What is the Difference Between Poor Dad and Rich Dad?

What is the difference between Poor Dad and Rich Dad

The main difference between Poor Dad and Rich Dad is that Rich Dad provides practical tips on how to build wealth. For example, he advises boys to spend wisely every day and to choose his friends wisely. Those simple actions can have huge impacts on his finances. He also recommends learning one new strategy a day and incorporating it into his life. This type of education is not available in formal schooling, so self-education is necessary to build financial literacy.

Robert Kiyosaki

Rich Dad and Poor Dad are two famous characters in the world of personal finance. However, both have different approaches to money. The rich dad creates money first and then uses it to purchase things. This is an important difference between the two. The rich dad’s approach to money is radically different from that of his poor counterpart.

The wealthy dad aims for financial independence and is willing to take calculated risks. The poor dad, on the other hand, wants security and safety. He will take calculated risks to earn the money he wants. This old-school view of money made sense in the 20th century. It meant strong growth and decades of employment. However, this is no longer the case. Moreover, pensions and job security with a loyal employer are rare. Also, a professional education does not guarantee security.

Robert Kiyosaki began to understand the difference between the poor and the rich father by observing the differences in their fathers’ finances. Both of them grew up in the same family, but their dads were in different circles. In their teenage years, they started to work together. They attended meetings with professionals and learned from each other. Eventually, they joined the Xerox company. The experience taught them how to deal with fear and how to become successful. They became one of the top salespeople in the company, and eventually went on to launch their own businesses.

Robert Kiyosaki shares the experiences of his fathers who had a different approach to money. He had one father who had a Ph.D. and another who finished only the eighth grade. The first had financial problems and the other had a wealthy father who grew rich in Hawaii. Both had different perspectives on wealth, but both had common experiences.

Robert Kiyosaki’s father

Robert Kiyosaki’s father was a successful businessman who lived just down the street from his son, Mike. They both worked long hours to build their empires – restaurants, a construction company, warehouses, and a convenience store chain. Their father was 6 feet tall and 200 pounds, 5 years younger than their son, and had a different ethic and work ethic than their son. He spent three years in the army, and gave large amounts of money to charities.

Robert’s father emphasized the importance of passion. It is an emotion that is fueled by love and anger. He argued that most employees work with their hearts instead of their heads, and are prone to exploiting themselves. As a result, employees often feel disappointed with their paychecks once taxes are taken out.

Despite having two fathers, Kiyosaki became fonder of his rich father’s wisdom as he grew up. He had dreams of success at a young age, and began his own small businesses. While he struggled financially early in life, he managed to make money and become the richest man in Hawaii.

However, the controversial relationship between Kiyosaki and his father was initially complicated. Kiyosaki refused to make his father’s identity public for thirteen years, citing a written agreement with the family. Eventually, Kiyosaki’s father gave him a number of people to contact and he arranged a phone conversation. The journalist contacted these people, but they declined to give their names to the press.

Robert’s father

The rich dad taught his sons how to become successful. He told them that anger is part of the formula. In fact, anger and love are a powerful combination. Moreover, they should not be afraid of expressing their feelings. This is the most effective way to learn. But most people only learn through books.

The book Rich Dad Poor Dad is divided into ten chapters plus the introduction. In this review, I will focus on the first six lessons in the book. Robert Kiyosaki’s two fathers shaped his life in very different ways. His biological father was very smart and educated and he believed in hard work.

The rich dad represents the contrarian view. He seeks financial independence and is bold in taking calculated risks. He works on a small number of activities that produce the best results. The traditional view of a rich dad worked better in the 20th century when the economy was growing and employment was decades-long. But now, a pension is not guaranteed, a job with a loyal employer is rare, and education is no guarantee of financial security.

As a kid, Robert Kiyosaki was taught by his father to work for others. He wanted to make money and buy things with his extra money. However, his ideas of money were very different.