Go to college.
Get a good job.
Save your money.
Buy a house.
Provide for your family.
Retire at a reasonable age.
These are the cookie-cutter instructions for a happy, financially stable life that everyone receives . . . and hardly anyone questions. It’s the reason most intelligent, high-performers never truly become wealthy. Instead, they find themselves suffering financially, barely able to keep their head above water. As reported by Experian, “Since 2010, consumer debt has increased a whopping 31%,” leaving the average American with over $90,000 in debt. It goes to show Robert T. Kiyosaki’s Rich Dad Poor Dad is more relevant than ever.
Whether it’s keeping up with the Joneses, not making enough money, or poor financial management, a large majority of people don’t know how to generate wealth because they have the wrong mindset. They’ve been suckered into following society’s blueprint of the Poor Dad, believing that if they keep their head down and do what they’re supposed to do, they’ll be financially rewarded.
Those with this mentality end up waiting their entire life for that day to come.
According to Kiyosaki, a self-made millionaire, there’s nothing “traditional” about achieving long-term financial success. If you want to become wealthy, you’ll need to scrap everything you’ve learned and adopt a different mindset—that of the nonconformist Rich Dad.
Ready to stop struggling financially? Get started by learning the top lessons in this Rich Dad Poor Dad summary.
Top Differences of Between the Rich Dad Poor Dad Mindset
Growing up, Kiyosaki learned about wealth from two important figures in his life: his Rich Dad (his friend’s father) and his Poor Dad (his own father). Find out the key differences below.
The Poor Dad Mindset
- The Poor Dad is the plight of most poor and middle-class Americans who get caught in the rat race.
- These people aspire to earn more so they can spend more.
- This type of person ends up acquiring liabilities such as a large monthly car payment or an unsustainable mortgage payment.
- Ultimately, someone with this mindset is operating from a place of scarcity, fear, and greed—all of which keep them poor.
The Rich Dad Mindset
- The Rich Dad has a growth mindset and a hunger for becoming financially literate.
- Instead of chasing the next paycheck, they learn to invest their money wisely.
- With financial literacy, they remove themselves from the vicious cycle their counterparts can’t escape.
- This allows them to work because they love what they do, not because they need more money.
- Unlike the Poor Dad, they also let their money work for them, using it to acquire and grow income-generating assets.