Rich Dad Poor Dad is a must-read for anyone who has ever struggled with money. It is a great guide to achieving financial independence, and it also has some valuable life lessons. The book is based on the experiences of Robert Kiyosaki’s father, and his advice is applicable to every situation.
Robert Kiyosaki, a motivational speaker, investor, and entrepreneur, has changed the way millions of people view money. Though he experienced major financial setbacks and was twice bankrupt, Kiyosaki has an estimated net worth of over $80 million. He is the author of 26 books and is best known for Rich Dad, Poor Dad.
The book’s lessons are rooted in the philosophy that a rich person learns from his poor counterpart. In Rich Dad, Poor Dad, he teaches that the road to financial freedom is filled with major behavioral changes, and that those who are rich do not rely on any secret formula. Wealth building is a result of studying the habits of successful people and emulating those habits.
Kiyosaki shares a personal story of two fathers, his biological father and his childhood best friend Mike’s rich father. Both fathers were influential in the author’s life, and they learned from one another. Robert’s rich father’s approach to money made more sense for him than his poor dad’s.
A rich dad teaches his poor son how to negotiate with his boss. He once offered to hire his son to wait tables for 10 cents an hour and a half an hour every Saturday. However, the father was reluctant to give the employee a raise, and Mike’s dad was able to negotiate a pay hike. Fortunately, Mike’s dad agreed and the two began a series of lessons.
Robert Kiyosaki also shows how to play the investment game smart. After all, the rich understand the power of their company structures and tax code, and use all legal means to minimize their tax burden. For example, he and Mike started a counterfeit nickel manufacturing company in 1956, and the father foiled the plan. The two had about a million dollars to spend.
Another lesson from Rich Dad Poor Dad involves limiting your liabilities. The most important thing is to limit your liabilities, and build your assets. The best way to achieve financial freedom is to grow your assets and reduce your liabilities.
Robert Kiyosaki’s father
If you’re reading Robert Kiyosaki’s Rich Dad, Poor Dad, you’ve probably been told to be an entrepreneur by his father, Mr. Kimi. However, his father’s advice prompted him to not specialize, but instead to attend meetings and work in different areas. He wanted to make sure Robert understood all aspects of creating a successful empire.
As a young boy, Kiyosaki and his friend Mike dreamed of becoming rich. Their classmates were rich, and they wanted to become rich, too. Eventually, they found their mentor in their best friend’s dad, a rich man who was building a business empire. After Kiyosaki’s father found them melting toothpaste tubes to create counterfeit nickels, he convinced them that it was a terrible idea and that it was against the law. Their father gave them a job at a small grocery store, but they missed their softball games.
In Rich Dad, Poor Dad, Robert Kiyosaki’s father, Richard Kimi, owned multiple businesses in the local area. He taught his son that his wealth was not dependent on someone else giving him a job. In other words, he learned that you should make money for yourself, not someone else.
Rich Dad Poor Dad has been a best seller in the personal finance sector. It has been criticized by some, but it has sold over 32 million copies. The book is about Kiyosaki’s childhood and the relationship he shared with his father.
Robert Kiyosaki’s father was an important influence in his life. In addition to teaching his son about money, Rich Dad stressed that it was better to learn through experience than from books. Learning by doing rather than studying is the most efficient way to learn. Most of us absorb education through books, but the truth is that the best way to learn is through experience. His father taught his two sons to become successful in life.
RK’s father taught his son about money by purchasing stocks. He gave his son $3,000 to buy a car, but his father didn’t want him to do it directly. He started learning to invest in the stock market and eventually made millions. He also had an eye for predicting the crash in the market.