If you’re like most people, you’ve probably wondered whether it’s worth reading Rich Dad Poor Dad?, but if so, you’re not alone. Many people are under the false impression that they have to have money to invest, but this is not the case. Even people without money can become rich with the right advice. This book will show you how to invest for your future, regardless of where you’re starting from.
Robert Kiyosaki’s father
The father in Robert Kiyosaki’s book is a character who has similarities with the father of Kiyosaki’s real-life friend. Both men had a love of learning and a strong work ethic, and both were committed to financial education and learning about how money works. One of his friends became a millionaire, while the other was an eighth-grade dropout who struggled to make ends meet. The fathers’ stories are often compared throughout the book, and Kiyosaki points out the similarities between them.
When Robert Kiyosaki was nine years old, he had a friend named Mike who wanted to become rich. The father of Kiyosaki’s friend had a dream to build a business empire, and he was determined to help his son achieve that dream. Kiyosaki’s father, however, was unable to teach his son how to become rich, and so, Kiyosaki turned to Rich Dad for advice. The father of Rich Dad agreed to teach his son how to make money and helped Kiyosaki take basic jobs in supermarkets. Even though Kiyosaki missed a few softball games, he eventually made enough money to purchase a nice car and a nice house.
Kiyosaki, however, did not name his father in Rich Dad Poor Dad because the author wanted to keep the identity of the father confidential. However, he did provide a journalist with the name of Rich Dad’s son in order to protect his privacy. The journalist was able to contact the man who claimed to be Rich Dad’s son. They both agreed to remain anonymous, but if you want to be totally honest, you can always contact the father of Rich Dad.
When Robert was in his mid-20s, he was working for a large corporation. His bosses were constantly talking about promotions and pay increases. But as his deductions and tax rates rose, he realized he needed to follow his rich dad’s example. Consequently, he started working harder to sell Xerox machines.
During the stock market crash, Robert Kiyosaki was short of cash. He had some money in the stock market and rented out a small house to a local professor. The rental payments paid his mortgage. He then sold the house for $95,000 when the market started to recover. He then used the money to buy a 12-unit apartment. He then deferred the capital gains on the apartment and walked out with a profit of $475,000.
Unlike his father, Kiyosaki is not a financial expert. The book was mostly written by his partner Sharon Lector, a real CPA. Kiyosaki and Lector split up in 2000. The result was that Rich Dad Poor Dad lacked credibility.
Robert Kiyosaki’s father had a way of teaching his boys about money and how to use it wisely. He told his boys to avoid fear and greed. He taught them that the best way to learn is by doing. People who earn more money tend to have larger fears about losing it than those who earn less.
The rich father encouraged his son to take a wide range of experiences and to try various types of jobs. In contrast, his poor father believed that the best way to make money was to get a degree in a narrow area that offered security and benefits. It’s no wonder Kiyosaki almost missed out on his lifetime dream to be on Oprah, but he persisted.
One of the most important lessons in Rich Dad Poor Dad is to avoid putting all of your eggs in one basket. Many people make the mistake of thinking that their home is the most valuable asset. In reality, a home does not always appreciate in value. In fact, people can buy a million-dollar house and sell it for a fraction of its value. Furthermore, property taxes can affect your budget.
Robert Kiyosaki’s father’s life story taught him that money isn’t everything and that college is not a waste of time. Rather, it’s better to invest in education and pursue an entrepreneurial career. However, it’s important to note that many successful entrepreneurs started out with a college education and dropped out after two years. In this case, the key to success is education and seeing the risks of your choices.