Rikard was urban Swedes might call "Out-Stockholmers" born on Lästmakeregatan and a pupil at Norra Real Secondary School, where he actually quit, perhaps as early as 1898. According to his own statement, he realized early on that he wanted to become a painter, A former teacher at the Academy of Fine Arts, Prof August Malmström, had painted an oil entitled Älvalek which young Rikard adored. Malmström is said to have noticed Lindstrom's unique "talent for naval painting", and on his recommendation, young Rikard Lindstrom was allowed to make the trip to England or to become acquainted with the art collections in London. At least as important to his future artistic direction was perhaps the actual voyage itself, which was undertaken by cargo boat via Newcastle. This voyage was an eye opening adventure for the 18-year-old artist. 

After attending the Drawing Academy at the Swedish Technical School and after unbelievably having received free lessons from the famed Swedish artist Caleb Althin Rikard was ready for his next step. Despite some family opposition, in the fall of 1901, Lindstrom was accepted as a student at the Swedish Academy of Art. There he oddly stopped after two semesters having completed only the perspective and anatomy courses. Among his teachers, he had Olof Arborelius for outdoor painting and Oscar Björck as well. Both were esteemed Swedish painters and had produced well known artwork. Then followed three years of study in Khvn at "Krøyer o Zahrtmann" and ever after, Danish atmosphere and Copenhagen cultural life would be close to his heart. After another year's stay abroad, Lindstrom made his professional debut in April 1907 at the Swedish Artists' Association's exhibition in Uppsala. He soon married the painter, (and later journalist) Martha Rydell, whom he met during his time at the academy. The following year, he was elected as the very last member of the Artists' Association.

At that time, Lindstrom painted almost exclusively motifs from Stockholm's inner and outer island archipelago, an environment he knew well. Since the early boyhood he had sailed and engaged in boats, and for a couple of his early years he was a "Royal Post Sailor" in government service. This meant he sailed once a week, year round, carrying mail between Ornö, where he lived, and Huvudskär. At times this meant sailingin severe weather which was far from harmless and under adverse conditions, could take several days. In poor conditions a sailor might never return. From Ornö, Rikard moved to Muskö, later to Utö and Dalarö. Later towards the end of his life he would prefer the Åland archipelago as his subject matter.. His love for, and in-depth knowledge of everything that touched the sea, made fishing and ships his passion, and the early archipelago paintings have a striking vitality and self-perceived festivity. He used a fly-by-hand sweeping features and then finishes in a stain and streak technique, which would eventually degenerate into manes. Rhythmically and compositionally, almost all of these maritime archipelago seascapes show kinship with Karl Nordström's marine pieces. In addition to Zorn, it was Nordström whom Rikard personally expressed his most artistic admiration for. He was drawn to Zorn's sensualism and probably also felt liberated by it.

When he ventured inland it was the landscapes of Lofoten, where Lindstrom from 1911 would return almost annually. Most of the works are painted with a broad brush and monumentally laid out, sometimes with a symbolic endorsement: the little man before the might of nature, such as Kjeldbergstinden (1912; now in private ownership). The winter pieces from Lofoten's mountain world and the summer portraits from the archipelago, often with the characteristic rose-type shoots reflected in shiny water would dominate Rikard's production. He would include elements of motifs from trips to the Mediterranean and to Sthlm. One piece out of the ordinary was his assignment to illustrate August Strindberg's "The Romantic Clock" on Rånö, which Bonnier's publishers wanted to publish for Strindberg's 60th birthday in 1909. Despite the quarrel with Strindberg, who did not trust Lindstrom "to even be able to draw from his father's organ in Sankt Jakob " he had to perform the proposed vignettes with motifs from Rånö o Sthlm. This would include no less than two expertly rendered organs as well as the characteristic silhouette of Jakob Church (The original, 17 watercolor pen drawings are now in a Swedish gallery).

The years around 1910, Lindstrom's artistry was in strong development, with his production strikingly rich. There were high hopes for him from the artists' association, but of course not from Nordström. Never the less his other peers' appreciation of his talent is evident from the fact that at the "Olympic Exhibition of 1912" he had been assigned his own entire hall. There he exhibited some thirty oils, predominantly Lofoten motifs. Both audience and critics were generally appreciative, and one praised his rhythmically bold compositions and fine color harmonies. 

The 20th century produced several monumental works, which confirm Lindstrom's position as a marine painter. Examples include; Sadelöga (1920; private ownership) and "Spring in the Sea Band" (1931; NM).  In general, his paintings becomes lighter and brighter during the 1930s, when a large number of "blonde" sea paintings of a more intimate attitude were seen, with shimmering light shimmer over white boats and glittering bays. Here the fatal stain technique has disappeared, but at the same time the harmonics of the monumental works.

Lindstrom was also a fine writer. In many respects, his authorship  are more or less autobiographical. Here, too, he resides in love with the sea and the Lofoten mountain world. Stylistically, at the same time, he is simple and elegant, without being superficial. His literary form was short, miniature stories taken from Hjalmar Söderberg's History, perhaps with inspiration from HC Andersen, whom he admired highly. He has illustrated several books himself. From time to time, he also worked in illustrating travelogues.