The Summary Series

The Summary of “Rich Dad Poor Dad” Book

How Two Dads Shaped One Man’s Views on Money and Investing

Moe Barbar
4 min readSep 22, 2023

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Welcome to another insightful blog post that aims to enrich your financial literacy and guide you on the path to financial freedom. Today, we’re diving deep into one of the most influential personal finance books of all time: “Rich Dad Poor Dad” by Robert Kiyosaki. This book has sold millions of copies worldwide and continues to be a go-to guide for understanding the basics of money management and investing.

Rich Dad Poor Dad” by Robert Kiyosaki is a seminal book in the personal finance genre that contrasts the financial philosophies and practices of two father figures in Kiyosaki’s life: his biological father, referred to as “Poor Dad,” and his best friend’s father, known as “Rich Dad.” The book is structured around the lessons Kiyosaki learned from these two men and how their differing views on money shaped his understanding of financial literacy and investing.

Rich Dad Poor Dad Book Cover

The Two Dads

Kiyosaki’s “Poor Dad” is a well-educated man with a stable job, who believes in the traditional path of getting a good education, working hard for a secure job, and saving money. He views money as something to be earned through labor and saved for future needs. His financial advice is conservative, focusing on risk-avoidance and long-term security.

On the other hand, “Rich Dad” is an entrepreneur who believes in financial education and investing as the keys to wealth. He sees money as a tool that can be leveraged to create more money. Unlike Poor Dad, Rich Dad advises that one should not work for money; rather, money should work for you.

Assets vs. Liabilities

One of the central tenets of the book is the distinction between assets and liabilities. Poor Dad’s approach often leads to accumulating liabilities, such as mortgages and loans, under the guise of acquiring assets. Rich Dad, however, emphasizes the importance of accumulating income-generating assets like real estate investments, stocks, and businesses. According to Rich Dad, an asset is something that puts money in your pocket, while a liability is something that takes money out of it. The path to…

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Moe Barbar

Entrepreneur, Learner, Writer, and Digital Marketer. and I read books and summarize them for you. buymeacoffee.com/moebarbar