Rich Dad’s success story – Book summary by Robert T Kiyosaki

Book : Rich Dad’s success story

Author: Robert T Kiyosaki &  Sharon Letcher 

 

Rich Dad's success story - Book summary by Robert T Kiyosaki

 

About this Book

Do you run out of money frequently?  Do you want to know how to become rich?  There are different stories in this book which tell how people achieved financial success.  All he had to do was follow Rich Dad’s advice. Rich Dad’s success story

Many people have become rich from poor.  you can also do this.  This book will guide you.  Learn more and earn more with the help of this book.

Rich Dad's success story - Book summary by Robert T Kiyosaki

Who should read this summary?

  •    college students
  •    Employees
  •    laborer
  •   Earning members of the         family

 About the author – Rich Dad’s success story

Robert T. Kiyosaki is the author of the bestselling book “Rich Dad, Poor Dad”.  Robert is also the founder of Rich Dad Company.  The goal of this company is to teach people about personal finance with the help of books and videos.  Robert lives in Phoenix, Arizona with his wife Kim Kiyosaki.

 

Rich Dad's success story - Book summary by Robert T Kiyosaki

Introduction

If someone is financially secure, that is, financially strong, then what are the secrets behind it?  Could it be that we don’t always worry about money?  How do rich people stay rich?

There is no one formula to stay financially sound.  And, that’s what those who read Rich Dad have learned.  He has learned to follow the path shown by Rich Dad.  Considering this, people also made many improvements.  In this book, you will know how he did it all.  You will know how to make the best use of your situation. Rich Dad’s success story

Are you ready to write your own success story?

Money matters – Rich Dad’s success story

Everyone wants to be financially strong.  Life would be so much better if you never had to think about financial problems.  Rich Dad is here to tell you that it is impossible for this to happen.  Many people are living the life you want for yourself.  No, they were not financial experts. Nor did they have a lot of money to back up.  These people also started out as simple as you.

From whom he got his financial security, that is ‘cashflow’.  Cashflow is a board game created by Robert Kiyosaki.  You must be laughing how absurd these are.  But these are true.  Understanding money matters is easier than cashflow.  Specifically, it teaches you how to think like a rich man.  Many people playing Cashflow were surprised by its benefits.  It taught people new things to invest.  This forced him to rethink his relationship with money.

 

Ed and Terry Coleman’s story

Let’s listen to the story of married couple Ed and Terry Coleman.  Like many people, Ed’s parents were irresponsible when it comes to money.  Ed’s parents didn’t talk to him about the need to spend money wisely.  As soon as Ed got the money, he would spend it.

Ed had dropped out of college in half.  Terry also left his college studies in the middle.  In those days, education was not considered necessary.  In the 1960s, it was common to be a hippie and, for a hippie, money was a waste.  According to him, this money was a way of capitalists to make the common people greedy.  Ed and Terry were hippies, and they only believed in sharing love.  He didn’t care about money at all.

This couple continued to live their life like this.  He took the job only so that he only had the money to survive.  Earning more came at the bottom of his plan.  And there, spending money came first.  His reckless thinking changed when his son Jake was born.

Terry panic.  He thought what would happen to his family after twenty years?  Will they be able to survive if they don’t have money to spare?  For the first time ever, the couple thought deeply about their future.  He realized that he now needed to increase his intelligence.

His business journey started with talking to the dad of a kid on the playground.  Ed was watching his son Jake while he was playing with the other kids.  Eventually, Ed and the man started talking.  The other dad worked in network marketing.  This caught Ed’s attention.  From there, Ed and Terry started attending several business seminars.  He also wrote his name for sales training.  He also read books on personality and self development.  Both of them had become financial experts.

 

 

Rich Dad's success story - Book summary by Robert T Kiyosaki

 

Terry started their work

After getting the information, Ed and Terry started their work in investment.  Ed received a few thousand dollars after his grandparents passed away.  He used it to invest in the shares of some trusted companies.  In three years, his investment grew to an astonishing $80,000.  But here Ed messed up.  He did not closely monitor the ups and downs of the stock market.  He did not even hire an advisor to help him.  When the market fell, his portfolio reached $46,000.  Ed and Terry lost about 50% of their investment.

The above must have had a hand because the next day, the couple looked at the book “Rich Dad, Poor Dad”.  He started following all the advice written in it.  They also started playing cashflow.  The financial information had made him even more confident.  One day, Ed and Terry heard about housing deals.  It matched cashflow, so they decided to go for housing deals.

Their desire to learn more helped Ed and Terry’s real estate business go well.  Whatever knowledge he had, the skills he had, Cashflow made him even more polished.  He also took constant advice from the financial advisor.  His properties had become a way of income for him.

Ed and Terry were successful.  It took them time to know how this financial world works.  But he persevered for it and got a big reward for it.  Now he could think about the future without worrying.  His life had changed due to financial security.

 A different kind of education – Rich Dad’s success story

Money is related to the feelings of the people.  In this case some people get excited, some get nervous and some get upset.  Because of Rich Dad, Poor Dad, many people reading this have changed.  He was no longer afraid to talk about money.  Now they did not have money, but they used to run the money.

Valerie Collymore was very intelligent.  His medical career went well.  But when it came to money, she felt herself a failure.  She wanted to make money by taking financial risk.  But the fear of failure always followed him.  So Valerie had chosen a secure life for herself.  His career gave him a slow but safe financial future.

One day, Valerie met some people who changed her view of money.  These people were from very simple background.  But he was very rich.  That day, Valerie adopted a new approach.  No degree and diploma can help you become smart in terms of money.  If you do not want to take some risk, then you can do a job which can come from your degree.  But Valerie decided to move on.  She wanted a good financial future.

Valerie decided to increase her knowledge about money.  He read Rich Dad, Poor Dad.  It made her realize how much she didn’t know.  Valerie and her family were doing well for themselves and had enough money to live a good life.  But Valerie admitted that her lifestyle was not right.  He wasted a lot of money just because he knew he had money.

Rich Dad’s success story

The future of his family was not sure or secure.  Valerie quit her job as a child specialist to focus on her daughters.  What if her husband, who is also a doctor himself, quits his job?  Valerie was very bad in matters of money.  Even his knowledge of the medical field could not help him in balancing his expenses and income.  But Rich Dad, Poor Dad gave Valerie the financial knowledge she needed.  She was no longer afraid to talk about financial security.

When faced with financial problems, Valerie was ready.  Whatever questions were in his mind, he asked and read about it.  Previously, Valerie was afraid of these things.  But Rich Dad, Poor Dad taught him to read.  If she didn’t know about something, Valerie would have looked it up online.  Often, she also took the advice of a trusted friend who was knowledgeable about financial matters.  Valerie finally realized that her fear of money could be solved.  They just need to be aware of it.

Better than winning the lottery- Rich Dad’s success story

Knowledge helps you become who you want to be.  If you study law, you can become a lawyer.  If you study medicine, you can become a doctor.  Getting financial freedom is a good feeling.  They give you a path to other options apart from your degree.  You may be afraid to leave your field.  Why leave settled work, isn’t it?  But know that there is more to you.  Do you know you are closer than you think you are to financial security?  Dare to take the risk.
 You can see yourself in Thomas Kotula.  Thomas used to do different types of jobs so that he could run his life.  He was not happy with his work.  But he had to do this to survive.  Thomas knew that something better was written for him.  But he did not have the courage to seek that better.  Thomas’ bank account was empty.  There was nothing left in his retirement account.  But after reading Rich Dad, Thomas reversed it.  He had $90,000 in his bank account.  He had now got so much money that he was sure that he could retire at the age of 40.

Play cashflow

Now what happened that made such a difference?  Thomas also got involved in real estate.  Like Ed and Terry, they had read about it. They also played Cashflow.  Real estate was not much new to Thomas.  After all, he had played Cashflow quite a few times.
 Eventually, Thomas had 5 houses.  Income kept coming to him because tenants kept coming to him continuously.  He used to get $600 per month from each house, which would increase every three years.
 Of course, things were not so easy before.  Thomas had to choose which properties to buy.  Sometimes those expenses also came to the fore which they did not even realize.  But Thomas succeeded.  He kept reading Rich Dad, Poor Dad.  He kept playing cashflow game with his family.  When he was stuck in a problem, he asked for help.  Thomas realized how important it was to have financial knowledge.  Don’t feel ashamed to ask for help.  It doesn’t matter if you don’t have the answers to everything.
 Now, Thomas lives his life believing that if you don’t see yourself becoming rich, you will never be a rich man.  People have always relied on easy ways to keep a lot of money such as lotteries.  But with luck you will not be able to reach anywhere.  You have thousands of opportunities, you just have to take advantage of them.

 The sooner the better

Important massage for everyone 👇👌
Age is not there yet, with such thinking you should not stop your financial freedom.  You don’t have to earn money to start thinking about money.  You can set your financial goal as soon as possible.  Yes, even if you are still a student.  After reading Rich Dad, so many young people have done the same.  He was successful in earning indirect income.  When he played Cashflow, his knowledge increased even more than before.  These young people have a lot of courage and they are not afraid to fail.  They know that their failure can become the reason for their success.
Rich Dad's success story - Book summary by Robert T Kiyosaki

Learn about finance and liabilities

There is an opportunity hidden in your every rupee.  Your pocket money can make you an asset.  Investing gives benefits.  You have to learn new and unfamiliar words like finance and liabilities.  You can start securing your finances in your youth.
 Allison Kubala heard Rich Dad Poor Dad when she was about nine years old.  On the way to school, Alison’s mother used to play the audio tap of this book.  This made Allison’s thinking for money.  Being young did not mean that his only means of “income” was his allowance.  From that book she realized that she can start a business.
 When she didn’t have classes, Allison would walk around her neighborhood selling decorated stones and candles.  No matter how young she was, Allison still managed to make money.  She also kept an account of her expenses and earnings.
 Afterwards, Alison stopped going from house to house.  He knew the magic of the Internet.  His mother helped him build a website for him.  From there, Allison began selling her own handmade decor items.  With his earnings, Allison made business cards.  He gave this card to everyone in the school and church.  Alison’s business is going well.  Its cost is usually between 20 and 30 dollars.  So far, she has earned around $60.  This is not a bad start for someone’s new business.  Especially for such a young man!

A new strategy- Rich Dad’s success story

 Attitude is everything.  Let’s say you’re afraid to jump at every penny.  But, how can you be financially secure with all this fear?
 You will be surprised to know that this is a common problem, even for those who deal with personal finance.  Yes, they can be good when it comes to handling client’s money.  But such people also struggle in matters of their personal finances.
 Brian Eaglehart was drowning in debt.  His student loan and car loan was running.  On top of that, he was spending money in debt.  And yet, Brian was living his life as a financial consultant.  How could there be such a difference in his personal and professional life?
 Then, in front of Brian came Rich Dad, Poor Dad.  He also bought Cashflow.  Rich Dad explains how to make simple but effective money.  Next, Brian bought and read Rich Dad’s Retire Young, Retire Rich.  It made him realize what his weakness was in terms of money.
He took control of money in his own hands and changed his situation.  Now he was able to save about $ 400 every month.  He even had money to give to charity.  Brian realized that he had to take action.  There were many opportunities to get rich.
 So, he looked at real estate properties in Portland.  Brian made a list of the properties he liked.  From 75 she chose only 1 single-family house.
 He bought it in 2002.  Of course, he didn’t do it all alone.  Brian constantly sought advice from trusted people.
He had a tax consultant, a lawyer and a real estate agent.  Brian calculated that he can start earning from this house after two years.
 Financial security had made Brian’s life better.  He was no longer worried about his future.  In fact, he was waiting for his future.  Brian’s past financial decisions helped him move forward.  Initially, he was ashamed that he did not manage his money properly.  But this thing inspired him to do better.

 Better chances

 Repeat this line every day – “Don’t work for money, get yourself working with money.”  If you are ignorant then this piece of paper makes you a slave.  Even if you are afraid, you can become a slave to this money.  You are afraid of lack of money, and your fear prevents you from getting financial security.  Take the strings of your life in your hands.  Think thoughtfully but dare to take big steps.  You might get what you want.
 Stacy Baker had a very bad outlook on life.  Because of this attitude, his thinking also got spoiled.  He did not even complete high school.  Stacy was also a single mother.  He thought that life would never be better.  Stacy felt that she would be stuck in this kind of life forever.

Rich dad changed her life.

Despite her situation, Stacy finds a way to be responsible about money.  She constantly used Rich Dad as her guide.  As time passed, Stacy’s confidence grew.  He courageously took financial decisions for himself.  Now, she practices medical and has two houses.
 Stacy’s life was full of difficulties.  She grew up in a low income family.  The little money he had was somehow worth living for.  This broke Stacy’s confidence.  He thought that she would never succeed.  That’s why he never tried.  At the age of sixteen, she dropped out of high school.  Then, Stacy became a letter dispenser.
 At the age of 30, his money problems started.  Stacy had a son whom she had to raise.  She was also in debt.  His salary could barely meet the food expenses.  Then, one day he read Rich Dad.  She also went to play cashflow.  Stacy’s life changed.  He came to know that there are many opportunities for him too.  Just because she was poor didn’t mean she couldn’t be rich.
 Stacy and a friend of hers – a doctor – both managed to buy a clinic.  He had to take a loan to buy it.  But he was confident about this business.  He had Rich Dad to show him the way.  He also had a lawyer and financial advisor to help him.
 His clinic was successful.  Stacy now owns about 75% of the clinic’s profits.  But she didn’t stop there.  Stacy turned to real estate.  They took advantage of this.  However, not all his business got profit.
 Stacy learned to read even more.  He equipped himself with knowledge and never stopped learning.  Then he felt the need for a team.  Stacy knew she couldn’t do it all alone.  And there was nothing wrong in accepting this.  Many people fail because they refuse to accept that they cannot handle everything alone.  As the saying goes, no man is an island, not an island.  He cannot be alone.
Rich Dad's success story - Book summary by Robert T Kiyosaki

Conclusion –

 You learned about people whose lives were influenced by the book Rich Dad, Poor Dad.  All these people came from different backgrounds.  They all felt that financial security was impossible in their life.  Robert Kiyosaki proved them all wrong with his book and board game, Cashflow.
 You know that Umar is just a number.  You are neither big nor small to be smart in money matters.  He has no age.  Being wise about your money can change your life.
 You know that there is a lot of power in practicing what you have learned.  The stories in this book highlighted the cashflow.  This game taught people how to analyze their every financial decision.
 You learned that knowledge will get you to the halfway point of your goal.  Those who want to learn, those people will be better.  They never sit peacefully with their financial situation.  So, they read even more.  Opportunities are everywhere.  You just have to read and listen.
 You learned how to make your own destiny.  Business opportunities will not come to you on their own.  You have to find them with your own efforts.  Gain knowledge and experience.  Have the courage to take the risk.
 All your worries regarding money can end.  You can become like the people mentioned in this book.  Start changing your thinking in terms of money.  Increase your financial knowledge.  Think positive about changing your situation.  You will feel really light and happy.  This will give you courage and encouragement.
………
Finally, if you have reached the end of this summary, then Congratulation.  There are very few people who invest time on top of knowledge or else you could have invested time anywhere else.
Updated: October 28, 2021 — 9:51 am

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