The first lesson in What Is the Difference Between a Poor and a Rich Father? is how to distinguish an asset from a liability. Dad #1 doesn’t understand that a house is an asset until it is rented out. But a house is also a liability if it is lived in. This is why a poor dad should be adamant that his own home is his most important asset.
Rich Dad prefers to specialize
Robert Kiyosaki’s rich father advocated not specializing. Instead, he encouraged Robert to work in several areas, attend meetings, and learn as much as he could about how to build an empire. This approach allowed him to build his wealth while also becoming a better leader. The results of this approach are obvious. Rich Dad emphasized education over money, and he’s continued to do so.
Robert Kiyosaki’s father is poor
It’s a common misconception that the book “Robert Kiyosaki’s Father is Poor” is not for the incredibly wealthy. While the book does give valuable advice for those who want to make money, the author’s own background is not a model for success. While he was born in Hawaii and has two fathers, one was well educated, and the other didn’t complete eighth grade. Despite the differences in their backgrounds, both fathers encouraged their sons to get a good education and work their way up the corporate ladder. While these two fathers didn’t have a great education, they both were successful, and both values were valuable for Kiyosaki.
Growing up in a poor household, Robert Kiyosaki had a hard time establishing a stable income. His father told him that if the job was not a good fit, he should demand 25 cents per hour. He also promised to quit if the boss did not give him a higher wage. He finally received the raise he needed, and went on to earn over $100k from his first job.
In his book, Robert Kiyosaki discusses how his friend’s dad, whom he calls Rich Dad, had a similar work ethic as his own. He believed in the power of financial education and understanding the ins and outs of money. He eventually became a millionaire, despite being a high school dropout. This book also reveals some interesting insights into how rich people achieve success.
Robert Kiyosaki’s father shares anger with his father
When Kiyosaki was nine, he and his friend Mike were trying to get rich. Their father found them melting toothpaste tubes to make counterfeit nickels. His father told the boys that it was illegal and that Mike’s dad knew how to make money. But when he asked them what they were doing, they replied that they didn’t have any money but they wanted to become rich.
After graduating from college, Robert Kiyosaki joined the Marines and learned valuable business skills. He then joined Xerox, where he overcame his fear of rejection to become one of the company’s top five salespeople. He left Xerox to form his own business and has since written books about how to overcome fear. Despite this, some critics argue that Kiyosaki’s philosophy is not for everyone. For people who are apprehensive about taking risks, Kiyosaki’s advice does not offer a solution.
Although Kiyosaki’s biological father was well educated, he was not capable of teaching his son how to become rich. Fortunately, his best friend’s father, or Rich Dad, had a business that Kiyosaki could emulate. Kiyosaki contacted Rich Dad and he agreed to teach him how to make money. After a few months, Kiyosaki was making good money. His dad even let him skip softball games for a few weeks so he could spend the money on things he wanted.