Rich Dad Poor Dad?

Question

Can you summarize chapters 3 and 4 of rich dad poor dad?

Answer 1

In Chapter 3, Kiyosaki uses his balance sheets to explain the finances of his rich dad (wealthy people) and his poor dad(poor people/middle-class). Basically, rich people buy assets that generate income thereby increasing there monthly revenue. Poor dad purchased liabilities that had a monthly cost and reducing his monthly income thereby. It is important to note that the accounting definition of asset differs from Kiyosaki's definition, esp. with regards to a person's house. While this is an asset from an accounting perspective, Kiyosaki calls it a liability because it costs money to maintain and does not earn income. Chapter three also notes that the majority of poor and working class people earn the majority of their income through wages/work while the wealthy earn them through passive income/investments. In other words, if a poor/middle class person did not work for a year, they would be dead broke. If a rich person did not work for a year, they would be richer than they were last year. It is a critical point of Kiyosaki's argument that people need to acquire assets.

Chapter 4 is a summary of his philosophy that in order to become truly free, people need to acquire assets that create money and not liabilities that destroy them. He recommends starting small and right now and not waiting for the next raise or promotion. This chapter really serves as an introduction to the next section of the book.

Answer 2

3. Rich Dad loses the farm becomes Poor Dad.
4. Poor Dad wins the lottery and becomes Rich Dad.

Answer 3

The rich dad in the book may teach u how to make 50 times of 50 dollars your dad is giving you or even 500 times, 5000 times if you do it successfully. READ THE BOOK..

Answer 4

If u need someone else to summarize part of this book, this book will not help u. do not waste ur time, it is not meant for u. u want food to b chewed by someone else before u swallow it! send me the book. i have few friends who will better utilise it. (I have read it 6 yrs back and now enjoy financial freedom in my retirement.)

Answer 5

yes

Answer 6

GOOD... read it over and over and tell others to read it !!!

Answer 7

why not?