Book summary · 2 free lessons
Rich Dad Poor Dad
Robert Kiyosaki
Book summary in short videos · 10 lessons
Lesson 2 of 10
The Rat Race
Why the rich don’t work for money
- 1 Two Dads 1:34
- 2 The Rat Race 1:40
- 3 Assets and Liabilities 1:25
- 4 Mind Your Own Business 1:23
- 5 Financial Intelligence 1:17
- 6 Spot the Opportunity 1:22
- 7 Work to Learn 1:09
- 8 5 Obstacles 1:24
- 9 Start Today 1:19
- 10 Summary and Critique 1:31
Lesson text: The Rat Race
Every month your paycheck arrives. Before the week is over, it’s gone. Then you wait for the next one. Sound familiar?
Robert Kiyosaki calls this “the rat race”: like a squirrel in a wheel, you run as fast as you can, but you never get anywhere.
When the author was nine, he asked rich dad to teach him how to make money. Rich dad gave him a job in his store, for pennies. And then he stopped paying him altogether.
The boy was angry. But that was exactly when the main lesson began: most people are ruled their whole lives by two emotions — fear and greed.
Fear: “What if I lose my job? What about the bills?” So people go to work even when they don’t like it.
Greed: your salary goes up — and right away there’s a new car, a bigger house, a new loan. Expenses grow too, and you’re back on the same wheel.
Rich dad’s view: the problem isn’t a lack of money. The problem is not knowing how money works. A bigger paycheck won’t fix that.
The rich don’t work for money. They make money work for them: money becomes an asset that brings in new money every month.
To do that, you have to learn to manage your emotions. When fear comes, don’t panic — think. When desire comes, don’t spend right away — stop.
Take two friends who both got a raise. One bought a new phone on installments. The other spent the same money on tables and chairs that he rents out for weddings. They bring in money every month.
Today’s question: are you working for money, or is your money working for you?
Next time — assets and liabilities: the most important distinction in the book.
About this series
Based on Robert Kiyosaki’s famous book: two dads, two ways of thinking about money. Assets vs. liabilities, why the rich don’t work for money, financial literacy, your own business, and concrete steps to start today.
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