Summary of Rich Dad Poor Dad : Book by Robert Kiyosaki and Sharon Lechter - Full Audiobook

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00:00:00 - 01:00:00

In Rich Dad Poor Dad, Robert Kiyosaki and Sharon Lechter discuss the difference between the goals of rich and poor fathers. Kiyosaki discusses the fear and greed that often motivate people, and how these emotions control our thinking. He also discusses the importance of education, and how it can help people avoid becoming trapped by their emotions.

00:00:00 "Rich Dad Poor Dad" is a book written by Robert Kiyosaki and Sharon Lechter. It is a book about two fathers' contrasting points of view on money, and how it affects the lives of their children. One father, who is rich, offers his young son advice on how to become rich, while the other, who is poor, offers different advice. The book helps the reader to think for themselves and make their own decisions, instead of simply accepting or rejecting one point of view. The book explains that, by automatically saying "I can't afford it," our brain stops working and we become lazy. The rich dad stressed the importance of exercising one's mind, and how doing so can lead to increasedfinancial success.
00:05:00 The two fathers in this video had opposing views about how important it is to learn about money and wealth. One dad believed that it was important to save money and invest in assets, while the other believed that it was more important to be financially competent and be able to take risks. As a result, their different thoughts had a profound impact on their sons' lives. One son became more focused on studying and earning a good job, while the other son became more focused on becoming rich and understanding how money works.
00:10:00 This book is about the six lessons that Robert Kiyosaki learned from his rich dad. These lessons are meant to be simple guides that will help people to grow wealthier, no matter what happens in the world. Chapter one of the book covers the idea that the rich don't work for money - the poor and middle class work for it. The next lesson is about creating a partnership. In this lesson, Robert and his best friend, Mike, come up with a business plan. They convince their mother to give them a one-week extension so that they can start production. The final lesson of the book is about patience and determination. Robert and Mike have to wait for a couple of neighbors to finish their toothpaste so that they can begin production.
00:15:00 The video discusses Robert Kiyosaki's book "Rich Dad, Poor Dad". It discusses how, when the author's father was threatened with eviction, it became Mike's job to tell the neighbors to quickly use up their toothpaste. The author then begins to put together a production line, and his dad drives up with a friend to see two nine-year-old boys with a production line in operation. There is white powder everywhere and they notice a steel pot sitting on top of the coals with tubes of toothpaste melted down in it. The boys' dreams of becoming rich are dashed when their father explains that being rich is illegal. Nonetheless, they continue to clean up the production line's mess, and make plans to talk to Mike's dad about how to become rich.
00:20:00 Robert Kiyosaki talks about the book "Rich Dad, Poor Dad", in which he discusses his experiences working for his dad as a construction supervisor and how it helped him learn about making money. He then offers his son, Mike, the same opportunity to learn how to make money. Mike accepts and begins working for his dad, learning the ropes of the business. Three weeks later, the air conditioning goes out in the store, and Mike and his dad are back to work cleaning cans.
00:25:00 Nine o'clock Saturday morning, nine months after he started working for his rich dad, nine-year-old Michael walks into the office to find him talking on the phone. Michael has a complaint about not being taught anything, and he is not happy. Rich dad calmly tells him that life is the best teacher and that he needs to learn some lessons. He talks about how some people just let life push them around and some people get angry and push back. Michael asks what he needs to learn, and Rich dad tells him that he needs to learn to trust life.
00:30:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the difference between the points of view of a poor dad and a rich dad. The rich dad's point of view is that you should work for money, not rely on it to come to you. The poor dad's point of view is that you should just expect to be able to subsist on what you earn. The rich dad's lessons taught to his son changed his life for the better. If you want to achieve success, it is important to learn from different sources, and not just rely on your parents.
00:35:00 Rich Dad Poor Dad is a book by Robert Kiyosaki and Sharon Lechter. The audiobook follows the story of Kiyosaki's relationship with his father, who taught him the importance of work and money. Kiyosaki stresses the importance of having passion for learning about money, as most people never learn this important topic in their lifetime. He explains that learning how to have money work for you is a lifetime study, and that most people go to college for four years and end up with only an education in money. Kiyosaki encourages his listeners to continue their education by learning from him, and to never stop working towards achieving financial success.
00:40:00 In "Rich Dad Poor Dad", Robert Kiyosaki and Sharon Lechter discuss the difference between working for money and working to have money work for you. Mike, one of the book's narrators, recalls a conversation he and his friend Robert had about earning a raise. Rich Dad tells Mike and his friend that if they use what he's given them, they'll soon be able to handle a higher wage. The two boys are skeptical at first, but eventually agree to Rich Dad's terms. They work for five dollars an hour for three weeks, and upon completing the training, Rich Dad agrees to pay them two dollars an hour, which would make them the richest kids in the world.
00:45:00 In 1956, Robert Kiyosaki's father taught him about the importance of emotions and how they control our lives. He talks about the traps that people fall into when working for money, and how being rich does not solve the problem. He also talks about the emotion of desire, and how it is normal to have it. He advises against the avoidance of money, and says that being attached to money is just as psychotic as being poor.
00:50:00 Rich Dad Poor Dad is a book by Robert Kiyosaki and Sharon Lechter, which discusses the difference between the goals of rich and poor fathers. Kiyosaki discusses the fear and greed that often motivate people, and how these emotions control our thinking. He also discusses the importance of education and career goals, and how to avoid the traps of fear and desire that often control our lives.
00:55:00 Rich Dad Poor Dad is a book by Robert Kiyosaki and Sharon Lechter. It is about the trap that fear and desire can lead to, and how to avoid it. The book discusses the importance of education, and how it can help people avoid becoming trapped by their emotions. Mike asks Rich Dad what the answer is. Rich Dad says that the first step is to learn to use your emotions to think, rather than letting them dictate your actions. If you're willing to learn, he says you'll be able to achieve anything.

01:00:00 - 02:00:00

In the video, Robert Kiyosaki and Sharon Lechter discuss the book "Rich Dad Poor Dad." They discuss how to make money work for you, even when you're not paid. They also discuss the importance of financial literacy, and how to prepare your children for success. In the end, they share a story about a man who lost all his money, and how he eventually recovered.

01:00:00 Rich Dad Poor Dad is a book written by Robert Kiyosaki and Sharon Lechter. It is about the different ways that people can make money, and the advantages that those who learn to think for themselves have over those who rely on their job or their parents to financially support them. Mike, a student, asks Kiyosaki about the difference between emotions and thoughts, and Kiyosaki explains that thoughts are the root of what drives our actions. He goes on to say that most people are too afraid to think for themselves and rely on their emotions instead. This is what keeps them from achieving their goals, as their emotions often control their thoughts rather than their head. Kiyosaki tells Mike that he will teach him how to have a choice of thoughts, and that this is the key to financial independence. He then tells Mike and his friend, Rich Dad, about the gold standard, and the implications of America possibly abandoning it. Rich Dad tells Mike and Rich Dad that if this happens, the poor, the middle class, and the ignorant will be ruined, because they will continue to believe that money is real and that the company they work for or the government will look after them. Mike and Rich Dad revive their old
01:05:00 In the video, Robert Kiyosaki and Sharon Lechter discuss the book "Rich Dad Poor Dad." They discuss how to make money work for you, even when you're not paid. They also discuss the importance of financial literacy, and how to prepare your children for success. In the end, they share a story about a man who lost all his money, and how he eventually recovered.
01:10:00 Robert Kiyosaki, author of "Rich Dad Poor Dad," tells the story of how he and his brother, Mike, were taught how to build a strong financial foundation at a young age. Rule number one is to know the difference between an asset and a liability, and to buy assets if you want to be rich. This is all you need to know, he says, if it is simple enough to be understood by children. Adults who have been taught differently often find it difficult to unlearn or become children again and understand the simplicity of the idea.
01:15:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the difference between assets and liabilities. They say that an asset puts money in your pocket, while a liability takes money out of your pocket. Kiyosaki explains that an asset's value is based on its ability to generate income, while a liability's value is based on its ability to pay back debts. He says that if you can't read numbers, you can't tell the difference between assets and liabilities. He goes on to say that it's the story that counts in financial reporting, and that if you want to be rich, you need to read and understand numbers.
01:20:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the power of money and how it can be used to one's advantage. They go on to talk about the importance of financial literacy and how many people tend to struggle financially due to a lack of understanding. Kiyosaki offers advice on how to use money effectively and how to keep it safe. Finally, they talk about the dangers of being controlled by money and how a better understanding of finances can help one avoid such a fate.
01:25:00 The video discusses the differences between the views of two fathers - one who sees his home as an asset and one who sees it as a liability. The author's highly educated dad never pressured him about his grades, but they did argue about money. The author offers an alternate way of looking at this dogma, which is that owning your own home is better than nothing. He knows that most people will not agree with this argument, but he offers it for the sake of those who do.
01:30:00 The video discusses the difference between an asset and a liability, and how the middle class often struggles due to their poor financial decisions. The Rich Dad Poor Dad book by Robert Kiyosaki and Sharon Lechter discusses how to build an asset column that will generate more income than expenses, leading to a greater financial stability.
01:35:00 The book "Rich Dad Poor Dad" by Robert Kiyosaki and Sharon Lechter recommends that people concentrate on acquiring assets, rather than a bigger paycheck, to build wealth. The most important rule is to know the difference between an asset and a liability, and once you understand the difference, concentrate your efforts on acquiring income-generating assets. This will help you on a path to becoming rich.
01:40:00 In this audiobook, Robert Kiyosaki and Sharon Lechter discuss the importance of minding one's own business. Kiyosaki shares the story of how he learned this lesson firsthand, when he was working as a salesman for an organization that did not focus on the asset column of their business, and was rejected for a loan because of it. He advises listeners to focus on their asset columns, and to do their own research when making decisions about their finances. He also discusses the importance of having a financially secure foundation, and of being aware of one's riskier investments.
01:45:00 The main point of this video is that people's net worth is often inaccurate due to taxes and the fact that selling assets reduces the available money. Robert Kiyosaki recommends accumulating real assets, especially small companies and stocks of startups, rather than liabilities or personal effects. He also stresses the importance of financial literacy.
01:50:00 The video discusses the history of taxes, and how they have been used to punish the rich. Rich Dad Poor Dad authors Robert Kiyosaki and Sharon Lechter explain that originally, taxes were only levied against the rich, and it took a while for the middle class to accept the idea of taxes. Today, taxes are still primarily used to punish the rich, although this may not be the intention of the legislators who pass the laws.
01:55:00 The video discusses the history of taxes and how they have changed over time, with the rich always finding a way to outsmart the intellectuals. It goes on to explain that the rich use various legal mechanisms to reduce their tax burden, such as using Section 1031 of the IRS code. The video concludes by saying that the problem is that the majority of people are not aware of these mechanisms, and as a result, the rich continue to prosper.

02:00:00 - 03:00:00

In the video, "Rich Dad Poor Dad : Book by Robert Kiyosaki and Sharon Lechter - Full Audiobook," the authors discuss the importance of financial education and how it can lead to success. They argue that a person should not just focus on earning money, but should also focus on learning and growing as an individual.

02:00:00 The author discusses the advantages of investing in real estate, noting that as long as you keep trading up in value, you will not be taxed on the gains until you liquidate the property. He also discusses the importance of having knowledge, and how if you don't have it, you are at a disadvantage when competing against those who do. The author's rich dad always encouraged him to land a good job with a strong corporation, which would eventually lead him to starting his own corporation. This advice, combined with his experience working for xerox, helped him develop the skills necessary to be successful in the business world.
02:05:00 Robert Kiyosaki, author of Rich Dad Poor Dad, discusses the importance of financial literacy, investment, understanding markets, and the law in order to build wealth. He advises readers to learn about the benefits and protections offered by a corporation, and to take advantage of the legal tax loopholes that the rich use.
02:10:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the importance of developing your financial IQ. Kiyosaki points out that it is not just a matter of college degrees or good grades that count in the real world, but something more than just grades. He shares the story of Alexander Graham Bell, who invented the telephone, and explains how fear and self-doubt can hold us back from achieving our financial potential. He encourages students to learn to take risks and be bold in order to achieve their financial goals. This period of time we are currently in is an exciting one, and those who are prepared for the changes will prosper greatly.
02:15:00 The video discusses the book, "Rich Dad, Poor Dad," by Robert Kiyosaki and Sharon Lechter. The book discusses the importance of financial education, and the game "Cash Flow Classic" is used to illustrate the concepts. The video argues that by teaching people how to think creatively and take calculated risks, they can become rich quicker.
02:20:00 Robert Kiyosaki and Sharon Lechter discuss the idea that money is not really real, and that it is created through agreements - usually in the form of trading stocks. They discuss the importance of developing your financial intelligence, in order to be able to make the most of opportunities that come your way.
02:25:00 The author discusses how, during the Phoenix real estate market crash of 2008, he was able to make quick, low-risk investments in properties by shopping at bankruptcy attorney's offices and courthouse steps. These transactions, plus others he and his wife Kim made during the market's downturn, resulted in them having a net worth of over a million dollars by the end of the year. The author argues that, by being intelligent with their finances, individuals can create substantial wealth over time, even in difficult economic conditions.
02:30:00 The author, Robert Kiyosaki, explains how a simple financial process, such as investing in real estate or small cap stocks, can create hundreds of thousands of dollars with little money and low risk. He also warns against listening to the standard advice of work hard and save money for about 30 hours of work.
02:35:00 In this video, Robert Kiyosaki and Sharon Lechter discuss how to get rich. Kiyosaki emphasizes the importance of common sense and math when it comes to financial success, while Lechter emphasizes the importance of experience and financial wisdom. Kiyosaki also discusses the importance of secure investments and how to make them profitable.
02:40:00 Robert Kiyosaki and Sharon Lechter discuss their book "Rich Dad, Poor Dad", which discusses how differing financial philosophies can lead to different levels of success. The book provides 10 steps that can help anyone become wealthy.
02:45:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the differences between the two types of investors: those who buy packaged investments such as stocks and bonds, and those who create their own investments. The former is the more common type, and the latter is the more professional type. The second type of investor, who is the more successful type, needs to learn how to put the pieces together to achieve success. This is where the real wins and losses occur.
02:50:00 This YouTube video recounts the story of two fathers - one educated and successful, the other uneducated and unsuccessful - and how their different approaches to specialization led to different paths in life. The educated father recommended that his son pursue a career in writing, while the uneducated father advised his son to become a salesperson, believing that this would be a more financially secure path. The son followed the advice of his uneducated father and became a salesperson, with little success. Eventually, the son's education and experience led him to write a best-selling book, and he is now a professional writer.
02:55:00 The video, "Rich Dad Poor Dad : Book by Robert Kiyosaki and Sharon Lechter - Full Audiobook" is a discussion of the book, Rich Dad, Poor Dad by Robert Kiyosaki. The book discusses the idea that education and learning are important to economic success, and that a person should pursue a variety of different careers in order to gain a wide range of skills. The video discusses the idea that a person should not focus solely on earning money, but should also focus on learning and growing as an individual.

03:00:00 - 04:00:00

In the video, Robert Kiyosaki and Sharon Lechter discuss the importance of education, having a good work ethic, and investing in real estate. They also offer advice on how to become successful by learning from experts and sticking to a formula.

03:00:00 In "Rich Dad, Poor Dad," Robert Kiyosaki and Sharon Lechter discuss the importance of education and how it can help people achieve success in life. They also discuss the importance of having a second job that will teach you a new skill, and the importance of unionization.
03:05:00 Robert Kiyosaki's book "Rich Dad, Poor Dad" discusses the importance of specializing in one's career if one wishes to be successful. Although this may initially lead to lower earnings, it will ultimately lead to greater long-term success. The author also advises parents to encourage their children to learn more than just their job skills, and to work with others who are smarter than they are.
03:10:00 Robert Kiyosaki and Sharon Lechter discuss the importance of selling and marketing skills. They discuss how people often have difficulty with these skills due to their fear of rejection. Kiyosaki advises that one way to overcome this fear is to be financially literate, and then to manage the fear of losing money. His rich dad taught him this approach, and it was instrumental in his success. Poor dad, on the other hand, avoided the topic of money, and as a result, failed to achieve any financial success.
03:15:00 In this video, Robert Kiyosaki discusses the concept of "failure inspiring winning." He explains that, for most people, failure is far greater than the joy of success. This is why most people struggle financially - they are afraid to lose money and thus do not invest in opportunities that could lead to greater success. Kiyosaki shares the story of how he turned a financial loss into a financial win by learning from his failures. He also recommends that people learn from the failures of others in order to become successful.
03:20:00 The video offers a brief overview of the book "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter. According to the video, successful investors are unbalanced and focused, rather than balanced and safe. The video also highlights the importance of attitude in investment success.
03:25:00 In "Rich Dad Poor Dad," Robert Kiyosaki and Sharon Lechter discuss the importance of investing in real estate. They discuss the concept of "buyer's remorse," which is the fear of buying something and then regretting it later. The authors also discuss the importance of analysis and how it can help you see opportunities that other people miss. Finally, they discuss the importance of a great property manager.
03:30:00 In this video, Robert Kiyosaki and Sharon Lechter discuss how the concept of a "stop" can help minimize losses in the stock market. A stop is simply a computer command that sells your stock automatically if the price begins to drop. By understanding how a stop works, investors can minimize their losses and maximize some gains.
03:35:00 Rich Dad Poor Dad is a book by Robert Kiyosaki and Sharon Lechter, and it discusses the importance of having a strong work ethic and how to overcome bad habits. The book also discusses the importance of paying one's bills on time, and how to overcome the fear of the government or other people one owes money to.
03:40:00 In this video, Robert Kiyosaki and Sharon Lechter discuss the book "Rich Dad, Poor Dad." Kiyosaki says that most people let bullies, such as government officials and bill collectors, push them around because they don't have good money habits. He offers 10 steps to develop one's financial genius, including finding a reason greater than reality and setting a goal beyond oneself.
03:45:00 The video discusses how Robert Kiyosaki, author of "Rich Dad, Poor Dad", believes that having strong emotional reasons for wanting something is more important than having purely financial reasons. He also discusses how, through his personal experiences, he has learned that it is easier to learn and retain knowledge when it is presented in a way that is easy to understand. This has helped him to stay disciplined in his investments and to think more analytically about problems and trends.
03:50:00 The video discusses how to become successful by learning from experts and then sticking to a formula. It is important to be true to yourself and to be willing to take risks, as this is how you become successful.
03:55:00 Robert Kiyosaki, author of "Rich Dad, Poor Dad," recommends paying yourself first with money saved from your income. Paying yourself first can help increase your financial literacy and help you better manage your money. Kiyosaki also recommends mastering management skills, which are necessary for any business.

04:00:00 - 04:40:00

In the video, Robert Kiyosaki discusses his book "Rich Dad Poor Dad" and its main points. He talks about the importance of paying yourself first, investing wisely, and having a good return on investment. He also shares a story of how he and his friend bought a house without using a bank.

04:00:00 The video discusses the idea of "paying yourself first," or putting your income before paying your debts. The example given is of paying an accountant and bookkeeper well so that they will do their best work for you, and not worry about their own finances. There are various reasons why paying yourself first is a good idea, including the fact that it will help you avoid consumer debt, build up assets, and stay financially intelligent. The video concludes by recommending that you also pay your brokers well.
04:05:00 The author of "Rich Dad, Poor Dad" discusses the importance of having a good broker who can provide information as well as educate you on the market. He also discusses the importance of having a good return on investment (ROI) in order to make money from your investments.
04:10:00 Robert Kiyosaki and Sharon Lechter share the story of how Ray Kroc, founder of McDonald's, became successful. They discuss the importance of financial intelligence, and how to use assets to buy luxuries and improve one's financial situation. Kroc advises that it is important to learn how to have money work for you, rather than relying on external temptations.
04:15:00 Robert Kiyosaki's book, "Rich Dad, Poor Dad," talks about the power of money and how to be smarter than it. Kiyosaki's poor dad taught him the importance of being charitable and giving back to others, which lead to him being wealthier than his rich dad. Kiyosaki stresses the importance of teaching others how to be smarter with money, and offers practical advice on how to do this.
04:20:00 The author describes how he uses different strategies to find good deals in real estate, including driving or walking a certain area, searching the internet, and making offers. He also says that it is important to have a good business, people, and investors, and that it is just like dating.
04:25:00 The author discusses how to identify opportunities in the market and how to take action before receiving financial rewards. He shares a story of how he and his friend bought a house without using a bank.
04:30:00 The book, "Rich Dad Poor Dad," is about Robert Kiyosaki's experiences as a poor kid and his father's experiences as a rich guy. Kiyosaki shares the lessons he learned from his father, which include the importance of converting earned income into passive and portfolio income as quickly as possible to reduce taxes. He also discusses the four different types of people who make up the world of business and how people can change their quadrant.
04:35:00 Robert Kiyosaki's book, "Rich Dad Poor Dad," discusses the different types of income a person can generate and how to convert earned income into passive and or portfolio income. The book also discusses how to invest wisely, using common sense and basic financial knowledge. The video follows the audiobook, and goes into more detail on the different types of investment strategies, and how to use them to make money in both good and bad markets.
04:40:00 Robert Kiyosaki is the author of "Rich Dad Poor Dad." He discusses his book and its main points, which challenge conventional wisdom about money, investing, and debt. He has spoken about his ideas in many different media outlets, and his books have topped international bestseller lists. He continues to teach and inspire audiences around the world.