This book is about money and creating wealth, so it may not be the best book to teach you how to become wealthy. However, it does raise several important points and may be worth the read, especially if you are serious about achieving financial freedom. The book is written in a story format and Kiyosaki gives his advice from a child’s perspective. It is also written in simple terms and is easy to understand.
Rich dad teaches kids to create money
A rich dad is an example of someone who knows the value of time and effort. Unlike average dads, he believes in the power of diversification. Investing in multiple ways will help protect your family from any financial crisis, while teaching your kids not to become overly reliant on one source of income. Investing is also a way to create wealth and to retire early, while teaching your kids how to live below their means.
Another example of how a rich father teaches his children is through his network. By creating opportunities for kids to interact with powerful people, rich dads teach them to create money and get rich. These interactions can have profound effects on the kids’ future, and they are essential to financial literacy and goal-setting. The book, Rich Dad Poor Dad, received critical reviews as well as praise. But critics criticized the book for its lack of substance and claimed that the lessons in it were “self-help boilerplate.”
Rich dad teaches kids to master emotions
The Rich Dad principle aims to teach the kids how to master their emotions, and the first lesson involves learning to delay our reactions to money and thought. We tend to act out of fear, and this leads us to take advantage of the system. For example, we feel disappointed when we receive our paycheck because of taxes. But Rich Dad is showing us that the rich don’t let the government tax them. He taught the kids how to master their emotions so that they can avoid this type of perpetual loop.
In addition, Rich dads teach the kids to network with influential people, which leads to more opportunities to interact with positive people. This can have a profound effect on our children’s potential. Steve Siebold, who wrote the book Rich Dad, argues that young athletes who play sports that the rich love have better networking opportunities. He says that having a rich dad exposes our kids to the world’s wealthier elite will allow them to make the best possible choices in life.
Robert Kiyosaki’s father
In his book Rich Dad, Poor, Kiyosaki reveals that his real life father is the inspiration for his own story. Kiyosaki’s father, Richard, never wanted to build large hotels and focused instead on catering to budget travelers. He pioneered the use of tool free telephone numbers and fax machines to reserve rooms. He also pioneered the practice of putting together air, room, and car packages. Today, his organization is run by his son Alan, who also happens to be Robert Kiyosaki’s father.
When Robert was in his mid-twenties, he was working at Xerox and heard about promotions, pay raises, and higher deductions. He realized that he needed to follow his rich dad’s example. He worked hard to build his asset column, made investments in the real estate market, and sold Xerox machines to make the money he needed to build his empire.
Robert Kiyosaki’s perspective on money
Robert Kiyosaki’s perspective about money comes from the early days of his life. He had two “dads”: one was a well-educated college graduate and the other didn’t finish eighth grade. Both struggled with money, but one eventually became the richest man in Hawaii. Kiyosaki often compares his two fathers and the differences they had in their upbringing and perspectives on money.
For example, when Robert Kiyosaki first started working, he used a credit card to pay for the down payment on a house. While financial experts argued this was unwise, Kiyosaki found that the money he invested went into a small investment that grew into a regular source of income. Kiyosaki uses the example of the bill collectors to motivate him to find better ways to generate income.
After graduating from college, Kiyosaki worked with Mike’s rich dad on his company. The two men spent hours in meetings with professionals and produced nickles. Their father eventually cut Kiyosaki’s pay, but not before they had met separately and explained that they had learned more about money than their father. Then they met with the wealthy father individually to discuss the lesson learned and he agreed to give them a pay increase.
