Tiimiakatemia on Jyväskylän Ammattikorkeakoulun yrittäjyyden huippuyksikkö

Rich Dad, Poor Dad

Kirjoitettu 10.05.21
Esseen kirjoittaja: Toni Kangas
Kirjapisteet: 3
Kirja: Rich dad, Poor dad & rahapodi "35-vuotiaana eläkkeelle" (Martin Paasi ja Miikka Luukkonen)
Kirjan kirjoittaja: Robert T. Kiyosaki
Kategoriat: 1. Oppiminen, 3. Yrittäjyys, 3.2. Yrittäjän taidot ja työkalut, 3.3. Yrityksen roiminnan kehittäminen

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Robert T. Kiyosaki’s book ”Rich dad, Poor dad” (2017) advices how one becomes financially independent. All the advice is fairly practical, and can be used by all people irrespective of what income bracket they are in. The book was first released in 1997 and has since gotten updates now and then, but most of Kiyosaki’s teachings are timeless. 

I know “Rich dad, Poor dad” is considered by many to be the best personal finance book of all time. I’ve heard some of my friends rate it very highly. I can see why some find it so useful. There is plenty of exceptional advice for complete novice and even more hardened veterans. Im going to go through my personal favourites. 


You don’t need to earn a high income to be rich. 

If you don’t make much money, but don’t have to worry about having food and paying your bills next month, are you poor? 

If you make tons of money, but must work two jobs to cover the expenses of huge mortgage of your luxurious home and your Lamborghini’s car loan, are you poor? 

Kiyosaki suggests that wealth is very much different than a person’s net worth. Too often we look at the net worth and think that person is rich. Kiyosaki teaches that you must look at the balance of income and expenses to see if a person is rich or not. If you must leave in the morning for work, even if you don’t feel like it, you are not wealthy. 

“So many people say, ‘Oh, I’m not interested in money.’ Yet they’ll work at a job for eight hours a day. 

This is the same way of thinking I have carried most of my adulthood. I’m not chasing money to be called rich. I’m chasing it to be free. I had my first real job for like a week or two before my way of thinking towards money started changing rapidly. I realized fast that I wanted to be financially free and set my goal at the age of 35. Slowly I have become a bit more lenient on myself and now my goal is closer to the age of 40. I realized I can achieve financial independence without sacrificing other things in life.  

Kiyosaki’s teachings are very practical, and I think they work well towards finding that almost anyone can be rich with some effort. The first thing is to find the right mindset and realize you have understood the system completely wrong. They say money comes to money, but it doesn’t just happen magically. 




Kiyosaki talks about how the big difference between what separates rich from the rest is their willingness to take risks. “It’s not the smart who get ahead, but the bold.” He tells how fear and self-doubt are the greatest things slowing most people down. 

With money, most people would rather play it safe. Kiyosaki sees there are great opportunities ahead. I’m not sure if he thought this in 1997 or 2017, but I think it holds true anyway. In 1997 the boldest rode the dot-com bubble. Now the bold are riding the current stock bubble and crypto bubble. Some, or even most, are too bold and lose their money when the bull runs end, but it doesn’t take away the fact that this might be a lifetime opportunity.  

I have watched people playing CASHFLOW complain that the right opportunity cards are not coming their way. So they sit there. I know people who do that in real life. They wait for the right opportunity. 

I have watched people get the right opportunity card and then not have enough money. Then they complain that they would have gotten out of the Rat Race if they had had more money. So they sit there. I know people in real life who do that also. They see all the great deals, but they have no money. 

And I have seen people pull a great opportunity card, read it out loud, and have no idea that it is a great opportunity. They have the money, the time is right, they have the card, but can’t see the opportunity staring them in the face.” 

Survivor bias is a real thing, especially when it comes to finances. Seldom do you hear about the losers. Most of the losers were bold enough but didn’t understand the risks they were taking. It’s very different to take risks just for the sake of it, than to take risks that you understand. Kiyosaki says that financial intelligence is simply having more options. You see more solutions around you. You realize good risks from bad risks.  

The quote above hit home for me. I realize now so many missed opportunities that I would have seen if I were more financially educated when I was younger. Of course, it’s easy to say afterwards. “I Would have been a millionaire if I bought dogecoin start of the year” It’s easy to get caught up in what if-thinking. That being said, I’m certain that if I were presented with some of the opportunities I had in the past, I wouldn’t miss them now. That is because I’m more financially literate now. Most of the opportunities I missed I saw as opportunities. However, I didn’t understand the balance of the risks and the rewards.  Most of the time I picked the worse option because I was playing it too safe. I was somewhat financially literate to see the opportunity, but not literate enough to evaluate the risk to the reward. I was too afraid to commit most of the time 

For example, I was seriously pondering if I should buy some dogecoin at the start of the year. I didn’t, however, because I found the risk to be greater that the reward. I calculated how much I needed to buy and how much dogecoin would need to appreciate for it to be a good move. I didn’t see the bull run going for a year, so I had to take into account that I’m a student. My calculations considered that I would lose my student allowances if I sold before graduating 

Now that the bull run has been massive. I can see that I would have made more than enough to pay back for all the student allowances. But how likely was bull market this big at the start of the year? What other assets wouldn’t I have had if I put my money on dogecoin? Would I have foreseen bull run this big better if I were more financially literate? 

Naturally I have gained experience, but my risk appetite tells a lot about me. I have always been very conscious of the risks. I simply wasn’t ready when I had the opportunities. Kiyosaki thinks that luck is created, just as money is. Financial intelligence creates more luck. I find this to be more and more true the more experience I gain. Pure luck can take you very far, but even if you weren’t blessed with by the gods, in finance you can make your own luck. You might get unlucky with good bets and lucky with bad ones. However, if you are financially literate and you make mostly good bets, it doesn’t matter if you get unlucky here and there. For those who are financially aware it might seem you got lucky, the reality is your luck was just waiting to happen with those good bets you made. Odds are on the side of financially literate. 

Ever heard of someone suggesting to just go for it? Start investing in real estate, stocks, crypto, whatever the thing is you are interested in. Many much wiser men than me suggest the same old lesson: just start. With my minimal experience I must agree. It doesn’t matter if you lose a thousand euros or two when you start. You will not want to repeat your mistakes and you will learn. You make new mistakes and learn again. If you are interested in crypto you might soon find you don’t want all of your portfolio in such a volatile asset. You will discover different ways to manage your portfolio and your financial literacy skyrockets. Just tipping your toes in the water might be enough to pull you in. The more you know the more you realize, you don’t understand a thing. But soon you might find that the money doesn’t control you anymore 


The end game. 

On 72th episode of podcast “rahapodi” (35-vuotiaana eläkkeelle?) Martin Paasi ja Miikka Luukkonen have two guests Nuuka and P.Ohatta. Both are looking to retire early. In the episode they talk about their ambitions and tips about saving and investing money. The episode was aired in 2017. 

P.Ohatta has since released a blog post about his depression in 2020 (https://pohatta.com/luovutan/) and multiple posts about his failures in his financial journey (https://pohatta.com/huonojen-talouspaatosten-summa/). In the latter one he talks about how he is in a worse financial situation than he was when he started the blog.  

We all know people who get raises and make more and more money, but their expenses rise at the same rate. Pay raises don’t leave more money in the bank account at the end of the month. Kiyosaki preaches about controlling your expenses. “Life quality inflation” is a real thing. Controlling the expenses is as important or even more important than the income. 

Kiyosaki also thinks accounting is the most important skill when it comes to finances. He says that the numbers tell a story, and you need to be able to read it. If you can’t understand the numbers, you won’t be able to rewrite the story.   

P.Ohatta is great at bookkeeping, but he is still failing. Failing in having more income passive income than his expenses are. However, he has generated some wealth and in no way is he in a bad financial situation compared to most 

If you put it in perspective, he is quite wealthy compared to most of his peers his age. He just failed at his own goal of being financially independent at the age of 35.  

I can also see myself scolding myself when I’m poor fat lonely middle-aged man. Lonely and fat I might be able to take but being poor I can imagine being the last straw for me. Now that I have taken an interest in finance from such an early age, I except nothing less than having great amounts of wealth when I’m older. 

I think the secret lies in being content with less, but who does that in 2021? To be fair, it’s not even too much of a secret. But it’s not easy being content. Money doesn’t bring happiness, but lack of it sure doesn’t either. Don’t get too content or you become lazy. Don’t get too caught up chasing your goals, so that you forget all else that is important. Life sure is hard. It’s a bit funny my last essay is about money. Haven’t really written about it too much even though I find it fascinating. I came to Tiimiakatemia to learn about business, but also to improve my somewhat rusty social skills. Working with mostly 60-year-olds for a few years didn’t do me many favours. I think I learnt a lot more about the latter than the former. It’s really simple. Just go and do really. And if you can’t, find people who can. Make more money than you use. The other one still a mystery for me. Thank you all for sticking with me all this time, this will be my last release.  


Thank you Projektitoimisto Tempo. 

Thank you pinkku, who is copy pasting my essays. Not too much to copy, don’t you think? 

Thank you stranger, who is not in Tiimiakatemia, what are you doing here? 

Thank you, all the people who made it possible for me to achieve 80 kirjapiste. 

Thank you. 

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