This review is about the rich dad & poor dad: the guide to financial freedom. This book is first instalment in the series of the largely popular Rich Dad series.
One of my friends recommended this book to me, when he told that this is a very good financial book. I did not pay much attention to his suggestion, as I was no interest in reading financial books what so ever. But then, looks like I was destined to read this book, as I was gifted this book by one of my relatives. As soon as I found some free time, I started reading this.
And man....I was bowled over with the refreshing new principle this book prescribles.
First of all this is not a regular financial book ( I mean its not boring, as I come from a non-financial academic background). The author Mike Kiyosaki symbolically explains how there are people of two kinds, using the words ’’rich dad’’ and ’’poor dad’’.
The poor dad is a highly educated and has a very good paying government job. He gets a lot of money as salary, but he does not know how to invest it or ’’Make the money work’’ as the author says. So the poor dad is trapped in the vicious circle of waiting for the paycheck and paying the monthly bills. The harder he works, the more he earns. The more he earns, the more he spends on useless liabilites.
On the other hand the ’’rich dad’’ is not-so-educated academically and is running a small business. But he wisely invests the money in various channels and he knows how to make the money work for him. The author exhorts us to become ’’Rich Dad’’ rather than the ’’Poor Dad’’ that we are now.
This book make us understand the diference between asset and liability, difference between the spending patterns of a employee, business man, self-employed and an entrepreneur. More importantly, this book makes rethink about the expenditure we make, though it tends to become more idealistic at times.
The language is so simple and interesting that it makes a good reading for everyone with any background. Overall, it is one of most impressive mind-changing books I read in recent times.
I think every person should read this book before he/she finishes the college and becomes a earner. I would certainly recomment it for all. Period.