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Rich Dad Poor Dad by Robert Kiyosaki - A Book Review
by Lee Spaziano
Rich Dad Poor Dad, authored by Robert Kiyosaki, is an educational tale about a boy growing up with two dads; his biological father and his friend's father who treated him as his own son.
His biological father was the one that he considers his Poor Dad, while his friend's father is the one that is said to be the Rich Dad. The poor father is compared to other poor fathers around the world who encourage their children to succeed in school and to be able to get a good job later in life. On the other hand, his Rich Dad encourages him to learn the power and knowledge of investing. Given the advantage of having two dads with such contrasting views, he was able to compare the two and create his own view.
Throughout Rich Dad Poor Dad, Robert Kiyosaki learned 6 important lessons:
The Rich Do Not Work For Money. In this part of the story, Robert Kiyosaki learns to take risk. Most people do not learn this and end up playing it safe for the majority of their life and are never able to financially get ahead. His Rich Dad teaches him that poor people are afraid, so they work for money and security, but do not see the opportunities that lay right in front of their eyes.
The Importance of Financial Literacy. In this lesson, Robert Kiyosaki is older and learns from the misfortune of others that you need financial literacy to stay safe. He discovers that the main reason for financial trouble is not knowing the difference between assets and liabilities. That is why so many of people have problems staying rich, once they get rich. Kiyosaki's Rich Dad tells him simply, "An asset is something that puts money into my pocket, and a liability is something that takes money out of my pocket. If you want to be rich, simply spend your life buying assets. If you want to be poor or middle class, spend your life buying liabilities."
Minding Your Own Business. In this lesson, Robert Kiyosaki learns from his Rich Dad that in order to become financial self sufficient you need to find a way to become your own boss and worry about your own business. He learns from his Poor Dad that the main reason for financial struggle is spending all your life working for somebody else.
Taxes and Corporations. Robert Kiyosaki's Rich Dad taught him that rich people do not let themselves be run over by corporations, but instead they use the big corporations help protect their money and assets. He learned that he could help himself by taking classes about marketing, investing, accounting, etc.
The Rich Invent Money. The main point Kiyosaki learns from his Rich Dad throughout this lesson is that you have to create your own luck. You cannot just sit around and wait for the right opportunity to show up! It will not happen if you do not put effort into it. In this lesson "fear" once again comes into play. According to Kiyosaki's Rich Dad, it is not the well educated people that become rich, but it is the people willing to take a risk and make it happen.
Work to Learn, Do Not Work For Money.Kiyosaki learned that the rich do not work for money, they work for knowledge and skill. If you spend time and effort chasing a dollar, you will find it to be an illusive goal. If on the other hand, you chase wisdom and skills, the money will naturally follow.
Robert Kiyosaki sums up his tale of Rich Dad Poor Dad with the five major obstacles that limit financial growth.
FearCynicismLazinessBad habitsArrogance
Overall, this book is an excellent read. It will help you to build a strong foundational base for a long and successful entrepreneurial career. I would suggest this book as a primer to a business education and a must read for anybody that wants to build wealth and financial independence.
About the Author
Go to FortuneSecretsRevealed.com to learn more about building wealth and creating your own financial freedom.
Or visit CashSecretsRevealed.com to learn how to save money by getting cash back on everything you buy.
Ururun Robert Sabuda and Matthew Reinhart
Robert and Matthew's studio are taped for an episode of Japanese's most popular reality tv show!
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