Rich Mom Poor Dad Book Review

Rich Dad Poor Dad book summary

The Rich Mom and Poor Father philosophy was supposedly taught by Robert Kiyosaki’s father. Kiyosaki learned from his father who was an independent, wealthy merchant. Nevertheless, this mindset was not universally shared by his fellow workers. Rich Dad argued that the middle class and poor work for money instead of working for it. This is a fundamentally false theory. However, this theory was later contradicted when his father showed him the opposite.

Rich Dad said that the poor and the middle-class work for money

Many of the rich people have a different approach to money than the poor and the middle class. The poor dad worked to pay his bills, whereas the rich dad made money work for him. This simple difference in approach has led to a difference in approach to money and the difference between the rich and the poor is vast. This article will explore some of the major differences between the two. The main difference is in how these people use money. The rich use their knowledge and assets to legally pay less taxes.

While the poor dad works hard for his money, the rich focus on assets and not on working for more income. While assets bring money, they also cost money. A car costs money to maintain and depreciates in value over time. The same applies to businesses that do not have a physical presence. They are assets, but they are worthless without a physical presence. However, the rich invest in businesses that are not tangible.

The author of Rich Dad, Poor Father says that both fathers are correct about the differences between the two. In this way, they help children to develop financial literacy. The author says that while building an empire state building requires a deep hole and six inches of concrete, constructing a suburban home requires a 6 inch slab of concrete. Essentially, the difference is in the amount of money an asset puts in a person’s pocket and what it does for them.

Rich Dad’s father taught Robert Kiyosaki the opposite

The rich father in Rich Dad Poor teaches his son how to make money by using the power of the mind. Robert Kiyosaki, a young man, volunteered to help his father at the superette, but was paid only 10 cents per hour. This did not sit well with his dad, and he offered to teach the boys how to make money instead of simply paying them. He waited three weeks for the offer to materialize.

As a teenager, Robert worked for the rich dad’s company, attending meetings with various financial professionals. When he was older, Robert spent time reading financial books and attending meetings with professionals. This helped him understand that he had a higher level of financial literacy than his father. His father had stopped school at thirteen, and now he supervised the financial education of his peers.

After learning the opposite way, Robert’s father started to realize that he had to change his behavior. He encouraged his son to work constructively instead of simply chasing money. The rich father wanted his son to understand that he was responsible for his own success, and he was not going to leave it up to anyone else. This mindset helped him build his asset column, invest in Hawaii real estate, and even sell Xerox machines to supplement his income.

Rich Dad’s father was a highly independent wealthy merchant

Robert Kiyosaki, the author of Rich Mom Poor Dad, was born poor and had two influential fathers. His biological father worked in the government and was highly intelligent, but he struggled with money and never achieved financial independence. His father did not share his success story and had trouble paying bills, but his real father was a highly independent wealthy merchant who became wealthy himself. His father modeled how to use money for wealth development.

Robert Kiyosaki’s experiences with his own father helped him to write Rich Mom, Poor Dad. He was fortunate to have had two fathers. The book compares the mindset and habits of rich and poor men. He attributes his acumen to his conversations with his rich dad. His contrasting personal experiences show his pro-capitalist stance. The book is highly recommended.

The author also includes many videos and books on the subject of money and finance. His website includes a wealth building cash flow game for kids, and there are articles and videos for adults as well as kid-friendly activities. The site also has a “Rich Dad friend” or advisor. It’s easy to get sucked into the “what if” trap when you’re constantly reminded of your shortcomings. If you let cynicism from others control your decision-making, you’ll end up missing out on opportunities.

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