Rich Dad Poor Dad is a financial literacy primer, written in an engaging style. It features personal stories from Robert Kiyosaki’s upbringing, practical advice, and financial literacy lessons. It debunks common money myths and lays out the building blocks for financial stability.
Lessons from Robert Kiyosaki’s real father
Robert Kiyosaki, the author of the book Rich Dad, Poor Dad, discusses financial independence and mindful spending in this book. His experiences in life are an excellent way to learn about money and personal finance. In Rich Dad, Poor Dad, Kiyosaki tells the story of his father, who was both a rich and a poor man. His poor father believed that wealth was based on genetics and class, while his rich dad believed that wealth comes from experience and hard work.
Robert Kiyosaki grew up with two fathers, one of whom was a Ph.D., and one who barely finished eighth grade. His father worked long hours to build an empire that included a restaurant chain, construction company, warehouses, and convenience store chain. The two fathers came from different backgrounds, but both struggled with money and built empires. Both men were educated, but poor in their personal lives. Robert Kiyosaki’s father encouraged him to earn a respectable degree and climb the corporate ladder. The two fathers also had different ethical backgrounds.
As a result, Kiyosaki’s book became a best seller and a phenomenon. But controversy soon surrounded Rich Dad. Kiyosaki responded to a journalist’s question: “Was Rich Dad Really Rich?” with a response that sparked a firestorm. Several critics claimed that there is no such thing as a real Rich Dad, and demanded that the book be put in the fiction section.
Influences on Kiyosaki’s perspective on money
Robert Kiyosaki had two fathers – one had a Ph.D. and the other finished an undergraduate degree in two years. Despite having similar backgrounds, both fathers struggled with money. Eventually, one became the richest man in Hawaii and the other struggled. As a result, Robert and his father were often compared. While the fathers were different in the way they viewed money and their personal life, they did have many similarities. Both fathers struggled with money and both experienced it early in their careers.
The first of the two influences on Kiyosaki’s financial philosophy involves his own background. His father, Mike Kiyosaki, was a successful businessman who retired at the age of 47. He raised his son to take over the business when he retired.
Robert Kiyosaki is a third-generation Japanese American. He has a background in education and real estate. He also works as an investor in various businesses. His investments include real estate, education, retail, publishing, mining, and information technology. He lives in Phoenix, Arizona.
Reliability of the book
Robert Kiyosaki’s book Rich Dad Poor Dad has received mixed reviews. The book was published as non-fiction, but Kiyosaki claims that it is based on true events. Although the Rich Dad character in the book is not a real person, he is a successful businessman who shares his experiences with others.
The book is filled with outdated cliches about money. Kiyosaki’s own dad was continually in debt, and he mistakenly thought that more money would solve his problems. As a result, he spent every dime that he earned. To counter this, Kiyosaki emphasizes the importance of managing your cash flow. He outlines ways to direct your cash flow to investments.
The book is full of good concepts, but it’s not terribly well written. Many people will find the book boring and repetitive. Many people will have the key concepts down after reading about half of the book.
Value of the book
“Rich Dad Poor Dad” has become one of the best-selling books on personal finance. It takes readers through the lives of two very different fathers and compares their financial advice and opinions. It explores the importance of saving, investing, education, and hard work, and compares tax laws.
The concepts presented in Rich Dad Poor Dad are solid and a must-read for anyone interested in money and credit. However, the book suffers from repetition and poor writing. Generally, most people will grasp the core concepts after reading less than half the book. However, the book will not appeal to those with very little financial knowledge.
In the world today, about 95 percent of the world’s wealth is owned by just 5% of people. The rest of the world’s wealth is distributed among the other 95% of people who work for a living. The majority of people educated for jobs will never earn a million dollars. In fact, only the CEO of a big company earns that much as an employee. Rich Dad Poor Dad offers an alternative path to wealth.