Rich Dad and Poor Dad Book review:
Beginning:
“Rich Dad Poor Dad” is a book written by “Robert Kiyosaki” in 1997, relating the story of his two fathers; One is his real dad although he is a poor man, the other one is his childhood friend Mike's Dad Whom he calls his rich dad.
The writer narrates his life story surrounding the viewpoints and ideas of his both dads about earning and investing money.
Rich Dad Poor Dad Book Review:
Central Idea:
The main theme or the central idea of the book is about making and putting together wealth. It clarifies the critical principles of establishing finance.
The significant point which the book has recounted is that many of us are earning relatively more money but we do not have the precise insight of utilizing and investing it in an applicable place.
The significant point which the book has recounted is that many of us are earning relatively more money but we do not have the precise insight of utilizing and investing it in an applicable place.
Contents of the Book:
The book “Rich Dad Poor Dad” starts up with the introduction followed by nine chapters and then the author has given it his final thoughts.
The book is considered a short one, consisting of 240 pages.
There are a total of six lessons described in the book.
The lessons are;
1: The Rich Don’t Work for Money.
2: Why Teach Financial Literacy?
3: Mind Your Own Business
4: The History of Taxes and the Power Of Corporations
5: The Rich Invent Money
6: Work to Learn __ Don't Work for Money
Rich Dad Poor Dad Book Summary:
The hereunder is a summary of the book Rich Dad Poor Dad; the author narrates his own experience.
He claims to have had two fathers, one rich and one poor.
Both men were happy and satisfied with their lives, however, both had different point of views about lives and fortune.
His real dad was well educated and sensible man, working for the government and earning considerable income but still he had to pay bills and debts.
The other one had not even finished college but yet he left millions of dollars to his family.
Kiyosaki writes Poor and broke are solely distinct terms. Poor is permanent whereas broke is momentary.
It is also acknowledged that people's lives are always influenced by two feelings; fear and greed.
They have the fear of not having money and the greed/desire of having more money to acquire better existence.
He claims to have had two fathers, one rich and one poor.
Both men were happy and satisfied with their lives, however, both had different point of views about lives and fortune.
His real dad was well educated and sensible man, working for the government and earning considerable income but still he had to pay bills and debts.
The other one had not even finished college but yet he left millions of dollars to his family.
Kiyosaki writes Poor and broke are solely distinct terms. Poor is permanent whereas broke is momentary.
In the 1st lesson, the writer declares the low and middle-class people struggle their whole life to make money, unlike the wealthy and first-class people who have money to work for them.
It is also acknowledged that people's lives are always influenced by two feelings; fear and greed.
They have the fear of not having money and the greed/desire of having more money to acquire better existence.
The 2nd lesson insists that it’s not how much money you earn, it’s about how much money you save.
It is essential to understand the distinction between assets and liabilities. The rich people maintain assets whereas the poor middle class buys liabilities and they think of them as assets. Assets develop earnings whereas liabilities create expenses.
The poor ones have the concept to study, work hard, get a secure job and earn money. On the other hand, the rich ones think that school or academic study never teaches you about making money.
Lesson 3rd has given the idea of establishing your own business although keep doing your existing job also.
Lesson 4th is about the taxes and the power of companies.
The government has organized taxes and given the poor people the impression of taking taxes from rich ones. But in reality, the rich have the confidential insight of protecting themselves from paying taxes and the poor ones are paying all the taxes.
The lesson 5th have enlightened the innovation of money by rich people. Financial intelligence when affiliated with self-confidence, outcomes will be financial independence.
One must have the ability to see the changes with the broad changes the average people were not able to see and accordingly the result will be a favorable fortune.
Ø In lesson 6th, Robert Kiyosaki has clarified that according to his poor dad better job was everything to earn money. Rich dad was an admirer of learning. To him, learning was everything.
That’s why Kiyosaki has written if you want to become financially safe, you work only for learning not for money.
Overcoming obstacles:
The mentioned five barriers are the main reasons why the poor can’t make money as rich.
1: Fear
2: Cynicism
3: Laziness
4: Bad Habits
5: Arrogance
Review of Rich Dad Poor Dad Book :
Review of the book Rich Dad Poor Dad is;
Rich Dad Poor Dad is surely an acceptable book for those who are struggling for becoming financially stable and safe.
Kiyosaki has compared the beliefs of his rich-poor dad about making money and fortune.
You Will learn how to oversee various challenges while struggling financially. You will find out how to manage money when you start earning.
The insights of the book are immersing. After reading this book, I am sure you will start observing life from a different perspective.
The book has the mastery of changing the mindset and lifestyle of thousands of people around the world.
If you enjoy reading, it will be worthwhile for you to read this book. So, read the book Rich Dad Poor Dad as soon as possible.
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