Rich Dad Poor Dad Summary (Animated)

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  • Опубликовано: 3 июн 2017
  • Rich Dad Poor Dad by Robert Kiyosaki Animated Book Summary. Learn about how Robert Kiyosaki was raised by two dads, one was called poor dad and the other was called rich dad who taught him how to get rich.
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    This Rich Dad Poor Dad video was summarized and explained using simple fun animations that will show you visual lessons of what the book teaches!
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Комментарии • 4,9 тыс.

  • @ChronicleLiving
    @ChronicleLiving  5 лет назад +872

    If you really enjoyed this video, I have a feeling you’ll enjoy this one too!
    ➔ ruclips.net/video/g__QIBiJz60/видео.html
    Also! Thank you for letting me know Kiyosaki and Hilo was pronounced wrong in the video. It’s pronounced “KEE-yosaki” and “HEE-low”

    • @thegeneshistorian553
      @thegeneshistorian553 5 лет назад +10

      Great video. I subscribed!

    • @antriggs4190
      @antriggs4190 5 лет назад +5

      The animation was good even if I don’t like the superficiality of the book.

    • @ChronicleLiving
      @ChronicleLiving  5 лет назад +7

      I appreciate your honest opinion!

    • @venzetiquette4790
      @venzetiquette4790 5 лет назад +1

      Chronicle Living great vid mate 👍🏼 kip it up

    • @AnimeFights101
      @AnimeFights101 5 лет назад +2

      key-o-saki not kai-o-saki... but great vid bro

  • @brandonosamba8639
    @brandonosamba8639 5 лет назад +13030

    Money does't buy happanies , but poverty does't buy anything

    • @MKermy
      @MKermy 5 лет назад +330

      brandon osamba you stole that comment also
      money *can* buy you happiness *because* you can buy a -prostitute- pet

    • @codybullington2015
      @codybullington2015 5 лет назад +286

      I think what actually brings happiness is having enough money to the point where it isnt a stressor and you dont have to think about it money doesnt always bring happiness though because money is not what makes life worth living people, your relationships are what make this whole adventure worthwhile and maybe your job as well if you find purpose from it and see it as a way of improving others lives ( which goes back to relationships because it deals with your realationship to your community and the people in it)

    • @brandonosamba8639
      @brandonosamba8639 5 лет назад +62

      @Realistic Man but eventually when you have bought everything you ever wanted you will question weather your friends like you for you or your money and weather you would have a beautiful wife if you did't have that money

    • @brandonosamba8639
      @brandonosamba8639 5 лет назад +23

      @Realistic Man you will feel empty and lonly if you have that mentality

    • @brandonosamba8639
      @brandonosamba8639 5 лет назад +13

      @Realistic Man statistics show that after making 70k a year your happanies Plato's and over 300k a year it goes down.

  • @estBradley
    @estBradley 4 года назад +5910

    Money doesn't buy happiness, it buys the freedom to go find it.

    • @alonzodiablito209
      @alonzodiablito209 4 года назад +117

      Money is happiness

    • @NoobWithEpix
      @NoobWithEpix 4 года назад +43

      Wtf does that have to do with anything of the video

    • @ACT1O1
      @ACT1O1 4 года назад +16

      Had a girl told me she was in love. I drop her out my circle.

    • @candiceruth10
      @candiceruth10 4 года назад +70

      Money may or may not make you happy but it gives you freedom. Ofcourse freedom makes you happy but it's upto you what you do with that freedom.

    • @JYAnJanetHampton
      @JYAnJanetHampton 4 года назад +31

      you can't buy happiness,because you have no money

  • @tessmiles217
    @tessmiles217 3 года назад +874

    I started reading this book because I was so intrigued by how he had two dads

  • @thomaskretzschmar5
    @thomaskretzschmar5 3 года назад +991

    Dont chase being rich, it will only bring unhappiness.
    Chase having enough passive income to be financially independent

    • @4wko186
      @4wko186 3 года назад +19

      i cahse my dog when he runs with ball ahahaa
      - kurt

    • @windwhisprz
      @windwhisprz 3 года назад +26

      To some people that is being rich!

    • @thefuturespast5981
      @thefuturespast5981 3 года назад +10

      That isn't right. It can bring happiness.

    • @JJTheFoodie
      @JJTheFoodie 3 года назад +23

      @@thefuturespast5981 Yeah I hate when people say that enough money can't bring happiness. For alot of people, it can. Lol

    • @demarcus1341
      @demarcus1341 3 года назад +24

      @@JJTheFoodie Money won't always bring happiness, but it will make it a whole lot easier.

  • @artcastro5694
    @artcastro5694 5 лет назад +3476

    You don't get rich if you only watch this video. You must take an action.

    • @thulfwaatu7885
      @thulfwaatu7885 5 лет назад +43

      r/juststart

    • @codybullington2015
      @codybullington2015 5 лет назад +54

      Do some people honestly not know the information presented I mean honestly this is super basic stuff

    • @frontofficesupervisors5792
      @frontofficesupervisors5792 5 лет назад +39

      who told you you will get rich by just watching this video.the purpose of this video is for you to learn.and put into action stupid.

    • @artcastro5694
      @artcastro5694 5 лет назад +21

      @@frontofficesupervisors5792 I said you must take an action. 😀 you will not be a millionaire watching videos 😀.

    • @idealyst8292
      @idealyst8292 5 лет назад +29

      @@frontofficesupervisors5792 Holy shit, that's EXACTLY what he said 😒

  • @rdjm555
    @rdjm555 4 года назад +13540

    If you’re reading this I pray you become successful 🙏🏽💚

    • @Natedog42899
      @Natedog42899 4 года назад +33

      Likewise brother 🔥💪

    • @arifali6762
      @arifali6762 4 года назад +8

      yungrj thx same for you

    • @sabrin9409
      @sabrin9409 4 года назад +10

      Amen 💪🏻

    • @rdjm555
      @rdjm555 4 года назад +5

      nathan perez thanks fam

    • @rdjm555
      @rdjm555 4 года назад +2

      Tritega ❤️🔥

  • @Jutoofficial
    @Jutoofficial 3 года назад +110

    Read this book just now at 15, I’m going to come back in 5-10 years and share my knowledge

  • @hillnotting
    @hillnotting Год назад +121

    Just like Robert said: "There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”

    • @vincentpelletier1246
      @vincentpelletier1246 Год назад +2

      You can only be broke when poor and poor when broke. Its the same. Think for yourself, it helps.

    • @go_out_and_explore
      @go_out_and_explore Год назад +2

      It sounds all fluffy but if you're broke, you're not rich. You're also poor.

    • @thomascampos2426
      @thomascampos2426 10 месяцев назад

      I read this completely by accident: "money doesn't buy happiness, but I've been rich and unhappy, and poor and unhappy. Rich is better". By a guitar method teacher.

    • @BeaverAchiever
      @BeaverAchiever 7 месяцев назад

      So true. Our minds are very powerful. How we feed them - matters a lot.

  • @nayantiwari807
    @nayantiwari807 4 года назад +2005

    After a zoom meeting with a business owner where we had a discussion about this book, this appeared in my feed. Thanks google for listening to everything. Damn the privacy. 😂😂

    • @elexiacozy4413
      @elexiacozy4413 4 года назад +46

      dude ahhahaha same here! xD kinda scared, kinda blessed lol

    • @bahib6280
      @bahib6280 4 года назад +2

      Haha.

    • @gregnixon1296
      @gregnixon1296 4 года назад +70

      My phone started telling me (outloud, from inside my pocket) about the health benefits of blueberries when my son told me that he wanted blueberry pancakes for breakfast.

    • @jwaxmcgeeg9706
      @jwaxmcgeeg9706 4 года назад +27

      this is all to much folks, I want off the grid

    • @stefm.w.3640
      @stefm.w.3640 4 года назад +25

      @@jwaxmcgeeg9706 too late, embrace the matrix 😂

  • @patricecheung4575
    @patricecheung4575 3 года назад +2617

    When I was reading the book for the first time, I was hoping it would teach me how to find a rich dad.

  • @menateshome3185
    @menateshome3185 3 года назад +63

    1. get a financial education before investing anything
    2. risk means not knowing what you are supposed to know
    3. have an asset instead of a liability
    4. if you want to be rich, you will lose money
    5. Money might not necessarily fulfill you as a person, but you need to know how it works
    6. do not ask people who have never done what you want to do for advice they, will kill your dream; ask people whoa re in your business
    7. you need to think and grow rich, not work and grow rich
    8. stop chasing higher paychecks, instead learn how to build and mind your business
    9. pay yourself fist
    10. If someone has a higher salary; the higher the taxes
    11. working hard and earning money is an old idea the, new Idea is acquiring the fastest information and using it
    12. Information is the wealth of this generation.
    13. to be a financially stable one, must know accounting(numbers), investment( money-making money), understanding the market, and the law.
    14. focus is crucial to accomplish the financial status
    15. Do not stop learning
    16. times change
    17. Be openminded
    19. "Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.”
    20. "If you are going to get into debt, make sure it is small. If you take on large debt, make sure someone else pays for the debt"
    21. Assets put money in your pocket. Liabilities take away money from your pocket.
    22. work for free to earn knowledge
    23. give and you will receive.

  • @ScubaCody
    @ScubaCody 3 года назад +25

    When i was 18 my uncle (who is pretty wealthy) gave me this book to read and I learned a lot! Unfortunately I was too caught up in looking rich than being rich and I got into a serious amount of debt; credit cards, car, and a lot of medical bills. never wanted to pay anything. I knew I had to stop, I’m 25 now and only a few month into the Dave Ramsey plan I’m 100% debt free and I have lowered my expenses leaving me with money to save for a house and also invest. wish I started at 18...never too late

    • @lil_woody_420
      @lil_woody_420 3 года назад +1

      What kind of investents do you own? Like stocks? If so which ones?

  • @warrenwest6884
    @warrenwest6884 4 года назад +3276

    Author : ""If you were to stop working ,how long will you survive on your remaining saving?'"
    Coronavirus : well well well... i guess we will find out very soon 😏

  • @RayGmk7
    @RayGmk7 4 года назад +3198

    I’d rather be miserable with money than miserable without money

    • @debiedebsielein3264
      @debiedebsielein3264 4 года назад +248

      I would rather be not miserable at all 😂 With or without money 😅
      Money is not the only wealth out there. They say network is net worth. And heath is wealth too.

    • @masonpobst
      @masonpobst 4 года назад +63

      @@MindlessTube It's apparent you've either never had a large sum of money, or you've never felt true misery, my friend.

    • @fultonguyy
      @fultonguyy 4 года назад +9

      @@debiedebsielein3264 Well Said! A happy Heart is Medicine! Now 66 been homeless not on street though? Been penniless literally? Now Content neither broke nor Rich.

    • @1..0w0..3
      @1..0w0..3 4 года назад +9

      @@MindlessTube You can be EXTREMELY miserable with money if you undergo painful shit in life.
      Ex:
      You are rich enough to get whatever smartphone or electronic device you want, eat whatever you want, you want to have your own career but there is NO NEED to rush cuz your parents are gigantic money vaults.
      BUT your parents go through heart surgeries, accidents, you get hurt? money can't shield you from that.
      You are born in a toxic family, but you're scared that there is no one else to properly look after your parents. If you try to come clean and cut ties with your toxic family cuz they aren't changing their nature any time soon, you would get your share of the family heritage or whatever, so you won't end up broke. But one day when your parents desperately need someone's help to look after them cuz they're old, they won't let u help them cuz they're mad about how u once cut off ties with them. So u don't come clean, u distance yourself from your family cuz u don't want to experience their emotional torture 24/7, but u also want to take responsibility and look after them during their old age, cuz you love them.
      It is more comfortable to cry in a mercedes than on a bicycle. But money can't "rescue" you from any emotional shit fam.

    • @sinocrypto7319
      @sinocrypto7319 4 года назад

      @@debiedebsielein3264 hi

  • @firstinlastout5937
    @firstinlastout5937 3 года назад +191

    fact:
    Poor : are watching the video
    Rich : are making the video

    • @kyeh4551
      @kyeh4551 3 года назад +1

      Excellent comment ;-)

    • @musa.Khurram
      @musa.Khurram 3 года назад +1

      Faxx

    • @yashvanthkumar2700
      @yashvanthkumar2700 3 года назад +8

      I am watching this video, to make a better version of this soon.

    • @Jutoofficial
      @Jutoofficial 3 года назад +8

      The reason the poor are watching is to learn things to make themselves rich

    • @endroholic7161
      @endroholic7161 3 года назад +1

      I'm watching this so i don't have to watch this in my 20's or 30's

  • @ryanskinner105
    @ryanskinner105 3 года назад +158

    The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

    • @braceyourselvesfortruth2492
      @braceyourselvesfortruth2492 3 года назад +11

      The rich do not spend anywhere near the level the poor do.

    • @Nlaw18
      @Nlaw18 3 года назад +4

      The rich don't spend, they invest money that they know will come back again without having to work for it.

    • @workingshlub8861
      @workingshlub8861 3 года назад +8

      exactly...when someone gets a raise or promotion at work what do most people do......finance a newer car or charge more on the credit card etc...not invest it wisely.

    • @4wko186
      @4wko186 3 года назад +1

      i thoughtb infesting was bad mum always got annyred when she sore my penus was infested

    • @berksarioz969
      @berksarioz969 3 года назад +2

      I think a distinction should be made between rich and wealthy. You can have a great income, expensive house, cars, and so on. But if you're not saving and investing, you're not far from being broke. If you are, then you become wealthy.
      If you don't have a good income to start off, generating wealth is a lot more difficult. Let's be real. Is it possible to live below your means? Sure. But let's not forget the importance of investing in your personal development and education to have a decent income to start with.

  • @piolopascual5435
    @piolopascual5435 4 года назад +430

    "if don't find a way to make money while you sleep, you will work until you die"
    -warren buffett

    • @UnleashYourInnerHustle
      @UnleashYourInnerHustle 4 года назад +4

      You are so right on that one. Those are words I have lived by for 8 years now and looking forward to 100 more.

    • @maxp6521
      @maxp6521 4 года назад +7

      But what if you love the work you do and don't do it for the money?

    • @UnleashYourInnerHustle
      @UnleashYourInnerHustle 4 года назад +15

      Then you are a very rare person indeed. Congratulations to you Max Pill.

    • @UnleashYourInnerHustle
      @UnleashYourInnerHustle 4 года назад +5

      but that is just it Guss Ferretti you are missing the quote point. If you find a way to make money while you sleep you no longer have to work for it!! Money is only money it is neither good nor bad. It only becomes good or bad when we decide to make it that way. You choose to be happy or not. It really is all up to you. You can be happy and have money or you can be happy and not have money, but it is still your choice. Have a great day!

    • @yashk246
      @yashk246 3 года назад

      @Celtic Phoenix who stole the money?

  • @s3rverlord
    @s3rverlord 5 лет назад +405

    Thanks for not asking me to buy skillshare at the end of the video.

  • @jaimejimenez4199
    @jaimejimenez4199 3 года назад +7

    I took 24 months off went to live on my own and recovered my health. I feel like a 👑 king

  • @watherby29
    @watherby29 3 года назад +11

    "Learn how to use your emotions to think, not think with your emotions."
    Eckhart Tolle: "Don't think, be"

  • @oestian
    @oestian 4 года назад +983

    A lot of money can be made in selling oversimplified lessons.

    • @natckwan
      @natckwan 4 года назад +146

      how to be rich: make a book called 'rich dad, poor dad' and watch the money flow in

    • @ice-mm6em
      @ice-mm6em 4 года назад +48

      natckwan and then copy and paste the same book and change the title.

    • @blountjuice4932
      @blountjuice4932 4 года назад +3

      Der kleine Kapitalist check me out! I’m a violinist

    • @simplythebest286
      @simplythebest286 4 года назад +4

      hahahahahaha good one !!!!!

    • @rafadydkiemmacha7543
      @rafadydkiemmacha7543 4 года назад +9

      Kiyosaki in a nutshell.

  • @MrRed_2205
    @MrRed_2205 5 лет назад +1072

    Becoming wealthy is basically collecting assets like they are pokémon cards
    Edit: dang a thousand likes thanks everyone!

    • @chrisrose4769
      @chrisrose4769 4 года назад +33

      Fuck yeah big dog gotta get me that shiny Charizard

    • @blackdaan
      @blackdaan 4 года назад +15

      only some cards cost 100k+

    • @chris-andrebrissett5208
      @chris-andrebrissett5208 4 года назад +19

      Game mentality? I like it. Gotta acquire these rares🎮

    • @dewayneabner260
      @dewayneabner260 4 года назад +1

      Factssssss💯💯💯💯💯💯💯💯💯

    • @drjp4212
      @drjp4212 4 года назад +1

      @@rafaelmorita1186 You didnt get the part of "1 dollar per month".

  • @bencastro8671
    @bencastro8671 3 года назад +3

    This was very helpful in understanding how liability and assets actually worked without being in depth, thank you.

  • @theself-careacademy4488
    @theself-careacademy4488 3 года назад +6

    I love this video! I learned a lot, thank you 🙏🏽

  • @BigMike013
    @BigMike013 3 года назад +1378

    Entire video boiled down into a few points:
    1. Asset = something you OWN. Liability = something you OWE
    2. Live on less than you make.
    3. Amount of income is very important, but how you spend that income via assets or liabilities will determine your level of wealth (net worth).
    4. Invest in income generating assets as soon as possible and as often as possible (stocks, bonds, real estate, etc.) to produce more income.

    • @tekiero
      @tekiero 3 года назад +30

      why no one talking about a real estate and property? It was main object in his book

    • @ejrocks10
      @ejrocks10 3 года назад +33

      @@tekiero Many find Real Estate daunting or too difficult. Buying Coca Cola today and having it compound in 20 years is extremely safe and easy to do, and it's better then spending that money on liabilities, which is what Robert is stressing, however that is also being to safe and fearful of loss of money. Basically you will find more people here that get his idea of building the asset column but still unwilling to go big. So they will choose the stock market for example.

    • @m.l.m.malaysiatv2101
      @m.l.m.malaysiatv2101 3 года назад +17

      Keep it simple though. You will become rich if you produce goods that people want like coffee, sandwiches,fried chicken ,taco and so on .

    • @Yukoner77777
      @Yukoner77777 3 года назад +47

      For someone just starting out on the road to becoming rich, you are likely not starting out with assets. At least, not the kind of assets that make you money. So the claim in the video at 5:10 that one HAS Income > Expenses BECAUSE your Assets > Expenses, is not true . . . in the beginning.
      At the start of your journey, the only way to get your Income ahead of your expenses is to LIVE BELOW YOUR MEANS!!! But the easy availability of credit plus the common self-deserving, desirous mentality that one needs to have the shiny new car, the name brand clothes, etc., right NOW, prevent the vast majority of people from getting ahead. They're in debt from the get go. Even if they increase their assets, those never get ahead of their liabilities.
      It's all clear now. Wish I knew this 50 years ago!

    • @m.l.m.malaysiatv2101
      @m.l.m.malaysiatv2101 3 года назад +5

      @Wayne Caissie You don't have to work though.Employ staff to work for you . Delegate the task .

  • @evangelosstromatias4879
    @evangelosstromatias4879 4 года назад +750

    "during a gold rush, sell shovels"

    • @jem-yd6yq
      @jem-yd6yq 4 года назад +34

      You man
      I hope you use that knowledge in your job

    • @familyman2480
      @familyman2480 4 года назад +9

      I like that…

    • @roko-ui1dv
      @roko-ui1dv 4 года назад +98

      ''during coronavirus, sell masks''

    • @SubsWithNoVideos-tn2ue
      @SubsWithNoVideos-tn2ue 4 года назад +40

      during riots, sell guns

    • @_.waryaa4078
      @_.waryaa4078 3 года назад +7

      @@roko-ui1dv ppl actually doing that LOL

  • @stasinossofroniou7430
    @stasinossofroniou7430 2 года назад

    Great video. Thanx!!!!

  • @rentospropertymanagementso4895
    @rentospropertymanagementso4895 3 года назад +1

    This is amazing. Thank you for all the inputs shared. The tips really help.

  • @weareallhuman6371
    @weareallhuman6371 5 лет назад +372

    I live I a third world country and it is a lot harder to do what rich dad has been saying, because we have no real laws or stability for almost everything BUT I HAVE TRIED TO USE RICH DAT POOR DAD AS A STARTING POINT TO MAKE MY OWN WAY. As hard as it has been, I can say that I am not there yet but I woke up this morning knowing that my money has started working for me and if I didn't have any form of work right now, I would survive and be able to pay my bills. Shout out to the internet for connecting us to useful information were I am from.

    • @weareallhuman6371
      @weareallhuman6371 5 лет назад +5

      @@ecomoney4820 I am From African, where are you from?

    • @ecomoney4820
      @ecomoney4820 5 лет назад +1

      @@weareallhuman6371 born in afrcian but live in the Netherlands. But how did you let money work for you?

    • @InspireMedia73
      @InspireMedia73 5 лет назад +4

      We are all Human Being wealthy is what most of us are dreaming, but the a wealth with no effort and perseverance to attain such is the most unfulfilling goal in life.

    • @belikeawolf4627
      @belikeawolf4627 5 лет назад +2

      Eco Money Belgie hier :)

    • @muhammadsaadmansoor7777
      @muhammadsaadmansoor7777 4 года назад +5

      @@jeangardycolin5995 i think you havent seen Iraq, Sham or pakistan

  • @prabhathbandara
    @prabhathbandara 4 года назад +974

    If you are reading this, trust me One day you gonna be rich!

    • @karma1507
      @karma1507 4 года назад +39

      @x zezo That negativity is getting you no where. You need to believe that you can actually do it

    • @991vk
      @991vk 4 года назад +5

      But I dont want to.

    • @zerol3971
      @zerol3971 4 года назад +2

      Prabhath madusanka that's what all humans are good for

    • @titusvarghese1576
      @titusvarghese1576 4 года назад +4

      I strongly doubt that

    • @sanr2512
      @sanr2512 4 года назад +2

      Nonsence!

  • @desmondwallace8462
    @desmondwallace8462 3 года назад

    Well explained!!! Many thanks.

  • @hney421
    @hney421 3 года назад +1

    Nice!
    I love it♥️

  • @pleasegibausername
    @pleasegibausername 4 года назад +1247

    *MITOCHONDRIA IS THE POWERHOUSE OF THE CELL*

  • @easychang4261
    @easychang4261 5 лет назад +100

    Read the book: answer is entrepreneurial spirit, but not everyone is cut out for it...

    • @daquetreed5522
      @daquetreed5522 4 года назад +11

      Easy Chang exactly. Robert says that as soon as you accept a paycheck it changes your brain and it’s true. People are programmed that the only or safest way to make money is by having a job. Once I experienced the freedom of not having to work for someone else and having people work for me I said I’d never go back!!!!!

    • @asiachestnut4210
      @asiachestnut4210 4 года назад

      Easy Chang factsss

    • @kausumichakraborty003
      @kausumichakraborty003 4 года назад +1

      Ya the audio book is of 6 and a half hour which cannot be explained in 10 min

    • @RyoGoesAway
      @RyoGoesAway 4 года назад +1

      @Blu this is true back in my college days i was always chosen as leader on thesis groups but now that i'm working it never felt right to work for somebody it's just my EGO speaking maybe but it never felt right lmao but this is the only path my degree was supposed to be on my boss is good but i just can't wrap it around my head once i read the book my only action plan was to save enough then quit

  • @ruthkipkoech6025
    @ruthkipkoech6025 3 года назад +10

    I absolutely love the summary. You had my attention from the start to the end of the video. Great work

  • @jesusbarragan6982
    @jesusbarragan6982 2 года назад

    Great! thank you.

  • @captigaular
    @captigaular 5 лет назад +176

    To me..the definations of RICH is when you had money and a lots of free time.
    If u had money but busy handling your money 24/7..you are not RICH at all.

    • @hitwalkhook3831
      @hitwalkhook3831 5 лет назад +1

      @Vesta Dynasty Elon Musk like every human on earth has time. He manages his own, like everyone. There is no must, just consequences. Elon Musk has time, he is not only handling his money, he is doing what he likes to do now. Any rich person on earth who has as much money as Elon Musk could get retired by putting into other passive incomes, etc.
      And i mention "Any rich" because a poor man or "slave"(because it is still a thing even today) couldn't afford it.

    • @MrHarumakiSensei
      @MrHarumakiSensei 5 лет назад +18

      @Vesta Dynasty Elon Musk has unlimited free time. He spends it all doing exactly what he wants to do.

    • @InspireMedia73
      @InspireMedia73 5 лет назад

      Runaway Lucifer Being wealthy is what most of us are dreaming, but the a wealth with no effort and perseverance to attain such is the most unfulfilling goal in life.

    • @mrqadaffi3638
      @mrqadaffi3638 4 года назад +3

      I love how poor people have these mental gymnastics to justify living a lazy sack of shit life.

    • @edgarmendoza2204
      @edgarmendoza2204 4 года назад +2

      see thats the problem. you want to become rich, so you can be lazy. every person that became rich on there own is because they love to work. and they don't stop there. they want more and more. they get into this mineset of it's never enough money.

  • @manniesreactionchannel3808
    @manniesreactionchannel3808 4 года назад +540

    If you’re reading this, I hope you obtain knowledge to gain abundance of money this year.

  • @dropnoteorg3292
    @dropnoteorg3292 3 года назад +62

    A brief summary:
    1. The rich acquire assets, the poor acquire liabilities
    > know the difference between an asset and a liability
    > assets produce passive income: businesses that don't require your presence, stocks, bonds, mutual funds, income-generating real estate, royalties
    2. Liabilities bring debt
    > liabilities: mortgages, taxes, loans, the house etc.
    > general population has 2 emotions: fear (earning money to pay bills) and greed (endless desire for joy)
    3. For poor, your profession is your income; for rich, your assets is your income
    > invest and minimize your liabilities
    If you would stop working today, how long can you survive?

    • @amitgamer3669
      @amitgamer3669 3 года назад

      How house in liabilities ?

    • @Sam-zx4rp
      @Sam-zx4rp 3 года назад +1

      @@amitgamer3669 The maintenance cost of the house accounts as a liability, living in your own house doesn't generate you any profit.

    • @amitgamer3669
      @amitgamer3669 3 года назад +1

      Sam ohh thanks

    • @rachitpatel4655
      @rachitpatel4655 3 года назад +2

      @@amitgamer3669 you have to understand, it depends. If someone is renting one of your properties, its an asset, if its your own house, its a liability, but if you can manage to buy many properties, you can make profit.

    • @amitgamer3669
      @amitgamer3669 3 года назад

      Rachit Patel ohk got it thanks 😊

  • @ericleander6048
    @ericleander6048 Год назад +93

    Much like every self-help guru, Robert Kiyosaki made his money building a brand around himself. He makes his money by selling books, seminars, courses, etc. Not by creating any real value and not through investing.

    • @jusjos1970
      @jusjos1970 Год назад +4

      I 75% agree with you. He is reported to have a lot of real estate.

    • @prod7759
      @prod7759 Год назад +2

      If you don't see the value in these books then idk😅

    • @pummyy
      @pummyy Год назад +2

      I agree. Most sheeps won't think. Instead will put money in stock and lose them all while Mr kiyosjaki wud be getting rich

    • @tylerriggs95
      @tylerriggs95 Год назад +4

      Book sucks tbh. Something like “So Good They Can’t Ignore You” is way better for the average person not interested in evading taxes and exploitation.

    • @Shamshiro
      @Shamshiro Год назад +2

      @@pummyy - Not his fault they expect bags worth millions of dollars to suddenly fall onto their laps when they put their money into exchanges. All Kiyosaki gave in his book were signposts/ springboards for n00bs to start building the skills and knowledge necessary for their own ventures.

  • @bladelazoe
    @bladelazoe 4 года назад +51

    Throughout my entire life, Whenever I run into a problem in any subject, or If I'm frustrated with learning something, I've always asked myself "What am I missing here?", "There has to be another way", "What am I doing wrong?". When I have a job, I don't view that job as working for money, I view it as I'm getting experience while working at the job. Some people don't understand that mentality and that's okay. But I always knew there had to be a better way of doing things, the question was what form would it take, and how would I learn it.

    • @goodshepherd3508
      @goodshepherd3508 2 года назад

      I think I can recommend one book ( Financial discipline versus constant cycle of bills and payments ) that resonates with many people.
      The innocent and ignorant people are the ones who lose the game.
      Financially disciplined people win it.
      In that book there are 2 main characters one is John and the other is James, John loses everything and gets into serious trouble after losing his job during the covid19 pandemic and James also loses his job but he is tension free because he had accumulated a lot of money since 4 years from his monthly salary, which makes him financially free.

  • @rizwan1110
    @rizwan1110 4 года назад +167

    Him: "u don't even know what asset and liability is.. huh"
    Me an accounting major: ahmm..

  • @laakamotlogelwa1459
    @laakamotlogelwa1459 3 года назад +6

    I don't have a job or assets but I'm surviving lol

  • @ceedee
    @ceedee 2 года назад

    Excellent video! Thank you 💯🙌🏼🙏🏼

  • @quanmack6332
    @quanmack6332 4 года назад +569

    People always say to invest in assets but nobody gives a realistic usable example of how

    • @RockyRackstor
      @RockyRackstor 4 года назад +55

      Quan Mack huh. You gotta find it out. They don’t reveal secrets. Would you tell everyone if you found a treasure? Well.. i would not!

    • @quanmack6332
      @quanmack6332 4 года назад +323

      @@RockyRackstor it's a faulty mindset to think that helping others hinders your own success

    • @__mianki
      @__mianki 4 года назад +203

      @Quan Mack, Invest in stocks, invest in real estate, invest in yourself. Own a vending machine, own an ATM, own a space that others can rent for advertising such as a bus stop or a big billboard on the side of the road. Start a business.

    • @RockyRackstor
      @RockyRackstor 4 года назад +17

      Mikiwiii nice. Tell him how to find money for it. And where to build those things.

    • @RockyRackstor
      @RockyRackstor 4 года назад +32

      Anupam Prasad that’s not a good idea. Take a loan and buy a property for cheap, but not in a suburban town! Then spend some $$ to build it better. And sell it for a good price. It is not easy as it sounds. Everyone would be doing it if it were easy right? Do the opposite of what 99% people r doin’ . You learn the way to make money by doing it, it is all about an action.

  • @Devillionaire
    @Devillionaire 3 года назад +374

    Kiyosaki's Rich Dad was finally revealed once the Rich Dad passed away - Richard Kimi was his name. He accumulated his wealth in the hotel industry. The Kimi family lived down the street from Kiyosaki in Hawaii.
    True to the story, Kiyosaki was friends with his son “Mike,” whose real name is Alan Kimi. Richard Kimi owned Sand & Seaside Hotels in Hawaii, which Alan took over when he passed away.

    • @revivedsoul1099
      @revivedsoul1099 3 года назад +10

      The names i wanted to find. Ty brother/sister. Very interesting, cool and info based boob. Im at page 25. Where he meats Mike and want to become rich by them asking neighbours tothpase. That partnership worked good in the end haha :)

    • @userone1465
      @userone1465 3 года назад +6

      @@revivedsoul1099 Jesus, you need take a spelling class or something lol

    • @jazy8191
      @jazy8191 3 года назад +24

      @@userone1465 english may not be his first language

    • @goldenstandard187
      @goldenstandard187 2 года назад

      💯

    • @IL_Bgentyl
      @IL_Bgentyl Год назад +25

      @@userone1465 you forget language is just to convey information and communicate. It’s irrelevant how good or bad if you understood his point.

  • @pnprschool
    @pnprschool Год назад

    Love the animation. Beautifully crafted!

  • @xAngy987
    @xAngy987 Год назад

    Thank you for this summary!

  • @gamezbuddy3761
    @gamezbuddy3761 4 года назад +72

    the truth is my school will never teach me this

    • @estBradley
      @estBradley 4 года назад +8

      Be a big boy learn it on your own

    • @whitewaves7788
      @whitewaves7788 4 года назад +2

      That's because schools are run by the same ones that control the money and are responsible for it being devalued/inflated.

    • @1..0w0..3
      @1..0w0..3 4 года назад +1

      U don't got money---> u got no power ---> you are officially someone without an audible "voice" in this world.
      Someone making a political move---> u don't like that move cuz it affects the well being of you, your family, kids, etc, --> you can't stop them cuz they evil ---> you are "mute" to them and everyone else who is powerful.
      They'd just be like, "sorry peasant, can't hear ya over my papers' rustling".
      Now imagine that THEY are the ones who own the schools or other educational institutions. Why would they teach u the way to overpower them? especially when they KNOW that they are wrong and you are a good person. Giving the good people the audible voice is their ultimate fear. Hence they keep your volume down, unless u wanna join their evil side.
      The only exception to their rule is:
      You work smart without their help, it's not just about people getting to the top, you basically even build your own staircase.
      Why so much difficulty? cuz you decided to stick to your morals, that's the price you pay.
      But on the bright side, u get one more reward: "one who wins the game, gets to change the rules".

    • @WilliamHollinger2019
      @WilliamHollinger2019 4 года назад

      @Dr B Siva Kumar reddy every school does this so we be slaves to government.

    • @WilliamHollinger2019
      @WilliamHollinger2019 4 года назад

      @Dr B Siva Kumar reddy they want us make money and they pulled right out of you what do you think working until you are dead when you turn 18 and don't retired at all. i am not scarring you at all i speaking facts what is going on.

  • @jothekingjtk
    @jothekingjtk 4 года назад +74

    "they don't teach this is schools" our teacher showed us this video tho

    • @KassieRancey
      @KassieRancey 4 года назад +25

      yes but it's not part of the "standard program" I have a good teacher too so she suggests so many things but most of my knowledge come from my self education

    • @m.l.m.malaysiatv2101
      @m.l.m.malaysiatv2101 3 года назад +2

      School is to learn basic like reading, writing and mathematics (+ - x÷) . With this 3 skills utilize in your life , you can survive and prosper .

    • @iVince905
      @iVince905 3 года назад

      Is the teacher applying the knowledge he/she learned in his daily life though?

  • @SunShine-jr5qh
    @SunShine-jr5qh Год назад

    The most educating video ive seen. Thank you

  • @timetraveller3063
    @timetraveller3063 3 года назад

    Really really well explained, thank you!

  • @leeyeekoo
    @leeyeekoo 4 года назад +8

    Thanks for sharing. Im so glad that i have parent that teach me these things at my young age. And just a few month ago, I read this book and realize that's what my father always telling me. Buy assets, not liability. I thought that normal people can differentiate it. But nope. My father is a business man, he create his own company from nothing.
    I remember once, I ask my father why do we rent out the houses that we just bought? (Because you know right, renting means i cant stay at there whenever i like) then my father told me about whats the difference between assets and liabilities. My dad is not highly educated, but still tried to explain to me. Thanks to this book that explain further more, so i can link everything together and make sense.
    Not a hard book to read, definitely suggest you to read especially people like me that didnt have great knowledge in economy and kind of stuff...Thanks

  • @triplex2912
    @triplex2912 5 лет назад +17

    Nine minutes well invested .
    Thank you.
    Best Regards from England.

  • @reshmasubramony7161
    @reshmasubramony7161 3 года назад

    Love your channel bro appreciate thank you

  • @drewmiller6409
    @drewmiller6409 3 года назад +1

    I love this so much, Thank you so much! 💛

  • @hadimontanablog8879
    @hadimontanablog8879 3 года назад +40

    This video teach me so much ,I am starting with my own business next week and I am 17 ,wish me luck

    • @ChronicleLiving
      @ChronicleLiving  3 года назад +2

      That’s awesome!

    • @hayelomabraham9948
      @hayelomabraham9948 3 года назад +2

      Hows everything going you mind if we could talk on insta? @sauceyballer

    • @kakasshi3781
      @kakasshi3781 3 года назад

      So hows the business going ?

    • @hadimontanablog8879
      @hadimontanablog8879 3 года назад

      @@kakasshi3781 not that good but I am making shit load of money on crypto and about to make a comeback in e-commerce

    • @burgerburger3626
      @burgerburger3626 2 года назад +2

      let me guess your "business" is dropshipping 😐

  • @YS-wo1fm
    @YS-wo1fm 4 года назад +59

    I hope you all reading this live long, Luxurious lives don't ever god damn give up.

  • @relaxationclub3848
    @relaxationclub3848 3 года назад

    Great video thanks🤝🏻

  • @nogodfortomorrow
    @nogodfortomorrow Год назад

    Great toner, great doodles
    Thanks for this!
    👍🏼✌🏼👏🏻👏🏻👏🏻

  • @theadventuresofeli123
    @theadventuresofeli123 4 года назад +71

    When I was younger, I save patiently for the things I want and I feel tremendously happy when I finally get it. Today, I have a job got savings in my bank and I could buy anything I want anytime, anywhere but I’ve never felt that tremendous excitement again as it was before, and I miss that feeling. :(

    • @kunal_k_
      @kunal_k_ 4 года назад +6

      @jjj mle exactly! Buying and feeling happy is empty and kinda in vain
      Investing in self and inner world growth catapults life beyond system of belief & beyond imagination 🌟

    • @mamakat7176
      @mamakat7176 4 года назад +8

      Try helping others do what you did and when they achieve that tremendous feeling of happiness you will feel it again too! And this is something you can do over and over again and with multiple people at the same time and teach those people to do the same thing and you will never lose that feeling of tremendous satisfaction and happiness ever again it will only keep growing!

    • @kunal_k_
      @kunal_k_ 4 года назад +1

      @@mamakat7176 true is that 💯
      N Why's that so.. Cuz life on a karmic balance is universal, is a boomerang.. It comes back and once the loop is formed, it catches that momentum.
      Nothing is worst than a person losing enthusiasm in things to do.. Small things big things alike - the key to happiness doesn't lie in what one likes to do but in liking anything that one does!
      Trust the Process
      Promote what you Love
      Patience is the key 🗝

    • @everywhere3000
      @everywhere3000 4 года назад

      Get married and have a child

    • @kunal_k_
      @kunal_k_ 4 года назад +3

      @@everywhere3000 Disaster recipe for the immature mind in marriage/relationships - look around at separation rate.
      Investing in self, understanding thyself first is 'numero Uno' to exactly know what one wants, is capable of 'giving' & thereby 'receiving'.

  • @gregnixon1296
    @gregnixon1296 4 года назад +9

    I have read the book and listened to the author's interviews. Something just doesn't sit well with me in his tone, but he has been very, very financially successful.

  • @k.whittington8544
    @k.whittington8544 2 года назад

    Thanks for the explanation!

  • @danakiro
    @danakiro 3 года назад +1

    Finally someone who gives a easy and direct explanation , Thank you so much.

  • @pianoroses2276
    @pianoroses2276 7 лет назад +261

    Seriously, astonishing job! I never seen an animated summary like this!

    • @ChronicleLiving
      @ChronicleLiving  7 лет назад +7

      +Piano Roses Thank you so much! It really means a lot!

    • @InspireMedia73
      @InspireMedia73 5 лет назад +1

      Piano Roses Being wealthy is what most of us are dreaming, but the a wealth with no effort and perseverance to attain such is the most unfulfilling goal in life.

  • @muhammadnadzmiabukassim6551
    @muhammadnadzmiabukassim6551 4 года назад +240

    How to have happy life with your money?
    Me :use money to help others people

    • @michellezuze5505
      @michellezuze5505 4 года назад +1

      Muhammad Nadzmi Abu Kassim 👏🏾👏🏾👏🏾

    • @ievam6879
      @ievam6879 4 года назад +6

      No

    • @koolankush6300
      @koolankush6300 4 года назад +4

      @NPC69 it's like helping people setup their own small businesses and you also make some percentage in that.

    • @igudy
      @igudy 4 года назад +1

      True
      Givers never lack

    • @whoeverwhoever400
      @whoeverwhoever400 4 года назад +3

      "Me :use money to help others people"
      what he meant was "Me: socialism"

  • @CheHojas
    @CheHojas 3 года назад

    amazing video!!!!! thanks for sharing

  • @ahss6275
    @ahss6275 3 года назад

    Excellent summary of a good book. Well done mate.

  • @xXxBo5sANaCxXx
    @xXxBo5sANaCxXx 4 года назад +4

    This book completely transformed my mindset!!! You have to read it its for your OWN GOOD...

  • @tshidisojosh1771
    @tshidisojosh1771 5 лет назад +1397

    This is the second time I watch this video. The first time I was an employee about to get retrenched, with my last salary I asked myself the same question, "how long can I last with this? It was roughly $300 a month and I was the breadwinner at home. Now that I'm watching it for the second time, I have a series of apartments, I provide accommodation for for college students and I'm making money while sleeping, and I'm also into stock trading. Thank you and I hope this video can reach every individual in the world...

    • @sankara6823
      @sankara6823 5 лет назад +48

      So how did you get a series of apartments in 3yrs?

    • @tshidisojosh1771
      @tshidisojosh1771 5 лет назад +41

      @@sankara6823 made money by trading forex

    • @sankara6823
      @sankara6823 5 лет назад +12

      That quick? If this is real am ready to learn.. want to share some knowledge?

    • @tshidisojosh1771
      @tshidisojosh1771 5 лет назад +46

      @@sankara6823 I've been learning forex for years, just that I was stuck in my job and didn't have time to trade, must say I didn't achieve all of this alone, I'm in property business with two of my friends who are also forex and bitcoin traders

    • @AJsVIEW
      @AJsVIEW 5 лет назад +12

      @@tshidisojosh1771 Thank you for those inspiring words. I'm also in a job that just pays my bills. May I know if Forex Trading is the same as Trading in Stock Exchanges? Sorry if the question is stupid, but I really know no more than my job.

  • @rkla887
    @rkla887 2 года назад

    4 years later and RUclips finally recommends an actual useful video to watch. Great video 👍. I hate RUclips algorithm.

  • @chikezieonwuchekwa12
    @chikezieonwuchekwa12 2 года назад +1

    Truly blessed by this video. I will apply it from now onwards.

  • @ragnathebloodedge3688
    @ragnathebloodedge3688 4 года назад +29

    In the end it all comes to financial education, action taking, managing risk and spending less than you earn will make you rich, it all comes down to your lifestyle and mindset

  • @moneymatters7377
    @moneymatters7377 5 лет назад +6

    One of the all time greatest personal finance books.

  • @hustleforwealth8587
    @hustleforwealth8587 3 года назад

    Great video, added to our website :-)

  • @pamperingwpurpose
    @pamperingwpurpose 9 месяцев назад

    Thank You🌟

  • @faisalabdikadir3406
    @faisalabdikadir3406 4 года назад +4

    I had just started reading that book, am bored till i come across this video makes it easy to understand and feeling energized, thanks..

  • @thomasdamas4347
    @thomasdamas4347 5 лет назад +11

    Thanks for opening my eyes

  • @aakashraja8408
    @aakashraja8408 3 года назад

    Superb bro!!!
    Thank u So much!!!!!!!

  • @sathishkumarsaravanan1721
    @sathishkumarsaravanan1721 3 года назад

    Thanks for giving me a wonderful message, about financial education.

  • @vicariouslyyours3952
    @vicariouslyyours3952 4 года назад +3

    Loved seeing Mr. Bigfoot’s cameo at the end! Nice touch and excellent summary of “Rich Dad Poor Dad”.

  • @prosperkandafula7547
    @prosperkandafula7547 5 лет назад +12

    Love your closing point.... To the poor, their profession is their income... To the rich, their asserts is their income 🙌💓💓💓

  • @camillehouston3710
    @camillehouston3710 Год назад

    Love your videos you are awesome keep up the good work proud of you for starting a RUclips channel it’s hard work and takes time

  • @oyuncubirlii
    @oyuncubirlii 3 года назад

    Wow such a quality content Man awsome job

  • @reinerdxb
    @reinerdxb 4 года назад +3

    Thank you Chronicle Living for making this inspiring video. Perfectly explained with great animations. I never got down to reading the legendary world renown book.
    TY Once again!

  • @arigilos8552
    @arigilos8552 5 лет назад +8

    I liked this video a lot. The presentation made it really easy to understand. Videos like these should be shown in school.

  • @peymany.a5071
    @peymany.a5071 Год назад

    Thanks for making this

  • @seadolf
    @seadolf Месяц назад

    Thank you Big ups

  • @ethioramble
    @ethioramble 4 года назад +7

    Money can't buy happiness
    But, poverty buys sadness.

  • @samarasylvester5305
    @samarasylvester5305 5 лет назад +8

    Bro this is an amazing video keep up the good work👍

  • @evolved_edit
    @evolved_edit 2 года назад

    this video is more than great and more than perfect

  • @michaelpeters9537
    @michaelpeters9537 3 года назад

    This is fantastic!!!

  • @hermitinvestor
    @hermitinvestor 4 года назад +2

    Best video I have seen on "Rich Dad Poor Dad"..Brilliant

  • @rvkvikas
    @rvkvikas 5 лет назад +4

    Thank you

  • @mariegustafsson3095
    @mariegustafsson3095 3 года назад

    Thank you for The easy to way to undrestanding. 😊 👍

  • @kylejohnson838
    @kylejohnson838 3 года назад

    A very good sumary, I thought. I listened to the audiobook, and you hit it head on!

  • @taaseenkalam2668
    @taaseenkalam2668 3 года назад +159

    I’m reading this book atm I’ll come back in 5-10 years and tell you how my life went💯. 3rd week update: I’ve now started to gain knowledge on shopify and facebook marketing and have sold off a few jackets and caps and made good profit off that.

    • @oussamaelkhdadi1073
      @oussamaelkhdadi1073 3 года назад +10

      here for the update

    • @acz88
      @acz88 3 года назад +59

      I first read this book around 5-6 years ago. I put what I learned into action right away. I went from broke and in debt to over a million in assets today. I am around 1-2 years away from quitting my job because I won’t need it anymore. I wish you best of luck on your journey.

    • @jevinharris9479
      @jevinharris9479 3 года назад +2

      alright deal i'm doing the same

    • @francistech7757
      @francistech7757 3 года назад +2

      aight, goodluck man

    • @sinderrr6854
      @sinderrr6854 3 года назад +2

      @@oussamaelkhdadi1073 me toi

  • @i_am_the_purpose6192
    @i_am_the_purpose6192 5 лет назад +4

    Thank you so much.

  • @FBrapidreview
    @FBrapidreview 3 года назад +41

    I read the book and found some fundamentals explained to improve finances. It is especially a good read for those who have little or no knowledge of finance and accounting. Overall a good read, thanks for the video

    • @ChronicleLiving
      @ChronicleLiving  3 года назад +2

      Thanks for sharing!

    • @AslanBJ7
      @AslanBJ7 Год назад

      let's be friends with this @Wahyy_9T

    • @anonymous_user_17
      @anonymous_user_17 Год назад

      Our education system has failed us miserably. Andrew Tate speaks about this. They don't teach us about finance nor about the taxes and the rights we have to avoid paying taxes. They, instead, teach us irrelevant things like photons and other useless crap.