Rich Dad Poor Dad inspired me from within, the first time I read it. I wanted to run out and start practising a portion of the thoughts in the book. However, I discovered a fact soon. You can’t simply just go to the streets, spend five hours and leave away with 60,000 in real money. I was truly disillusioned. The thoughts introduced in Rich Dad, Poor Dad aren’t especially significant or extravagant. Yet the ideas were completely new to me. This is particularly valid for how the book instructed me to consider money, not as an ultimate objective. But it showed me a way to create wealth. All in all, what sort of book would cause such a solid shift in opinion?
Rich Dad, Poor Dad is essentially what I would call an individual finance perspective. Rich Dad, Poor Dad is about the understanding of how money functions. It advocates the significance of financial education (Financial Education) and monetary independence. It promotes creating wealth by putting resources into resources. For instance, Land, real estate, starting your own business & investing in other businesses. Not just that but also expanding one’s financial knowledge improves one’s matter of fact and money related fitness.
Summarizes Financial Literacy
Illustrations that are apparently dependent on Kiyosaki’s life serve as the writing style of Rich Dad Poor Dad. The main “Rich Dad” is his friend’s dad who created wealth by doing business and investing money in various avenues. On the contrary, “Poor Dad” is claimed to be Kiyosaki’s very own dad. He says, his dad buckled down for his entire life yet never got any financial related security. However, nobody has ever proved the existence of “Rich Dad”. The man who apparently guided Kiyosaki for a wealthy living, at any point doesn’t seem to exist.
The title Rich Dad, Poor Dad alludes to the two primary male influences that Robert had as a kid. His very own dad, the metaphorical “Poor Dad” worked at a stable job throughout his life. Whereas“Rich Dad” maintained a huge number of organizations. The vast majority of this book is told from the point of view of Robert gaining from his “Rich Dad”. It also tells about how to make money & become financially independent. It perceives how his “Poor Dad” committed a number of financial mistakes that should be avoided.
The idea of trading time for money just isn’t the smartest way to go through life & earn money. You have to make your money work for you & not the other way around. This is because ideal money unless invested won’t help you become financially independent. The author of Rich Dad, Poor Dad, Robert Kiyosaki, believes precisely that. Here are some of his key concepts:
- Being rich = freedom.
- Rich individuals make money work for them, while most every other individual work for money.
- Financial literacy or financial education is the key to success.
Typical analysing this book, we can say that it is inspiring when you arrive at the end of the book. But you have no clue what the initial step is. I think everything begins with motivation. The difference between successful individuals & those who aren’t is that they take inspiration & they work upon it. They don’t let fear, failure and endless investigation paralyze them (Kiyosaki calls this “analysis paralysis”).
Well, here we can conclude it. There is plenty more good & educational information in Rich Dad Poor Dad and I recommend reading it. But if you can’t be bothered, here is my summary in three sentences:
- Take responsibility for your financial future.
- Educate yourself on how to invest and gain more knowledge & work your way towards financial literacy.
- Increase your money-making assets while cutting down on your liabilities.
Last but not least, Rich Dad Poor Dad is an extraordinary book for starting to improve your monetary insight. It focuses on the goal that you don’t work multiple jobs, slogging your ass off. Which results in neither achieving financial security nor gaining any financial knowledge. Good luck on your excursion to being Rich, poor, or middle class.
Name of the book – Rich Dad, Poor Dad.
Genre – Self-help
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