Robert Kiyosaki: How To Learn Like the Rich

Robert Kiyosaki’s “Rich Dad Poor Dad” just might be the most influential money book of all time. Originally published in 1997, it’s still at or near the top of all personal finance bestseller lists.

The book offers lessons on money and life, and Kiyosaki learned a few of his own after launching his first business in the 1980s, he wrote in his blog. He made velcro and nylon wallets printed with the names of the big music acts of the day. Although the business took off at first, Kiyosaki let his attorney talk him out of securing patents for his wallets because the fees would have been upwards of $10,000. When word of his success got out, another company copied his unprotected idea and Kiyosaki lost millions of dollars when the business failed.

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Best known as the author of the personal finance classic “Rich Dad Poor Dad,” Robert Kiyosaki has spent decades studying and writing about how the wealthy build their fortunes. He explained that, unlike the middle class, the rich use education and work differently, following a philosophy of lifelong learning to enhance their lives.

See: How To Become Rich on an Average Salary

Also: Subtle Signs Someone Is Fake Rich vs. Actually Rich

Knowing this, let’s explore Kiyosaki’s advice on how to shift your own mindset and actions to “learn like the rich.” From embracing mistakes to seeking faster formulas, implementing these principles can help you gain the knowledge necessary to increase your wealth and freedom.

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Choose Active Learning

Kiyosaki cautions that it’s vital to be an active, not passive, learner if you want control over your financial destiny. “Because your mind is so powerful, it’s important to be careful what you learn,” his team wrote on his site. “When you’re a passive learner, you become whatever others want you to be rather than what you want to be.” The rich maintain agency in their self-education, directing their focus toward acquiring skills that will improve their entrepreneurial abilities rather than solely getting credentials for traditional jobs. This prevents them from becoming trapped in a cycle of working for money without actually building assets and leverage.

Adopt a “Learning” Mindset About Work

The rich tend to view work primarily as a vehicle for learning, while the middle class tends to focus solely on the monetary compensation. Kiyosaki notes his “poor dad” advised him to find a high-paying, stable job and work his way up the ladder. Meanwhile, his best friend’s father and financial mentor, dubbed his “rich dad,” believed the most important thing was continual learning. “Learning is the most important thing,” rich dad emphasized. Kiyosaki took this to heart from a young age, leaving lucrative corporate jobs when he stopped acquiring new knowledge in order to build expertise in other areas like real estate and sales, which fueled his success.

Become a Generalist

According to rich dad’s philosophy, the best path is to become a generalist with knowledge across various niches rather than specializing. Poor dad disagreed, believing increased specialization leads to higher pay from being an expert in a narrow field. Rich dad contended that becoming a versatile generalist allows one to better understand the big picture workings of companies and industries, which helps in leading organizations effectively. Kiyosaki himself focused on obtaining transferable skills in leadership, sales, finance and real estate that enabled him to recognize opportunities and guide specialists toward executing on his ideas.

Take Control of Your Financial Education

As opposed to traditional education, which is focused on getting a good job, the rich proactively direct their learning specifically toward money-making abilities. Kiyosaki credits this practice with making him wealthy, as seen when he took a real estate class at age 26 that taught him formulas for buying foreclosed properties profitably. Teaching himself direct sales skills that could be applied across industries allowed him to capitalize on multiple business ventures over time. Even today, he continually seeks out teachers who can provide the latest, cutting-edge education on thriving financially in creative ways. This distinguishes him from the middle class, who generally rely on conventional academics and financial advisors to dictate their money management.

Learn Quickly

Speed is critical when expanding your financial education according to rich dad’s philosophy. Information moves rapidly, so forming a competitive edge requires identifying emerging data and trends before the mainstream catches on. Kiyosaki gives the example of using new trading techniques he learned from active traders to improve stock picks and real estate plays. He also points to the fame of Thomas Edison and Levi Strauss, both who raced ahead of trends to reap outsized rewards later with their innovations. The ability to quickly gather and implement fresh knowledge pays off both financially and in one’s career.

Turn Mistakes Into Magic

While the middle class fears and avoids mistakes, the wealthy adopt a different mindset that powers success. “Rich dad came from the streets. He had a different view on mistakes; they were opportunities to learn something new,” Kiyosaki’s team explained. “To rich dad, the more mistakes a person made and I take the time to learn from, the more magic I have in my life.” He references the repeated failures of icons like Michael Jordan and Thomas Edison on their journeys toward groundbreaking accomplishments. Each error built knowledge that allowed them to evolve their work. Like these role models, budding entrepreneurs should embrace missteps as a tool for growth, not something to be ashamed of.

Final Takeaways

Kiyosaki insists one of the biggest barriers holding people back from prosperity is limiting beliefs about learning and failure. By taking charge of your education, adopting a love of learning, speeding up your acquisition of financial knowledge and persevering through mistakes, you begin to embody the educational principles of the rich. Master these concepts, and you have the power to manifest the wealth levels long considered out of reach. What “magic” will you create next with these insightful strategies?

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This article originally appeared on GOBankingRates.com: Robert Kiyosaki: How To Learn Like the Rich