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Rich Dad, Poor Dad: Lessons [index of reviews]
This is not intended to be a comprehensive book review. It is commentary on what I've found useful for my personal situation and mind set. Any text in green is a direct quoted from the book. All other text is my observations and reactions.
Chapter One of this book is where Kiyosaki introduces his two dads - his biological father, and the father of his best friend. However, each man thought of money in a completely different way than the other, which lead to the Rich Dad, Poor Dad comparison.
Using quotes from this chapter, I've created a table that shows the different mind set of these men.
| Rich Dad |
Poor Dad |
| "How can I afford it?" |
"I can't afford it." |
| "The lack of money is the root of all evil." |
"The love of money is the root of all evil." |
| "Taxes punish those who produce and reward those who don't produce." |
The rich should pay more in taxes to take care of those less fortunate. |
| "Study hard so you can find a good company to buy." |
"Study hard so you can find a good company to work for." |
| "The reason I must be rich is because I have you kids." |
"The reason I'm not rich is because I have you kids." |
| Encouraged talking about money and business at the dinner table. |
Forbade the subject of money to be discussed over a meal. |
| "Learn to manage risk." |
"When it comes to money, play it safe, don't take risks." |
| "My house is a liability, and if your house is your largest investment, you're in trouble." |
"Our home is our largest investment and our greatest asset." |
| Believed in total financial freedom. |
Believed in job protection and job benefits. |
| Created new investments. |
Struggled to save a few dollars. |
| Taught [Kiyosaki] how to write a strong business and financial plan so [Kiyosaki] could created jobs. |
Taught [Kiyosaki] how to write an impressive resume so [Kiyosaki] could find a good job. |
| "I'm a rich man." |
"I'll never be rich." |
| "Money is power." |
"Money doesn't matter." |
And the following line sums up all of the above very well:
"There is a difference between being poor and being broke. Broke is temporary, and poor is eternal." (pg. 16)
On to Lesson #1: The Rich Don't Work For Money
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