In this Rich Dad Poor Dad review, we’ll cover the author’s father’s advice to his son. Kiyosaki’s father was an example of a successful man, and he shared his advice with his son. He modeled many of the principles that Kiyosaki has taught his readers.
Robert Kiyosaki’s Rich Dad is the father of the author’s best friend. Like Kiyosaki, his father was a businessman who created thousands of jobs while maintaining financial independence. Kiyosaki learned a lot from his father, who represented the opposite view from that of most people, advocating work for a salary and money generation. Kiyosaki uses visual aids to help illustrate concepts, such as the difference between liabilities and assets.
Robert Kiyosaki grew up with two “dads.” One was well educated and earned a Ph.D. while the other never completed high school. While one struggled with money, the other grew up to be Hawaii’s richest man. Robert Kiyosaki often compares his two fathers to each other. In addition to their different approaches to money and work, both fathers had their share of financial struggles early in life.
Kiyosaki’s father influenced him to seek different kinds of work experiences. He graduated from the US Merchant Marine Academy in 1969 and went on to work for the tanker fleet of Standard Oil. But he left after six months and joined the marines. His goal was to learn more about international trade routes and how to lead people. He later said that managing people is the hardest part of running a business.
Kiyosaki’s father’s story inspired him to create the book Rich Dad, Poor Dad. His father urged him to make money as early as possible. He told him that if he didn’t get a raise at first, he would quit. He grew up reading a lot and started applying what he had learned from his father.
Summary of Rich Dad Poor Dad
Rich Dad Poor Dad is an acclaimed, popular book about personal finance. Its author, Robert Kiyosaki, is the son of a rich man and a poor one. The book explores the differences in their beliefs and habits as the author recounts his experiences with both parents. Although Kiyosaki’s father did attend Stanford, his own poor dad did not complete eighth grade. Kiyosaki believes that a high-income is not necessarily a prerequisite for becoming rich.
The book begins by showing the differences between the mindsets of the rich and poor. The poor dad, for example, had no idea that he would ever be rich, and he was obsessed with his job and its benefits – Social Security, sick leaves, company insurance, and vacations. He was caught up in the Rat Race.
The author goes on to explain how the value of a home does not always go up. Many people buy million-dollar homes only to find out that they can sell them for a fraction of that price. Kim’s parents were in this situation when their property taxes increased, putting a strain on their finances.
The book’s message is that knowledge and wisdom can lower investment risks. If you want to be rich, you have to learn about the financial world and make wise decisions. It’s best to start small and scale up. In addition, you’ll learn about five obstacles that will prevent you from becoming a rich man, and 10 philosophies that will help you unlock your financial genius.