Rich Dad Poor Dad
Author: Robert T. Kiyosaki
Co-Author: Sharon L. Lechter
Ever wondered if your child is educated properly and adequately in the school? Do your child’s grades really indicate his/her level of education? Your child might be a winner in the school but does it translate to being a winner in society as well? In a shift of thinking from conventional social dogmas regarding money to practical society and the need to survive in it, author Robert T Kiyosaki starts off with his own story and the way he was influenced by his two dads. One dad wanted him to study hard, get good grades and find a high paying job with great benefits. He was highly educated and intelligent. The other dad never finished the eighth grade. Both were successful in their careers and earned significant incomes. Yet one of them struggled financially all his life and the other was counted as one of the richest in the town. But worked hard all their lives and were strong, charismatic and influential. But one died with bills unpaid and the other left with millions to family and charity. The author tells that both men believed strongly in education but did not recommend the same course of study.
He ingeniously brings out the contrast between two dads –
PD - Study hard so you can find a good company to work for.
RD – Study hard so you can find a good company to buy.
PD – The reason I’m not rich is because I have you kids.
RD – The reason I must be rich is because I have you kids.
PD – When it comes to money, play it safe, don’t take risks.
RD – Learn to manage risks.
PD – I don’t work for money.
RD – Money works for me.
Two influential fathers had a profound effect on his thinking. He learned from both of them. The mutually conflicting advices made him think and exercise his brain right from age 9. He weighs both the arguments and decides to go the Rich dad’s way. Talking about money is always considered immoral. But the very lack of knowledge about how money works is the root of pitiable condition of many people. Kiyosaki makes an attempt to educate the readers about the need for being financially literate.
In the six lessons that follow, Kiyosaki takes us on an exhilarating ride on the ways to handle our finance. His cash flow patterns clear the air surrounding incomes, assets and liabilities. He says it is necessary to read through the numbers. A chapter on history on taxes and corporations illustrate how the rich play their game and evade from the clutches of tax. The true capitalists use their financial knowledge to find an escape. In the end he gives ten steps which he followed to awaken the financial genius in him.
But then he emphasizes on the fact that acquiring wealth is not easy. One needs a tremendous determination and groom the financial genius within him. It is not a quick-fix-technique. Rich Dad Poor Dad offers practical methodologies and is an action oriented book. Mere reading is of no use.
He ingeniously brings out the contrast between two dads –
PD - Study hard so you can find a good company to work for.
RD – Study hard so you can find a good company to buy.
PD – The reason I’m not rich is because I have you kids.
RD – The reason I must be rich is because I have you kids.
PD – When it comes to money, play it safe, don’t take risks.
RD – Learn to manage risks.
PD – I don’t work for money.
RD – Money works for me.
Two influential fathers had a profound effect on his thinking. He learned from both of them. The mutually conflicting advices made him think and exercise his brain right from age 9. He weighs both the arguments and decides to go the Rich dad’s way. Talking about money is always considered immoral. But the very lack of knowledge about how money works is the root of pitiable condition of many people. Kiyosaki makes an attempt to educate the readers about the need for being financially literate.
In the six lessons that follow, Kiyosaki takes us on an exhilarating ride on the ways to handle our finance. His cash flow patterns clear the air surrounding incomes, assets and liabilities. He says it is necessary to read through the numbers. A chapter on history on taxes and corporations illustrate how the rich play their game and evade from the clutches of tax. The true capitalists use their financial knowledge to find an escape. In the end he gives ten steps which he followed to awaken the financial genius in him.
But then he emphasizes on the fact that acquiring wealth is not easy. One needs a tremendous determination and groom the financial genius within him. It is not a quick-fix-technique. Rich Dad Poor Dad offers practical methodologies and is an action oriented book. Mere reading is of no use.
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