Rich Dad Poor Dad: 10 Important Lessons


Regarded as one of the best books ever written on personal finance and remain #1 Seller for almost two decades, Rich Dad and Poor Dad by Robert Kiyosaki is a book that inspires so many people to become financially better.

I have read this book lately and within no time this book hit my all-time favorite list. Real Life ideas, altogether a new perspective towards money, this book has a lot to teach you if you want to become better with money and master your financial life.

Over 32 million copies already sold in more than 50 languages and 100+ countries. It is surely a book you should start your financial education with.


So Here Are 10 Important Lessons I Learnt From RICH DAD POOR DAD


1. Rich Don’t Work For Money

Poor and middle-class people spend their whole life working for money, they kind of become slaves to money. In this way, money starts controlling their life, and every decision is influenced by it. They got trapped in the rat race where they get up, go to work, work hard just to pay the debt, and mortgages which are going out of date.

Where on the other side Rich People make money work for themselves, they put their money to make more money and so on. They aren’t bound by money and they are capable of making better decisions regarding money.


2. The rich focus on Assets, Poor and Middle-Class focus on Liabilities

According To Robert Kiyosaki

An Asset is something that brings money to your pocket

Liability takes Money out of your pocket

It’s not about how much money you make, but its how you manage it. And this is what differentiates the poor or middle class from Rich. Wealthy people focus on generating more and more assets so that they can increase their cash flow but on the other hand poor people focus on liabilities.

When a Middle-class man gets a paycheck he spends most of the income on buying new cars, eating out, partying, shopping and etc which results in a huge list of debt to pay. While rich first generate Asset which makes them enough cash flow for years.


3. Become Financially Literate

Robert Kiyosaki emphasizes on how much our financial literacy matters. Your academic education can surely make you millions but your financial education will help you learn in managing those millions. Money without financial intelligence is money soon gone.

A person can be highly educated, professionally successful, and financially illiterate.

Where the poor and the middle class focuses on getting good grades getting a good degree which they probably never use and earn all their life to pay debts, mortgages, and credit card bills. Rich focuses on gaining financial knowledge. It is absolutely necessary to be financially educated to master your money or else money master you.


4. Pay Yourself First

No matter what, learn to pay yourself first as soon as you get your paycheck. What most people do is that when they got a fresh paycheck they pay for bills, debt, mortgages, government taxes security deposit, and so on. Which in the end left them with almost nothing to put in their asset column.

Rich people often pay themselves first even before paying to the government. They invest this money which helps their asset column to grow. It is a well-known law in personal finance. This will help you in generating savings, building an emergency fund, and also contribute to 401(k) and ROTH IRA.


5. Rich Invent Money

Where poor and middle-class work so hard 9-5 to earn money, rich people generate different ideas to invent money. They focus on new opportunities to make their asset column grow stronger and stronger so it can generate a greater amount of wealth, where poor or middle remain stuck in their liabilities.

The sole reason why the rich are rich is that they know how to make money from money instead of spending every weekend partying. When poor people spend their money rich invest it and that’s mainly the reason they have a constant cash-flow.


6. People’s lives are forever controlled by Fear and Greed

When it comes to money most people want to play safe not because they want to but rather they have to. They have this fear of money that what if they have no money left? or what if they lost all their money? This fear drives them to get up daily, work 9-5, return home, and be ready to do it all over again for 40 years.

And when they get their paycheck they spend it like there is no tomorrow which brings them back to where they were initially. People with this mindset find themselves trapped in a rat race where they worked all their life just to pay bills and mortgages. They are life is controlled by fear of loss of money and greed for more money.


7. Learn to see Opportunities

There is gold everywhere

Most people are not trained to see it.

Opportunities are everywhere, all that we need to do is to keep our eyes open. It’s all about the opportunities and how you can make the best use of them. It differentiates the poor and middle class from the rich. Poor People often see these opportunities as risky so they decide to avoid failure whereas the rich see them as a chance for them to grow.

Grab every opportunity you encounter with and trust me either you get success out of it or it will help you grow but grab it. Because the one who avoids failure is the one who avoids success.


8. Mind Your Own Business

What is your business? You might say I am a doctor, teacher, engineer, or just a plumber. Well, that’s your profession, not your business. So What is your business? There is a big difference between your profession and your business. You might be a doctor by a profession but you have a business in real estate or you are a banker but you have your business as a day trader.

This is the secret of most of the riches that they mind their own business. They have a job but also they have the business. To become financially secure and independent one should mind his own business.


9. More Money Doesn’t Solve Problem

Most people thought that more money might solve their problems or the root cause of their problems is that they earn less so they either doing a second job to meet their expenses or apply for a loan which might take their whole life to settle and this cycle goes on and on.

Money doesn’t solve your problem, it’s your intelligence that solves problems and produces money. Once you have enough financial understanding that how money behaves and how it works, you can let money works for you to make more money.


10. Think Big

What you think you become. So why not think big. See it’s all about the subconscious efforts that whatever we think continuously, we start doing it intentionally or unintentionally and end up becoming what we thought.

Robert Kiyosaki says small people remain small because they think small and vice versa. Rich people think wisely about finances. Where poor people think about bills, loans, credit card bills, liabilities, and other money-related problems. Rich people think about assets, investing, growth, and other money-related solution. So think big and become big.


If you are looking for a better financial future where you no longer have to worry about money, then Rich Dad Poor Dad is a book you should go for. This will teach you some of the biggest Money Lessons of your life. Go for it, you will learn a lot.

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