Rich Dad Poor Dad by Robert T. Kiyosaki
The Book in Three Sentences
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
(1) Rich Dad Poor Dad is about Robert Kiyosaki and his two dads—his real father (poor dad) and the father of his best friend (rich dad)—and the ways in which both men shaped his thoughts about money and investing.
(2) You don’t need to earn a high income to be rich.
(3) Rich people make money work for them.
Reading this book has helped me understand the science behind making money, which is that it takes money to make money, rather than a time for money. Robert Kiyosaki talks about investing in your asset column rather than your liability column. The majority of people, even if a percentage of them have a high salary job end up with a lot of liabilities and therefore have a lot of money going out, and in the end, their cash flow is out of balance.
Rich Dad Poor Dad Lessons
- Lesson 1: The Rich Don’t Work for Money
- Lesson 2: Why Teach Financial Literacy?
- Lesson 3: Mind Your Own Business
- Lesson 4: The History of Taxes and The Power of Corporations
- Lesson 5: The Rich Invent Money
- Lesson 6: Work to Learn—Don’t Work for Money
Rich Dad Poor Dad Reviews
It is a fact that schools are mostly designed to produce employees and not employers of which I myself was proof that I thought of the job, security, avoid risks, and hated talking about money. It is a book that taught me the thought process of poor and middle-class people where I belong, which laid the foundation for the progress of my thoughts about financial wisdom. I was very intrigued about the tax system and determined to read more about taxes and shocked about poor and middle-class people who will pay more taxes than rich.
A detailed description of difference between assets and liabilities was the best part and how to develop your asset column by investing in yourself to escape from the rat race and retire early and let assets will make money for you was where I got interested.
“Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.”
This book shows how we, the majority of the people think, & that’s why we remain poor all our life. All of us think of becoming rich, but do the same thing, practice the same financial activities that all the people around us are doing. So how can we become rich by using money like a poor?
According to Kiyosaki, real assets fall into the following categories:
Income-generating real estate
Royalties from intellectual property such as music, scripts, and patents
Anything else that has value, produces income or appreciates, and has a ready market
Kiyosaki reminds people that financial IQ is made up of knowledge from four broad areas of expertise:
- Understanding markets
- The law
- Mass Market Paperback: 336 pages
- Publisher: Plata Publishing; 20 Anv Upd edition (11 April 2017)
- Language: English
- Product Dimensions: 10.8 x 2.5 x 17.8 cm