The first lesson of Rich Dad Poor, as the title implies, is that a house is not an asset. Unless it is rented out, a house does not generate income. It is therefore a liability, and dad #1 should learn how to treat it as such. He should also learn how to deal with debt, as a debtor will often use his money to pay off credit card debts.
Rich Dad is a poor dad
The 1997 book Rich Dad, Poor Dad was a huge hit. It teaches individuals how to achieve financial independence by building assets, starting businesses, and enhancing their financial intelligence. It is based on the principles of investing in real estate and starting a business. The authors also recommend educating parents about finances and increasing financial literacy. In this review, we’ll discuss the book’s main points and how you can use them to achieve financial independence.
The book focuses on the first six lessons of the book. Robert Kiyosaki, the author, was raised by two influential fathers. His biological father was a college graduate and a businessman. His other father never finished high school. While the author’s father modeled a hardworking and financially successful lifestyle, his best friend’s father never finished high school, and was left nothing but a bank account.
Poor dad wants to learn how money works
Robert Kiyosaki, the author of Rich Dad, Poor Dad, has two dads: one who is wealthy and one who is poor. Both of them had different views on money, but both believed that one should learn how to manage money and be rich. Rich dad wanted his son to go to college and get a respectable degree, while poor dad wanted to work his way up the corporate ladder. Kiyosaki was a bit skeptical at first, but his experience helped him realize that he needed to learn how to invest his time and energy in the right way.
As Robert grew up, his father explained to him that he was not paid enough for the job he was doing. Although Robert wasn’t happy with it, he trusted his dad and didn’t question his parents’ decision. He also started looking for opportunities and found one in a comic book library. He used the money he made from this library to build a business. Now Robert makes a good living as a comic book illustrator, thanks to his hard work.
They don’t work for money
If you are looking for money making tips, the book Rich Dad, Poor Father by Robert T. Kiyosaki is one of the best. It tells you how the rich aren’t working for it, but instead, generating cashflow through other sources. It also provides tips on how to become rich. You don’t have to be the next Bill Gates or Mark Zuckerberg – even a nine-year-old can do it!
“Poor Dad” was based on the traditional view of how people make money. The poor dad was preoccupied with his job tenure, Social Security, vacations, sick leaves, company insurance, salary increases, and promotions. He was stuck in the Rat Race. While his son would eventually become rich, his dad remained poor. And so it went until his son was forced to choose between working for money or earning money.
They don’t negotiate for money
“Rich Dad, Poor Father” is the most famous book written by Robert Kiyosaki. It was written as a warning against the trap of a middle-class lifestyle. Rich people buy assets, not work for them. As Robert learned, he would never make enough money to buy himself a house or buy his dream car. But if he could have, he would have, too.
The story revolves around two young boys who are asked to work for the rich father without being paid. Rich Dad wanted them to earn their own money, but didn’t want to give them a penny. They noticed some comic books lying around the shop. Despite not getting paid, the boys were determined to earn a little money. The boys had the idea to start their own business. After all, they had the knowledge and the opportunity to succeed.
They blame the economy
The book Rich Dad Poor Father, written by Robert Kiyosaki, has a similar theme: the economic situation is bad and there’s a crisis on the horizon. Kiyosaki points out that the U.S. economy is in a slump and the financial markets are about to crash. While the book’s author does not blame the economy, he does argue that the economy is not as healthy as it is being made out to be. He also says that the economy is prone to cyclical slumps and the U.S. economy is not strong enough to sustain such a long-term slump.
Robert Kiyosaki points out that the value of a home does not always rise. Some people buy million-dollar homes and end up selling them for much less than the original price. As a result, employees often feel disappointed when their paychecks after taxes are deducted. Kim’s parents also found themselves struggling to make ends meet after tax season when property taxes were raised. The book teaches people to avoid this and be successful by focusing on passion and a positive attitude.