Robert Kiyosaki’s book, Rich Dad Poor Dad, is one of the most popular personal finance books ever written. It has sold more than 32 million copies worldwide.
The book focuses on how growing up with two fathers shaped Kiyosaki’s view of money and investing. It offers contrasting points of view on how wealth is created and how to make it work for you.
The Poor Dad
Many people work hard to earn a living but never get enough money to live comfortably. Ultimately, they end up in a rut and are trapped in the rat race.
In his bestselling book Rich Dad Poor Dad, Robert Kiyosaki compares two fathers: his own poor dad and his best friend’s rich dad. Both men were influential in his life, but they had very different views on how to manage money.
Kiyosaki’s poor dad was a university educated man who thought that education and getting a good job were the keys to success. However, he did not understand how to make money. He spent his time studying and pursuing a degree but was not able to make any money.
The Rich Dad
Robert Kiyosaki, the author of Rich Dad Poor Dad and a host of other financial education books, has made a name for himself as an expert on personal finance. His company offers workshops, seminars and online resources based on the lessons from his books.
One of the most famous books in the series is “Rich Dad Poor Dad.” It tells the story of Kiyosaki’s two fathers, his biological father (the “poor dad”) and his best friend’s father (the “rich dad”). Both men had conflicting views on money and investing.
Despite his differences, both men had a lot in common. They both learned to overcome barriers that prevented them from achieving their dreams. The key to success for both men was to be determined.
The Middle Class
The Middle Class – people who earn a middle-class income and have financial freedom – are a critical part of American society. Whether you’re middle-class depends on many factors, including your education, occupation, lifestyle choices, and where you live.
According to the most common income-based definitions, the middle class is comprised of people with an annual household income ranging from two-thirds to double the national median. For a middle-class family of three in Mississippi, this would mean an income between $38,130 and $113,820.
However, there are several problems with this approach to defining middle-class households. First, it does not take into account non-cash government benefits that can fluctuate from year to year.
Secondly, it does not include people who are not earning an income at all, such as those who have no savings or investments. Finally, it excludes many Americans who have very low incomes and are largely dependent on the federal government for their livelihood.
The Future
After 25 years since it was published, Rich Dad Poor Dad remains one of the best selling books on money and financial education. It has also helped shift people’s views on wealth and what it takes to become wealthy.
Robert Kiyosaki was raised with two fathers. One was very well educated and had a secure middle-class job while the other was not highly educated but was very rich.
The Rich Dad was a business owner and had many small supermarkets in Hawaii. He believed in financial education and taught his children how to make money.
To teach Robert and his friend Mike about making money, Rich Dad had them work in his grocery store for a few hours every Saturday. He paid them 10 cents an hour, which was a bargain at the time.
This was the first of many “real world” lessons that Robert would learn from Rich Dad. It taught him that most people are stuck in jobs they don’t like, or that they are afraid to take risks because they believe their money is limited.
