Rich dad poor dad is written by Robert Kiyosaki. The book was published in 1997. The genre of the book is self-help and finance. Kiyosaki has a private financing and corporate training business Rich Global LLC. He is the author of the first financial education book Rich dad and poor dad. We present you the rich dad poor dad book review.
RICH DAD POOR DAD BY ROBERT KIYOSAKI BOOK REVIEW
The book is based on the story of two dads. There is a high comparison seen in them. Where one dad is having high degrees while the other dad is dropped out of school. The author has taught life lessons throughout the book. How a rich dad’s thinking and perspective help him make money while the poor dad does mistakes. The book is divided into 10 chapters. The first 6 chapter covers the two-third of the main topic and ideas of the book.
My favorite quote from the book is :
“Rich dad believed that the words ‘I can’t afford it’ shut down your brain. ‘How can I afford it?’ opens up possibilities, excitement, and dreams.”
In the starting chapters, the authors say that the reality is, the majority of rich people actually work really hard. But their approach is different as compared to other people. Rich people and people who desire to become rich, practice, and learn every day how to make ways for money to work for them. The low and middle-class people are working for rent. Kiyosaki also states that daily work is just a short-term solution to the long-term issue of generating prosperity and economic freedom.
Furthermore, The argument by the author is not how much money you make but how much you hold money.
He says that your asset is something that in the future produces value and can, later on, become the source of passive income. For example, A personal home is not an asset until it is adequately appreciated to pay for ownership costs. Owning rental buildings and lands, on the other hand, is an advantage since it can produce ample passive income to exceed the maintenance cost and funding of property.
The writer is of the view that if you want to get rich then the type of approach you should have is, First Pay off your debts and then stay financially healthy. The main problem described by the writer in the book, for the majority of the poor and the middle classes is being financially conservative. They have the thought that they should stick to their job. Just work and be in a safe zone. They don’t allow themselves to take a risk and step out of their comfort zones.
The book is a motivational guide and not an exact solution to the financial problems. Inventing money involves seeking openings or dealings and courage. Where other people do not have the expertise, experience, finances, or connections they need. Therefore, the writer introduces 2 types of investors:
The people who bring these packages are the ones who entrust their money to a manager or a developer. In this way, people invest their money. For example, if someone wants to buy a share in some company. He will put his money into a real estate fundraising company.
These are the people who look after their own investment. Check at the market for meaningful offers, and employ experts to handle the daily monitoring. Three aspects are in particular with skilled investors:
- Identify opportunities not found by others
- Raise funds for business
- stay in the company of other intelligent people and work with them
In conclusion, If we have to summarize the book in a word. I must say that rich people are not always born rich. The fact today in the United States is that nobody else wants to work and compete in the rat race to make money. The goal of the book is to motivate you and develop your own unique path to earn. The book offers an outstanding framework to create wealth by engaging in the real estate market for your own purposes.Winners are not afraid of losing.-ROBERT KIYOSAKI Click To Tweet
Rich dad poor dad by Robert Kiyosaki is an excellent guide to financial awareness. It will definitely change your perspective. and give you a clear-cut view of the basic principles for how to succeed. I must say that the book contains expensive experiences by the writer and very beneficial pieces of advice. This book is a must-read.
I hope, you like rich dad, poor dad book review. Tell me which review do you want us to do next?