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Cover of Rich Dad, Poor Dad
B1 · 3,330 words · English

Rich Dad, Poor Dad

Robert T. Kiyosaki

Rich Dad, Poor Dad by Robert T. Kiyosaki offers a transformative look at the difference between financial independence and financial struggle, through the contrasting perspectives of two father figures in his life. "Rich Dad," his best friend's father, was a self-made entrepreneur who taught Robert to build wealth through assets, investments, and financial education, while embracing calculated risks. In contrast, "Poor Dad," Robert's own father, followed traditional beliefs of job security, saving, and relying on formal education, but struggled financially. The book emphasizes the importance of understanding the difference between assets and liabilities, the value of financial literacy, and the power of passive income. By shifting mindset and focusing on acquiring assets, taking risks, and continually learning, anyone can break free from the "rat race" and achieve lasting financial freedom. Through relatable lessons and practical advice, the book challenges readers to think differently about money and take proactive steps towards building wealth.

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Words you’ll meet

The words readers of this text looked up most, each with its meaning and the line it comes from.

assets / ˈæˌsɛts /noun

A useful or valuable thing or quality

His philosophy is centered on building assets—things that generate income.

propertyresourceinvestment

liabilities / ˌlaɪəˈbɪlətiz /noun

debts or obligations

Poor Dad, by contrast, focuses on reducing liabilities.

debtobligationfinancial burden

emphasizing / ˈɛmfəˌsaɪzɪŋ /verb

To give particular emphasis or importance to something

His beliefs about money were more traditional and cautious, emphasizing hard work.

highlightingstressingunderlining

financial / fəˈnænʃəl /adjective

Relating to money or how it is managed

He achieved financial independence through careful investments.

monetaryfiscaleconomic

achieve / əˈtʃiːv /verb

To successfully reach a goal

He achieved his goal of running a marathon.

accomplishattainreach

mindset / ˈmaɪndˌsɛt /noun

A mental attitude or inclination

Her mindset was focused on achieving her goals.

attitudeoutlookperspective

struggles / ˈstrʌɡ.əlz /verb

to contend with a problem or difficulty

He struggles with math.

find difficulthave difficultywrestle with

perspective / pərˈspektɪv /noun

A particular way of considering something

From Rich Dad's perspective, financial education is key.

viewpointstandpointpoint of view

cautious / ˈkɔːʃəs /adjective

careful to avoid potential problems or dangers

He was cautious in his approach to the investment.

carefulprudentwarycircumspect

contrasting / kənˈtræstɪŋ /adjective

Notably different

The book highlights the contrasting perspectives of the two main characters.

differentdistinctopposite

figure / ˈfɪɡər /noun

a person or animal that is important or famous in some way

The other figure was "Poor Dad", Robert's own father.

characterpersonagepersonality

paycheck / ˈpeɪˌtʃɛk /noun

Living paycheck to paycheck means relying on each paycheck to cover immediate expenses, with little to no savings

Many Americans live paycheck to paycheck.

financial instabilityliving hand to mouth

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