Rich Dad Poor Dad Book summary chapter#1

 

Insights from Introduction and Chapter 1

Rich Dad Poor Dad

By Robert T keyosaki

#1

Robert Kiyosaki considers that he had two dads: a poor dad, who was his real father, and a rich dad, his friend’s father. They had very different mindsets when it came to dealing with money, and Kiyosaki compared them to figure out which strategy was best for getting rich.

#2
Poor and middle-class people work hard to make money. Rich people, however, make money work for them. 

Working.hard rarely makes someone rich; working smart does.

#3
When Kiyosaki was a kid, he went to school with rich people, but was never invited to their homes or on vacations because he was poor. His friend Mike and he decided they wanted to learn how to make money, so they asked Mike’s father, “rich dad,” to teach them.

#4
Rich dad suggested that they work for him three hours a week for 10 cents an hour. He offered them a prompt opportunity and taught them to take it, because opportunities are few and it’s always best to say yes and not hesitate.

#5
After a few weeks, Kiyosaki grew tired and felt like he was being taken advantage of. He asked his father what to do. He told him he needed to ask for a raise, and agree to 25 cents.

#6
When Kiyosaki expressed his frustration to rich dad about being underpaid, the latter applauded him for it, as that was his aim. He believed anger was a part of the formula for having passion to want to succeed financially.

#7

He taught the boys that they should not work for someone, but instead figure out how to make money in a smart way, without being exploited

#8
He also taught them that the reason most people stick to their less-than-tolerable jobs is because they are scared. They’re scared of not having enough money to survive and pay their bills, or they fear unemployment because it’s seen as the ultimate failure.

#9
Rich dad taught the boys that if they used their brains to figure out ways to generate income, even if it meant not having income during that brainstorming period, they could come up with great ideas.

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Arshad Akbar Arain