Rich Dad Poor Dad is a best selling self-help book written by Robert Kiyosaki. It has helped millions of people worldwide to change their thinking about money and to take control of their financial future.
The book tells the story of two fathers and their very different approaches to wealth and success. The author compares their principles, ideas, financial practices, and level of accomplishment.
What Is Rich Dad Poor Dad?
Rich Dad Poor Dad is Robert Kiyosaki’s bestselling book that teaches you how to become financially literate. It has sold more than 32 million copies in 40 languages across the world, making it one of the best personal finance books ever written.
The book is all about how your life’s choices will determine your future. Ultimately, your destiny depends on how you spend your money and time.
In Rich Dad Poor Dad, Kiyosaki introduces the concept of “leverage.” This term is often used to describe debt, but it is actually a very technical term that refers to how you can use money to purchase assets and generate positive cash flow.
He also explains that your house is not an asset and can be a liability, even when you own it outright. This is a big lesson that a lot of people don’t realize.
What Is Kiyosaki’s Strategy?
Robert Kiyosaki is the author of Rich Dad Poor Dad and has a strong brand of financial education. He believes that most people don’t understand how to invest or make money work for them.
He teaches people to get out of debt and invest in assets. Instead of stashing away money in a low-yield savings account, Kiyosaki says that you can make money by investing it in assets that generate passive income or scale up.
To get started with this strategy, he suggests developing a side business or an online career. These side businesses can earn you a lot of passive income and can be used to grow your investment portfolio.
He also warns against investing in stocks because they are often volatile and risky. He recommends using gold and silver to hedge against inflation. He also says that high inflation is a sign that the economy is in a bubble and will soon crash.
Is Rich Dad Poor Dad Worth Reading?
Rich Dad Poor Dad is a great book to read for anyone looking to learn about investing and wealth creation. It will help you understand the difference between assets and liabilities, and will encourage you to think differently about money and wealth.
Robert Kiyosaki wrote Rich Dad Poor Dad in 1997 and it quickly became a bestseller. Today, it is considered one of the best personal finance books ever written.
In Rich Dad Poor Dad, Kiyosaki tells the story of his biological father (a poor man) and his friend’s father (a rich man). The two men had wildly different attitudes about money.
The rich Dad always made his money work for him, while the poor man was worried about it all the time. This inspired Kiyosaki to find ways to make his money work for him instead of worrying about it.
Is Rich Dad Poor Dad Worth It?
Rich Dad Poor Dad is a book that has been highly praised by many people, but some critics claim that the author doesn’t provide enough concrete advice to help readers improve their financial situation. Some also question whether the author actually lived the principles he advocates in the book.
Kiyosaki’s book is a good starting point for people who are interested in wealth development and improving their financial literacy. It teaches the difference between assets and liabilities, the real difference between a car and a house, and many other valuable lessons.
One of the biggest challenges people face is blaming other people for their financial problems, and Kiyosaki does an excellent job of showing how his two fathers shaped his thoughts about money. He explains how his poor dad was a conservative, well-educated man who worked for a pay check and benefits, while his rich dad was more entrepreneurial and focused on learning. He sprinkles examples of each dad’s financial moves throughout the book, and these differences are critical to understanding how to build wealth.