The Rich Father, Poor Son theory is a common one and is the basis for the bestselling book by Robert Kiyosaki. But is the theory really applicable to you? The author offers some helpful advice in this article. His father and son also share some valuable lessons they learned from their parents. Read on to discover how they achieved financial success. What are the main lessons you can take from the Rich Dad Poor Dad book?
If you’re a student of wealth, Robert Kiyosaki’s lessons in Rich Father, Poor Father are important and applicable to your own life. As a young man, he was short on cash after the stock market crash. His father, a Ph.D. holder, had spent two years earning his undergraduate degree. He couldn’t afford to pay the full amount of tuition, so he decided to rent the house to a local professor. That meant he had about $3,000 per month to invest. After a few years, the market recovered and he sold the house for $95,000, giving him nearly double what he had invested. He used the money to purchase a 12-unit apartment complex in Hawaii and deferred the capital gains on it. Two years later, he sold the property for $495,000
In the book, Robert explains how to use money to make a living. When he was a youngster, he worked with his rich dad. They spent time meeting professionals and listening to financial experts. This taught Robert that he had far more financial literacy than his father, even though he had left school at thirteen. Similarly, he took time to keep a book and listen to professional speakers to learn how to make money.
Robert Kiyosaki’s father
A few months after his book Rich Dad, Poor Dave was published, Robert Kiyosaki was embroiled in controversy. While he was reluctant to reveal his real-life parents, he did provide the journalist with their contact information. Kiyosaki’s son agreed to keep the information confidential. However, he did not tell the public the names of his fathers.
This book is an educational story about the mindset differences between rich and poor people. The author shares his experiences and his own story, and also describes the mindsets of both. While he was a poor kid, he was also encouraged to work hard, but ultimately wanted money to work for him. After the book’s publication, he went on to be the best-selling author of all time.
Robert Kiyosaki’s father was a real-life role model, teaching him lessons towards financial independence. He also worked for free in a superette for a short time, where he developed a passion for comic books. This led him to start his first small businesses, and his early inquisitiveness paid off. As a result, he was able to build an empire that he later sold for millions of dollars.
Robert Kiyosaki’s son
Rob Kiyosaki, author of the best-selling book “Rich Dad, Poor Father,” is one of the most successful businessmen of our time. Like Warren Buffett, Robert Kiyosaki analyzed deals and tapped into his genius. His father, a wealthy man, taught him to share his knowledge, not his money, and he took those lessons to heart. The book recommends a few things readers should do to become successful.
One of the biggest obstacles to wealth is arrogance. Arrogance is the attitude that “what I don’t know doesn’t matter” and a lack of openness to learning new information. Many people are highly educated and intelligent but are still too closed to change their opinion. This is why so many people buy real estate or invest in real estate without learning the basics of the industry.
Rob Kiyosaki’s biological father was not able to teach him how to become rich. Thankfully, Kiyosaki’s best friend’s father, a successful businessman, was willing to teach his son about money and business. His dad’s financial success stems from his investments in real estate and small cap stocks. Kiyosaki took this advice and has become one of the most successful businesspeople in Hawaii.