Summary of Rich dad Poor Dad by Robert Kiyosaki | Enrich Success

Summary of Rich dad poor dad:-

Robert have two fathers, the one who is real father he called Poor dad and his friend mike's dad he called Rich dad. The Poor Dad Completed his P.H.D. and also completed his Advanced studies in scholarship while his rich dad never passed Class 8. His both dad are successful in their criteria but the Poor dad had Struggled too much Financially while his rich dad becomes one of the richest man in America. After Death of Poor dad, he Left too many Unpaid bills for his Family where the Rich dad Lefts millions of dollars to his family after his death. His Poor Dad Always say "I can't afford that" whereas his rich dad always ask ''How can I Afford this?'' . His poor Dad always says Robert to Get study and take Qualification to get a Good job whereas his Rich dad makes Robert think to How he Gives Job to other people. Both Dad have different Mindsets. At the Age of 9, Robert Kiyosaki decided that he will listen to his Rich dad and learn to earn money. Today I'll Share 7 Secrets that Rich Dad shared to Robert Kiyosaki.

Lesson #1 :- FEAR AND DESIRE

Author says that people always work to earn,  they always wanted a good job and income but the Author says that There is no benefit either how much your Income Increases because In increase of salary, your taxes and expenses will also increases. The more they Earn, the more they spend. Author Calls it RAT RACE means you spend all you earn and never get rich. The only solution is to Invest your Income

Lesson #2 :- Assets and Liabilities

When Robert Asked the Secret of becoming rich from his Rich Dad then Rich dad replies that there's only One way to become rich. You have to understand the difference between Assets and Liabilities and Have to buy Assets. The Robert Asked That if Becoming rich is That's easy then why everyone is not getting rich? Then Rich dad replied that everyone can't become rich because they doesn't understand the difference between Assets and Liabilities.

‌Assets are Anything that puts money in your pocket.
Eg. You Buy a House and Give it in Rent.

‌Liabilities are anything that takes money from your Pocket.
Eg. You buy a house for yourself now you have to Pay Electricity bill, gas bill, property tax and Maintenance Cost.

Many people Earns money by job but that doesn't mean Job is An Asset for them. Author says that Asset must be like that they automatically generates income without working

Poor and Middle Class Work For Money.
Rich have Money Work for Them.
Rich buys assets while they get money and later assets generates income for them. They use The money earned from assets for expenses and Again invest rest of the money to assets.

Rich people buy luxuries at the end only when the assets are generating enough income, poor buys luxuries first.

Always Remember these 3 Points:-
•Don't work for money, make money work for you.
• Buy more assets
• Buy luxuries at the end.

LESSON #3 :- MIND YOUR OWN BUSINESS

Most of people Doesn't get rich because they work for others in their entire life. Mind your own business means Build and keep your assets  column strong. Always but Assets that you love.

Lesson #4 It's Not the smart who get Ahead but the bold

People become rich of their Financial knowledge. You'll not get rich until and unless you use that knowledge. Many people have knowledge but they never used that to take actions. We gives you the knowledge to invest in assets, now how much of you really follow this advice? Only few and the chances is that these few people will get rich in future. Many people Doesn't want to take risks, some says I didn't money to invest. But the Author of the Story invested on Highly Risky Investment when he doesn't have penny/money on his account. Their is lots of way to get rich so Financial knowledge is very important. Financial knowledge reduces risk but if you want to become rich Then Risk Taking Is Compulsory.

Lesson #5 :- Work to Learn

After Graduation, Robert Kiyosaki get a job in Standard oil of California where he was earning 42000 Dollars per year. His poor Dad was too much happy, he wanted that Robert get settled in a High Paying Job where his Rich dad says to Never work for money, Work to learn. Robert lefts his Job after 6 Months and goes to Marine Corps so he will learn something. His rich dad was too much happy for his decision but his poor dad is too much angry. Poor dad says that you have to master one subject or skill, that's right but you also have to keep Learning new skills.

Lesson #6 :- Pay Yourself First.

You have to pay yourself first to buy assets and use rest for expenses. Robert asked "What if we don't have enough left for expenses? " From rich dad then rich dad replied "No matter what, Always pay Yourself first. If you get pressure for Expenses then you'll do something and manage your expenses buy Always Invest on assets first".

Lesson #7 :- Give and You shall Receive

Rich Dad believed if you want something, first give it. Whenever Rich dad and Robert Kiyosaki needs money, then they helped money to someone. When they need sales then they helped someone on their sales.

So friend if your Want to read full book then Check out from here :-
If you liked this Article and wants more summaries to improve yourself then be with us always. Thanks for Reading.