ABOUT THE AUTHOR
Born in 1947, Robert Toru Kiyosaki is an American businessman, entrepreneur, and author. He is the founder of The Rich Dad Company, a private financial education company that coaches people through videos and books.
Kiyosaki is the author of twenty-seven books, including two books he co-authored with Donald Trump. In 1996, Kiyosaki and his wife, Kim, launched a board game called Cashflow. The game was meant to make investments entertaining.
Kiyosaki is especially well-known for his book Rich Dad Poor Dad, which he authored in 1997. The book has sold over thirty-two million copies in more than fifty-one languages across over 109 countries.
Rich Dad Poor Dad comprehensively destroys several myths about the lifestyle of the wealthy. The book is about the author’s two dads, explaining how his real father (the poor dad) and his friend’s father (the rich dad) shaped his financial knowledge. The biggest takeaway from the book is that you don’t have to have an astronomically high income to be rich. Kiyosaki has shared six important lessons that can help everyone improve their knowledge about how to manage their finances. He actively encourages his readers to invest in assets, instead of accumulating liabilities. He also emphasizes the need to invest in oneself to boost their financial acumen. At the same time, the author also advises the readers to be patient and build business over time, while also explaining the importance of passive income.
WHAT WE LIKED ABOUT RICH DAD POOR DAD
Kiyosaki has used simple language and easy-to-understand flowcharts to explain the concepts. This method easily conveys some otherwise complex ways to handle money.
Arguably the best thing about Rich Dad Poor Dad is that it imparts the kind of ideas that our education system doesn’t. Overall, Kiyosaki’s views on money are contrary to what one might generally think, thus driving home the importance and power of money.
WHAT COULD HAVE BEEN BETTER ABOUT RICH DAD POOR DAD
The book contains very few, if any, practical steps on money management. Most of the examples presented in the book are from Kiyosaki’s life, so not everyone may be able to relate to them.
The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.
Success is a poor teacher. We learn the most about ourselves when we fail, so don’t be afraid of failing. Failing is part of the process of success. You cannot have success without failure.
It’s more important to grow your income than cut your expenses. It’s more important to grow your spirit that cut your dreams.
Rich Dad Poor Dad is ideal for readers looking for ways to manage their personal finances. This is one of the best books ever written about financial independence. It helps readers develop the financial skills that can make them reinvent their relationship with money. The author’s views on the importance of passive income are absolutely essential in a world as competitive as ours. Aside from some valuable financial tips, he also gives readers the much-needed motivation to find ways to implement them in their lives.
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A creative prodigy, Pooja sees writing as the best way of expressing herself.