Divided into nine insightful chapters after introduction; “Rich Dad Poor Dad” cover wide generations of readers from early school going children to old age people. The book encourages individuals to think beyond school education and advocates financial literacy for all. While demonstrating different examples of approaches towards money of Rich Dad, father of writer’s childhood friend Mike; and Poor Dad, his own father, and well-educated school teacher, writer Robert T. Kiyosaki explains how easy is it to become a rich man or woman if you are financially literate.
At early few pages book kept stressing on “Don’t work for money, and let money work for you”; and according to writer’s Rich Dad, it is only a way to escape out of Rat Race of paycheque and bill payment. Kiyosaki enforces an idea of learning while working as an employee, going after money again put in the same rat race that remains you poor throughout the life. It is not necessary to start a company to become rich, however minding your business while working as an employee is a key to financial success. Minding your own business not only keeps you on good financial track, but also provides you with a reason to work hard as an employee. According to Robert, a person who minds their own business, do well as an employee too.
Full of cash flow diagram book successfully explains the difference between assets and liabilities. While proving your home as a liability, Robert suggests to regularly investing in real cash generating assets to become rich early. According to Robert, those who mind their own business keep improving their real assets such as real estate purchase, stocks, bonds, and intellectual properties. He stresses on financial knowledge and for him learning of accounts is the basic need of becoming rich. Apart from it, to improve financial intelligence learning investment, understanding market and law are quite essential. A financially intelligent man can become rich quickly as he is aware of how to save tax, how he can pay taxes after his expenses, and a lot more to play for him to save money each day.
Few important things beyond financial knowledge on which Robert put light through the book are fear, self-discipline, and power of spirit. He thinks managing fear, cynicism, laziness, bad habits, and arrogance are few things creates a primary difference between rich and poor; and have explained how to get over it. Robert says self-discipline is something that is most needed for a person to become rich and a self-indiscipline man can never be a rich man. To become rich it is important to find a reason greater than reality; and i.e. a power of spirit that keeps you on right track till and after success.
So, if you are looking for a book to become rich or to learn finance, then start with “#1 finance book of all time” Rich Dad Poor Dad.
Author: Ajeet Chaubey
When he was born, parents lost his Janmpatri (sacred birth document). Since then, he has been writing and erasing his own destiny.