Rich Dad Poor Dad

Only available on StudyMode
  • Topic: Robert Kiyosaki, Rich Dad, Wealth
  • Pages : 19 (7061 words )
  • Download(s) : 493
  • Published : March 2, 2013
Open Document
Text Preview
Princess B. Reyes

CHAPTER 1

Rich Dad Poor Dad is about how Mr. Kiosaki was raised by a rich father and a poor one. Mr. Kiosaki's poor father was highly educated with a Ph.D., while his rich dad didn't even make it through high school. Mr. Kiosaki’s fathers sometimes gave him some advice when he was a child, but the advice of his two fathers where different from one another especially when it came to money. His poor father did not spend much time thinking about money, while his rich father says a lot about how to make money, they were hard-working, but his educated father didn't not give importance about financial education. His rich father always discussed money and financial things with him. His rich dad always says to take risks with money . He advised him to work hard not to work at a company, but to own his real company.Mr. Kiosaki’s poor father believed in in taxing those who are rich or has higher income to help the poor and needy. His poor dad believed that the government was in charge for taking care for the poor people. While his rich dad believed strongly in self-confidence and opposed taxes.

At the age of 9, Kiosaki make a decision that he would stick to his rich father's footsteps and and not pay attention to the lessons of his poor father. For the next 30 years of his existence, his rich father taught or tell Mr. Kiosaki everything that his rich father knew about finances and how to be rich. On his 30 years, he recognized six distinct lessons.

2
Chapter Two opens with the first lesson – the rich don't work for money. Kiyosaki reflects on how as a child he was sent to a public school comprised of mostly upper-class youth. He was jealous of the material goods his classmates possessed, such as new baseball gloves and bicycles.

Mr. Kiosaki made a decision that he wants to start his own business and he ask Mike, his best friend, to be his partner to the business that he wants to start. They make a plan to make money out of their neighbors' lead toothpaste tubes by melting them down and using a nickel as a template. Kiyosaki's poor father catches them making fake nickels. His poor father congratulates them for their originality, but says that their operation is actually illegal and won't work.

Mr. Kiosaki’s father told that they should talk or seek some piece of advice to Mike’s dad if they truly want to learn how to be rich. Mike's father had a big reputation in town because of their business and talent with earning money Mike’s father suggest to help them to be rich if they agree to work at one of his super market for 10 cents an hour, three hours every Saturday. Mr. Kiyosaki works for four shifts and finds the work boring and the pay poorly low. So he decides that he will quit on working on the supermarket. He speak up with Mike's dad and that he has not held up his end of the deal – he hasn't taught him anything. Mr. Kiosaki accuses Mike's dad for paying him a low salary and treating him unfair0ly. Mike's dad explains to him that he has just taught him a lesson, a lesson that mirrors real life. Mr. Kiosaki said that Mike’s dad can't accuse his employer for the economic troubles and that Mike’s dad should be responsible.

He summarizes his first lesson: "The poor and the middle class work for money. The rich have money work for them."

Mike's dad informs Kiyosaki that if he wants to keep learning from him, he will return to his work the next week and continue to work at the supermarket - for no pay. Kiyosaki is angry and puzzled, but then he returns to the supermarket next week.

After several weeks of working for no pay, Mike's dad shows up at the end of one of their shifts. Then Mike’s dad to pay them 25 cents an hour, but Kiyosaki can tell that Mike’s dad is testing them. He then offers to pay them up to $5 an hour and although Kiyosaki is tempted but he refuse. Mike's dad continues to teach them more about money. He advises them to lose their fear of not having money and their greed...
tracking img