Rich Dad, Poor Dad - Book Review

Rich Dad Poor Dad by Robert Kiyosaki is one of the best-selling personal finance books of all time. It is a classic book that teaches readers about the importance of financial education and how to build wealth.

In the book, Kiyosaki shares his own experiences growing up with two fathers: his biological father, who was a highly educated professor who always struggled financially, and his best friend's father, who was a self-made millionaire. Kiyosaki learned valuable financial lessons from both of his fathers, but it was his "rich dad" who taught him how to think and act like a wealthy person.

Top 3 takeaways from Rich Dad Poor Dad:

1. The rich don't work for money; they make money work for them.

This is perhaps the most famous lesson from Rich Dad Poor Dad. Kiyosaki teaches readers that the key to building wealth is to focus on acquiring assets that generate passive income. Assets are things that put money in your pocket, while liabilities are things that take money out of your pocket.

Examples of assets include real estate, businesses, and investments that pay dividends or interest. Examples of liabilities include credit card debt, student loans, and car loans.

2. Financial education is essential for building wealth.

Kiyosaki argues that the most important thing you can learn in school is not how to get a good job, but how to make money. He believes that financial education is essential for everyone, regardless of their income or background.

Kiyosaki encourages readers to learn about accounting, investing, and the law. He also believes it is important to learn from successful people and to find a mentor who can help you achieve your financial goals.

3. Taking risks is necessary for building wealth.

Kiyosaki teaches readers that it is important to be willing to take risks in order to build wealth. He argues that the rich are not afraid to fail, and that they learn from their mistakes.

Kiyosaki encourages readers to start their own businesses and to invest in assets that have the potential to generate high returns. He also warns readers that there is no such thing as a guaranteed investment, and that they should always do their own research before investing.

In Sum:

Rich Dad Poor Dad is a great book for anyone who wants to learn more about personal finance and how to build wealth. Kiyosaki writes in a clear and concise style, and he uses personal stories to illustrate his points.

The book is not without its critics, however. Some people argue that Kiyosaki's advice is too simplistic and that he oversimplifies complex financial concepts. Others argue that Kiyosaki's focus on acquiring assets can lead to people taking on too much debt and risk.

Despite its critics, Rich Dad Poor Dad remains a popular book for a reason. It is a well-written and informative book that teaches readers important lessons about money and wealth.

If you are interested in learning more about personal finance, I highly recommend reading Rich Dad Poor Dad. It is a great starting point for anyone who wants to take control of their finances and build a better financial future.