CHAPTER 1: "At the age of 9, I decided to listen to and learn Kiyosaki reflects that most children learn about

en learn about money at home,

from my rich dad about money. In doing so, I chose not to listen to my and yes I believe so because at home, when I was little, it is where my

poor dad, even though he was the one with all the college degrees." parents taught me how to count numbers basically from 1-20 and so

-kiyosaki on. It is also where I first learned how to use my money to buy snacks

at tyangge near our house and then at school.

Kiyosaki begins his story of how he was raised by two different

dads one rich, one poor. The poor father was highly educated with a But my dad, unlike kiyosakis rich father never told me to take

Ph.D., while his rich dad didn't even make it through high school. He risk with money instead to manage money by buying only the things I

reflects how as a child he had to choose whether to learn from his poor need, and then later on buy things I want when I graduate. My dad is a

father or his rich father. At the age of 9, he decided he would follow in degree holder, a police man and a law graduate. Hes also a business

his rich father's footsteps and ignore the lessons of his poor father. minded person, he invest profits aside from his salary like engaging

such activities as bidding and owning a fish farm, but he always teach
This chapter talks about what the rich teach their kids about
us the importance of education. He tells us that having a degree; a
money and what the poor do not. It shows how a rich one and a poor
good job will make us rich and making a profit out of a salary will make
one make decisions. In terms of decision making and principles, the
you richer.
rich one is always contrary to the poor one. The rich one takes risk to

gain more out of its money, and the poor one stays on his track,

receiving his salary and do nothing about it.

CHAPTER 2: The poor and the middle class work for money. The rich Kiyosaki created a comic book library, he was not there, he hired

have money work for them. someone to work in his library but he earned more than when he is a

surprettes.
Kayosaki worked for Mike's dad as a one of the superettes but

eventually get bored and complained for not treated fairly nevertheless An example I can relate is the famous Henry Sy, billionaire,

he knows Mike's dad, the rich dad just taught him a lesson. A lesson owner of SM Malls in the Philippines. Giving lots of job opportunities to

which mirrors real life. The authors Rich Dad believed the best reason others made him a multi-billionaire. The more he gives job to others,

to get a job was to learn something, not for the paycheck. the more he let many people work for him, the more he gain profit out

of his employees' effort, the more he becomes the riches. He's an

I read this chapter about two times until I slowly understand
owner, he doesn't pay taxes out of profit while his employees do.
what the rich dad was trying to say. It is to get a job to learn how in the
Knowing the higher salary you get, the higher tax the BIR! That makes
real life money works. Kiyosaki worked for Mike's dad without pay ,
the difference between the rich and the poor.
when you look deeper into it, you'll see that Kiyosaki might not gain

money from it but will gain new knowledge and experience. When you In the end, the logic of the story is clear to me. The one who

work for others, what you get in return is only the amount equivalent of work for other is poor because in reality they gain nothing. The money

what you worked for example, salary or sometimes, your wages does they receive on as salary is not a gain because they it is only an

not equal to the effort you put in your work. That is why the author amount equivalent for their labor. If they don't work, they don't get paid.

emphasizes, the poor and the middle class work for money. When
The one who let others work for them is rich because they do not exert

effort. They get profit out of their someone's effort.

CHAPTER 3: If you want to be rich, you need to be financially hand car. It does not last long, plus it requires more money for its

literate. maintenance for it to continue working. Well, the third example was

based on my own experience at home. We used to had second hand

The rich buy assets. The poor only have expenses.
cars because my dad believed it was cheaper, and he can save more
The middle class buy liabilities they think are assets.
by acquiring a second hand car. Even me as a student, I often buy

I remember one of my teacher in basic finance discuss these expenses which should not be tolerated. In our generation, we hunger

three. First, the rich buys assets. These are assets which generates for fame through acquiring new gadgets and of course it's the new

profit. Like for an instance, a land. A land is an asset which generates trend!

profit when you plant a tree, harvest its fruits and sell it, you make a
I conclude that if you want to be rich, you must need to be
profit out of it -- or even if you don't plant on it, land does not
fiancially literate because no one gets richer without being wiser. I
depreciate over time. Its value increases over period of time. It's an
appreciate this chapter, because many people may not seem to see
asset wherein you can invest. Second, middle class buys liabilities they
this in real life and I hope one day people will!
think are assets. An example is when you buy a house at Camella

homes. A house at Camella homes is a liability wherein you pay

instalments for 30 years. It's a debt. It is like you're giving out a great

percentage from your salary in paying debt. It does not generate profit.

Third, poor buys expenses. An example is when you buy a second

 you buy stock of a company, and gains a profit based on the

percentage you invested in the stock market.

CHAPTER 5: "When I say mind your own business, I mean to build

and keep your asset column strong. Once a dollar goes into it, never The strategy in the stock market is that to still buy stocks

let it come out." wherever the price of stock is high or low. In the philippines, only

about 20% of the Filipinos are educated about stock market and (not
Mike's dad reveals the third secret of the rich: "Mind your own
accurate) 2 out of 10 are interested to join. The reasons why we
business." He goes on to describe the difference between a profession
Filipinos are not much involved in such activities is that we have no
and a business. Your business is what earns you income independent
self-confidence about ourselves and are afraid to take risk. It is true
of your labour. Kiyosaki laments the fact that we live in a society where
that one of the reasons also is that we never learned so much about
one becomes their profession (e.g. a mechanic or professor) only to
investing because it is not taught in school. This is the sad truth why
work for someone else's business without nurturing your own.
those rich people gets richer and we poor people, gets poorer.
Kiyosaki lists a number of assets that can help your "business"
Kiyosaki stresses the importance of choosing assets that you
grow: businesses that you own, but do not work at; stocks, bonds,
love. For me, I think my personal passion is investing. Well, It's the
mutual funds, real estate, notes (IOUs), and royalties.
least thing I think I can do with my weekly allowance. My grandma Mila
I am actually not familiar with the business stated above except
created me a personal account in the bank when I was 8. It is where all
for the stocks. As far as i remember, stocks in stock market is where
my cash gifts during birthdays, Christmas, graduation etc. is kept.
When I entered college, I do things on my own. I invest now with

savings wherein all you have to do is to deposit money and earn an

interest from it after how many years.

Though it's a long term investment, I know it's worth it. Kiyosaki

says you can keep your day job, but you must also spend time

minding your own business (i.e. investing in assets) and I think we our

minds collides --" to mind your own business". He also cautions

against buying luxuries before you are rich. This is what poor people

do, and must avoid it. He suggests that you wait until your assets have

yielded enough money to buy that Mercedes or new boat you've been

eyeing.
 wherein the corporation itself will pay its taxes, liabilities and so on and

not the owner. So when you own a business, you are exempted from
CHAPTER 5: Taxes are not only for the poor, but it is for everybody's
paying because your people / employers are paying for you.
benefits. As they say, "Your taxes are working for you."

I agree with Kiyosaki when he said that the best way to earn
In the Philippines, the government pushes the 12% values
more is to own a business. I knew people who started small and earn
added taxes (VAT) that are mostly on everything but on the bright side,
so much right now, even from an early age. As long as you know how
these taxes are used to build infrastructures such as national roads,
to liquidate your earnings, and how to invest on the right things, you
big buildings etc. which benefits most of us, but Person with Disabilities
can be rich. Not only that, but you must also have discipline in handling
(PWD) and Senior Citizens are excused because of discounts. There
money and full determination to keep your head in the game. Knowing
are also hidden taxes that ordinary people don't know. Buying clothes,
people how businesses and works as a corporation and those who
ordering food, riding public transportations that are under corporations,
work solo, I think it's better to have your own business, for the reason
for example, the Yellow Bus Line Inc., all of these already have taxes.
of having your own free will to do whatever you want, as long as you
However, Kiyosaki was right when he points out that those who are
know how to pay your taxes right.
rich are mostly affected by means of paying higher taxes. The more

you earn the more taxes you pay.

On the other hand, business owners have many ways to avoid

paying taxes. Corporation is a business and it has a separate entity,

CHAPTER 6: "There is always risk, so learn to manage risk instead of Why not take risk instead of avoiding it? Let's develop financial

avoid it." intelligence to progress by changing our mind set.

Kiyosaki restates the importance of developing financial "Money is not real." This is a major secret to becoming rich

intelligence. He equates financial intelligence with "having more accepting that money is not real. The greatest asset is your mind. In

options." Rather than waiting for the "right" opportunity to come along the age of the internet, investment banking, and stock-trading, people

(i.e. job offer, promotion, etc.), you can create your own. Considering make millions every day simply by having an idea a patent, a trade, a

more options and grabbing many opportunities, not waiting, is strategic financial move. You have to accept that sometimes your risks

undoubtedly better than staying in only one source of income. will lead to big gains and some will lead to big losses. He claims that

Considering more options means to work, work, and work. Find work, winners are not afraid of losing. The secret is to learn to manage risk

work, and work. The old saying, two heads is better than one can be instead of hide from it.

rephrase by two sources of income is better than one. Let's take risk.
My professor in one financial subject, told me that if you don't
Simple. Instead of waiting for the "right" opportunity like promotions, it
take risk, you don't gain big losses, nor have big gains. Kiyosaki also
is way better if we consider more options such as investing in the bank,
emphasizes this which I think is true and effective. For me, taking risk
stock market, etc. A combination of different job at a time is indeed
in financial decision making is hard especially if you lack knowledge on
risky 'cause one might be successful and one may fail or maybe both
how to manage money that is why we are following the old traditional
will fail. How about thinking, both may be successful? Why not?
way- to save and saving is not efficient for me because in saving
alone, does not increases income. Investing, though it is mentioned a

hundred times is a great deal to get rich, richer, or maybe richest.

There are two types of investors those who buy packaged

investments and "play it safe" and those who create investments and

compile their own deals. The second type of investor is the one that is

more likely to become rich. You got to have to choose which type you

want to be but In order to become the second "more professional" type

of investor, you must cultivate three skills.

You must be able to find opportunities that others have

neglected. It is less competition. You must also learn how to raise

money. Sometimes this will involve a degree of creativity. Most aspiring

investors think to go to the bank first Kiyosaki explains that you might

have to consider other capital-raising alternatives to the bank.

Lastly, you must learn how to organize smart people and

choose your advisers wisely.

CHAPTER 7: "The world is filled with smart, talented, educated and favourite piece and was paid a professional fee. I was very happy!

gift people I am constantly shocked at how little talented people Another opportunity came and i was hired again to be part of a band.

earn." Also, tried to teach little kids the basics for 100 pesos session. Though

I do not earn big in doing such, I believe I earned many experiences

Kiyosaki tells a story of how he once met a young journalist in
and that, I consider as my asset. As a student, I play piano or violin in
Singapore for an interview. She confides in him that she has always
mass, wedding, birthdays, funerals, anywhere possible considering my
wanted to be a fiction writer and not a journalist, but that her novels
weekly allowance is enough for me but having an extra income aside
never seem to have much success. Kiyosaki compliments her writing
from it is something! Not to brag myself, but I think this is what the
style and suggests that she go to school to learn how to sell. She is
author is trying to point out all the time-to develop financial intelligence,
offended by the suggestion and declares that she's not a salesperson,
to take advantage of your asset. In simple words, it is to know how to
but a writer.
use money progressively.
To elaborate my point of view, I myself is a musician. We own a
Kiyosaki notes how many talented people he's met that don't
music school. I trained myself to play instruments. When I was 6 and it
seem to earn money. Yes, because people do not realize that the main
was when my grandmother died, it was my first exposure in public. I
goal is to seek work based on what they will learn, not how much
played a piece as a contribute to my grandmother. My grandfather,
money they will make. He stresses the importance of assembling a
who's a fan of me, sent me to Visayas for free to train harder. Because
usable skill set. He suggests that adults pick up a second job where
of too much exposure, I was hired for the very first time to play my
they will acquire new skills to enhance their education and evolve as a

businessperson.

The most important areas to focus on in terms of building

specialized skills is sales and marketing. Sales and marketing are

difficult subjects to master because they involve fear of rejection or

failure.

Kiyosaki reflects further on being raised by two dads. He sees in

himself a bit of both of his fathers he embraces the tenets of

capitalism and loves making money just like his rich dad, but also feels

a degree of social responsibility for those who are underprivileged,

reflecting his poor dads values.

 believes that doubt holds many people back from moving forward in

life.
CHAPTER 8: "I like Texas and Texans When Texans win, they win

big. And when they lose, it's spectacular." He goes on to say that the list of items people "don't want" to do

often hold them back from great opportunities (e.g. "I don't want to lose
This chapter focuses on overcoming obstacles. Kiyosaki
money by investing in the stock market" or "I don't want to buy real
believes there are five main reasons why financially intelligent people
estate because I don't want to fix toilets"). Kiyosaki's rich dad declared
may still not succeed in building assets: fear, cynicism, laziness, bad
that "I don't want" actually "hold the key to your success."
habits, and arrogance. He delves into each of these obstacles in detail.

He then examines laziness. He cites greed as the cure for

First, he examines fear, primarily the fear of losing money. He
laziness. He reflects on how his rich dad never said "I can't afford it,"
states that he has never met a rich person who didn't lose money. He
but instead asked, "how can I afford it?" Meanwhile, his poor father
acknowledges that fear is understandable when it comes to taking
continually remarked that he could not afford things. Kiyosaki instead
financial risks. The best antidote to fear, however, is to start early and
urges readers to ask themselves constantly, "What's in it for me?"
plan. He remembers that his rich father used to tell him how much he

loved Texas and Texans because when they "win, they win big And

when they lose, it's spectacular." He counselled them to be inspired by

their failures, rather than be devastated by them. Kiyosaki explores the

second impasse to freeing yourself from the rat race: cynicism. He

 He then looks at bad habits. His rich dad always told him that he Kiyosaki then examines the last obstacle to financial success:

should pay himself first, rather than paying taxes or bills. He notes that arrogance. He explains that many try and use arrogance to hide

Kiyosaki's poor dad always paid his bills first and himself last. His rich ignorance. He notes that there are many people in the finance and

dad explained that by paying himself first and his debts after, he is investment world who know very little about money. He stresses the

forced to find creative ways to make additional income to pay his bills. importance of educating oneself rather than simply projecting an

He is motivated by the pressure to pay his creditors, but not at the attitude of arrogance and mastery.

expense of himself.

I relate myself with Kiyosaki's poor dad because in real life, we

adapt the idea of paying the bills first before ourselves. It's an old

tradition and we can't change. Of course, I can't just spend my tuition

fee for myself first and then worry about it after. For me, it's not a good

idea. If Kiyosaki's rich thinks that way, let him. Let him be the richest. I

don't care. HAHAHA it's not easy to take risk to spend your money with

yourself first before the bills.

 CHAPTER 9: Chapter Nine focuses on how to get started life because I value education more than anything because being a

acquiring assets and honing your financial genius. Kiyosaki focuses on degree holder is something! and for me, I give respect more to people

ten steps to develop your inner financial genius. who is poor but has degree title with them than people who is just rich

by means of his money. Well in the end, our level of contentment will
Among all, I chose only one to react on. "I choose daily." Choose daily
answer our questions where to follow: the rich dad, or the poor dad. Its
and believe in the power of choice. He explains that with every dollar
up to you.
that we earn, we have the choice of where to use it and whether we

want to be rich, poor, or middle class.

I appreciate the authors perspective and I respect him. He

mentioned the word choice and I believe each individual has the right

to choose on what he wants to become. Kiyosaki contrast the rich

ways, and the poor ways and I do not support all of his rich dads ways.

I am still in the old way, the traditional way. Most people choose not to

be rich and Im one of them or maybe I choose to be rich but not the
(3.4.17/12:44am/Deane Krystel Q. Lacuesta)
richest. If I were kiyosaki, I would still follow my poor dads concepts in