Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money – That
Robert T. Kiyosaki
Kiyosaki explains why a good salary and bank savings rarely make anyone rich, and how financial education, a clear test for assets and carefully used debt let ordinary earners start owning things that pay them.

58 sec
If you earn a decent salary, save what you can and still feel no closer to being rich, Robert T. Kiyosaki says the plan itself is the problem. In Second Chance, the author of Rich Dad, Poor Dad argues that no paycheck, however large, makes a person wealthy, because the money system is built to shrink the value of wages and savings. In his view only one route works: owning assets that pay you whether or not you show up to work.
The crash of 2007 to 2008 is his starting point. Most people watched it happen without understanding it, and Kiyosaki blames a school system that teaches nothing about money. His case is that financial education is the second chance. It shows why savers lose, how to tell an asset from a liability, and how borrowed money can buy things that earn. By the end you will be able to read your own finances the way he does, and know which first asset to study.
1 min 55 sec
The person who works hard, pays taxes and saves every month sounds like the safest player in the economy. Kiyosaki argues that this careful saver is the one the system hurts most, and the reason starts inside the bank.
1 min 56 sec
Three master’s degrees can still leave someone unemployed and broke. Kiyosaki traces that gap to what classrooms leave out, and he shows how it led millions to misread the very crash that cost them so much.
1 min 38 sec
Most homeowners would name their house as their biggest asset without a second thought. Kiyosaki disagrees, and his reason rests on a one-line test that can be applied to everything you own.
1 min 50 sec
A nice house and a leased sports car can hide a person who is quietly poor. Kiyosaki offers a simple way to see through appearances, including your own, and then decide what to own next.
1 min 45 sec
Kiyosaki admits that plenty of people are happier in a steady nine-to-five job. For those who want more, he says the skills that matter look very different from what a career ladder rewards.
1 min 40 sec
School teaches that errors are a sign of stupidity. Kiyosaki thinks that lesson is backward, and he describes how he trained for his first property deal long before he had the money to make it.
1 min 51 sec
Stay out of debt is the rule most of us grew up with. Kiyosaki’s first apartment and a friend’s ruined Scottish church show why he thinks that rule keeps ordinary earners from ever owning anything valuable.
1 min 04 sec
Kiyosaki’s title carries his whole case. The crash of 2007 to 2008 showed how little most people understood about the system holding their money, and he treats that shock as a chance to start again with different rules. The old rules were a degree, a good job, savings in the bank and a life free of loans. In his reading, those are the very things that keep the working middle shrinking while inflation and bailouts do their work.
His alternative starts with education. Learn the words, read your numbers, know what pays you, and then borrow with care to own more of it.
The smallest starting point is the one he recommends himself. Pick up a financial newspaper such as the Wall Street Journal and look up every word you do not know. At two words a day, that comes to about 60 in a month. Then write your income statement and balance sheet, and be honest about which items actually pay you. Spend a few weekends rehearsing deals in the asset class you care about most.
Money left waiting in a bank shrinks. Money placed in an asset goes to work.
The standard advice says that a degree, a good job and steady saving lead to a comfortable life. Robert T. Kiyosaki thinks the 2007 to 2008 crash showed how badly that advice serves people. In his account, banks lend many times what they hold, which feeds inflation, and bubbles end in bailouts that taxpayers fund. The people paid by paycheck carry the cost, and the middle class keeps shrinking. His remedy is the financial education schools leave out. Kiyosaki defines wealth as owning assets that put money in your pocket without your labor, and he argues that most people confuse those with liabilities, starting with their own home. He shows how to read your position with an income statement and a balance sheet, how to pick one of four asset classes you actually care about, and why the entrepreneur's skills are learned through practice and mistakes, not memorization. He also challenges the fear of debt. Using his first $50,000 apartment and a friend's ruined church in Scotland as examples, he explains how a loan can buy an asset whose income covers the cost. Readers get a simple test for everything they own and a starting plan they can use right away.
Salaried professionals who save steadily and still feel no closer to financial freedom.
Young earners who were told a degree and a good job would be enough.
Would-be investors and founders unsure whether debt is a danger or a tool.
Robert T. Kiyosaki was born in 1947 in Hilo, Hawaii, a fourth-generation Japanese-American. He flew helicopter gunships as a Marine Corps officer in Vietnam, sold for Xerox, and in 1977 launched a business making nylon and Velcro surfer wallets. In 1985 he founded an international company teaching business and investing, sold it in 1994 and retired at 47. He created the CASHFLOW 101 board game, wrote Rich Dad, Poor Dad and founded the Rich Dad Company.
Robert T. Kiyosaki
Robert T. Kiyosaki
Robert T. Kiyosaki
Listeners find the content engaging and straightforward, with one individual highlighting the use of simple stories and examples. Furthermore, they value its educational merit, noting how it puts financial principles into perspective, and feel it is worth the cost. The work also earns praise for its focus on financial literacy, with one listener specifically mentioning action steps for achieving financial freedom, while others find it motivating, including one who noted it provided fresh perspectives. Nevertheless, several listeners point out that the material can be repetitive.
Wow. This was exactly the wake-up call I needed after feeling like I was just treading water in my career. Robert Kiyosaki has a unique way of taking complex economic shifts—like the transition from the Industrial Age to the Information Age—and making them feel personal and urgent. While some people complain about his style, I found the simple stories and the emphasis on 'knowledge being the new money' to be incredibly empowering. The book doesn't just talk about theory; it actually pushes you to look at your 401k and savings through a much more critical lens. I particularly loved the sections on how the poor work for money that is constantly being devalued by inflation. It is an eye-opening perspective that makes you realize why 'savers are losers' in today's economy. If you are looking for a spark to change your financial trajectory, this is definitely worth the price of admission.
Show moreAs someone who felt trapped in the traditional 9-to-5 mindset, this book provided a refreshing lens through which to view my debt and my future. I loved the concept of the 'Second Chance'—the idea that we can learn from the financial crises of the past to protect ourselves today. The way he breaks down the 1971 shift off the gold standard is brilliant and easy to understand. Not gonna lie, I used over 40 sticky notes to mark important pages for my kids to read later. The information about how taxes are used to steal the value of our labor was particularly life-changing for me. It is an inspirational guide that encourages you to take control rather than waiting for the government to save you. This is essential reading for the new generation who are facing a much tougher economy than their parents did.
Show morePicked this up after a friend recommended it for its insights into the 2008 crash and what’s coming next. It is incredibly well-written and fluid; I found myself flying through chapters because the conversational tone is so engaging. The book does a stellar job of explaining the difference between 'asset rich' and 'income rich,' which is a distinction most people completely miss. I loved the focus on Bucky Fuller’s 'generalized principles' and the idea that the more people you serve, the more effective you become. This isn't just a book about hoarding cash; it's about shifting your contribution to the world. The graphs helped me visualize the 'underwater' mortgage crisis in a way that news reports never could. Honestly, it’s one of the few finance books that actually felt like it was speaking directly to my situation in this crazy economy.
Show moreEver wonder why the gap between the rich and poor keeps widening despite everyone having degrees? This book dives deep into the 'Grunch of Giants' and explains how the system is rigged through taxes and inflation. I really appreciated the 'three sides of a coin' metaphor—heads, tails, and the edge. It taught me that intelligent people stay on the edge to see both perspectives. The charts and graphs in this volume actually made the complex economic theories digestible for a layman like me. Even though he can be a bit cryptic about the specific 'how-to' steps for real estate, the shift in mindset is worth it. I spent a lot of time highlighting the sections on 'defined contribution' plans versus 'defined benefit' plans. It’s scary stuff, but necessary to understand if you want a real second chance at financial freedom.
Show moreThe chapter on Buckminster Fuller alone made this a fascinating read for me. After hearing so much buzz about Kiyosaki being a 'vendehumos' or smoke-seller, I went in skeptical but came away quite impressed with the clarity of his stories. He explains the fractional reserve system in a way that finally clicked for me, showing how banks essentially print money while our savings rot. I’ll admit, the writing is a bit unpolished and the Q&A format gets a little repetitive toward the end, but the educational value is undeniable. It puts your personal finance into a global perspective that you just don't get from standard banking advice. He challenges you to stop being a 'sandwich generation' victim and start building assets. It’s not a get-rich-quick manual, but it provides the foundational literacy needed to stop making the same old mistakes with your money.
Show moreFinally got around to reading 'Second Chance' and it’s a solid follow-up to the Rich Dad series, even if it retreads some familiar ground. What makes this one stand out is the focus on the future and the specific dangers of the current 'Information Age' where old rules no longer apply. I found the mind-mapping techniques and the use of sketches to be very helpful for visualizing wealth building. To be fair, the book can be repetitive, but sometimes you need to hear a message ten times before it really sinks in. He does a great job explaining why the rich get richer during market crashes while everyone else panics. I appreciated the bluntness regarding the education system and how it's designed to create employees rather than entrepreneurs. It’s a quick, punchy read that will definitely change how you look at your paycheck every month.
Show moreDirectly speaking, this book is a wake-up call for anyone relying on a traditional savings account or a 401k to survive. Robert explains how the 'Robber Barons' influenced the education system to keep us financially illiterate, and it makes so much sense when you look at the world today. I liked the focus on 'Information x Education = Knowledge.' While he definitely promotes his Cashflow game a lot, the underlying lesson about the velocity of money is worth the annoyance. He makes you realize that the harder you work for a paycheck, the more you lose to taxes and inflation. I found the stories about his own failures and his 'second chance' after losing everything to be quite humanizing. It's a great tool for anyone wanting to take their financial literacy to the next level without getting bogged down in boring academic jargon.
Show moreLook, if you can get past the constant self-promotion of his board games and previous books, there is a lot of wisdom here about the devaluation of the dollar. The problem is that Robert is getting a bit disconnected from the reality of people who can't just go out and buy a 16-unit apartment building tomorrow. Personally, I found the first half of the book much stronger than the second half, which felt like it was written in a rush. He asks himself great questions but often answers in riddles or refers you to his other products. However, the 'Three Principles'—your house is not an asset, savers are losers, and the rich don't work for money—are still powerful concepts that bear repeating. It’s a decent read for fans, but don't expect a step-by-step blueprint. It's more about 'spirit' and 'vision' than actual logistics, which might frustrate those looking for immediate action steps.
Show moreTo be fair, while the core message remains powerful, the delivery feels a bit like an extended commercial at times. I’ve been a follower of Kiyosaki for a while, and I noticed that he spends a lot of time bragging about his past successes rather than teaching new strategies. The Q&A sections are hit-or-miss; sometimes he nails the point, and other times he completely avoids the question to talk about his 'Rich Dad' philosophy again. That said, the sections on the 'sandwich generation' and the looming retirement crisis were very grounded in reality. It’s a good book for beginners who haven't read his other work, but veterans might find it a bit light on substance. I don't regret reading it because it kept me focused on my goals, but I wish there were more concrete examples of his recent investments.
Show moreFrankly, I found this to be a massive disappointment compared to the original 'Rich Dad Poor Dad' which changed my life years ago. The truth is that the author repeats himself constantly, sometimes even reusing the same paragraphs and those confusing hand-drawn graphs over and over just to pad the page count. It feels less like a book and more like a high-priced brochure for his Cashflow board game and coaching seminars. A huge portion of the text is dedicated to R. Buckminster Fuller, and while his ideas are interesting, I felt like Kiyosaki was hiding behind another man's genius rather than offering new, actionable advice. To be fair, there are a few nuggets of wisdom about the history of the dollar, but they are buried under mountains of self-promotion and narcissistic anecdotes. You are better off re-reading his older work instead of spending your time on this rehash.
Show moreKiyosaki argues that the money system, built on inflation, heavy bank lending and taxpayer-funded bailouts, erodes the wealth of people who live on paychecks and savings. Schools don’t teach the financial education that would protect them. His remedy is to learn to tell assets from liabilities, pick an asset class you care about, practice before investing, and use debt to buy assets that bring in more than they cost.
In his definition, an asset is anything that brings money into your pocket without requiring your labor. A home you live in does the opposite: mortgage payments and property taxes take money out every month, so he calls it a liability. A run-down house you buy, repair and rent out is different, because the tenants pay you, and he says assets also get lower tax rates.
He treats debt as a tool for buying assets most people could never save up for. In the 1980s he bought a $50,000 apartment with $5,000 down and a $45,000 loan at ten percent interest. His monthly payment was about $450, while local rents were around $750. A friend borrowed to buy a ruined 150-year-old church in Scotland and turned it into an exclusive housing complex.
Start by writing an income statement and a balance sheet, then mark which items actually pay you. Choose one of the four asset classes he names (business, real estate, paper or commodities) based on real interest. Rehearse deals the way he did, by reading ads, visiting properties and talking to brokers. To build vocabulary, read financial publications and look up two new words a day.
It suits salaried workers, freelancers and small business owners who save carefully but see little progress, and anyone who wants to understand why the 2007 crash hit ordinary people so hard. Kiyosaki also writes for readers considering entrepreneurship or investing who want to move beyond the employee mentality, and he stresses that a steady nine-to-five job is a fine choice for those who prefer it.
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