Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”

“I don’t work for money!” were words he would repeat over and over. “Money works for me!”

The poor and the middle class work for money. The rich have money work for them.

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

It’s not how much money you make. It’s how much money you keep.

Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.

Rule #1: You must know the difference between an asset and a liability, and buy assets.

An asset puts money in my pocket. A liability takes money out of my pocket.

When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.

Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive?

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

Financial struggle is often the result of people working all their lives for someone else.

Start minding your own business. Keep your daytime job, but start buying real assets, not liabilities.

If you work for money, you give the power to your employer. If money works for you, you keep the power and control it.

Each dollar in my asset column was a great employee, working hard to make more employees and buy the boss a new Porsche.

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

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

It is not gambling if you know what you’re doing. It is gambling if you’re just throwing money into a deal and praying.

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

“You want to know a little about a lot” was rich dad’s suggestion.

Job is an acronym for “Just Over Broke.”

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

For most people, the reason they don’t win financially is because the pain of losing money is far greater than the joy of being rich.

Failure inspires winners. Failure defeats losers.

Rich dad believed that the words “I can’t afford it” shut down your brain. “How can I afford it?” opens up possibilities, excitement, and dreams.

If I pay myself first, I get financially stronger, mentally and fiscally.