Rich Dad Poor Dad Review:  Overview, Summary, Free Audiobook

Rich Dad Poor Dad Review: Overview, Summary, Free Audiobook

Simple Maths and Common Sense are all you need to do well financially – Robert Kiyosaki

If you are looking for a sure short review of rich dad poor dad, the quote covers the entire book.

But If you are someone like me who wants to understand deeply how this money game works.

And how this book can help you secure your financial future?

Then stay still and Keep Reading. I hope all your questions to be answered by the end of the post.

First of all Congratulations, You have already taken the first step of the game by coming to this article. It shows that you have a deep desire to understand wealth, riches, finances, etc.

The starting point of all achievement is DESIRE

Think and Grow Rich

Now let’s dig deep into the review of rich dad poor dad.

You can also watch my video on the same topic here:


Rich Dad Poor Dad Review
Rich Dad Poor Dad Review
Book NameRich Dad, Poor Dad
AuthorRobert Kiyosaki, Sharon Lechter
Page Count207
GenreSelf-help book
Copies Sold32 million
Other BooksRich Dad’s Cashflow Quadrant: Guide to Financial Freedom
Ratings4.1/5 (Goodreads)
Price Check Here
Rich Dad Poor Dad: Overview


Rich Dad Poor Dad Story
pic credit: Slideshare

Rich Dad Poor Dad focuses on the life story of Robert Kiyosaki and his two dads. One of them is Robert’s real dad and the other one is his friend mike’s dad. Both of them were quite hardworking and successful in their careers.

But their opinions were completely different when it comes to money and so is their financial life. Even after having all the college degrees one always struggles (Poor dad) financially and died in debt while being a high school dropout the other becomes one of the richest men in Hawaii.

In this book, Robert compares the mindset of his poor dad (Robert Dad) and rich dad (Mike dad). This book gave us two contrasting points of view about money one from a poor man and the one from a rich man.

Chapterwise Summary


Robert Kiyosaki says having two dads offered me the choice of two contrasting points of view about money one from a poor man and the one from a rich man. One always work for money while the other make money work for him. As Kiyosaki was struggling because of two contradicting financial advice from his fathers. So at the young age of 9, he decided to learn from his rich dad and follow his advice.

Rich dad gave Robert six lessons about finance and wealth which help him achieve financial freedom. We will discuss them in detail later on.

Chapter-1 The Rich don’t work for money

The riches don't work for money

Make Some Money Son!

“Dad, can you tell me how to get rich?”

Robert asks his father in a sad one because a classmate did not invite Robert and Mike to his beach house as they were the poor kids in their school.

Robert’s dad was a school teacher so he said to him “Go and Make Money son, use your head”.


After being told by his dad to make money Robert and Mike stated melting toothpaste that was made up of lead to cast out some nickels until they learn about the world counterfeiting and why it is illegal. It shattered their dreams.

But a new hope comes to light when Robert dad tells them that If you boys want to make money don’t ask me, I am a school teacher rather than ask Mike’s dad who is running multiple businesses at a time.

Mike asks his dad and he agreed to teach the boys.

The lessons begin

Mike’s dad was a man of few words, he mostly speaks with his actions. When he met Mike and Robert he simply gave them a Take It or Leave It choice. Mike’s dad offers them to work for him 3 hours every Saturday for 10 cents/hour only then he will teach them.

Both of them agreed. After working hard for three Saturday’s Robert decided to quit, he was angry with Mike’s dad for not keeping his end of the promise and teach him about money.

Thirty-Cents Later

When Robert confronts his rich dad with this argument he calmly disagreed. He said, I was teaching you from the moment you ask me but I don’t teach in old school style with lectures and words.

That’s not how Life teaches you, It always pushes you around. Whenever life pushes you around it means WAKE UP, THERE’S SOMETHING YOU NEED TO LEARN.

The more you learn lessons from these pushes, the happier you will be. Most people ignore these lessons and blame others, their friends, boss, family, etc.

But rich people welcome life to push them around and learn something new to grow in life.

Fear and Greed: The biggest trap

Rich dad told Robert that most people let their emotions get the best of them.

It is the biggest trap one must avoid The trap of fear and greed. We always act based on one of these two emotions, Their fear of not having money made them work on the job they don’t want to and as long as they got their incomes greed take over them, they start thinking about the things they can buy with that money and fall short at the end of the month.

Make Money Work For You

These people spend their entire life working for money instead of learning to have money work for them.

Rich dad advises Robert and Mike to keep their mind open for Opportunites to make money work for them and so their learning journey continues.

Chapter-2 Why teach financial literacy?


The Richest Businessmen

Charles Schwab, Samuel Insull, Howard Hopson, Ivar Kreuger

The names you read above there are two things common in them:

  • They were all the greatest leaders and businessmen in their respective industries.
  • They all died broke after the market crash of 1929.

But If being rich is the only solution to all of our money problems then why the names we mentioned above died broke even though they have more money than you and I could ever imagine.

The answer is very simple It’s not how much money you make but how much you keep.

Money keep > Money earn

Robert says If you want to be rich, you need to be financially literate.

The reason why most people struggle financially because the financial knowledge not get taught in school and colleges.

We all have a strong academic and professional foundation built in our so-called education system but without having a strong financial-literacy background, all of our financial efforts will go in vain.

Because we are building our wealth on a foundation that was not that strong.

Assets vs Liability

Rule No. 1 You must know the difference between asset and liability and only buy an asset

The asset is something that puts money in our pocket while the liability something that takes money away from our pocket.

That’s all you need to know. Simple right? Yet we all fail to understand this simple concept.

When rich dad explained this to Mike and me, we thought he was kidding. Here we were, nearly teenagers and waiting for the secret to getting rich, and this was his answer. It was so simple that we stopped for a long time to think about it.

Rich Dad Poor Dad summary, Pg-45

But the true definition of”assets” and “liability” lies in numbers but not in words.

Here are some drawings from rich dad poor dad which will deepen your understanding of assets and liabilities.

rich dad poor dad assets
cash flow pattern of an asset
cash flow pattern of liability
cash flow pattern of a liability

As you see in the above income statements assets put money in our income column whether we work for it or not. It’s like a tree we plant it, take care of it, and then it provides us shade and fruits for the rest of our lives.

While liability put money in our expenses column. It increases our consumption.

We will now show you the income statements of Rich, Poor, and Middle class.

cash flow of poor person
cash flow of poor person
cash flow of middle class
cash flow of middle class
cash flow of rich person
cash flow of rich person

Conclusion From the Cashflow patterns

  • Poor People spend all of their income on expenses like food, clothes, shelters, taxes, etc.
  • Middle Class covers all of their expenses with their income but they buy a lot of liabilities like Car, New Home, and as their income goes up their expenses follow. Now they become part of the rat race.
  • Riches focuses on their assets columns, They buy assets. It’s like a well-established tree. It puts money in your pocket whether you work for it or not.

Secret of the rich?

Here is a secret. Want to be rich?

Acquire Assets

Chapter-3 Mind Your Own Business

Mind Your Own Business

What’s your real business?

Hey, Can I ask you a question? What do you think McDonald sell?

So, What’s your answer?

Before you say anything like Hamburgers, Icecreams and blah..blah…

Let me tell you that’s not how Ray Kroc, Founder of McDonald’s says. You can read his exact words from the book Rich Dad Poor Dad down below:

What business am I in?” Ray asked once the group had all their beers in hand. The students laughed again, and finally, one brave soul yelled out,

“Ray, who in the world doesn’t know that you’re in the hamburger business?”Ray chuckled.

“That’s what I thought you would say.” He paused and then quickly added, “Ladies and gentlemen, I’m not in the hamburger business.

My business is real estate.”

Rich Dad Poor Dad Review, pg-71

Profession vs Business

Robert says no matter what profession you are in? You must start your own business. Just like Ray Kroc said he was in the hamburgers profession but his real business was real estate.

Let me clarify this Here business doesn’t refer to the context of starting the company, for some people it will but here business comes in the context of building your asset columns.

In short, Never confuse your profession with your business. If you do so You will work for someone else for the rest of your life.

Even when Robert was doing his day job at Marine Corps and Xerox, he was building his assets on the side by focusing on Real State and Stock investments.

Types of Assets

But What type of assets should you be focusing on? There are various types of assets but almost all of them fall under the following categories:

  1. A business that does not require your presence
  2. Stocks
  3. Bonds
  4. Real Estate
  5. Notes(IOU)
  6. Royalties from the intellectual property like music, scripts
  7. Anything else that has value, produces income or appreciates, and has a ready market.

Just remember one point build assets you love, Robert loves real estate and small business that’s why he builds his assets around these two industries.

Everyone else focuses on the income column but the rich focus on assets. No matter how much your income increases if you don’t manage it well and invest it in building assets you will leave with nothing but debts.


Chapter-4 The History of Taxes and the Power of Corporations

The power of corporations

History of Taxes

Initially, there were no taxes except some temporary pay during the time of wars. But In 1874, England made income taxes permanent for its citizens follows by America.

But here comes the funny part The tax concept introduced to punish the rich people but it ends up harming those who voted for it: the poor and middle class.

At first, the Government imposed taxes only on the riches butt over time as the government’s appetite grows taxes also levied on the poor and middle class.

Still, there is one question on my mind. How do riches protect their wealth from the taxman?

If I were to give you the one-word answer “Riches achieve it by the power of corporations”.

What is a corporation?

Kiyosaki described corporations in a very simple way, here:

A corporation is simply a legal document that creates a legal entity. It is not really a thing, not a factory or a group of people. But it offers a lower income-tax rate than individuals have.

When Robert was in his mid 20’s he was working at Marine Corps and Xerox, He always felt a little disappointed at month’s end when he got his paychecks due to all the tax deductions which finally inspired him to form his own corporation.

In all the years of guiding Robert, Rich dad taught him that The main bully is the taxman, It will take more from you If you let him.

The only way one can achieve financial freedom is by increasing their financial IQ.

Financial IQ is basically made up of four things:

  1. Accounting
  2. Investing
  3. Understanding Markets
  4. Knowledge of Law

Financial IQ is financial knowledge without it no matter how much money you earn, You will lost a big chunk of it to the taxman.

Employees vs Corporation

the power of corporations
the power of corporations

Chapter-5 The Rich Invent Money

Rich Invent Money

Often in the real world, it’s not the smart who get ahead, but the bold

Be Bold and Take Risk

Since 1984 Robert has been teaching professionally and met lots of talented individuals. One thing that is common in almost all of them is the feeling of fear and self-doubt.

They all know the answers to their problems but afraid to act on them.

Fear and Self-Doubt is in all of us. It’s the courage that makes all the difference.

That’s why Robert said Be Bold and Take Risk.

Have Fun !!

The era we live in is the golden era to make wealth, The only thing constant here is change. It is full of turmoil, scary yet exciting as well.

So Take Your time and build your assets. Start Small, Be Focused. Sometimes you win, sometimes you lose but always have fun.

Look at it as a game and Do your Best. Hopefully, success will follow.

Chapter-6 Work to learn, Don’t Work for Money

Work To Earn,Don't work for Money

Have you ever heard the quote “Jack of all is the master of none”?

Learn A Little About A Lot

We all heard from our childhood that it is always better to be the expert of just one field rather than being average in many.

But that’s not how rich people think, they try to learn little about a lot.

Let me give you an example Imagine you are a Graphic Designer, You spend 10 years of your life just to be the expert in this field.

You have become quite famous in the industry and got some very big clients.

But Are you sure that if somehow the graphic design industry taken over by AI and other technological developments? You will be able to earn a living.

There is a big question mark in there, isn’t it? But if you have some other skills things will be easier for you. Right?

Robert also worked at various jobs, learn different skills like trading, sales, accounting, etc.

But he says the most important skills that you need to specialize in are Marketing and Sales.

Being Specialized has its strengths too but only if you follow it by proper communication skills.

Help Others!

And Never Forget to give back to society, help others. Give and you shall receive.

Chapter-7 Overcoming Obstacles

Overcoming Obstacles

Learning the rules of financial education, becoming financially literate that’s not where this game ends.

The road to being financially free will not be as easy as it sounds. Through you know the rules and have enough expertise still lots of obstacles are waiting in your way and You must overcome them to achieve your goal.

Generally, There are five obstacles that you must overcome to achieve your financial goals:

  1. Fear
  2. Cynicism
  3. Laziness
  4. Bad Habits
  5. Arrogance

Chapter-8 Getting Started

Getting Started

There is gold everywhere. Most people are not trained enough to see it.

Rich Dad Poor Dad Review, Robert Kiyosaki

Rich people are not super smart, They are just good at tracking opportunities.

We all are genius in our own unique way, as Albert Einstein said:

Everyone is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.

Albert Einstein

Finding good deals is like riding a bike. After some wobbling its a piece of cake but it takes determination to go through that wobbling.

It is easy to live in a crowd like everybody. Work hard, earn money, spend it, and if you fall short on money you can always borrow some.

But this mentality never let the financial genius inside of us to come out and take lead.

To make enough wealth you must awaken your financial genius before anything else.

Here are the 10 steps that will help:

  1. . Find a reason greater than reality: the power of the spirit
  2. Make daily choices: the power of choice
  3. Choose friends carefully: the power of association
  4. Master a formula and then learn a new one: the power of learning quickly
  5. Pay yourself first: the power of self-discipline
  6. Pay your brokers well: the power of good advice
  7. Be an Indian giver: the power of getting something for nothing
  8. Use assets to buy luxuries: the power of focus
  9. Choose heroes: the power of myth
  10. Teach and you shall receive: the power of giving

Chapter-9 Still Want More? Here Are Some To-Do’s

Up until now, you have enough knowledge and the required mindset to take some actions. Robert shares his own To-Do list but you must make your own list to tackle your actions.

Robert’s list:

  • Stop doing what you are doing
  • Look for new ideas
  • Find someone who has done what you want to do.
  • Take classes, read, and attend seminars.
  • Make lots of offers.
  • Jog, walk or drive a certain area once a month for 10 minutes.
  • Shop for bargains in all markets.
  • Look in the right places.
  • Look for people who want to buy first.
  • Think big.
  • Learn from history
  • Action always beats inaction.

Final Thoughts

Robert Kiyosaki wrote this book to show the world how financial intelligence can solve their life’s most common problems.

Apart from rich dad poor dad, Robert wrote many other books on the same topic. I will review them in some other post.

In the world of accounting there are actually three types of incomes:

  • Earned Income: Money you get for your time
  • Portfolio Income: This income derived from liquid assets like stocks and bonds
  • Passive Income: In most cases, it is the income derives from real estate investments

Your ability to become rich depends on how you can convert earned income into passive income.

Here we concluded the entire overview and summary of rich dad poor dad.

Rich Dad Lessons

Rich Dad Poor Dad Review: Rich dad 6 lessons

Based on the entire review of rich dad poor dad till now, here are the six lessons of rich dad you must know:

  1. The Rich Don’t Work For Money.
  2. Why Teach Financial Literacy?
  3. Mind Your Own Business
  4. The Power Of Corporations
  5. The Rich Invent Money
  6. Work To Learn- Don’t Work For Money


  • Failure is part of the process of success. People who avoid failure also avoid success.
  • The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.
  • There is a difference between being poor and being broke. Broke is temporary. The poor is eternal.
  • Learn to use your emotions to think, not think with your emotions.
  • It’s not how much money you make, It’s how much money you keep.
  • There is gold everywhere. Most people are not trained to see it.
  • Often in the real world, it’s not the smart who get ahead, but the bold.
  • You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something

Rich Dad Poor Dad Free Audiobook

If you are a regular audiobook type person you should listen to rich dad poor dad on audible.

Still, it is a paid service. If you are searching for a free audiobook then you can listen to it here:

And to listen in Hindi click here :

Rich Dad Poor Dad Game: CASHFLOW

CASHFLOW is a board game that teaches you about investing as a teaching tool.

Robert says games are instant feedback systems.

You can learn more from a game than from any lecture.

There is also an online version of CASHFLOW it’s called CASHFLOW ® Classic.

It is a good option for you either If you can’t afford the board game or you don’t have enough gaming partners to play with.

Rich Dad Training:

Robert Kiyosaki offers some of the most valuable courses on financial education. It covers topics like personal finance, Real Estate, and Investment, etc.

Although these courses are super knowledgeable and you must buy them if you want to learn things in more detail but there is also a free alternative through youtube and also twitter.

Check Out The Rich Dad Channel

You can also check out Robert twitter handle for more financial advice.

Robert Kiyosaki Twitter

Similar Books

  • Think and Grow Rich
  • The Richest Man in Babylon
  • Rich Dad CASHFLOW Quadrant
  • Rich Dad Guide To Investing


Rich Dad Poor Dad is the number one book on Personal finance in the market. You can read the stats from

rich dad poor dad ratings

rich dad poor dad review on amazon

This concluded our entire review of rich dad poor dad but before you go I have some questions for you:

What is the first thing you going to do when you finish this review?

What are you waiting for?

Answer these questions in the comments and Share Your Views about the book and this review.

Hope this helps!!!

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