Rich Dad Poor Dad Summary (Animated)

Rich Dad Poor Dad Summary (Animated)


If you were to stop working, imagine this
to yourself. How long can you survive on your remaining savings? What I just asked
you was a definition of wealth. Here is a man named Robert Kiyosaki, an American
investor, businessman, author, motivational speaker, and financial commentator who
became well-known in the recent years who has an estimated net worth of 80
million dollars! Want to know something interesting? “Oh?” He wasn’t raised in a
wealthy background. In fact his family was like most people who work but didn’t
have the best financial education and often times struggled with money. So then
how did Robert become rich today? Let’s take a look as he explains in one of
his bestsellers called Rich Dad Poor Dad Robert Kiyosaki was born in Hilo Hawaii
in April 1947 in 1957 at age nine years old, little Robert was attending the same
public school where the rich people sent their children for his town had lots of
doctors, business owners, and bankers Robert saw that the rich kids would
separate themselves from him for his family wasn’t able to afford the newest
collections of toys and bikes like them. So one day Robert asked his father who
had a PhD and completed multiple universities with excellent degrees, “Dad,
can you tell me how to get rich?” Unfortunately, his dad didn’t know the
right answer because he was a rich himself, so he responded with, “Well, use
your head, son.” “Stay in school, get good grades so you could find a safe and
secured job. His real dad is what he’ll be referred as poor dad. He wasn’t poor at
this time, in fact, he was making lots of money, but in the end, this man’s
financial life takes a turn for the worse. Now little Robert has a friend
named Mike and which Mike’s father would be referred as rich dad. Who started
mentoring Robert and his son Mike about how to really become rich. At this point
in time, rich dad wasn’t really rich yet but soon became to be one of the
wealthiest men in Hawaii. So then, what did rich dad teach Robert? Rich dad poured a strong financial foundation into these kids minds of many important
principles. To start off, the first lesson you need to know is you must know the
difference between an asset and a liability and that you need to buy
assets. If you want to be rich this is all you really need to know and
understand the most! You see, the rich acquire assets and the poor and middle
class acquire liabilities but sometimes they think they are assets. The primary
cause of financial struggle is simply not knowing the difference between an
asset and a liability. “?” OH! Right! You don’t even know what an asset or liability is don’t
you? An asset is something that puts money in my pocket.
A liability is something that takes money out of my pocket. For instance
let’s try cash flow pattern of a normal individual. This person right here
earns his income from a job and as expenses are things like food, clothes,
entertainment, and transportation Unfortunately he doesn’t have assets but
sure does have liabilities that constantly takes money out of his pocket
because things like mortgages, taxes credit cards, loans and believe it or not
the house. Now let’s take a look how to cash flow pattern really works for the
rich. Instead of looking to earn more money from their normal job as the only
source of income, they buy and own assets that brings money into their pockets as
a form of passive income. Passive income is something that earns money that
doesn’t require you to trade your time for it, so in other words you would be
earning money even as you’re sleeping. Examples of assets are businesses that
doesn’t require your presence such as stocks bonds, mutual funds, income generating
real estate, royalties, notes, and anything else that has value that produces income.
As mentioned before, poor dad was making quite a lot of money from his job but
his expenses seemed to always keep up with his income, never allowing him to
invest in assets. As a result his liabilities such as his mortgages and
credit card debts grew greater over time and this is the fault of having income
equals expense and assets is less than liabilities and sadly this is what drove
poor dad into debt even after he passed away. On the other hand, rich dad’s
personal financial statement reflects the result of a life dedicated to
investing and minimizing liabilities so he has income that is greater than the
expense because of assets is greater than liabilities. This is practically why
the rich are getting richer! Their assets generate more than enough income to
cover expenses with the balance reinvested into the asset column. The
asset column continues to grow and therefore the income grows with it. You
see, both dads worked hard, but they have opposing attitudes and thoughts. One dad
recommended study hard so you can find a good company to work for. The other
recommended study hard so you can find a good company to buy. One dad said the reason
I’m not rich is because I have kids. The other said the reason I must be rich is
because I have you kids. One said when it comes to money play it safe and don’t
take risk. The other said learn to manage your risk. One said I can’t afford that.
The other said how can I afford that? Although both men had tremendous respect
for education and learning they disagreed on what they thought was
important to learn. Robert learned from rich dad that the
truth about the general population, their lives are run forever by two emotions,
fear and greed, that keeps you stuck in a pattern of get up, go to work, pay bill.
Get up, go to work, and pay bills. Fear has them in this trap of working, earning
money, working, earning money and hoping fear will go away of not having money.
Instead of confronting the fear they react emotionally instead of using their
heads. The other emotion which is desire, some call it greed, is a second reason
why people also work for money. They desire money for the joy that they think
it could buy. But the joy that the money brings is often short-lived and
soon needs more money for more joy, more pleasure, more comfort, and more security.
You see that same fear and desire is what makes a lot of people be so
fanatical about going to school for a better chance of a high paying job, but
don’t be discouraged an education and a job are important, but it won’t exactly
handle that fear. To handle that fear, you need to learn the power of money, not be
afraid of it. Unfortunately most schools don’t teach
about this and if you don’t learn it, you’ll become a slave to money. Ignorance
of money can cause so much greed and so much fear that can lead you into life’s
biggest trap of constantly working. Rich Dad said learn to use your emotions to
think not think with your emotions. Examples of emotional thinking are like
I need to get another job! I deserve a raise! I want this job because
it is secured! Instead of clearly thinking like is there something I’m
missing here? This is our reality for most people your profession is your
income. The rich, your assets is your income. Apply these lessons to your life
for if I were to ask you about the definition of your wealth if you would
stop working today, how long can you survive? You might laugh at me and say I
no longer work for money, money works for me. Thank you guys for watching! Click
that like and that subscribe button if you want to see more helpful videos like
this! I’ll see you guys later! you

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  1. Thanks for watching! Please feel free to contribute subtitling this video in your language using this link: http://www.youtube.com/timedtext_video?ref=share&v=TcNpoc-lF0M

    Edit: Thank you to those for letting me know Kiyosaki and Hilo were pronounced wrong in the video. It’s pronounced “KEE-yosaki” and “HEE-low”

  2. Love this video! It makes more sense than all the other click bait videos and even Robert's own videos! It's something I will try to get my kids to learn! Thanks for the video 👍🏼👍🏼👍🏼

  3. I find a lot of liabilities are accrued by the problem people have with delaying gratification. People want their toys now, not later, and in doing so – often to keep up with their neighbors and friends – they take on enormous debt.

  4. The characters are reminiscent of Phineas and Ferb and at 7:08, it looks oddly like the Mayon Volcano in the Philippines. Haha. Thanks for the summary btw.

  5. Para mim, no meu caso atualmente, nada disso resolve, porque não tenho o dinheiro entrando, seja para "liabilities" ou para "assets".

  6. Smashing video really blown away! Sorry for the share however In my opinion more people have to try this web-site here EasyLaptopLife .Com as it provides for simple and easy online based work for every age and no experience is needed. Have fun with it

  7. You need money to make money.. the rich get richer because usually they will trample all over anyone to get even more rich.. money greed power.. Humans are all of these.. with health happiness and love there is no price that can be paid to purchase the 3 most important things in a very short life we are experiencing..

  8. The reality is with no money You have to put years of your life to create that asset by only working long hours and almost having no life but work work and work any maybe you can have a small business and then working so hard to expand that business and then you are 75 years old ,, you can not travel you can not eat lol 😂

  9. Assets cost, they’re not just going to fall out of the sky. You need money to by stocks, you need money for startups so there’s nothing wrong with working a 9 – 5, as long as you can put money toward the assets – that takes self control and commitment but it’s worth it.

  10. So the poor people Robert was talking about isn't the ones who really can't bring themselves up cause they are at the very bottom of society. He was referring to the people who have a mindset that dooms them to be poor, despite being able to bring themselves up.

  11. So how do us poor dads’, with high liabilities and bias child support, rent, food, minimal entertainment, phone, put money away when the taxes are so high?

  12. Most of the people know these rules, but their addiction and lack of leadership and man management ability stops them from becoming rich..you know what I mean

  13. Whenever we start thinking positively we can achieve our dreams because the mind have ultimate powers to unleash new opportunities if we allow our mind to work with a positive note otherwise brain is also like parachute which only works when it is open.

  14. If Every one start business who will be worker who will be doctor care the business
    No good Ida
    Also business most big risk and need money to ran proper business
    Sorry not agree!

  15. Even tho some people quote "money don't buy happiness".
    In this world, Money makes you life much easier.
    With money a person can have a lot of freedom, choices of how to live.
    Without money, the life are obviously miserable when the person have no choices but to work in a workplace whether a person like it or not. Without money, a person get a lot of stress from paying bills, taxes, expenses etc.
    Without money, in case if one of the love ones got sick and you cannot afford to pay for surgery or treatment to save for example your family. Man, that won't end up very well.

  16. It's not people to blame it the such a plane exist by the government and policies who is the ones that convence us that we cannot live without jobs which is totally wrong ….f them😡

  17. Considering all the negativity I see in these comments, getting rich should be real easy, next no competition.

  18. Finally, I knew who was robert's rich dad because I was so confused thinking who was robert talking about. Thanks

  19. So if everyone thinks like this every one can just sit on their ass and the country would shut down. Nobody works!At that point even flippin burgers would be lucrative! It’s a crock.

  20. This concept worked up until 10 years ago when property and houses could be purchased at a reasonable price those days are done. Even buying a small rental wouldn’t be worth it. So yes you need to have money to make money.

  21. Oh, ok.. I think I get it..
    Buy property and rent it out.
    Buy stocks and buy a business. Easy!!
    I guess having a “rich dad” helps if you can freeload at his house while investing “your extra money”.

  22. The life is just like the right and the Left… Many people have read a lot of books in other to make income they just find themselves doing nothing after reading a lot of them…just try this close your eyes inside you discovered what grows inside you its called potential.. The reason why many people are not growing it because they don't want the giant inside them to come outside that is what takes them to where they are today

  23. So life is always about money which gonna make you get rich. However it is kind of sad to see rich people dont take anything to their grave, even after they worked hard for it in their lives.

  24. For most people your profession is your income, for rich your business is the income. From the book "Rich Dad, Poor Dad".

  25. Happiness is the core driving force for humanity. Money can buy security and gratification, two attributes of happiness. Concordant with LDMR, reliance on money-brought happiness will result in ever-increasing insensitivity to it. That is, the more money one has, the less hapiness one could buy with each dollar. If using money is the main way, if not the only way, a person knows to gain happiness, then this person would better be able to make money at a rate porportionate to the growth of the said insensitivity. Otherwise, the person would find out that with all the wealth s/he has, life becomes more miserable. Therefore, a diversified portfolio for happiness is much recommended. Income is absolutely a major factor, but it's far from the dominant one. One would still need health, positive social bonds, knowledge, meaningful life expeirences and vision to approach happiness. Statistics have not been studied to demonstrate the correlation among these factors, but common sense would suggest if a person focuses on any TWO OR MORE of the said factors, others would soon follow.

  26. the whole thing is stupid though, the rich teach like the poor dad so that they can keep being rich because everyone cant think like the rich dad or he wouldnt be rich himself. leaders need followers and followers need leaders or society wouldnt function at all. there is no shame in being the poor dad.

  27. So basically, in a nutshell, use money to invest in assets that give money back to you. Then, minimize expenses from things you don't need, because they are considered liabities. Buying a new car with a loan is a liability. Having cable on your TV is a liability. Bills from your houses are a liability.

    By learning how to increase your money through obtaining assets and decreasing liabilities, it allows you to grow your wealth faster. Minimize your fear of failure because by being fearful of it, you will always be stuck in life. Be open to learning and connecting with new mentors. And find the paths that are most fit for you.

  28. If anyone actually believes this, I hope you make your dreams come true but investigate before you do so that if you don't become rich, you won't be mad at the world.

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