I learnt about this book when I read Robert Kiyosakis other book ’’Business School’’. that book was provided to me when I joined a Network marketing company.
In ’’Rich Dad Poor Dad’’, Robert shows the necessity for financial education for employees who will teach their kids to be employees. He points out the danger in such a thinking which is done by 90% of the people around the world. This book is intended for the one who seeks to come out of the ’’work for Money’’ trap and who dreams of getting Rich or Financially stable. Robert says he wrote this book so that middle class people get the right financial knowledge which is never given by the school education. School education instead teaches how to be good whole life employee and make the employers dream come true.
The ’poor dad’ in the book is related to the common middle class person who lives from pay cheque to pay cheque and has little saved for retirement. Robert has directly related his own dad, a highly educated school teacher as ’poor dad’. Why? because his dads thinking didnt make them financially strong. ’Rich dad’ was his friends dad, who had sound financial knowledge and who proved to be a role model for Roberts ’Financial Freedom’.
The book is thus a direct comparison of the thinking of the middle class and that of the rich. The book breaks common assumptions like ’’the poor dont work for money and the rich do’’, ’’good education and good grades make you rich’’, ’’one should find a good job that will provide you for your retirement’’, and all those that we learn as ’’Good Morals’’. Step by step Robert breaks these morality assumptions thru sensible explanation and thru his own experience. There is no room for doubt.
The book is an eye-opening for those who decide to build their life on ’Easy Monthly Instalments’ (most of us - including me). Things like ’the Rich dont work for money’ and ’the Rich make their money work for them’ have true value is what I found. One thing to note, Robert calls that person as Rich who has money, time and security - all of them. Businessmen who have no time but lot of money are not wealthy according to him. Robert has measured wealth in terms of time i.e. time for which you can survive without working. At regular intervals, he points out the danger in the ways the Stock markets operate and more danger in them being principle attraction centres for people having no financial knowledge and who are looking for ways of ’Getting Rich Quick’. Robert concludes that such people land bankrupt and work their whole life to pay off their debts. Assets and Liabilities are explained superbly in the simplest manner.
’Time compounding’ and building successful businesses thru strong management and a good team are the basic necessities he says. By grouping people as ’employees’, ’small business owners’, ’business owners’ and ’investors’, Robert clearly draws the separating lines in the way how all of the people think and live their life in pursuit of survival and success. Every where possible Robert supports only the ’’legal’ and ’ethical’ ways of becoming rich. Pls dont consider this book as an effective Gambling Guide, its not. Instead its a book you will read and cherish about.
Robert has created a complete Financial Education University and this book is the first semester. The other that follow are ’’Cash flow Quadrant’’ and ’’Guide to Investing’’. ’’A B C s of Real Estate Investing’’ is another one that breaks more common assumptions. https://richdad.com shall show you the path. A final word. This book is meant only and only for people who are serious about achieving financial freedom and other like goals. It will arouse the need for change in thinking, resulting in change in the ways you operate. If you get it right, you will act. If you dont, you will be offended.