43 pages • 1 hour read
Robert Kiyosaki, Sharon LechterRich Dad Poor Dad
Nonfiction | Book | Adult | Published in 1997A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality Study Guides with detailed chapter summaries and analysis of major themes, characters, and more.
Chapters 6-7Chapter Summaries & Analyses
Chapter 6 Summary: “Work to Learn—Don’t Work for Money”
In Chapter 6, Kiyosaki shifts the focus again to the contrast between the financial philosophies of his poor dad and rich dad. Kiyosaki reminds the reader that his poor dad, despite his intelligence and education, prioritized job security and working for money. In contrast, his rich dad’s path to becoming a millionaire was marked by his dedication to working to learn rather than solely for earnings.
Kiyosaki imparts advice to young people, urging them to prioritize learning over immediate financial gains. More specifically, he suggests looking ahead to identify the skills they wish to acquire before committing to a specific profession and potentially becoming trapped in the Rat Race. Kiyosaki’s own journey serves as an example of this philosophy. After college, he joined the Marines, where he learned essential business skills related to leadership and people management. Following his military service, Kiyosaki worked at Xerox, where he overcame his fear of rejection, emerging as one of the company’s top salespeople. Eventually, however, he ventured into entrepreneurship, leaving the corporate world to establish his own business.
After sharing more about his own professional trajectory, Kiyosaki then delves into the synergy of management skills crucial for business success. As he emphasizes the importance of mastering cash flow management, systems management, and people management, he reinforces the idea that these skills are central to achieving financial stability and building wealth, reinforcing the book’s overarching message that financial education and proactive learning are essential components of achieving financial independence.
Chapter 7 Summary: “Overcoming Obstacles”
In Chapter 7, Kiyosaki explores the importance of managing fear, which he claims is the primary difference between rich and poor people when it comes to financial matters. He then clarifies that this fear is not about common phobias but rather the fear of losing money and how people handle that fear. Moreover, Kiyosaki identifies that this fear, along with cynicism, laziness, bad habits, and arrogance, are the five major obstacles that hinder people on their journey to financial independence.
Kiyosaki acknowledges that losing money is an inherent part of investing, and rich individuals have experienced such losses. In contrast, many poor individuals have never invested due to their fear of losing. He encourages readers to face this fear and learn from their financial setbacks, emphasizing that avoiding investment altogether is not a solution. Naturally, doubts and “What if?” scenarios often undermine self-confidence, particularly when others, such as friends and family, constantly remind individuals of potential pitfalls. However, Kiyosaki advises readers not to succumb to cynicism and emphasizes the importance of maintaining control over one’s decisions, despite external skepticism.
In addition, Kiyosaki warns against mistaking busyness for productivity and advocates for proactivity and self-care, as he accentuates the significance of prioritizing oneself and financial goals rather than succumbing to the demands of a hectic routine. According to Kiyosaki, habits significantly influence behavior, and many people prioritize paying bills over paying themselves, leaving little for investment. He then advises developing the habit of paying oneself first, which motivates individuals to seek additional income sources like real estate investments.
Finally, Kiyosaki highlights the danger of arrogance, which stems from a belief that one knows everything necessary for success. As an alternative, he encourages humility and the willingness to learn from others, seeking expertise when needed, especially in financial matters. Kiyosaki writes: “When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject” (144). Thus, by filtering negative influences and fear from one’s life while maintaining a focus on the bigger picture and asking, “What’s in it for me?”, Kiyosaki’s aims to provide a roadmap for individuals striving to overcome these obstacles.
Chapters 6-7 Analysis
Kiyosaki again employs anecdotes as a rhetorical strategy in this section to emphasize the transformative potential of prioritizing learning over immediate financial gains by encouraging readers, especially young readers, to focus on acquiring valuable skills before settling into a specific profession. By sharing his journey from college to the Marines and then to the corporate world, Kiyosaki illustrates the power of continuous learning and adaptability. His own story demonstrates how his willingness to learn and acquire diverse skills, such as leadership and salesmanship, propelled him toward financial success. This aligns thematically with Specialization Versus Diversification.
This section also aligns with The Power of Learning and Mentorship, as Kiyosaki believes that investing in education and skill acquisition will ultimately lead to greater financial rewards. He underscores the idea that financial education is a lifelong process. Kiyosaki’s transition from being an employee to an entrepreneur, for instance, showcases how learning and risk-taking are interconnected. He encourages readers to break free from the Rat Race by focusing on building valuable skills and not solely relying on job security.
Meanwhile, Kiyosaki continues his emphasis on The Necessity of Risk and the power of learning by identifying five major obstacles that hinder individuals on their path to financial independence: fear, cynicism, laziness, bad habits, and arrogance. Fear, in particular, is examined as a significant obstacle as Kiyosaki emphasizes that the fear of losing money often prevents people from taking the necessary risks to build wealth. Kiyosaki’s central rhetorical strategy involves addressing each obstacle individually and providing guidance on how to overcome them. He encourages readers to confront their fears, filter out external cynicism, prioritize self-care over laziness, develop positive financial habits like paying oneself first, and remain humble and open to learning. This aligns with the theme of the necessity of risk, as Kiyosaki believes that embracing risks and learning from financial setbacks are essential components of achieving financial success.
