Rich dad poor dad explained in just 10 sentence

Rich Dad Poor Dad" contrasts the financial philosophies of the author’s two fathers: his biological "Poor Dad" and his best friend’s "Rich Dad."

Poor Dad, a highly educated man, believes in job security, saving money, and avoiding risks

Rich Dad, a successful entrepreneur, advocates for financial education, investing, and taking calculated risks to grow wealth.

The book emphasizes that financial literacy is crucial for financial success, which is often not taught in traditional education systems.

Assets, according to Rich Dad, are investments that put money into your pocket, like real estate, stocks, and businesses.

Liabilities, on the other hand, are things that take money out of your pocket, such as mortgages, car loans, and credit card debt.

Kiyosaki stresses the importance of understanding the difference between assets and liabilities to build and sustain wealth.

The book encourages readers to work to learn, not just to earn, and to seek opportunities to acquire new skills.

It also highlights the significance of having multiple streams of income rather than relying on a single paycheck.

Ultimately, "Rich Dad Poor Dad" teaches the mindset and principles needed to achieve financial independence and build lasting wealth.