Summary of Rich Dad, Poor Dad

Rich Dad, Poor Dad is a 1997 book by Robert Kiyosaki, an American entrepreneur. It focuses on the importance of financial literacy and financial independence. The book is organized into three parts, as the title suggests. In the first part, Kiyosaki contrasts the financial approaches taken by two fathers — his biological Dad, who was highly educated but fiscally irresponsible, and the “rich dad”, the father of his childhood friend Mike, who was wealthy yet less formally educated. The second part focuses on the nine steps to financial freedom outlined by Kiyosaki, with examples of how he and Mike learned from their respective fathers. The lessons cover various topics such as investing, budgeting, and entrepreneurship. In the final part, Kiyosaki provides more practical advice to help readers build their own financial independence. He guides readers through the different types of businesses and investments that they can make. Along the way, Kiyosaki also highlights the importance of having mentors and coaches who can help readers make the most of their money.