savesomeamountonamonthlybasisandthinkaboutanideawhichcanbeturnedto
protablebusinesslater.BusinessofMcDonaldsownerisnotsellinghamburgersbuttohave
realestate.Ifhamburgersdontsell,thereisenoughpropertytobesold,ifrequired.

SECRET4:THEHISTORYOFTAXESANDCORPORATIONS

Salariedpeopleearntheirsalary,paytaxesandthenspendfromwhateveramountisleft.Rich
peopleearn,theircompaniespayalltheirexpensesincludingtaxesandthentheyhaveenough
amountstospend,asalltheirexpensesarepaidbeforepayinganytax.

Authoradvisestotalktobusinessmenandinvestmentbankerstolearnbusinesses.Readingand
understandingofnancialstatementsisamusttounderstandhowabusinessoperates.Rich
dadslesson:howrichpeopleprotectthemselvesfromheavytaxes?Theirsecret:Corporations!

SECRET5:THERICHINVESTMONEY

Apersoncaninvestmoneyeitherthroughexpertsi.e.investmentbankers,stockbrokersetcorcan
goforselfcreatedinvestmentbyidentifyinganopportunity,raisingcapitalandndingexpert
peopletomanagethebusiness.RichDadslesson:Learnhowtomanagerisk.AnInvestmentis
notrisky.Notknowinghowtomanageaninvestmentisrisky

SECRET6:WORKTOLEARNANDNOTFORMONEY
Oneshouldlearntomanagecashows,systemsandpeople.Continuouslearningisthekey.
Oneshouldlearntomanagecashows,systemsandpeople.Continuouslearningisthekey.
Learnhowtosell.

RichdadslessonWhattodo?Actionplan

Assessyourpresentsituation:Ifyoukeepondoingwhatyouaredoingsincequitesometime,
youwillgetthesameresultswhatyouaregeing.Togetnewresults,dosomethingdierent.
Trytondsomenewideahowwillyoucreateandincomegeneratingasset?
Takeaction,afterndingnewsomenewidea.Practicaltip:FindMentor.Trytondsome
personwhohasachievedwhatyouwanttoachieve.Asktipsfromhim/her.
Trytoinvestinrealestatewhenmarketisdown.Makeoers.Dontsitandwaitforopportunity
tocome.
Learnfromlessonsofsuccessfulpeople.

ACT,MANAGERISK,THINKBIG,THINKBUSINESS,DONTBEAFRAIDTOTRYand
FAIL

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Tags:BookReview,Financialliteracy

31Responsesto"RICHDAD,POORDADSUMMARY"

1|jervan
September10,2015at8:50am

iminspiredthisstorycozireadcarefuly..

Reply
2|Anonymous
September10,2015at8:48am

thisstoryareinspiringtoallpeoplehoreadthisbookorstory

Reply
3|otimmoses
3|otimmoses
January5,2014at5:00pm

Itseducativeintheupcomingyouthlikemewhomanagetogotoschoolandhassomethingto
do.kiyosakigodshouldkeepyouon.

Reply
4|mickey
January3,2014at4:07pm

greatknowledgeacquired,,amgreatfull
forthat

Reply
5|RichDadPoorDad|dreamdreambig
September5,2013at8:20pm

[]hps://wisdomfrombooks.wordpress.com/2009/11/21/richdadpoordadsummary/[]

Reply
6|RMPProperties
July8,2013at5:30pm

HiMalik,
Yourplaceisvaluableforme.Thanks!

Reply
7|CarmelaS.Ursua
March22,2013at8:08am

Hisir,RICHDADPOORDADisaneyeopenertoseetherealityis!agreatmentor!..iama
studentandinvolvesinanetworkmarketingbusiness.

Reply
8|BookReview:RichDad,PoorDadInaNutshell|IntelligentBusinessIdeas
March4,2013at2:36am

[]dadtaughtauthortobuyhouseoncethereisanotherassetwhichgeneratesenoughcashow
toenablethepersonbuyahouse.Whataretheassetsofrichpeople?Thoseinclude:Real[]

Reply
9|Elvisken
February21,2013at8:15pm

howilovetoberichwithR.kiyossakismethod.PLEASESir,bemymentorbysendingmebasic
infoandbooks/materialstohelpmegetthere.thisismyemail;elvisken63@yahoo.com

Reply

10|Anonymous
10|Anonymous
October22,2012at6:22pm

ihavelearnedsomanynancialissueshere

Reply
11|j.chohan
May17,2012at1:51pm

fithaixar..shortcut.

Reply
12|neha
August23,2011at9:51pm

wel,litreallyhelpedmeinmyassignment.thanks!

Reply
MalikMirza
September20,2011at11:17am

ThatwasinterestingtonoteNeha

Reply
13|FatimaPaquibulan
August9,2011at9:49am

Sir,
iadmiredallthethingsyouvewrieninthisbook.ithelpedmelotwithmydailyearningsand
nowespeciallythatihveachildthanksforinspiringandsharingyourknowledge

FatimaPaquibulan

Reply
MalikMirza
August9,2011at11:37am

ManythanksFatimaforyourcomments

Reply
14|Sara
March1,2011at2:24pm

Inspiring!

Reply
MalikMirza
March1,2011at3:53pm

Thanks.RichDadPoorDadisoneofthebookswhichtellyouwhyarebusinessmenreallyrich!
Thanks.RichDadPoorDadisoneofthebookswhichtellyouwhyarebusinessmenreallyrich!
Also,ifyouhavetime,pleasegothroughthepost:Doyouneedacollegedegreetobea
millionairefrom:hp://wp.me/pHUHq7m

AdamKhoo,theyoungestmillionaireatSingaporehasprovidedwithdetailedreasonon
designingdestinyinoneofhisbooks,aboutwhichyoucanreadfromtheabovelink.

Keepvisiting&keepsharingyourthoughtsthanksandregards

Reply
15|GhulamMuhammad
January4,2011at12:45pm

Valuablecontributiontospreadknowledge,thankyoumaliksahibWishyouallthebest

Reply
MalikMirza
January4,2011at1:20pm

ThanksMuhammadsbforyourcommentsandappreciation

Reply
16|FaridPremani
February12,2010at12:04am

GreatWork!Ihaveaddedyourblogtomyfavourites

GoodWishes,

FaridPremani

Reply
17|MansoorKhan
December2,2009at5:50am

DearMalik,

Greateortandtaughtprovokingaswell.Wishyoubestofluckineveryendeavor.

warmregards,
Mansoor

Reply
18|ZohraS.Khan
December1,2009at5:13am

Finallyablog!!..goodstartandimpressivereview.

Reply
19|ShaukatAliKhan
19|ShaukatAliKhan
November30,2009at1:58pm

DearMalikBhae,

Greattoseesuchanoutstandingeorttosharetheknowledge.

tcandbestregards,

Shaukat

Reply
20|AzadLalani
November24,2009at6:00pm

MalikBhai,Itisindeedagreateorttoshareandenlightenotherswithsuchknowledge.
Honestly,itismywishandprayertoseeyoutakingthatGIANTSTEPincrossingthebridgeto
entrepreneurshipsoon!!

ThebiggestRISKinlifeisnottakingRISK!!

Wishyoutheverybestforallyourendeavorsinlife.

Reply
21|habibbhai
November24,2009at4:15pm

realysuchagreatarticle,muchhelpfulforprofessionalsaswell,everybodyshouldkeeponsuch
typeofpracticesattheirposition.great

Reply
22|GetanehGobezie
November23,2009at8:00pm

Great!

RICHDAD,POORDADisaneyeopenerbook.Ihavereadthebook,twotimes.Itisareal
advisorforlifethatIhavetostopmyregularsalariedjobtostartmyownsmallbusiness.Iam
managingitwell,andwithFREEDOM.

GetanehGobezie

Reply
23|QasimAliKaramat
November23,2009at11:39am

Nicereview.Ipickedquiteafewpointersfromthiswriteup.Verywellsummarized.

Reply
24|IbrarAhmadMir
24|IbrarAhmadMir
November23,2009at10:05am

ReallyGr8jobdone.Wearewaitingformoreposts.

Reply
25|MunzirLatif
November23,2009at9:02am

GoodworkMalikSb.Thisinformationneedstobespreadtomanypeopleasitwouldreallyhelp
outthoseentrepeneurswhoarestuckintheirjobsandjustcantdecidewhethertosetuptheirown
ventureornot.

Reply
26|Basil
November21,2009at7:17am

MalikBhai,Thisisjustawesome.Iapplaudyoureortsandlookforwardtomoresuchcontent.

Reply
FarasatHussain
November24,2009at4:40am

DearSir,

Iamurstudentimgoodtoseeyoureortsforcollectionofsuchaniceinformation.

regards,

FarasatHussain

Reply
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