Nucks logoNucks mark
Navigate back to the homepage

Rich Dad Poor Dad by Robert Kiyosaki

Cameron Nuckols
1 min read
Have other book notes like this sent directly to your inbox 📥


Rating: 10/10
Read More on Amazon

High-Level Thoughts

Rich Dad Poor Dad opened my eyes to how wealth is truly created. Robert tells the story of lessons he learned from his poor father and compares them to lessons learned from his friend’s father. This book will get you started on a path towards building wealth.

Key Takeaways

  1. Acquire assets. Limit liabilities.
  2. A house or a fancy car is not an asset.
  3. Start now.

Summary Notes

The key to becoming rich is by acquiring assets.

Asset = an activity, company, or project which creates money for you without much maintenance

The money you have should be used to create additional assets. Excess money that comes from your assets can be used as you please. The example that Robert gives is that his wife saved for four years with money from her assets to purchase a fancy car.

Examples of assets: 

  • Rental property
  • Stocks or index funds
  • A company
  • Employees - they work to make you become richer

It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.

How do the rich become richer?

The rich view money as employees that can work for them.

  • They build corporations.
    • They have to pay fewer taxes because the money used in the business can be written off.
    • They continue purchasing assets while others buy fancy cars & homes using all of the excess cash that they have. Oftentimes, people become trapped in a mortgage payment or loan payments so they can’t use their money wisely.

Want to Read More?

Read More on Amazon

Other Reviews

Learn More

Get the Book on Amazon

Sign up for my monthly newsletter

Receive quality content every month on diverse topics. The premium edition, for free. 👊🏽

More book notes from Nucks

The Personal MBA: Master the Art of Business by Josh Kaufman

For any aspiring MBA candidate, this book is a must-read. It dives into a variety, if not all, of business subjects that you would study in top MBA programs. The purpose of the book is to serve as an all-in-one guide so you can teach yourself, save thousands of dollars, and succeed in business without the popular MBA degree.

February 27th, 2020 · 4 min read

I Will Teach You to Be Rich by Ramit Sethi

This book follows a 6-week program so you can make real-time changes to your finances as you read. It covers credit cards in-depth and teaches other great financial secrets. I recommend reading The Simple Plan to Wealth first because I liked it more, but you will not waste your time reading this book. Some may even prefer it because of the structure that the book follows.

February 12th, 2020 · 11 min read

For Sale

© 2015–2020 Nucks
Link to $ to $ to $