RICH DAD’S SUCCESS STORIES
Why should you read this summary?
Are you always running out of money? Are you eager to learn how to become rich? This book contains different stories of how people obtained financial success. All they had to do was follow the Rich Dad’s advice. Many people have changed from being poor to rich. You can do it too. This book will guide you. Learn more and earn more with this book.
Who should read this summary?
Bread winners of the family
About the author
Robert T. Kiyosaki is the author of the bestselling book, Rich Dad, Poor Dad. Robert is also the founder of the Rich Dad company. The company aims to educate people about personal finance through books and videos. Robert lives in Phoenix, Arizona with his wife, Kim Kiyosaki.
RICH DAD’S SUCCESS STORIES
Real-life success stories from Real life people who followed the Rich dad lessons.
Robert T. Kiyosaki
What is the secret to being financially secure? Is it possible not to constantly worry about money? How do rich people keep being rich? There is no one formula for achieving financial stability. That is what the people who have read Rich Dad learned. They learned to follow the steps given by Rich Dad. These people also improvised along the way. In this book, you will know how they did it. You will know how to make the best out of your situation. Are you ready to make your own success story?
Everyone wants financial stability. How nice life would be if you did not have to think about financial problems? Rich Dad is here to tell you that it’s possible. Many are living the life you want. No, they were not financial geeks. Neither did they have lots of money to fall back on.These people had humble beginnings, like you.They learned and achieved financial security through CASHFLOW. CASHFLOW is a board game created by Robert Kiyosaki. You might be laughing at how absurd it is. But it’s the truth. CASHFLOW makes it easy to understand money matters. Most especially, it teaches you how to think like a rich person.
Many CASHFLOW players were in awe of its effectiveness. It taught them new angles when it comes to investments. It also made them reconsider their relationship with money in general.Take the story of married couple Ed and Terry Colman. Like many people, Ed had financially irresponsible parents. Ed’s parents did not talk to him about the importance of spending money wisely. As soon as Ed had money, he would spend it.Halfway through college, Ed quit. Terry also quit midway through her college education. Education was seen as unimportant during their time. In the 1960s, being a hippie was the greatest thing you could be. From a hippie’s perspective, money was disgusting. It was a way for capitalist pigs to turn you into greedy people. Ed and Terry were hippies, and they were all about spreading love. They did not care for finance.
The couple continued to live life this way. They worked just so they had enough money to survive. Earning more was at the bottom of their goals. Spending money was at the top. This carefree perspective changed when their son, Jake, was born.Ed and Terry panicked. What would happen to their family twenty years from now? Would they survive if they did not have a savings account? For the first time, the couple carefully thought about their future. They realized they needed to grow up.The start of their business journey began with talking to a dad in the playground. Ed was watching Jake as he played with the other kids. Eventually, Ed and the other dad started talking. The other dad was in network marketing. This captured Ed’s attention. From there, Ed and Terry started attending business seminars. They signed up for sales training as well. They also read personality and self-development books. The couple became financially educated.
Armed with knowledge, Ed and Terry got into investing. Ed was given a few thousand dollars after his grandparents passed. He used this to invest in stocks in reliable companies. Over three years, their investments rose to a surprising $80,000. But this is where Ed messed up.He failed to monitor the ever-changing stock market closely. He also failed to get an advisor to help him with their stocks. When the market collapsed, their portfolio was down to $46,000. Ed and Terry lost almost 50% of their investment.It must have been divine intervention. Because the next day, the couple spotted the Rich Dad, Poor Dad book. They followed all of the advice in it. They even began playing CASHFLOW. The financial knowledge made them even more confident. One day, Ed and Terry heard a talk about housing deals. The process and terms were so familiar to them because of CASHFLOW. They decided to go for it.
Through their persistent desire to learn more, Ed and Terry thrived in real estate. Their analytical skills were honed by CASHFLOW. They also constantly sought out advice from other financial literates. Their properties were constant sources of income for them.Ed and Terry successfully grew up. They took the time to figure out how the financial world works. Because of their perseverance, they were rewarded handsomely. They could think about the future without worrying themselves to death. Being financially secure changed their lives.
A Different Education
Money is an emotionally charged topic. Some get excited, scared, or distressed when it comes to money matters. Because of Rich Dad, Poor Dad, many readers had a change of heart. They were not afraid to talk about financial topics anymore. Instead of letting money rule them, it was the other way around. Valerie Collymore, M.D., was ridiculously intelligent. She had a thriving career as a doctor. But she felt incompetent when it came to money. She wanted to make risky but rewarding financial ventures. But the thought of failure always held her back. Valerie continued to live a safe life. Her career path allowed her to have a slow but secure financial future.
One day, Valerie met some people who changed her perspective about money. These people came from humble backgrounds. But they were extremely rich. That day, Valerie adopted a new mindset. No number of degrees and diplomas can help you become financially smart. If you want something safe, you can pursue a job that is related to your degree. But Valerie was determined to push herself. She wanted to have a good financial future.Valerie decided to stock up on knowledge about money. She read Rich Dad, Poor Dad. It made her realize how much she was missing. Don’t get it wrong. Valerie and her family were doing well. They had enough money to spoil themselves. But Valerie admitted that their lifestyle was not ideal. A lot of money was wasted just because they knew they had money to waste.
Her family’s future was uncertain. Valerie had quit her job as a pediatrician to focus on her daughters. What would happen if her husband, who is also a doctor, would quit? Valerie was terrible when it came to financial affairs. Her knowledge of the medical field could not help her balance their expenses and income. But Rich Dad, Poor Dad supplied Valerie with the financial knowledge she needs. She was not afraid to talk about financial security anymore.When faced with financial issues, Valerie straightened her shoulders. She asked questions and read about it. Before, Valerie was afraid. But Rich Dad, Poor Dad taught her to read up. If she were unsure about something, Valerie would look it up online. Often, she would also turn to a trusted friend who knew about financial matters. Valerie finally realized that her fear of money was solvable. All she had to do was to stay informed.
Better Than Winning the Lottery
Knowledge helps you become what you want to be. If you study law, then you have a big chance of becoming a lawyer. If you study medicine, you can become a doctor. Being financially free is a good feeling. It gives you the option to pursue other paths aside from your degree. It can be terrifying to leave your comfort zone. Why rock your stable life, right? But know that there is more out there for you. You might be closer to financial freedom than you think. Dare to take the risk. You might see yourself in Thomas Kotula. He worked different jobs to make ends meet. He was not satisfied with his work. But he had to do it to survive. Thomas knew that there was something better for him. However, he did not dare to find it. Thomas’s bank account was empty. His retirement account was nonexistent. But after reading Rich Dad, Thomas turned it all around. He had $90,000 in his bank account. He was so financially secure that he was confident he could retire by 40.
What made the difference? Thomas also got into real estate. Just like Ed and Terry, he learned about it. He also played CASHFLOW. Getting into real estate was something familiar to Thomas. After all, he played the board game quite religiously. Thomas ended up having 5 single-family homes. The passive income kept coming in because tenants were consistent. For each family home, Thomas would receive about $600 a month. This would increase every three years or so. Of course, things were not so easy at first. Thomas had to choose which properties to buy. There were also expenses he failed to consider. But Thomas managed. He kept reading Rich Dad, Poor Dad.
He would play CASHFLOW with his family. When he was stuck on a problem, he asked for help. Thomas realized just how important financial knowledge was. Nothing is embarrassing about asking for help. It’s okay if you do not have the answer to everything. Lastly, Thomas lives by this piece of wisdom. If you do not see yourself as rich, you will never become one. People always rely on easy ways to have lots of money. The lottery is an example. But depending on luck will get you nowhere. Endless opportunities are waiting for you. All you have to do is to take advantage of them.
Never Too Early
Being young should not stop you from achieving financial freedom. You don’t need to have an income to start thinking about money. As early as now, even if you are a student, you can set financial goals. That is what several youths did when they read Rich Dad. They had the capabilities to have passive income. Their knowledge expanded when they played CASHFLOW. Courage is what these youths had. They were not scared to fail. They knew that their failures could lead to success. There is an opportunity in each dollar you have. Your allowance can be turned into an asset. Investments are rewarding. You should become familiar with unfamiliar terms such as assets and liabilities. Being financially secure can start in your youth.
Allison Kubala discovered Rich Dad, Poor Dad when she was around nine years old. Allison’s mother would play the audiotape of the book while they were on the way to school. It changed Allison’s relationship with money. Being young did not mean that her only source of “income” was her allowance. Rich Dad made her realize she could start a business. When she did not have class, Allison would walk around the neighborhood. She would sell decorated stones and candles. No matter how small, Allison still managed to make money. She wrote down how much she earned and how much she spent.
Eventually, Allison stopped going door-to-door. She discovered the wonders of the Internet. Her mother helped her set up a website. From there, Allison posted her handmade decorations. Using the money she earned, Allison made business cards. She gave it to everyone at school and church. Allison’s business is doing good. Her expenses are usually between $20 and $30. So far, she has earned about $60. Not bad for someone who just started in entrepreneurship. And a young one at that!
A New Strategy
Perspective is everything. Suppose you’re intimidated by everything money-related. How on Earth are you going to become financially secure? You would be surprised that this is a common problem, even among those who deal with personal finances. Yes, they might be good when it comes to handling their client’s finances. But some are struggling with their money matters. Brian Eagleheart was drowning in debt. He had student and car loans. On top of that, he was spending money that he did not have. And yet, Brian was making a living by being a financial consultant. His personal and professional life could not have been more different. Then, Brian stumbled upon Rich Dad, Poor Dad. He also bought CASHFLOW. Rich Dad offered simple yet effective money strategies. Next, Brian bought and read Rich Dad’s Retire Young, Retire Rich. It made him realize what his weak points were when it came to money.
Because he took control, Brian changed his financial situation. He was able to save about $400 a month. He even had money set aside to give to charity. Brian also realized he had to take action. There were many opportunities to get rich.So, he looked up real estate properties in Portland. Brian made a list of the properties he liked. From 75, he narrowed it down to just 1 single-family house. He purchased it in 2002. Of course, he did not do this all alone. Brian constantly sought advice from trusted people. He had a tax advisor, an attorney, and a real estate agent. Brian estimated that he could live off this passive income after two years.Financial security made Brian’s life better. He no longer worried about his future. He was looking forward to it. Brian’s past financial decisions helped him grow. Initially, he was ashamed of how poorly he managed his money. But it inspired him to do better.
Repeat this line every day. “Don’t work for money, make money work for you.” You become a slave to a piece of paper if you are ignorant. You can also become a slave because you’re afraid. You are afraid of not having enough money, and fear can stop you from attaining financial security. Take charge of your life. Dare to make bold but well thought of moves. You might just get what you want. Stacey Baker had a poor view of life. With this poor view came poor thinking. She did not finish high school. Stacey was also a single mother. She did not think life would get better. Stacey always thought she would be stuck with this kind of life forever.
Rich Dad changed her life. Despite her circumstances, Stacey found a way to become financially responsible. She constantly used Rich Dad as her guide. As time passed, Stacey grew confident. She explored financial ventures bravely. Now, she’s practicing medicine, and she has two house properties. Stacey had a hard life. She grew up in a low-income family. The small money they had was barely enough to help them survive. This damaged Stacey’s confidence. She thought that she would never be successful. This resulted in her not trying at all. At sixteen, she dropped out of high school. Stacey went on to become a mail sorter. At 30 years old, her money problems started piling up. Stacey had a son to raise. She was also in debt. Her salary barely covered food expenses. Then, one day she read Rich Dad. She also went on to play CASHFLOW.
Stacey’s life changed. She learned that there were many opportunities for her out there. Just because she was poor did not mean she could not be rich. Stacey and her friend—who was a doctor—managed to buy a clinic. They had to take out loans to pay for it upfront. But they were confident about this business opportunity. They had Rich Dad to guide them after all. They also had an attorney and financial advisor to help them. The clinic was a success. Stacey now owns about 75% of the clinic’s profit. But she did not stop there. Stacey went on to the real estate. She found success in this field as well. However, not all of her business ventures were successful. Stacey learned to read up. She armed herself with knowledge. She never stopped learning. She also realized the importance of having a team. Stacey knew that she could not do it all alone. And that is okay to admit it. Many people fail because they refuse to acknowledge this. As the saying goes, no man is an island.
You learned of the people whose lives were touched by Rich Dad, Poor Dad. All came from different backgrounds. All of them thought financial security was impossible. Robert Kiyosaki proved them wrong through his books and board game, CASHFLOW. You learned that age is just a number. You are not too old or young to be financially smart. Being wise with your money will change your life. You learned the power of practicing what you learn. The stories in this book always highlighted CASHFLOW. The game taught these people how to analyze every financial move.
You learned that knowledge would deliver you halfway to your goal. People who wanted to learn would be better. They were not content with their financial situation. So, they read up. Resources are everywhere. All you have to do is to read and listen. You learned about making your destiny. Business opportunities won’t find you. You have to actively seek them out. Gain knowledge and experience. Be bold in making calculated risks. All your money worries can be stopped. You can be like the people in this book. Start changing your perspective on financial matters. Earn more financial knowledge. Think positively about changing your financial situation. You will feel lighter, happier, and more motivated.