A quote by Robert T. Kiyosaki (2024)

FAQs

What was Robert T. Kiyosaki's famous quote? ›

The thing I always say to people is this: 'If you avoid failure, you also avoid success. ' Inside of every problem lies an opportunity. Financial freedom is available to those who learn about it and work for it.

People who avoid failure also avoid success. You're only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich.

“Don't be addicted to money. Work to learn, don't work for money. Work for knowledge.” “I am concerned that too many people are focused too much on money and not on their greatest wealth, which is their education.”

Robert Kiyosaki's Financial Philosophy

Kiyosaki's philosophy about money is simple: You don't need to have a high income to become rich. Instead, he says, the key to building wealth lies in two things: Building a portfolio of passive income-generating assets. Minimizing debt.

If money is smarter than you, you will work for it all your life. To be the master of money, you need to be smarter than it. Then money will do as it is told. It will obey you.

Best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes the world needs more entrepreneurs who will create jobs.

Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad,” has argued — against conventional wisdom — that “the historical advice to 'save' is no longer a sufficient way to prepare for retirement.” According to the “Rich Dad” blog, you won't be able to retire if you rely on saving money alone.

Kiyosaki prefers hard assets like silver over financial ones like the U.S. dollar for several reasons. He thinks it makes no sense that people cling to cash because it constantly loses value — not in the currency markets but due to inflation and rising deficits.

“The rich get richer, and the poor get poorer” is a myth

“For unto every one that hath shall be given, and he shall have abundance: but from him that hath not shall be taken away even that which he hath.”

What is Rule #1 in Rich Dad Poor Dad? ›

Hence, the question has been solved in detailed explanation manner. 1) What is rule #1? Rule #1 is "Don't work for money." Rich Dad explains that the rich don't work for money, they make money work for them. This means investing in assets that generate income, such as rental properties, businesses, and stocks.

A homeowner is considered house-rich, cash-poor when they have wealth tied to their home but lack readily available cash to meet their everyday living expenses. Being cash-poor can result from a myriad of factors, such as unexpected expenses, debt, budgeting issues, medical concerns, or reduced income.

The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.

Kiyosaki illustrates a grim outlook for the global economic landscape. “We as a world have never been here before,” he stated, referring to the interconnectedness of global markets. "For example, 100 years ago, a stock market crash in England didn't affect anybody. Now, if the U.S. goes down, the world goes down."

Kiyosaki's definition of wealth is based on the idea that time is the most valuable asset of all. The more steady flow of money you have, the more time you can free up to do the things you enjoy. If you have enough money, you can even afford to retire early and live off your passive income.

He defines them as: Assets are things that bring in money, such as real estate, stocks, and businesses. Liabilities, on the other hand, drain money from your pocket. These include home or car loans, credit card debt, and more.

It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ).

Robert Kiyosaki, the founder of the “Rich Dad, Poor Dad” empire, says that there are six basic words that are key to financial literacy and education: income, expense, asset, liability and cash flow. The last “key” is a combination of two words, making six total terms that Kiyosaki finds essential.