Rich Dad Poor Dad: Rich Dad Poor Dad is a 1997 book written by Robert Kiyosaki and Sharon Lechter. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.
Rich Dad Poor Dad is Robert’s story of growing up with two dads — his real father and the father of his best friend, his “rich dad” — and the ways in which both men shaped his thoughts about money and investing. The book explodes 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.
Well, for starters, this book is not just about money. It’s about our thinking process, the way we are being taught to think; how we are constantly manipulated by schools, family and friends in believing that the rich are greedy and dishonorable opportunists. It is basically written to reprogram our minds to think about what we do..why do we buy all the attractive and elegant things..have we actually earned or are we just fooling ourselves?
The main point of the entire book is to educate ourselves on personal finance, which is to learn how to become financially independent by making money work hard for you and not you working hard to earn every single penny. It teaches you that there is no need for you to become a slave to money and instead to turn the situation to your advantage. There is no need for you to work for another person if you do not wish to. You can be in complete control of the situation by making money work for you in the right way. You can be your own boss!
Favourite quote from the book: I have never met a rich man who hasn’t lost a lot of money, but I have met a lot of poor men who have never lost a dime.
This book is an amazing read. It enlightens the readers about assets and liabilities, and various other keywords, by providing real life examples and scenarios. It is perfect for anyone who aspires to be financially independent.