Introduction to Rich Dad Poor Dad:
“Rich Dad Poor Dad” is a book on financial independence written by Robert Kiyosaki. This book was was first published in 1997. Since then it has become a best-seller and has inspired millions of people around the world to change their perspective on money, wealth, and financial education.
The book is based on the Kiyosaki’s own life experiences. The basic theme of the book is that the author describes the lessons he learned from two “Fathers” –
- One is Kiyosaki’s biological father, who was highly educated but financially struggling. Although he had a degree and was intelligent but he could not put his skills to work and earn a good living.
- The second one is his best friend’s father, who was less educated, didn’t hold a degree but he was wealthy. The author learned a lot of things from him which were never taught to him by anyone before. So he has a very high regard for him and that’s why he calls him his Second Father.
The book contrasts the two “dads” and the differing approaches they had to money, work, and financial education.
Statistics:
Around 32 million copies of this book have been sold worldwide in different editions. Rich Dad Poor Dad is translated into more than 50 languages across the world and many bloggers have written posts about the book’s summary in different languages. This books is also a “New York Time’s Best Seller“
In our daily life we see many people working very hard, doing 9-5 jobs and even doing extra-shifts just to make a good amount of money so that they can make both ends meet. Rich Dad Poor Dad explains different ways in a systematic yet easily understandable manner to escape from this “Matrix” and make a handsome amount of money by adopting it’s ways.
Lessons from the book:
You can learn the following lessons by giving a read to this book:
- For most people what they earn from their profession is their income and they only depend on it to survive and their life. But on the other hand for rich people, their assets and their investments in different fields are their income
- The goal is not to get a job with good salary but to build assets.
- When you are earning from a job, take a percentage of your salary every month and invest it.
- You should have a little knowledge about everything regarding income and money. For example you should know a little about the tax laws, accounting, management, sales, marketing, writing and most importantly communication.
- Choose a field which encourages you learn more and expand your skills, so that you can grow while working there.
- See what other successful people around you are doing that is different from what you are doing. Take ideas and inspiration
- Do not invest your money haphazardly. First learn a little about where to invest so that you don’t end up losing your money.
- In the beginning invest a little only, which you know that you won’t be needing in the near future.
- Do not buy luxuries which you cannot afford. First make enough money and become financially independent, then you can buy whatever you have dreamt of.
- Build multiple sources of income. Do not completely rely on just one source or asset.
- Keep your aims high. Keep in mind that if Jeff Bezos can do that, you can do that too. If Bill Gates can do that, you can do that too.
Key features:
One of the key of points of this book is the importance of financial education. The “rich dad” taught the author that traditional education systems do not adequately prepare people for the real world of money and finance. He encouraged the author to think outside the box and to develop a different mindset when it comes to money. This includes taking risks, investing in oneself, and understanding how money works.
Another important theme of the book is the idea that building wealth is not just about having a high-paying job. It is also about having multiple streams of income. The “rich dad” taught the author that passive income – such as rental properties, stocks, and others. These can provide a source of income that grows over time, even while the investor is sleeping. The book also stresses the importance of being an asset, not just a liability. By investing in assets that increase in value over time, such as real estate or stocks, rather than spending money on liabilities like consumer goods that decrease in value.
Is Rich Dad Poor Dad worth buying ?
“Rich Dad Poor Dad” is a popular book that has received positive reviews from many readers who have found it inspiring and informative.
The book provides a very unique and different perspective on money, wealth, and financial education that is often not taught in traditional schools or by financial experts. It emphasizes the importance of financial literacy, the power of multiple streams of income, and the role of assets and liabilities in building wealth.
Ultimately, whether or not “Rich Dad Poor Dad” is worth buying depends on your personal goals, financial situation, and what you hope to gain from the book. If you’re looking to improve your financial literacy and change your relationship with money, broaden your mind and find new innovative ways to make money, this book can be a valuable read for you.
The book is written in a conversational and easy-to-understand style, and it is full of practical tips and real-life examples to help the reader understand the concepts being discussed. Many readers find it inspiring and empowering, as it provides a different perspective on money and wealth-building that is often not taught in traditional schools or by financial experts.
Where to Buy Rich Dad Poor Dad:
You can buy this book easily and change you life like millions of people already have :
- You can buy this book on Amazon
- You can also get it’s audiobook if you want to listen to it. Moreover you can get if free with Amazon Audible in your free 1-month trial. Read details about Amazon Audible here
- You can also get it for free with your Amazon Kindle membership and read the Rich Dad Poor Dad pdf
Conclusion:
In conclusion, “Rich Dad Poor Dad” is a must-read for anyone looking to change their relationship with money and improve their financial education. It provides valuable insights into the importance of financial literacy, the power of multiple streams of income, and the role of assets and liabilities in building wealth. By changing the way we think about money and wealth, we can create a more secure financial future for ourselves and our families.
One of my personal favorite quotes of Robert Kiyosaki in this book is:
“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.”
