Robert Kiyosaki’s father
“Rich Dad, Poor Dad” is a bestseller. The book is about Robert Kiyosaki’s experience growing up with two different fathers. One was a Ph.D. who had earned his degree in just two years. His other father was an eighth grade dropout who struggled with money. Despite their differences, they both influenced Robert’s life.
During the stock market crash, Robert Kiyosaki was short of cash. He had been holding his money in stocks and apartment buildings. He had about a million dollars to invest. He spent some of his money on a house he found at a bankruptcy attorney’s office. The house was for sale for $60,000 and he paid a $2,500 processing fee to the bank.
The rich dad told his son to work in multiple jobs to learn the business. His father taught him to become an executive in a company he hoped to expand. He also told his son to take a risk and work for free. Ultimately, Kiyosaki quit his job to pursue his dream.
The rich dad taught the boys to avoid being influenced by fear and greed. Most people are controlled by fear. Many parents are urging their children to get an education and secure a stable career. But when it comes to money, more money does not necessarily solve financial problems. Even if you win the lottery and earn a lot more, you can be broke again a few years later.
Robert Kiyosaki’s father’s perspective on money
Robert Kiyosaki’s father and grandfather were both influential figures in shaping his perspective on money as a young boy. While he learned from both, the two men emphasized different principles and approaches. For example, he equated the word ‘poor’ with being constantly in debt and struggling with money. He also emphasized that even wealthy men could be poor if they did not have the means to maintain their wealth.
At age nine, Kiyosaki and his friend Mike wanted to be rich. The father of Kiyosaki’s best friend, Mike, was building a business empire and agreed to teach his son how to make money. They took jobs at small supermarkets and missed softball games. This experience changed their perspective on money.
Robert Kiyosaki’s father was not the typical wealthy man. He had two fathers, one of whom had a Ph.D. while the other didn’t finish high school. Despite the differences, both men were financially struggling. Kiyosaki’s father’s perspective was very helpful to him.
Kiyosaki’s rich father advised him not to specialize in one area of business. He encouraged him to attend meetings and work in various areas of the business. He also taught him not to focus on a single aspect of building an empire.
Robert Kiyosaki’s father’s perspective on investing in real estate
During Robert Kiyosaki’s life, he had two “dads.” One was a Ph.D. who had earned his degree in two years. The other was a father who was the richest person in Hawaii. Robert often compared the two. Both had experienced financial struggles during their youth, but both had achieved financial independence.
Robert Kiyosaki was fascinated by his father’s approach to finances. Growing up, he was raised in an environment where he was exposed to wealth by watching his rich dad. His real dad had been a government employee, and had been struggling financially. After hearing his father’s advice, Kiyosaki resolved to become rich one day.
Robert Kiyosaki started off with small investments in real estate. He then traded up to larger properties. He started with one small condo in foreclosure and bought it with $10,000 less than the asking price. Three years later, he rented the property and made money off it.
Robert Kiyosaki’s father shared his thoughts about investing in real estate. Robert Kiyosaki’s father used to buy homes and sell them for a profit. He paid $45,000 for one property and rented it to a local professor. This way, he was able to earn $40 per month, even after expenses. Then, when the market recovered, he sold it for $95,000. He then used the money to purchase another property. The same way, he deferred his capital gains. The next real estate investment he made was a 12-unit apartment in Manhattan. He spent $300k on the property and sold it for $475k two years later.
As a child, Robert Kiyosaki learned how to analyze deals like Warren Buffett. He also discovered the power of putting your mind to work and to create wealth. He read many books and attended seminars to hone his financial skills and cultivated his financial intelligence. He also learned how to give away his knowledge to help others. This helped him build his wealth in real estate.