I’m going to be completely honest; reading is not one of my most favorite hobbies, nor something I’m very passionate about. I find it slightly difficult to become absorbed in a book, and this may be because I become distracted quite easily, or because I haven’t read many books that are interesting enough to captivate my attention. However, this book that I am about to review is a different story. When I began reading this book, I could not find it for me to put it down. This book has so much valuable information, and I feel as though every young adult should be aware of this information so they can become more financially literate, This book changed my mentality and in result assisted me with my finances.
Rich Dad Poor Dad: Book Analysis
Rich Dad Poor Dad is a widely known finance book written by Robert Kiyosaki. In this book Mr.Kiyosaki talks about the mindsets of his “poor dad” and his “rich dad” how they both instructed him on the topic of reaching success, using different approaches and how all of this affected him and shaped his monetary thoughts, and helped him reach success through investing and business building.
To me this book was a comparison between the valuable things that the Rich teach their children about money versus the typical “get a good job” that many poverty-stricken individuals use with their children, this seems to happen because most of these individuals are financially illiterate and therefore why they are poverty stricken.No, the author does not have two fathers, this is merely figurative language. The poor dad in this book is Kiyosaki’s biological father; the “Rich Dad” is the father of a good friend of the author, essentially the “Rich Dad” is his mentor. Kiyosaki states that he has learned valuable lessons from both of them, but at a young age he came to the conclusion that the teachings of his “Rich Dad” were a lot more accurate. He goes into detail about his biological father s “formula for success” which unfortunately is something we are all too familiar with “do good in school, graduate, work for a good company, the problem with this is many of us know how to make money but do we know how to manage it, is the real question.
There are many insightful points made in this book. Some of the key points made in this book are: Kiyosaki explains how the poor or middle-class work for money, by trading their time in exchange for it versus how rich people make money work for them, by purchasing assets and having multiple streams of income. This is very true, as you see most poor people only have one source of income; their job, while rich people often have a few, including (stocks, bonds, cryptocurrency, real estate, precious metals, businesses that don’t require your presence). Kiyosaki goes on to explain that in order to acquire assets, you must obviously know the difference between an asset and a liability, According to this book, the belief that your home or your car is an asset, is wrong, this is called financial illiteracy, which is also a very big point Kiyosaki makes in the book, the fact that so many people are poor or struggling due to their lack of financial intellect, we must educate ourselves financially in order to be successful.
"This book was a comparison between the valuable things that the Rich teach their children about money versus the typical “get a good job"
Rich Dad
Poor Dad
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