Rich Dad Poor Dad’s author, Robert Kiyosaki says that 5 important lessons that your school doesn't teach you to become financially strong.
5 Lessons of Rich Dad Poor Dad: Robert Kiyosaki, the author of world famous book ‘Rich Dad Poor Dad, has devoted many decades educating the people about financial literacy, entrepreneurship, and the required mindset that is inevitable for success.
| Post Name | Robert Kiyosaki's 5 Lessons that School don't Teach You |
| Category | Finance |
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Kiyosaki often emphasizes that traditional schooling does not prepare you for the real financial and personal growth challenges. For this purpose, we are going to know 5 important lessons that schools don't teach you.
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| Robert Kiyosaki: 5 Lessons That Schools Don’t Teach You |
You can apply these five lessons in your life and make yourself financially strong.
1. Financial Education Is More Important Than Academic Education
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What Schools Teach |
What Schools Don’t Teach |
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Memorizing theories |
How to manage money |
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Getting good grades |
How to invest and build wealth |
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Following rules |
Financial independence |
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Job security |
Taking calculated risks |
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Time management (limited focus) |
Entrepreneurship and business skills |
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Standardized test preparation |
Emotional intelligence & resilience |
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Memorizing information for exams |
Negotiation skills and networking |
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Theory-based subjects |
How to create multiple income streams |
Kiyosaki says that schools concentrate more on academic achievements compared to teaching financial literacy. Even after graduating, many students don't understand the concept of debt taxes, debit, credit, investments, assets, liabilities, mortgages, etc that leads them to financial distress in life.
Example:
In school, a student can score high grades and secure a well salaried job but still faces financial problems. This is outrightly due to lack of investment knowledge and poor money management.
On the other hand if anyone is learning the skills related to money then he or she knows the niceties and intricacies of the financial world. He can use his mettle and create a fortune that can make them financially independent.
Key takeaways: So, it is indispensable to learn about financial management, investing, trading, wealth building concepts that schools don't teach you.
2. What is the Difference Between Assets and Liabilities
According to Kiyosaki, most of the people confuse and misunderstand the assets and liabilities. Schools don't teach how to generate wealth through assets.
Assets vs. Liabilities: Full Comparison
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Assets (Make You Money) |
Liabilities (Take Your Money) |
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Rental properties (income-generating) |
Mortgage on a primary residence (non-earning) |
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Stocks, bonds, and precious metals |
Car loans (depreciating asset) |
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Businesses and startups (cash flow) |
Personal loans (interest payments) |
Example: Suppose, a person earning ₹100000 per month but spending it all on EMIs, car loan, and other expensive vacations is financially weaker than a person earning ₹50000 but investing ₹20000 in assets that will eventually help to generate income.
Key Takeaway: You should completely focus on acquiring assets that put money in your pocket rather than liabilities that drain your finances.
3. Entrepreneurship Is a Path to Achieve Financial Freedom
Most of the schools through academics prepare students for jobs, not for running businesses. Robert Kiyosaki outrightly advocates entrepreneurship as a route to achieve financial freedom and wealth creation.
Example: Two engineers graduate from the same college or university. One gets a high salaried job, while the other one starts his own tech venture (startup).
After some time, the entrepreneur, despite his financial struggles, establishes a company that is worth millions. While, on the other hand, the first one who was an employee remains dependent totally on his salary.
Key Takeaway: You can consider entrepreneurship as a career path. If you have a job then silently work on your plan. Start a side business and build financial independence.
Always remember, if you mind your boss’ business then you are helping him to create his wealth.
But, if you mind your own business then you are going to create the fortune that will lead you towards financial freedom.
"If you follow the crowd, you will go no further than the crowd. But if you walk alone and find your own way, you will likely find yourself in places no one has ever been before." — Albert Einstein
4. Learn from Failures
Since our childhood we have been hearing ‘do not make mistakes.’ No one is perfect in his life. He learns from his mistakes and that is the most crucial thing.
In our traditional education, students are generally punished over their mistakes. Whereas real life learning and gaining experiences rewards to elevate his life. Robert Kiyosaki believes that mistakes are the medium through which we learn and improve.
"Winners are not afraid of losing. But losers are. Failure is part of the process of success." – Robert Kiyosaki
Do you know, world renowned scientist, Thomas Edison failed 1000 times before inventing the light bulb. Each mistake and failure brought him closer to success. In contrast, schools teach students to avoid failure or mistakes rather than learning from them and move forward stronger.
Key Takeaway: Instead of fearing failure and always avoiding facing mistakes, you must analyze mistakes, learn from them, and move forward.
5. The Power of Networking and Mentorship
Usually schools emphasize an individual's achievement but ignore the importance of networking and mentorship. Success is not only about what you know but also whom you know.
Example: Most of the successful entrepreneurs, like Bill Gates, Elon Musk, had mentors who guided them. Kiyosaki himself had his mentor ‘Rich Dad’ who shaped his financial thinking.
Key Takeaway: Always have relationships with the successful people in his field. If you want to grow faster then learn from them, and surround yourself with those people who inspire the growth.
Rober Kiyosaki: Conclusion
Robert Kiyosaki’s 5 lessons are going to help you in focussing on financial independence, entrepreneurship, and real world intelligence. In traditional education, schools prepare students for jobs to make their employer rich. But, if you apply these 5 lessons then you can become financially independent.
Schools don’t teach you how to manage money, build wealth, or take risks. By educating yourself about financial terms and applying these concepts, anyone can achieve financial success.
5 Lessons of Rich Dad Poor Dad: Final Advice
- Read books on financial literacy (Rich Dad Poor Dad is a great start).
- Start investing as soon as possible (early).
- Learn from mistakes and failures instead of fearing to face them.
- Develop a mindset for entrepreneurship and gain financial freedom.
- Take the advice of mentors and build a strong network.
By following these five lessons from the ‘Rich Dad Poor Dad’ book you can also achieve financial freedom. But, for this you will have to assimilate all these lessons into your habits.
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- Warren Buffett: 5 Best Tips to Become a Successful Investor
- Warren Buffett: The Mindset of Rich People
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