Rich Dad Poor Dad by Robert Kiyosaki

Rich Dad Poor Dad book summary

In Rich Dad Poor Dad, Robert Kiyosaki explains how his father lived a life of poverty and became a millionaire. As a poor dad, he never thought he would become wealthy. He was so preoccupied with work-related things, such as Social Security, sick leaves, and vacations. He also worried about getting raises and promotions. As a result, he was stuck in the “Rat Race.”

Robert Kiyosaki’s father

Robert Kiyosaki’s father played an important role in his sons’ life. He was not always paid for his services, but he insisted that they learn about money. At the time, Robert didn’t like this but he trusted his father and was willing to learn.

Robert Kiyosaki grew up in Hawaii in the 1950s. His biological father was a Stanford PhD who followed traditional career thinking. Kiyosaki’s father encouraged him to get a good education, work his way up the corporate ladder, and value job security.

During the time of the stock market crash, Robert Kiyosaki was short of cash. He had some money in the stock market, but little cash. So, he started looking for properties. Eventually, he found one that was under his budget. Kiyosaki used the money to purchase a twelve-unit apartment building. After deferring the capital gains, he spent $200,000 on the property. Two years later, he sold the apartment for $495,000.

While working with his father, Robert also learned about taxes. While his father was in his early twenties, his father was already working and holding meetings with professionals. He was a successful real estate broker, tax accountant, and banker. He was also in a position to advise other people. Ultimately, the author believes that fear of taxes and ignorance of taxes are the biggest obstacles to wealth building.

As the son of a successful businessman, Robert Kiyosaki was inspired by his father’s example. His father spent many hours building his empire. He owned several convenience stores, restaurants, and a construction company. He was six feet tall and weighed about 200 pounds. Kiyosaki was not much younger than his father and had different values. He served in the Army and gave to charities.

Robert Kiyosaki’s father is a Japanese American who was born in Hawaii in 1947. He attended Hilo High School and later went to the United States Merchant Marine Academy, where he was commissioned as a second lieutenant. His father emphasized that he should be taught how to invest. As a result, he learned how to invest in stocks.

The book was first published in 1997 and has become one of the best-selling financial books of all time. The book teaches people how to build wealth through a mindset of financial education. It also teaches how to manage risk. Kiyosaki’s father modeled many of the strategies that are recommended in the book.

While there have been some critics of the book, it has sold over 32 million copies worldwide. The book teaches personal finance and the importance of understanding the difference between working for money and working for it. The message of the book is not only for the aspiring businessman, but for the father as well.