Book Review – Rich Dad Poor Dad
When I first heard of “Rich Dad, Poor Dad” few years back, I thought its a book on how to teach money management to your kids, but when I read it, I found that the concepts mentioned by Kiyosaki were relevant for all age groups.
In Rich Dad, Poor Dad : What the rich teach their kids about money that the poor and the middle class do not!, Kiyosaki quashes a lot of so-called myths related to objectives of education and teaches us how to achieve financial independence. No doubt, the cover of the Wall Street Journal referred to Rich Dad Poor Dad as a “must read for millionaires.”
Most people know by now that this is the true story of Kiyosaki’s two fathers, one, his real dad had a high income but was poor. The other, his friends dad, but Kiyosaki’s mentor and Rich Dad.
Kiyosaki learned that income alone does not create wealth as he learned from his “Poor Dad.” Seeking financial freedom, Kiyosaki learned from his “Rich Dad” the keys to wealth.
Kiyosaki went on to amass a fortune and lost it. But remembering the lesson taught from his “Rich Dad”, started over and amassed yet another fortune and retired at age 47.
The book will tell you some things you don’t want to hear like a house is not an asset and the so called “safe” investments are not quite so safe. That there is no such thing as job security and the world is full of “bullies” who will tell you how much money you can make, when and how many vacations you can take, lunch breaks etc.
Kiyosaki’s “Poor Dad” was fired at age 50 and learning from this, Kiyosaki tells us that the only real security and freedom is in being your own boss.
Kiyosaki goes on to say that both of his dads were “honest, good, honorable men” but his poor dad, although a hard worker was weak and consequently ended up broke.
Interestingly and shockingly, Kiyosaki pledges in this first book that, “If you want to Be Rich and Happy, Don’t Go To School?”. This is not to undermine the importance of schooling but to highlight the drawback of our education system that does not provide practical and enterpreunial education.
Rich Dad Poor Dad is an excellent book. The main message is to take responsibility for your life. You are either a master of money or a slave to it.
In addition to Rich Dad Poor Dad, I also recommend “Cash Flow Quadrant”, “Rich Dad’s Success Stories”, “Rich Dad’s Who Took My Money?” and “Rich Dad’s Retire Young, Retire Rich” from the same author.
In case you haven’t read them yet, grab a copy now, just click on the image below to Buy online.
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