Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! is a book in which Robert Kiyosaki shares the secrets of increasing one’s financial independence and financial intelligence. Summary Of The Book In the book Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Robert Kiyosaki advocates financial independence through owning businesses, investing, and real estate. He also talks about increasing one's financial intelligence. What makes somebody rich? Is it hard work that matters the most? Or does one need to make the right financial decisions at the right time to be rich? This book answers these questions with the help of six easy to apprehend learn lessons. Written in the style of a set of parables, it is based on the real life of the author. Robert Kiyosaki takes the reader to his own childhood that he spent in Hawaii. He promotes the philosophy of wealth creation and emphasizes on purchasing income generating assets. To prove his point, he offers real life examples and relates his own story in which he had two people who influenced him the most. One was his real father – an educator who worked hard to make money, and the other was his father’s best friend – a real estate tycoon who is the Rich Dad of the book and is extremely successful. His biological father, the Poor Dad of the story, bought consumer goods for his family’s satisfaction and had to remain financially dependent for his entire life. The Rich dad, on the other hand, used his money to create more money-making assets. And this is the attitude that the author highlights throughout the book and says is the basic difference between the poor and the rich. He values the ownership of high value assets more than being just an ordinary employee. He provides a new look at an old financial mindset. This book claims to teach people how to become rich without requiring a high income and take control of one’s financial future. The book remained on The New York Times paperback ‘advice’ chart for 100 weeks. It has sold more than 26 million copies. Robert Kiyosaki, a millionaire himself, teaches what kids need to be taught about money and how even poor parents train their kids to be rich someday! About Robert Kiyosaki Robert Kiyosaki is an internationally acclaimed American author, motivational speaker, investor, financial commentator, and businessman. Other books written by Kiyosaki include The Business Of The 21st Century, Rich Dad's Cashflow Quadrant: Guide to Financial Freedom, Rich Dad’s Guide To Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!, and Retire Young Retire Rich: How To Get Rich Quickly And Stay etc. Born in 1947, he was born in Hilo in Hawaii. He graduated from the U.S. Merchant Marine Academy in New York. Today he operates the Rich Dad Company and Cashflow Technologies, Inc. He was a helicopter gunship pilot and was presented with the Air Medal. He took retirement in 1997 and operates various business ventures and other investments. He has invested in many business ventures like Mining, Real Estate, Silver and Gold trading, Oil drilling and a few more.
Written by Robert Kiyosaki and Sharon Lechter in 1997, Rich Dad Poor Dad is based mostly on Kiyosaki's young days spent in Hawaii. Enriched by Kiyosaki’s personal experience and the teachings he received from his rich dad and poor dad, the book highlights different attitudes towards money, work and life.
Framed around six main teachings and lessons, the book is mostly a self-reflection. Apart from the financial benefits, the book also describes and highlights the teachings he got from his poor dad, i.e., empathy and responsibility towards society.
Described as a personal finance book, it has not only challenged, but has also changed the way people think about money. The book talks about Kiyosaki’s background, his business ventures and investments and variation between possessions and liabilities and what importance they both have in terms of starting and owning a business. It also sheds light on the teachings given by rich to their kids, which is usually missed by poor as well as the middle class parents and why it is important to have financial literacy over and above all.
It also provides impetus on doing work for learning and not for earning and teaches the importance of investing and building business. This path-breaking book also showcase how one must be prepared to take action and risk and communicates the idea of how one’s primary residence is a liability and not an asset. It communicates the importance of intelligence and literacy in terms of finance and how financial and entrepreneurial skills play a vital role in the success. How to use power and prosper with the help of investment skills and why it is important to possess investment skills are also written in clear and crisp words in this book.
The book also talks of the importance of investment and free enterprise and urges the prospective investors and businessmen to learn from others, especially from rich people and generate new ideas to excel and succeed in life.
Originally published in 1997, it was also selected commercially. Termed as New York-Times bestseller, the book has been a boon for management and financial aspirants.About the Authors
A successful American businessman, motivational speaker, radio personality and self-help author, Robert T. Kiyosaki wears many hats. A well-known writer who can inspire readers with his words, his book Rich Dad Poor Dad advocates the importance of financial independence and is arguably based on his own life.
|Author||Robert T. Kiyosaki|
|Binding||Mass Market Paperback|
|Number Of Items||1|
|Number Of Pages||274|
|Publisher||Perseus Books Group|
|Studio||Perseus Books Group|
|Legal Disclaimer||Rich Dad Poor Dad is a 1997 book written by Robert Kiyosaki and Sharon Lechter. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ) to improve one's business and financial aptitude. Rich Dad Poor Dad is written in the style of a set of parables, ostensibly based on Kiyosaki's life.|