Rich Dad, Poor Dad

This is a summary of Rich Dad Poor Dad Chapter 1

In the first chapter, titled Rich Dad Poor Dad, Robert Kiyosaki explains the difference between the two fathers that he had while growing up. There is a completely different mindset between the two fathers on the subject of money and life in general. Since money is not taught in schools, it is generally learned at home. This is the reason why the rich get richer and the poor and middleclass struggle. While the rich teach their children the ways of the rich, the only thing the other classes can say to their children is "go to school and get a job." Since Kiyosaki had the luxury of two fathers to learn from, he was able to see both sides and choose for himself which advice to follow.

Kiyosaki's real father, Poor Dad, supported the traditional view of money and finances. He was a highly educated and successful college graduate with several degrees. In fact, early in his career, he was not poor. As far as money is concerned, Poor Dad closed his mind to the subject. He would often say things such as "The love of money is the root of all evil" or "I can't afford it." In his mind, his company and the government were supposed to take care of him. He often talked about things such as retirement, vacations, pay raises, and other perks that he received as an employee. Poor Dad's approach to the subject of money is what Kiyosaki describes as lazy. He never expended any effort thinking of money outside of what he felt he was "entitled" to as a hard working employee and citizen.

Unlike Poor Dad, Rich Dad valued money. He would often say things such as "The lack of money is the root of all evil" or ask "how can I afford it." Rich Dad believed that people should be self-reliant and not dependent on a company or the government for financial stability. According to Kiyosaki, Rich Dad "spoke out against the 'entitlement' mentality and how it has created weak and financially needy people." Also, Rich Dad had a habit of exercising his brain. In his mind, this "exercise" made his brain stronger, which lead to more money. Early in his career, Rich Dad was not rich. However, that did not stop him from always referring to himself as a "rich man." He covered himself by noting the difference between being broke and being poor: "Broke is temporary, Poor is eternal."

Though this is supposed to be just a summary of Rich Dad Poor Dad, I want to point out what I think is the most important concept in the entire book. In this quote from Robert Kiyosaki, he emphasizes the power of thought and its effect on our lives:

"The power of our thoughts may never be measured or appreciated, but it became obvious to me as a young boy to be aware of my thoughts and how I expressed myself. I noticed that my poor dad was poor not because of the amount of money he earned, which was significant, but because of his thoughts and actions."

The reason I think this quote is significant is because the concept is present in many great books and used by many great people to achieve success. On a very strong level, it is a fact that our thoughts are what ultimately shape our lives. Simply put, "thoughts become things."

Click Here to find Rich Dad Poor Dad on Amazon. It's well worth it. Though I will cover many important concepts, there are also many that I will have to leave out. This book is packed full of vital information.