Robert T. Kiyosaki
Rich Dad Poor Dad
One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school. (Location 234)
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“My house is a liability, and if your house is your largest investment, you’re in trouble.” (Location 266)
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The 2008 housing market crash was a clear message that your personal residence is not an asset. Not only does it not put money in your pocket, but we cannot count on the fact that it will go up in value. (Location 270)
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“I’m a rich man, and rich people don’t do this.” (Location 285)
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“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” (Location 286)
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“Money is power.” (Location 288)
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“I don’t work for money!” were words he would repeat over and over. “Money works for me!” (Location 297)
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LESSON 1: THE RICH DON’T WORK FOR MONEY (Location 325)
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The poor and the middle class work for money. The rich have money work for them. (Location 327)
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If you can’t make up your mind decisively, then you’ll never learn to make money anyway. Opportunities come and go. Being able to know when to make quick decisions is an important skill. (Location 437)
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“But that is not how life teaches you, and I would say that life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying, ‘Wake up. There’s something I want you to learn.’” (Location 506)
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People do two things. Some just let life push them around. Others get angry and push back. (Location 513)
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Deep down you were terrified of taking risks. You really wanted to win, but the fear of losing was greater than the excitement of winning. (Location 530)
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Most people want everyone else in the world to change but themselves. Let me tell you, it’s easier to change yourself than everyone else.” (Location 547)
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“That’s what the other people do. But that’s all they do, waiting for a raise thinking that more money will solve their problems. Most just accept it, and some take a second job working harder, but again accepting a small paycheck.” (Location 557)
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“This stuff between your ears.” (Location 561)
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The poor and the middle class work for money. The rich have money work for them. (Location 564)
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Buying or building assets that deliver cash flow is putting your money to work for you. High-paying jobs mean two things: you’re working for money and the taxes you pay will probably increase. I’ve learned to put my money to work for me and enjoy the tax benefits of generating income that doesn’t come from a paycheck. (Location 569)
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true learning takes energy, passion, and a burning desire. Anger is a big part of that formula, for passion is anger and love combined. (Location 576)
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When it comes to money, most people want to play it safe and feel secure. So passion does not direct them. Fear does.” (Location 577)
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Most people, given more money, only get into more debt.” (Location 582)
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“If you want to learn to work for money, then stay in school. That is a great place to learn to do that. (Location 592)
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“simply because it’s easier to learn to work for money, especially if fear is your primary emotion when the subject of money is discussed.” (Location 594)
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Just know that it’s fear that keeps most people working at a job: the fear of not paying their bills, the fear of being fired, the fear of not having enough money, and the fear of starting over. That’s the price of studying to learn a profession or trade, and then working for money. Most people become a slave to money — and then get angry at their boss.” (Location 596)
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“Taxes,” said rich dad. “You’re taxed when you earn. You’re taxed when you spend. You’re taxed when you save. You’re taxed when you die.” (Location 613)
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I already know that my study of money will continue over my lifetime, simply because the more I find out, the more I find out I need to know. Most people never study the subject. (Location 625)
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every person has a weak and needy part of their soul that can be bought, and he knew that every individual also had a part of their soul that was resilient and could never be bought. It was only a question of which one was stronger. (Location 678)
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People’s lives are forever controlled by two emotions: fear and greed. (Location 680)
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So many people say, “Oh, I’m not interested in money.” Yet they’ll work at a job for eight hours a day. (Location 734)
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Be truthful about your emotions and use your mind and emotions in your favor, not against yourself.” (Location 740)
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“For example,” said rich dad. “If the fear of not having enough money arises, instead of immediately running out to get a job, they instead might ask themselves this question: ‘Will a job be the best solution to this fear over the long run?’ In my opinion, the answer is no. A job is really a short-term solution to a long-term problem.” (Location 748)
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Most people use fear and greed against themselves. That’s the start of ignorance. Most people live their lives chasing paychecks, pay raises and job security because of the emotions of desire and fear, not really questioning where those emotion-driven thoughts are leading them. It’s just like the picture of a donkey dragging a cart with its owner dangling a carrot just in front of its nose. The donkey’s owner may be going where he wants to, but the donkey is chasing an illusion. Tomorrow there will only be another carrot for the donkey.” (Location 778)
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“You mean the moment I picture a new baseball glove, candy and toys, that’s like a carrot to a donkey?” Mike asked. “Yes, and as you get older, your toys get more expensive — a new car, a boat, and a big house to impress your friends,” said rich dad with a smile. (Location 782)
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To spend your life living in fear, never exploring your dreams, is cruel. (Location 796)
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all too often business schools train employees to become sophisticated bean-counters. (Location 817)
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“Learn to use your emotions to think, not think with your emotions. (Location 821)
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I constantly work to control my thoughts and my emotions. I’ve seen this play out over and over in my life: When emotion goes up, intelligence goes down. (Location 838)
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Rich dad went on to explain that the rich know that money is an illusion, truly like the carrot for the donkey. It’s only out of fear and greed that the illusion of money is held together by billions of people who believe that money is real. It’s not. Money is really made up. It is only because of the illusion of confidence and the ignorance of the masses that this house of cards stands. (Location 851)
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The moment you see one opportunity, you’ll see them for the rest of your life. (Location 863)
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It’s not how much money you make. It’s how much money you keep. (Location 990)
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Our assets are large enough to grow by themselves. It’s like planting a tree. You water it for years, and then one day it doesn’t need you anymore. (Location 995)
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Money without financial intelligence is money soon gone. (Location 1013)
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it’s not how much money you make. It’s how much money you keep. (Location 1014)
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“If you want to be rich, you need to be financially literate.” (Location 1024)
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Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets. (Location 1036)
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You must know the difference between an asset and a liability, and buy assets. (Location 1044)
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Keep It Simple, Stupid (Location 1060)
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Keep It Super Simple) (Location 1060)
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An asset puts money in my pocket. A liability takes money out of my pocket. (Location 1066)
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“The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.” (Location 1073)
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