Table of Contents
1. Introduction
This book shows how Investing means different things to different people and there is a huge difference between passive investing and becoming an active, engaged investor. Rich Dad Poor Dad is one of the most popular self-help books ever written.
It was written by Robert Kiyosaki, to let the world know how they can gain financial knowledge and live a life without worrying about money. This book is best for beginners who want to attain financial freedom.
2. About this book
The Author talks about the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you, it also gives the message “What the rich teach their children about money and poor doesn’t”. The author simple steps to become rich with the help of 6 simple and easy-to-understand chapters.
In this, the author is telling his story of when he was young. He refers that he had two fathers, his father, and his friend’s father. His father was a teacher and had a Ph.D. but he was financially struggling his friend’s father was not good at studies and dropped out of school but he was a rich man. He referred to his father as “poor dad” and his friend’s father as “rich dad’
This story is about what his “rich dad” taught him about money and how he can achieve financial freedom by building a passive income instead of doing a regular 9 to 5 job.
This book will change your perspective on money and how to earn it. It will challenge your beliefs and understanding about money (Assets and liabilities) and will tell you why some people become rich and some remain poor all their lives.
The author also challenges, the education system as they are teaching us in the same old way and how the school system is developing an employee mindset instead of a business mindset.
3. Positives about this book
This book is fairly easy to read and the way the author tells his story is very insightful. The author teaches us many things about money including how to handle it with.
The concepts are very easy to understand, and the author has told the most complex things about money with so much ease and simplicity that even a 10-year-old child can understand it.
Details about money are incredible, it can instantly change how one perceives money.
4. Learning form Books
There are 6 parts of financial literacy that you should focus on, according to Robert Kiyosaki.
- Accounting: is the ability to read numbers read – be it numbers from an annual report, or from your personal bank account.
- Investing: This is the science of money-making.
- Understanding the markets: At least, you should understand the basic rules of supply and demand.
- Understanding the law: Understanding the tax advantages and personal protection provided by corporations don’t be afraid to spend your money on education that will improve your knowledge and develop skills necessary to beat your weaknesses.
- The author spends many thousands of dollars throughout his life on seminars, books, and so on. And guess what? The returns from these investments are unmatchable! Investment in yourself. The author says Ignorant people often find this hard to do. They already know everything, and rather talk about what they know than try to learn something new.
- Listening is more important than talking. If that weren’t true. God would not have given us two ears and only one month.
5. Missing in this book
Despite having so many insightful stories and concepts about money, one thing that is missing from this book is what practical steps one should take. Well, the author discussed that in the last chapters but that is not enough to understand.
6. Who should read this?
A person who wants to become rich and wants to think like rich people should read this book. People who want to change their views on money, education, and the world should also read this book.
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