Rich Dad, Poor Dad by Robert T. Kiyosaki
Themes: Money, Investing, True Wealth
Read When: You have limiting beliefs about money, complicated relationships with wealth, a desire for more but a general feeling of hopelessness for your financial situation to ever change.
Favorite Quotes:
“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”
“In the real world outside of academics, something more than just grades is required. I have heard it called "guts," "chutzpah," "balls," "audacity," "bravado," "cunning," "daring," "tenacity" and "brilliance." This factor, whatever it is labeled, ultimately decides one's future much more than school grades.”
“We all have tremendous potential, and we all are blessed with gifts. Yet, the one thing that holds all of us back is some degree of self-doubt. It is not so much the lack of technical information that holds us back, but more the lack of self-confidence.”
“It is said that the fear of public speaking is a fear greater than death for most people. According to psychiatrists, the fear of public speaking is caused by the fear of ostracism, the fear of standing out, the fear of criticism, the fear of ridicule, the fear of being an outcast. THE FEAR OF BEING DIFFERENT PREVENTS MOST PEOPLE FROM SEEKING NEW WAYS TO SOLVE THEIR PROBLEMS.”
“Whenever you feel ‘short’ or in ‘need’ of something, give what you want first and it will come back in buckets. That is true for money, a smile, love, friendship. I know it is often the last thing a person may want to do, but it has always worked for me. I just trust that the principle of reciprocity is true, and I give what I want.”
“If fear is too strong, the genius is suppressed.”
Key Takeaways: Rich Dad, Poor Dad is an enlightening book with a fascinating dichotomy of Kiosaki’s upbringing with one poor dad (his own father) and one rich dad (his best friend’s father). You have likely never heard wealth and investments approached in this way. It is a classic and a must read, especially for those who have a poor (no pun intended) psychological relationship with money.