If you have read Rich Dad Poor Dad, you have most likely seen the stories of people who seem to be wealthy, yet are on the verge of bankruptcy. The book shows how it is possible to make a million dollars a year and still be broke. Some people spend it on luxury cars, a fifty million dollar house, and exorbitant amounts of clothing.
Rich Dad teaches people to build wealth through self-education
Rich Dad is a book that teaches people how to build wealth through self-education. His methods include investing in small-cap stocks and real estate. He believes that wealth-building comes from a combination of self-education and self-organization. While it is not possible to become rich overnight, the key to building wealth is to specialize in things that are your strength.
Rich Dad Poor Dad contains ten chapters, as well as an introduction. However, this review will focus on the first six lessons. Kiyosaki’s writing style is narrative rather than theoretical, and he uses examples and illustrations to explain concepts. For example, he uses pictures to illustrate concepts like cash flow. He shows how to distinguish between assets and liabilities.
Poor Dad teaches people to depend on their employer for their financial well being
The author of the bestseller Rich Dad Poor Dad argues that you must change your mindset about work and money to be rich. The idea is to learn how to be wealthy, not rely on your employer to give you money. Rather, the book encourages you to think like a wealthy person by talking to successful people and attending seminars.
Many high-performing people never achieve wealth, but they do struggle to keep their heads above water. According to Experian, consumer debt has increased by 31 percent since 2010. In fact, the average American has more than $90,000 in debt.
Both fathers are cynics
In Rich Dad, Poor Dad, the author compares the financial and lifestyle habits of a rich and a poor dad. The book focuses on the differences in these two groups of people and highlights the financial acumen of the rich. He attributes much of his financial success to conversations with his rich father and makes the case for pro-capitalism in our society.
One of the primary differences between the rich and the poor is how they manage their fears. Those who have a rich mindset are confident and use money wisely to buy assets, take advantage of income-generating opportunities, and quickly multiply their money. On the other hand, those with low financial intelligence tend to sink into debt and let bad habits get the best of them.
Both fathers teach their sons to get a job
As a father, you want your son to become successful and get a good job. This means introducing him to the world of men and the peculiar ways they do things. Fathers give young boys an “in” to this world and teach them the “how and why” of men’s activities. They also teach their son to respect and appreciate women, which is an important life lesson for both fathers and sons.