Robert Kiyosaki’s father was a well educated man, with a traditional mindset, who never had any financial independence. Robert had conflicting advice from both his fathers, but ultimately chose the advice of the rich one. In Rich Dad‘s words, “It’s not about working for money.” Instead, he bought assets and negotiated with his poor dad for free.
Rich Dad is Robert Kiyosaki’s father
Rich Dad taught his sons by teaching them through real-world experiences. For example, Robert worked in a job that paid him little, and he was frustrated. He learned that many people are stuck in jobs they don’t like, and that they earn far too little for the work they do. Robert began to feel discouraged, and he complained to his rich Dad.
But Rich Dad is not Robert Kiyosaki’s actual father. Robert Kiyosaki claims that he is the author’s father, but it is his own fictional character. His family asked that he not be identified, and Kiyosaki has admitted that Rich Dad is not one person, but rather a composite character drawn from the experiences of several advisors.
After discovering his son’s love of money, Robert’s father began teaching him about money. He began to teach his sons to understand that stealing was a federal crime. Later, Robert began helping his father make money. Eventually, he bought a house and started a business. Robert Kiyosaki’s father died in 2009, but he did not reveal the identity of his father until 2016. Although Richard Wassman Kimi was not Robert Kiyosaki’s biological father, he was a mentor to Robert and was a major inspiration in his life.
Rich Dad doesn’t work for money
Rich Dad was not the typical man. He never went to college or graduated from elementary school, but still he had an entrepreneurial spirit and built a large business empire in Hawaii. He owned small grocery stores, warehouses, restaurants, and a construction company. He strongly believed in the importance of financial education, but also did not encourage the typical career path or investment plan.
Robert Kiyosaki, the author of Rich Dad, Poor Dad, is a successful businessman who grew up with two fathers. His biological father was a Stanford-educated PhD who hated risk. In contrast, his best friend’s father, a high-school dropout, was incredibly wealthy. Despite the differences between his two fathers, Kiyosaki’s approach to money and work is remarkably similar.
One major lesson that Rich Dad teaches is that paying yourself first is difficult. His accountants and lawyers scoffed at this and called him crazy. However, he set aside money before spending it on anything. He never dipped into his savings to pay for anything. While it is true that money drives our lives, the fear of not having enough motivates us to work hard.
Rich Dad negotiates with poor dad for free
Unlike other financial books, Rich Dad Poor Dad isn’t all about accumulating money. The book is also filled with money-making tips and tricks. These include how to acquire free real estate without a down payment, how to make money with no capital, and how to get rid of bad habits. Author Robert T. Kiyosaki also makes his points on money education.
Robert Kiyosaki and Mike worked for a rich dad when they were young. Both spent time with him, going to ice cream parlors with him. During those meetings, he offered them a job at a local ice cream parlor. The rich dad gave them various offers, starting at 25 cents an hour, going up to $2 an hour, and even $5 an hour. However, the boys said no.
As for the book itself, the book is comprised of ten chapters, including an introduction. However, the focus of this review is on the first six lessons. Kiyosaki grew up with two influential fathers. His biological father was an intelligent and well-educated man who taught him the importance of hard work.
Rich Dad buys assets
The theory behind the concept of Rich Dad buys assets and Poor Dad buys liabilities is based on a simple fact: wealth is made up of assets and liabilities. Your house is your primary residence and your primary investment. However, it does not mean that you should be spending too much on it. A house with high monthly costs will not make you rich, even if it appreciated in value.
When Robert Simmons started investing at age nine, he decided to follow his rich dad’s advice. He started renting out comic books to friends and collected money for it. At the same time, he worked harder. He worked longer hours and learned about taxes. This allowed him to start his first business. Today, Robert owns multiple properties and continues to invest in real estate. His business is now worth hundreds of thousands of dollars.
Many people want to buy real assets. But not everyone can. Many people have trouble figuring out how to invest their money. Rather, they should try to find ways to maximize their earnings by using the money from their assets. This strategy works for a wide variety of assets. However, not every asset can be a real asset. A real asset is one that does not require the owner’s presence or management. A liability, on the other hand, requires the owner’s active involvement.