Robert T. Kiyosaki - Rich Dads Guide to Becoming

This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and if legal or other expert assistance is required, the services of a professional should be sought. The authors and publisher specifically disclaim any liability that is incurred from the use or application of the contents of this book.

Although based on a true story, certain events in the book have been fictionalized for educational content and impact.

CASHFLOW and Rich Dad are registered trademarks of CASHFLOW Technologies, Inc. Rich Dads Advisors is a trademark of CASHFLOW Technologies, Inc.

are trademarks of CASHFLOW Technologies, Inc.

Copyright 2003 by Robert T. Kiyosaki and Sharon L. Lechter.

All rights reserved. Except as permitted under the U.S. Copyright Act of 1976, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

Warner Business Books

Hachette Book Group

237 Park Avenue

New York, NY 10017

Visit our website at www.HachetteBookGroup.com

Warner Business Books is an imprint of Warner Books

First eBook Edition: January 2010

ISBN: 978-0-7595-2145-2

Rich Dad Poor Dad

What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not

Rich Dads CASHFLOW Quadrant

Rich Dads Guide to Financial Freedom

Rich Dads Guide to Investing

What the Rich Invest In That the Poor and Middle Class Do Not

Rich Dads Rich Kid Smart Kid

Give Your Child a Financial Head Start

Rich Dads Retire Young Retire Rich

How to Get Rich Quickly and Stay Rich Forever

Rich Dads Prophecy

Why the Biggest Stock Market Crash in History Is Still Coming And How You Can Prepare Yourself and Profit from It!

Rich Dads Success Stories

Real Life Success Stories from Real Life People Who Followed the Rich Dad Lesson

Rich Dads Guide to Becoming Rich Without Cutting Up Your Credit Cards

Turn Bad Debt into Good Debt

The question really is:

WHO DOESNT WANT TO BE A MILLIONAIRE?

Recently, the most popular show on American television was Who Wants to Be a Millionaire. It was an overnight success not only here, but worldwide, with different on-air hosts in different countries. All you had to do, of course, was answer a series of trivia questions, and with each correct response, you earned more cashright up to the jackpot of one million dollars!

The question Who wants to be a millionaire? became a popular catch phrase everywhere. Lets face itwith so much fixation on shows about money, getting rich, stock market millionaires, and huge lottery payouts, it leads us to the question, Who doesnt want to be a millionaire?

And yes, it is possible to win a million dollars on a game show. It is also possible to get millions of dollars by winning the lottery. And it is possible to become a millionaire by investing in an IPO (initial public offering). Then you could retire rich for the rest of your life. In fact, there are more ways to become rich today than in any other time in our history. Maybe that is why there is such an international frenzy over the idea of getting richand the quicker the better.

I was recently on television talking about my book Rich Dad Poor Dad. The interviewer asked, Come on, why dont you tell us the truth? Didnt you write your book simply to take advantage of this get-rich-quick craze that is sweeping the nation?

Her question really surprised me and I was almost at a loss for words. Finally, after regaining my thoughts, I replied, You know, I never saw it that way. I can see why you would think I would write a book just for that reason. I wish I could say I was that smart. Smart enough to time my book for just this moment in history, but I am afraid I am not that smart. I wrote this book because I wanted to tell the story of the money lessons I learned from my two dads.

When I wrote the book in 1997, every bookstore and book distributor we approached turned it down. For that matter, in 1997, Who Wants to Be a Millionaire was not yet a TV show. I paused and said, In fact, my book actually represents the exact opposite message of these game shows, stock market millionaires, and lotteries. Again I paused, thinking for a moment, and then continued, There is indeed a frenzy today about getting rich quick and while my book is about getting rich, it is not about getting rich quick.

The commentator nodded and grinned a skeptical grin. So if you are not part of this get-rich-quick mania, then what are you? Get rich slowly?

I could feel her sarcasm and it challenged me. In front of millions of viewers I had to try to keep my cool. So I forced a chuckle in response to her barbed comment and said, No, my book is not about getting rich quickly or getting rich slowly I then smiled and waited for her to ask me the next question. The silence was deadly but I held my ground as calmly as possible, waiting for her to make the next move.

She smiled and asked, So what is your book about?

I grinned and replied, It is about the price of getting rich.

The price? she replied. What do you mean by the price?

As she asked the question, the producer signaled to her that we were out of time. She then urged me to hurry with my answer and I ended the interview by saying, Most everyone wants to get rich. But the problem is, only a few people are willing to pay the price.

The TV interview was over. The host thanked me and they cut to the final commercial. The problem was, I never answered what I think the price of becoming a millionaire is. This book answers the question that was not answered on that television interview

The U.S. Department of Health, Education, and Welfare tracked people from age twenty to sixty-five. Their findings were as follows:

By age sixty-five, per 100 people:

In addition, more than 35 percent of that wealthy 1 percent inherited their wealth, as did a large percentage of the 4 percent that were well off. As an additional note, Forbes magazine defines the rich as individuals with an income of over $1 million a year.

With the economic boom of the last ten years of the twentieth century, there was an increase in the number of wealthy and well off. Yet, the question remains, what did the top 5 percent who are rich do that the others did not? What was the difference in price the 5 percent paid that the others did not pay?

When I was young, my rich dad drove me past a classmates house, located in a very rich neighborhood. I asked rich dad if my classmates dad was rich. Rich dad chuckled and responded, A high-income job, a big house, nice cars, and lavish vacations do not mean youre rich. In fact it could mean exactly the opposite. A lavish lifestyle does not mean youre smart or well educated. It could mean exactly the opposite.