While there are many books out there about money, Rich Dad Poor teaches a different perspective on money. Kiyosaki recounts his first job as a child, and discusses the lessons he learned from it. After all, most people start out as employees. We always make money for our employers, but we never decide how much we’ll earn. In addition, we’re never guaranteed a job.
“Rich Dad, Poor father,” a line from Robert Kiyosaki’s “Rich and Poor Dad” may have been a godsend for me, especially in my current financial situation. This story tells me how to make money by being willing to work for less than what you’re worth. It also helps me realize why many people settle for less than what they’re worth because of fear. This fear is what controls our emotional responses to money and makes us slaves to our jobs.
After the crash, Robert Kiyosaki bought a house for only $45,000 and rented it out to a college professor. That rented payment paid off the mortgage. A year later, the real estate market recovered, and he sold his house for $95,000 – a nice profit! Kiyosaki then used the money from his house sale to buy a twelve-unit apartment. He deferred his capital gains and paid just over $70,000 for the house. Kiyosaki sold it for $450,000 in two years, and he owed only $2,500 in processing fees.
Robert Kiyosaki’s father
In Rich Mom, Poor Father, Robert Kiyosaki shares the story of his biological father, who got a degree from a top university and spent the rest of his adult life paying off student debt. His story parallels the life of a friend, whose father didn’t complete high school but went on to become very wealthy and his own boss. However, the fathers of Robert Kiyosaki were not the same and their approaches to money and work were far different.
Rather than giving financial advice to the young Robert, his father encouraged him to work for free. According to Rich Dad, doing this would train his mind to see opportunity, rather than frustration. He even recycled old comic books from the supermarket and opened a comic library where other kids could borrow them. Rich Dad was right; wealth does not solve financial problems. He says that more money is not always the answer.
Robert Kiyosaki’s financial IQ
Many people are interested in making quick money, and they would benefit from increasing their financial IQ by learning more about the financial industry and implementing his recommendations. Although the book may be lengthy, Kiyosaki explains how to build a solid financial foundation and a wealth management system. The author emphasizes the importance of understanding money, its psychology, and the power of our financial environment. The book is a must-read for anyone looking to improve their financial IQ.
One of the main points of the book is to teach you how to become a smart entrepreneur. The book covers the basics of personal finance, which are crucial for achieving financial independence. In addition to financial IQ, it covers money management, investment, and credit. Robert Kiyosaki has a track record of creating financial products and courses. His success can be attributed to his ability to teach others about money and finance.
Robert Kiyosaki’s advice in Rich Dad Poor Dad
The first part of the book describes Kiyosaki’s early life. His father, Mike, offered to teach the young Robert Kiyosaki the secrets of making money. As a child, he struggled with money, working for ten cents an hour and making very little. Later, he was able to become one of the richest men in Hawaii. Kiyosaki relates his experiences in Rich Dad Poor Dad in an entertaining and relatable manner.
When Robert was in his mid-twenties, he was working at Xerox. His bosses would often talk about promotions and raising the salaries of employees. Robert realized that he was gaining financial literacy, and he worked harder selling Xerox machines than his father. However, his salary was dwindling each year, and he was unable to invest it.
Robert Kiyosaki’s influence on the book
Robert Kiyosaki grew up with two “dads.” His biological father was an eminent Ph.D., who finished his undergraduate degree in two years. His other father didn’t finish high school and struggled with money until he became the richest man in Hawaii. Robert Kiyosaki often compared these two fathers, who both struggled with money in their early years.
As a kid, Robert Kiyosaki, then known by the pen name Bob, lived in Hilo, Hawaii. His father was an engineer who taught him about engineering. Kiyosaki went on to own convenience stores and become a speaker for the Money and You organization. He says that Fuller was his best teacher. Robert Kiyosaki’s influence on Rich Dad Poor Dad came from his own experiences.