Probably the most controversial aspect of this book is whether it’s worth reading. The author says that it teaches the correct way to use and think about money. Today’s consumer society is geared toward the idea that more money is better – and the more money you have, the more things you can buy. This book, however, goes a lot further than that. It teaches how to use your money wisely and enjoy life to its fullest.
Robert Kiyosaki’s father
The father in Robert Kiyosaki’s Rich, Poor, and Middle Class series shares a similar story: he bought a small house in Portland, Oregon for just $5000, rented it out to a local professor, and made about $40 a month. When the housing market started to rebound, Kiyosaki sold the house for $95,000. The money he made from the sale went to buy a 12-unit apartment complex. He paid a bankruptcy attorney a processing fee of $2,500 and a quick sale of the house.
Despite his modest salary, Kiyosaki’s father was an inspiring figure in his life. He grew up in Hawaii with two “dads,” one well-educated and a doctorate, and one who did not even complete high school. Both fathers encouraged their sons to go to school and earn a degree, and they both worked their way up the corporate ladder. Although they had very different backgrounds, both fathers had the same goal of providing for their families and making a difference.
The rich dad emphasized that one must work hard, but not in the sense of earning a lot of money. Robert’s dad encouraged him to work in multiple areas and attend meetings. He wanted to learn every facet of building an empire. Eventually, he was able to buy a house in Hawaii and invest in another business. He continued to work, but his father’s advice paid off.
Mike and Robert Kiyosaki started a counterfeit nickel-making company in Hawaii when they were teens. They made plaster nickel molds from toothpaste tubes and sold fake nickles. Eventually, their father cut their pay and they started a new company. After a few years, they realized they knew a lot more about finance than their fathers. Even though they were still young, their father had learned how to deal with fear and be successful despite their lack of wealth.
A journalist approached Kiyosaki’s office and was told both good and bad news. Kiyosaki was scheduled to appear on Oprah in about a month. He had 300,000 copies of Rich Dad, Poor Dad audiobook, but his father would not be happy if his son’s father did not get his approval. The production team managed to get 300,000 copies to clients and bookstores.
After the success of the book, Kiyosaki changed the publisher of his Rich Dad. Plata Publishing, an imprint of Kiyosaki, now produces personal finance titles. Kiyosaki still takes nearly every interview he can get. He estimates that he has over 2,000 interviews since the book’s release. The Plata Publishing team has kept the book’s core message of financial literacy intact, though occasionally adding sidebars and callouts.
The father in Rich Dad, Poor-Dad is the inspiration behind Robert Kiyosaki’s success story. The book teaches readers how to use their money for wealth development. It also dispels the myth that “the rich are born rich” and explains how to invest in assets that produce income. Kiyosaki is one of the most well-received books on personal finance and investing.
The father in Rich Dad Poor-Dad teaches the differences in mindset between the rich and poor. While Robert Kiyosaki’s father in Rich Dad Poor Dad was extremely intelligent, his father was not able to support him financially. His father influenced his life, but it was not always easy. In the end, he became the most successful man in the world.
In Rich, Middle Class, the father in Rich Dad Poor-Dad wants to sell the entire company for cash. The father argues that 90% of companies fail within a year of going public. But the real rich do not pay taxes and aren’t required to spend money. Instead, they build income-generating assets and pay off debts. So, we should invest in the things that we enjoy most and pay taxes on only when we can afford them.