Rich Dad Poor Dad consists of 10 chapters and an introduction. I will focus on the first six lessons in this review. The author, Robert Kiyosaki, grew up with two influential fathers. His biological father, who was highly intelligent and educated, emphasized hard work.
Lessons learned from Robert Kiyosaki’s father
Robert Kiyosaki’s father taught him the importance of saving and investing. Robert grew up with two “dads”: one was a Ph.D. who graduated in two years, and the other a working man who struggled financially. Both men wanted their sons to get a respectable education and move up the corporate ladder. Both men also knew the importance of job security.
In order to make more money, Robert consulted his father. After working for two weeks at a low-paying job, Robert’s father told him to demand a raise of at least 25 cents an hour. He also told his sons that if they were not given the raise, they should quit and look for other opportunities. His dad also explained to Robert that the average person is stuck in a job they do not enjoy and is paid too little to keep.
In his book, Robert Kiyosaki shares stories of his father’s upbringing. In his childhood, he had an education, but he was not able to teach his son how to become wealthy. However, the father of his best friend was a rich man who had built an empire. Kiyosaki agreed to work with Rich Dad to learn how to build a business and make money. His father gave him a basic job at a supermarket, but he missed his softball games.
When Robert Kiyosaki bought his first home, he paid only $45,000 for it. He then rented it out to a local professor. He made about $40 per month after expenses. Eventually, the market recovered, and he sold it for $95,000. After three years of renting, Robert Kiyosaki used the money to buy a 12-unit apartment building. He deferred the capital gains on the house, and resold it for $495,000.
Rich Dad Poor Dad is the brainchild of American businessman and author Robert Kiyosaki. It has become one of the most popular books in the personal finance industry. It explains the difference between rich and poor mindsets and gives valuable personal finance advice. It has spawned numerous followers, and Kiyosaki has become a public figure. His videos on personal finance are extremely popular, and he has a YouTube channel with over 855k subscribers.
This book is considered inspirational, but there are also some controversial points in it. One of them is the suggestion that workers are underpaid because they don’t explore opportunities. Another is the advice that employees should not complain to their bosses. Rather, they should try to work for a good company that will provide security.
Robert Kiyosaki’s stance on the subject is controversial. While Kiyosaki was born into money, he became a socialite through nepotism. He claims that everyone has a price and highlights that this price is the main problem of our society. Kiyosaki’s views on the middle class and working class have caused controversy.
Kiyosaki’s personal financial experience and philosophies are a big part of his book. His father, a wealthy businessman, is an example of a successful businessman. His father taught him that the best way to invest is through an investment that grows over time. His father also taught him how to invest for retirement. Ultimately, the book demonstrates the importance of saving for retirement and building wealth.
Recommendations for readers
Robert Kiyosaki’s Rich Dad Poor Dad is a must-read book. It has been translated into dozens of languages and sold around the world. It’s been ranked as the #1 Personal Finance book of all time and explains how to develop your wealth and build a successful life. It debunks the myth that “the rich are born rich.” Robert Kiyosaki explains the difference between assets and liabilities.
This book is great for those who are living on credit or are fascinated with money. However, despite being good at explaining concepts, the book is a bit overly repetitive. After reading less than half of its pages, most people will already have the core concepts down.
Although Kiyosaki’s book is a classic, the new 20th anniversary edition includes a fresh take on money and the economy. It also features sidebars that take readers from 1997 to the present day. This update makes the book even more relevant to today’s readers. Although it may not be a perfect book, the message remains as relevant as ever. Kiyosaki’s straightforward writing style has gained many fans and is still a top-selling book.
For many, Rich Dad Poor Dad may be the most valuable book they’ve ever read. It sheds light on ways to make money work for you and stay out of debt. He shows readers how to avoid the rat race and start their own businesses to create a sustainable source of income.