Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! is a book in which Robert Kiyosaki shares the secrets of increasing one’s financial independence and financial intelligence.
Summary Of The Book
In the book Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Robert Kiyosaki advocates financial independence through owning businesses, investing, and real estate. He also talks about increasing one's financial intelligence.
What makes somebody rich? Is it hard work that matters the most? Or does one need to make the right financial decisions at the right time to be rich? This book answers these questions with the help of six easy to apprehend learn lessons. Written in the style of a set of parables, it is based on the real life of the author. Robert Kiyosaki takes the reader to his own childhood that he spent in Hawaii.
He promotes the philosophy of wealth creation and emphasizes on purchasing income generating assets. To prove his point, he offers real life examples and relates his own story in which he had two people who influenced him the most. One was his real father – an educator who worked hard to make money, and the other was his father’s best friend – a real estate tycoon who is the Rich Dad of the book and is extremely successful.
His biological father, the Poor Dad of the story, bought consumer goods for his family’s satisfaction and had to remain financially dependent for his entire life. The Rich dad, on the other hand, used his money to create more money-making assets. And this is the attitude that the author highlights throughout the book and says is the basic difference between the poor and the rich.
He values the ownership of high value assets more than being just an ordinary employee. He provides a new look at an old financial mindset. This book claims to teach people how to become rich without requiring a high income and take control of one’s financial future.
The book remained on The New York Times paperback ‘advice’ chart for 100 weeks. It has sold more than 26 million copies. Robert Kiyosaki, a millionaire himself, teaches what kids need to be taught about money and how even poor parents train their kids to be rich someday!
About Robert Kiyosaki
Robert Kiyosaki is an internationally acclaimed American author, motivational speaker, investor, financial commentator, and businessman.
Other books written by Kiyosaki include The Business Of The 21st Century, Rich Dad's Cashflow Quadrant: Guide to Financial Freedom, Rich Dad’s Guide To Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!, and Retire Young Retire Rich: How To Get Rich Quickly And Stay etc.
Born in 1947, he was born in Hilo in Hawaii. He graduated from the U.S. Merchant Marine Academy in New York. Today he operates the Rich Dad Company and Cashflow Technologies, Inc. He was a helicopter gunship pilot and was presented with the Air Medal. He took retirement in 1997 and operates various business ventures and other investments. He has invested in many business ventures like Mining, Real Estate, Silver and Gold trading, Oil drilling and a few more.
Good personal finance book
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Must read for everyone!
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Best book to read
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