This book is to financial basics and wealth creation as Kabir is to dohaas on life’s basics..
One of my friends suggested me this book as a result of his few discoveries abt my life and my thinking :-->
He knew I had quite a lot of free time (s/w engineer)which I was wasting otherwise..
He knew my mindset cuz I have told him 377 times that I want to atleast ’’try’’ to be amongst the richest men amongst all living beings..
And he knew that I was stuck up with this.. i.e I was slightly lazy and slightly confused...
So, I went out in full vim one strange Sunday and bought this book from a roadside shop.. after slight negotiation.. at the end of which I felt a trifle cheated.. but then I thought, since this book is going to inspire / teach me to become wealthy, 10 bucks dont matter much .. :-)
I neglected it intially, cuz I am not an automated reader.. i.e it cud take ten days for me to start the book after I have bought it...
Ok.. enough of the start..
Rich Dad Poor Dad (for those who have not read it) is a book about getting out of the control of money and instead taking control of it...
Its basically compares and contrasts 2 attitudes prevalent in our society regarding money.. One is the earn-pay taxes-spend-save approach, other is the earn-spend-invest-increase approach..
The author, Robert T. Kiyosaki, a world renowned investor and financial teacher, has put his own childhood experiences into perspective to explain certain concepts and approaches towards money management and an overall attitude towards life in general.
It laments the general attitude of the society in general to study hard, get a good job, keep growing and finally retiring.. He calls this approach the Rich dad approach..
The other approach which he wants people to adopt is the ’’Dont work for money..Make money work for you’’.. approach.. basically emphasizing the importance of investment, risk taking etc.. Most of the advices, ideas etc mentioned on the book are all common sense based and very easy to digest.. He has adopted a satirical style of writing to emphasise the importance of working for yourself, and not for others..
I will put down certain concepts (actions) that has had an inspiring / thought-provoking effext on me (as mentioned / suggested in the book) --
The fact that if we dont control money, its bound to control us.. through taxes, policies, loans and wat not...
The fact that you indulge in luxury using the cash flow(the excess money) in your account, and not your savings...
You need to completely realise that being money-minded is not ’’evil’’, and that after love(which is a feeling), money is the single most important thing in your life..
The fact that the richer you are, the richer you will get.. it keeps on compounding...
That greed is not bad, if it’s channelised wisely, and is for only the good things in life..
The statement that make money your slave, make every single buck you earn work for you..
that its far better to invest your present time in increasing your financial genius / intelligence and reaping its rewards for the rest of your life, than to crib later in life abt not having enough money...
On a slightly philosophical note, its worth trying (taking financial risks) and failing than not trying at all..
This book is a must-read for all of us who have the desire to lead a life full of fun and challenges.. This is a must read for the rest of us too :-)
We dint get to chose our dads (to be taken in the right spirits..),
but we surely can be a Rich Lad !!!!