5 Takeaways from “Rich Dad Poor Dad for Teens”

“Rich Dad Poor Dad for Teens” by Robert Kiyosaki is more of the same Kiyoaski goodness, but this time focused on a younger generation.

Robert Kiyosaki is my favorite author by a long shot, and you don’t have to twist my arm to read more of his books. This book further expands on the lessons Rich Dad taught him during his formative years.

It’s tough for adults to become financially independent because of the mindsets they formed during childhood.

This book aims to help parents and teens form a “rich” mindset early in life so they don’t need to cut through so much scar tissue later.

1) Work to learn, not to earn. Take jobs that will help you build a skill set or mindset. When you work only for money, you’ll always come up short.

2) Money is an illusion; it’s like putting a carrot in front of a horse. The more you earn, the more you spend. The more you spend, the deeper in debt you become. The more debt you acquire, the longer hours you must work. It’s called the rat race.

3) Where does money come from? If you can start to answer this question, you have a chance to become rich.

4) The three types of income are earned, portfolio, and passive. The government taxes earned income from a job at the highest rate. Passive income is taxed the least.

5) Assets put money in your pocket, and liabilities take money away. This simple definition can make you rich in a relatively short time.

I read “Rich Dad Poor Dad” three years ago, which changed my life. I use the simple definitions of assets and liabilities to this day.

Since reading that book, I have amassed much more wealth by acquiring assets. This book attempts to pass along this vital information to teenagers.

I can’t imagine too many teenagers in a position to receive this type of information early, but it’s still a good idea for them to read the book.

As they begin to see others in the rat race and others getting ahead, they can fall back on the information from this book.

Even taking small bits of information from this book will pay massive dividends in the form of compounding. 

They will have years to compound their successes if they can start a small business or invest in dividend-paying stocks in their teens or 20s.

Ultimately, this book is about building a wealthy mindset early on. It won’t come at once, especially if their parents have a “poor” perspective; however, adapting a few pieces of information can change their life’s trajectory. Good Luck!

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