Rich Dad Poor Dad PDF


Rich Dad Poor Dad PDF

Rich Dad Poor Dad by Robert Kiyosaki is an amazing book – It is the number one best selling personal finance book of all time.

You can’t afford not to read this book.

I don’t come from rich parents.

Riches begin with a state of mind.

Don’t place your financial future in the hands of average knowledge.

More often then not the masses tend to be totally wrong about most thing.

The average American can’t afford a $400 dollar expense!

That tells you all you need to know about average financial literacy.

This book will help you understand how money works and how and why the rich get ahead – and the poor don’t.

You owe it to YOURSELF to get educated financially. As of the writing of this post Rich Dad has a 4.7/5 rating with 63,000! REVIEWS!

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What This Book Is About:

Rich Dad Poor Dad is fundamentally a book about developing the proper financial mindset to become rich.

Rich Dad’s Lesson #1: “The rich don’t work for money.”

Rich Dad Lesson: “Savers are losers”

Rich Dad Lesson: “Your house is not an asset”

Rich Dad Lesson: “Why The Rich Pay Less in Taxes.”

Robert Kiyosaki talks about his two fathers that he grew up with as a young boy.

No, he was not raised in a gay household.

His “poor dad” was his biological father, well-educated and intelligent.

His “rich dad” was his best friends father, and had never finished the eighth grade.

Both men gave him financial advice and believed in education – but did not recommend studying the same thing.

Rather then accept the opinions of one dad or the other, Robert Kiyosaki compared and chose for himself.

The big problem was the rich dad was not rich yet and the poor was not poor.

A major reason why the rich get richer and the poor get poorer is because SCHOOLS DON’T TEACH KIDS ABOUT MONEY.

Schooling is designed to teach you to become a good little obedient worker bee – NOT RICH.


The biggest difference between Rich People and Poor People is the way they look at money.

Poor people WORK FOR MONEY their whole lives.

Rich people have their money WORK FOR THEM.

A simple difference in mindset leads to massively different results after a few years.

Kiyosaki talks about his origins, how he met his friend Mike and Mike’s father (his Rich Dad) as a nine year old.

Kiyosaki asks his  real father (Poor Dad) how he can make money.

This is code for : “I don’t know the answer, so don’t embarrass me.”

His dad gives him the canned line of “Use your head, son.”

The next day he met up with Mike and they decided to become child business partners.

They brainstormed ways to make money. They came up with a great idea!

They eventually began making counterfeit Nickels out of lead metal toothpaste tubs –  until Poor Dad catches them and makes them stop.

Poor Dad suggests they talk to Mike’s Dad (Rich Dad.)

Mike and Kiyosaki decide to begin working for Rich Dad.

Rich Dad pays them ten cents an hour for exhausting work.

After a while, they get fed up and demand a raise.

Rich Dad begins by lecturing them with nuggets of financial wisdom. He reveals how normal people think and how rich people think.

He stresses how life is the MOST IMPORTANT teacher of all.

Rich Dad owns several convenience stores and businesses and employees many people – even though he is a middle school dropout.

Rich Dad talks about how the biggest RISK in life is “PLAYING IT SAFE.”

Ask yourself as you read this, are you PLAYING TO WIN – or ARE YOU PLAYING NOT TO LOSE?

Most people allow their emotions to override their logic when it comes to money.

The emotions of fear and desire are used against most people.

Just like the donkey chasing a carrot, most people keep chasing shiny toys and fear.

Learn to use your emotions to think, not think with your emotions.

The rich use their imagination to think up ways to make money.

The poor just put their head down to the grindstone and never think outside of the box.

They never think of using their money to make more money.

Most poor people have a price, because their lives are controlled by fear and greed.

Rich Dad informed the boys about the importance of CONSTANTLY SEARCHING FOR OPPORTUNITIES.

  • Despite having a good career as a teacher, Poor Dad struggled to make ends meet (Because he wasn’t educated on money)
  • Opportunities can often lie hidden in plain sight.
  • Stop thinking other people are the problem. If others are the problem, you have to change them. If you are the problem, you only have to change yourself.
  • When it comes to money, most people want to play it safe. Playing it safe in 2021 leads to poor returns due to stagnant interest rates and high inflation.


This book was written 20 years ago. The world moves faster and faster then ever before.

The faster you can make a decision the more likely you’ll be able to seize opportunities before other people do.

(This part resonates with me – I could have bought into bitcoin at $400 – but I didn’t take the chance! – Now bitcoin is $40,000)


It’s not how much money you make, it’s how much money you KEEP.

This chapter revisits Kiyosaki and Mike 35 years later. Mike took over his Rich Dad’s business and is doing an even better job.

Kiyosaki retired in 1994 at the young age of 47.

Kiyosaki talks about the 1923 meeting of the richest businessmen and leaders.

25 years later most of them were broke, exiled or in prison.

The Great Depression of 1929 and the stock market crash played a role – but we live in even crazier times nowadays.

The key thing to realize about wealth is this

It’s not how much you make but how much you keep – and how many generations you keep with.”

When People ask Kiyosaki how to start getting rich, he tells them the same thing Rich Dad told him:

“If you want to be rich, you need to be financially literate.”

Imagine trying to build a skyscraper on a slab foundation made for a little house,.

Because most people graduate with little education, they launch into adulthood chasing an American Dream but find themselves DEEP in DEBT.

The only strategy they can see out is a get-rich-quick scheme.

Without a background in financial-literacy, trying to become rich is like building a skyscraper on a swamp.

A weak foundation leads to a shaky structure, no matter how tall.

What you want: The Empire State Building

What you end up with : The Leaning Tower of Pisa.

Accounting is boring, confusing and full of math – it’s also CRITICAL to financial success.

The number 1 rule is as follows:


The true definition between a liability and an asset lies in NUMBERS.

Assets add to your money and put money in your pocket.

Liabilities takes money OUT of your pocket.

To be rich, buy assets.

People struggle because they buy liabilities to SHOW OFF.

If you want to gain wealth, you must begin by gaining wealth of the mind.

The balance sheet of poor people contains NO ASSETS and the following liabilities.




  1. Mortgage Payment/ Rent
  2. Car Loans
  3. Credit Card Debt
  4. School Loans

The balance sheet of a wealthy person looks like this:


  1. Real Estate
  2. Stocks
  3. Bonds
  4. Notes
  5. Intellectual
  6. Property


  1. Mortgage
  2. Consumer Loans
  3. Credit Cards

It’s not just the numbers themselves that matter – it’s the STORY those numbers tell.

People who are in debt think the answer is to make more money.

More money will not necessarily solve their problems.

That’s why many people who get an inheritance or  win the lottery end up broke and miserable a few years later.

An increase in  cash ONLY results in an increase in spending.

I can PERSONALLY testify this.

Back in 2020 I got a career upgrade and my spending quickly rose to reflect my higher income.

The key ingredient that is missing for most people is financial literacy.

That is why they can be professionally successful but still end up struggling with money.

They have the skills required to obtain money – but not how to keep and manage it.

People can be very intelligent and still be stupid when it comes to money.

They know how to work HARD for their money.

But they don’t know how to MAKE their MONEY WORK HARD FOR THEM.

The biggest expense most people pay is taxes.

These people have kids, buy a house, shiny cars, and new furniture and gadgets to fill the house up.

They sink deeper and deeper into DEBT.

They wake up one day and realize the truth.

Like most people, they end up TRAPPED IN THE RAT RACE.

Their true problem is not how much money they make – it’s how they manage the money that they have.

The standard generic advice tells people to play it safe and be RISK AVERSE.

But being RISK AVERSE is actually the biggest RISK OF ALL!

Poor people see their home as their greatest investment.

Rich people see their homes as a liability.

The reason why is this:

A house takes money out of your pocket, and ties up money that could be used for investments.

Investments lead to education and experience.

This doesn’t mean to never buy a house.

This means to first buy assets that will generate sustainable passive income flow that will pay for the house.

When there are enough assets  to make  income to cover expenses and then some, the balance is re-invested into assets.

That is how the rich get richer.

The low and middle-classes get stuck with the uneducated masses in the Rat Race because of their mindset.

Key Takeaways From Lesson 2:

  • Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
  • If you have the habit of spending everything you make,  increased income will only result in increased spending.
  • 80% percent of families believe in hard work. This hard work is for nothing though, because they spend their hard-earned money buying LIABILITIES instead of ASSETS.
  • By not developing a good understanding of money, most people allow the amazing power of money to control them.


“The rich focus on their asset columns while everyone else focuses on their income statements.”

Real Assets recommended by Robert Kiyosaki:

  • Business that do not require my presence, but that I own
  • Bonds
  • Stocks
  • Income generating real estate
  • Notes (IOUS’s)
  • Royalties from intellectual property (books, music, scripts, patents)
  • Anything else that either has value, produces income, has enough demand or APPRECIATES in value.

So many people spend their whole lives working for somebody else.


Way too many people spend their entire lifetimes worrying about someone else’s business and getting them rich.


Minding your business does not mean becoming an entrepreneur or starting your own company for everyone.

Your business revolves around your asset column.

Promotions or a better job will help you ONLY IF the additional money is used to purchase income-generating assets.

The main reason that poor people are risk-averse is because they have no solid financial foundation.

They have to hold tightly to their 9-5 jobs and play it safe.

When hard times come, what the majority thought were assets will  not help them.

A new car loses 25% of its value as soon as its driven off a lot.

Most impulse purchases are not worth much at all.

Start minding your own business.

Keep your 9 to 5 job but start buying real estate assets – NOT liabilities or personal items that have no real value once you own them.

  • Keep Expenses Low
  • Reduce Liabilities
  • Diligently Build a Base of Assets

Acquire assets while working at your job.

Don’t start a company unless you really have the desire to – 90% of businesses fail.

Rich people buy luxuries LAST.

The middle class and poor people buy luxuries with TEARS, BLOOD, SWEAT and their children’s inheritance.


“My rich dad just played the game SMART, and he did it through corporations – the biggest secret of the rich.”

Many people view Robin Hood as a hero – taking from the rich and giving to the poor.

Rich Dad saw Robin Hood as a crook.

Although people believe the rich should be taxed, in reality it is the middle class that gets taxed the most.

Income tax was designed to punish the rich initially. Eventually, it ended up punishing the people who voted for it most – the middle class and poor.

Companies are rewarded by their investors for savings.

The government is rewarded for spending.

The government avoids having excess money.

Business people are rewarded for having extra money and commended for their efficiency.

A corporation is just a piece of legally binding paper that creates an entity.

It doesn’t actually exist, but offers a lower tax rate than individual people have.

Certain expenses can also be written off as pre-tax dollars.

The problem with a job is the harder you work a job, the more you must pay the government.

Trying to punish rich people rarely works because rich people find ways to minimize taxes.

The tax man is a bully and a thief.

Smart attorneys and tax men are worth their cost -and cheaper than paying Uncle Sam.

Financial IQ is what makes escaping the Rat Race possible.

Financial IQ Consists of Four Things:

  1. Accounting – Financial Literacy – The ability to read and evaluate numbers
  2. Investing – The Strategy and Art of making money
  3.  Understanding markets (Like the Law of Supply and Demand.)
  4. Knowledge of Laws – How to take advantage of taxes and protections.

A corporation can pay expenses first, while an employee gets taxed first.

Corporations offer legal protection from lawsuits.

“If you work for money – you give power to your employer.”

“If money works for you, you keep the power and control it.”


Kiyosaki compares and contrasts 1) Alexander Graham bell trying to sell his company to Western Union (and was turned down) with a TV news manager

begging in front of the cameras for his job because he was terrified to lose it.

All human beings possess some degree of fear and self doubt.

We all have tremendous potential – and we all have self-doubt.

Courage makes the difference in leading a successful life.

Knowing the answers but failing to act them.

Be bold and take risks. Let your genius convert fear into power.

So many play it safe.

You’ll see opportunities and act on them, as opposed to those who allow fear to paralyze them.

Increasing your financial IQ allows you to see changes through the lens of excitement, instead of fear.

Some people cling to old ideas and struggle – blaming the economy or technology.

Some people in life have plenty of money but don’t know what to do it

Most people in life complain that they don’t have the right cards and just sit still.

Some have a great card but don’t act on it.

Other people have the money and get a great card but don’t see the opportunity for what it is.

Luck is created – the harder you work, the luckier you will get.

Money isn’t your greatest asset – Your Mind is.

Saving money each month sounds good on paper, but it can blind you to economic opportunities for much bigger growth.

The world always hands people opportunities of a lifetime – you simply need to train yourself to see them.

Plant seeds in your asset column. Start with little amounts.

Some will bloom, some won’t

Some can grow into millions from small beginnings.

Their are two types of investors :

  1. Those who buy pre-made investment plans from a retail outlet (Think Charles Schwab)
  2. Professional Investors

To become an investor you must develop three critical skills:

  1. First, find the opportunities that everyone else missed.
  2. Second, raise money.
  3. Third, Organize smart people and hire those with more intelligence than you

“Often in the real world, it’s not the smart who get ahead, but the bold.”

“Excessive fear and self-doubt are the greatest detractors of personal genius.”

“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth seemingly instantaneously.”

“Great opportunities are not seen with your eyes. They are seen with your mind.”


“Job Security meant everything to my educated dad – Learning meant everything to my rich dad.”

Too many people specialize in one field. If we would just expand our skillsets, our income would shoot up like a rocket.

The problem with money is the only skill most people know is to work hard.

The majority of people work hard to get a secure job, focusing only on the money and short-term benefits.

Instead, what they should do is seek employment that will give them the skills they need.

In other words, adopt a long-term view instead of a short term one.

Take the job that will make you a more valuable person long term.

The majority of people will resist this.

People will do more to avoid pain then seek pleasure.

If you insist on taking a non-specialized job make sure that you work for a company with a union.

Otherwise, you can be replaced at any moment – you are DISPOSAL.

Boomers considered it bad to move from company to company.

Today – it is the norm. You’ve got to switch jobs every 3 to 4 years to keep getting raises, learn more and be more valuable.

The main management skills needed to be rich are:

  1. Management of Cash Flow
  2. Management of Systems
  3. Management of People

Most people are terrible at marketing and selling, mostly due to their inability to handle rejection.

The Bottom Line:

  • It may not be logical by the numbers to leave a well-paying job for one that pays less. But the skills that you acquire in the long run will give you bigger numbers long term.
  • Acquiring skills outside of your narrow profession will help you.
  • What you fear doing most is the skill you need to learn and conquer – EVEN IF YOU MUST FORCE YOURSELF!


“The primary difference between a rich person and a poor person is how they manage fear.”

The Five Reasons That Hold People Back From Cash Flow:

  1. Fear
  2. Cynicism
  3. Laziness
  4. Bad Habits
  5. Arrogance


Overcoming Fear:

It is perfectly natural to feel fear.

Fear is only dangerous when you allow it to paralyze you.

In other words, you must FEEL THE FEAR AND DO IT ANYWAYS!

Kiyosaki recommends you adopt the mindset of a Texan:


Just like the Texans at the Alamo – Be inspired by your defeats – NOT crushed by them.

Winners get inspired by losing.

For Losers, losing defeats them.

Most people PLAY LIFE NOT TO LOSE – when they really should be PLAYING TO WIN.

Improving your assets doesn’t take hard math – it takes courage, faith and the proper attitude towards failure.

Overcoming Cynicism:

Whether its our own whispers or the doubts of other people, we often allow doubt to paralyze us into inaction.

We play it safe as opportunities pass us by.

It takes great courage and backbone to not let gloom and doom and the fear of the masses to INFECT you.

The smart man knows that the time to buy is when everyone else is panicking and frozen in fear.

Doubt and cynicism are the sworn enemies of wealth.

They keep most people poor.

“Cynics criticize, and winners ANALYZE.” 

Winners keep their eyes open and see the hidden opportunities others miss.

Real Estate is a powerful investment vehicle for anyone who wants to become wealthy.

Yet people fixate on the minor inconvenience of having to fix a toilet.

Focusing on toilets keeps them in the gutter.

Many people stay out of stock markets.

But they are keeping themselves from generating profits by closing off their mind to that possibility.

Overcoming Laziness:

The most common form of laziness?

Staying busy.

What’s the cure?


Greed is good , despite the lies church, society ,and your teachers and parents told you.

INSTEAD OF SAYING “I CAN’T AFFORD IT”, change your mindset.

Learn to say “HOW CAN I AFFORD IT?”

This will strengthen your mind and create a spirit of how to accomplish the task.


Always remember – most of the time whatever society tells you is bad is actually GOOD.

Overcoming Bad Habits:

To become successful – you’ve got to develop success habits.

Poor dad paid everyone else and himself last.

Rich Dad always paid himself first – NO MATTER WHAT.


People use ARROGANCE to hide their IGNORANCE.

Ignorance is not bad – as long as you react by educating yourself.


  • Don’t criticize – ANALYZE
  • Overcome bad habits by PUTTING NEW ONES in PLACE
  • Fear of failure keeps people out of the game – Let the fear of failure inspire you to success


“There is gold everywhere – Most people are not trained to see it.”


  1. Find a reason greater than reality: the power of spirit
  2. Make daily choices: the power of choice
  3. Choose friends carefully: the power of association
  4. Master a formula and then learn a new one: the power of learning quickly
  5. Pay yourself first: the power of self-discipline
  6. Pay your brokers well: the power of good advice
  7. Be an Indian giver: the power of getting something for nothing
  8. Use assets to buy luxuries: the power of focus
  9. Choose heroes: the power of myth
  10. Teach and you shall receive: the power of giving


  1. Stop doing what you’re doing. – Take a break and asses what is and isn’t working. Insanity is doing the same thing over and over and expecting different results
  2. Look for new ideas. – Research new formulas and studies to increase your knowledge. Buy books and learn new formulas that can make you money.
  3. Take classes, read, and attend seminars. – Become an eternal student. Learn from the masters.
  4. Make lots of offers. – Don’t put all your eggs  in one basket.
  5. Jog, walk, or drive a certain area once a month – You can find good deals, notice differences and see opportunities you would otherwise miss.
  6. Shop for bargains in all markets – Consumers will always be poor.  Profits are made buying –  not selling. People will buy toilet paper on sales – WHY NOT HOUSES or INVESTMENTS?
  7. Look in the right places –  Profit is made WHEN YOU BUY – NOT WHEN YOU SELL
  8. Look for people who want to buy 1st – Look for someone who wants to sell 2nd. – Buy the pie and cut into pieces.
  9. Think Big – Small people remain small because they think small, act alone, or don’t act at all.
  10. Learn  from history – Those who ignore history are doomed to repeat it.
  11. Action always beats inaction. – The most important words are “have done” and “do”. You must take action before you can receive the rewards – NOW!


Rich Dad Poor Dad is my favorite financial book of all time. It’s a book you need to read , reread and listen to over and over again.

It’s not a book you just read once and shut.

If you apply the principles within and grow a strong backbone, and make it happen.

You deserve to be Rich!

Purchase Rich Dad Poor Dad Here



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