If you ever went on Google to search for terms like “best personal finance books” or “best book on money”, then, you’ve most likely seen the book Rich Dad, Poor Dad by Robert T. Kiyoshi appear at the very top of the search results.
Robert T. Kiyosaki is an American businessman, investor, bestselling author, and motivational speaker. He’s also the founder of the Rich Dad Company and has an estimated net worth of about $80 million.
But before becoming such a wild success, Robert had pretty humble beginnings. As he recounts in his personal finance classic, Rich Dad, Poor Dad, he grew up with two father figures.
Both fathers worked hard their entire lives, were successful in their respective careers, and earned substantial incomes.
However, one of them — Robert’s real, biological father– always struggled financially while the other one went to become one of the richest men in Hawaii despite starting with little.
Early on, Kiyosaki noticed fundamental differences in the way his “rich dad” and his “poor dad” thought, spoke, and acted.
He noticed that his poor dad was poor, not because of the amount of money he earned (which was quite significant), but because of what he thought and believed about money.
In this post, I want to share some inspiring and lesser-known quotes I found in Rich Dad, Poor Dad which I strongly recommend you read.
Reading a book like this one forms part of the process of becoming a better trader.
To increase your chances of success in the market, you need a particular understanding of money, a mindset that helps you attract it, and an ability to manage it better and multiply it with greater ease.
And this book will help you with that.
With that said, without further ado, here are 40 insightful quotes from Rich Dad, Poor Dad by Robert T. Kiyosaki
A person can be highly educated, professionally successful, and financially illiterate.
Money is just an idea.
Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.
The primary difference between a rich person and poor person is how they manage fear.
Failure inspires winners. Failure defeats losers.
Often in the real world, it’s not the smart who get ahead, but the bold.
Cash flow tells the story of how a person handles money.
Financial struggle is often the result of people working all their lives for someone else.
An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.
The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.
Simple math and common sense are all you need to do well financially.
Many financial problems are caused by trying to keep up with the Joneses.
In today’s fast-changing world, it’s not so much what you know anymore that counts, because often what you know is old. It is how fast you learn. That skill is priceless.
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.
Sight is what you see with your eyes, vision is what you see with your mind.
Keep expenses low, reduce liabilities, and diligently build a base of solid assets.
Most people never get wealthy simply because they are not trained financially to recognize opportunities right in front of them.
I’d rather welcome change than cling to the past.
People’s lives are forever controlled by two emotions: fear and greed.
To be a successful business owner and investor, you have to be emotionally neutral to winning and losing.
Emotions are what make us human. Make us real. The word ’emotion’ stands for energy in motion. Be truthful about your emotions, and use your mind and emotions in your favor, not against yourself.
The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.
If you realize that you’re the problem, then you can change yourself, learn something and grow wiser. Don’t blame other people for your problems.
I am concerned that too many people are focused too much on money and not on their greatest wealth, which is their education.
Money without financial intelligence is money soon gone.
Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep.
If fear is too strong, the genius is suppressed.
When you come to the boundaries of what you know, it is time to make some mistakes.
The richest people in the world build networks; everyone else is trained to look for work.
If you work for money, you give the power to your employer. If money works for you, you keep the power and control it.
Skills make you rich, not theories.
Leverage is the reason some people become rich and others do not become rich.
A plan is a bridge to your dreams.
The more a person seeks security, the more that person gives up control over his life.
One of the most important things a real investor needs to say is this; “I want my money back and I also want to keep my investments.
If you’re still doing what mommy and daddy said for you to do (go to school, get a job, and save money), you’re losing.
Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
There is always risk, so learn to manage risk instead of avoiding it.
The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.
Find the game where you can win, and then commit your life to playing it; and play to win.
Thanks for reading. Rich Dad Poor Dad by Robert Kiyosaki is a treasure trove of insights, and as said earlier, I really think reading the book is an important step on your path to success in the market.
Get the book here.
Disclaimer: All purchases made through this link generate a 4-8 percent return through my Amazon Affiliates account at no extra cost to you. I donate 100% of the revenue to charity ―this year, the Against Malaria Foundation.