The book Rich Dad Poor Dad is, as the cover states, a book about “what the rich teach their kids about money that the poor and middle class do not!” This book was a very interesting reach for me because it was the first book I had read as I started my investment journey. The story is about Robert Kiyosaki and the lessons he learned from his two fathers – his “poor dad” being his actual father and his “rich dad” being both his best friend’s father. The importance of their perspectives comes from his two dads coming from two opposite ends of the spectrum.
Rich Dad and Poor Dad
Robert’s real dad, also known as his “poor dad”, had a Ph.D. and had obtained many degrees from prestigious schools, such as Stanford University and Northwestern University, in half the time it took most normal students. He completed his studies on financial scholarships. His dad was successful in his career and became the head of education in Hawaii. After a failed run for governor, he lost his job and tried to start several franchises that were unsuccessful. At the time of his death, he left behind only bills.
On the other hand, Robert’s best friend’s father, his “rich dad”, started off poor and never finished high school. He built a business and lived frugally. Later in life, he would buy one of the most expensive pieces of property in Hawaii. He taught Robert to learn about money, grow his money, and figure out how to get things done. When he passed away, his family was left a hefty sum of money, as were his charities and church. He was not a greedy man but was a man with a purpose.
In the book, Robert describes the reason the rich get richer and the poor get poorer while the middle-class struggle in debt. The reason behind this is that money is not taught in school, which leaves these lessons to be taught by the parents. The issue with this is that parents can only teach what they know. Therefore, the rich teach their kids to be rich and the poor teach their kids to be poor. This isn’t done maliciously, of course, but it’s because it’s all they know. So, the poor teach their kids to go to school in order to get a good job, which typically gets them into substantial debt. The rich teach their kids not to work for money, but to make their money work for them.
This is one of my favorite books and is a great read – especially if you’re looking to change your life for the better. You will learn so many important lessons as you continue through the book. I like to think of it as a great self-help and philosophy book. Robert gives us a unique perspective as someone receiving advice from two different ends of a spectrum. This gives the readers two views on what his life would be like under the influence of one dad or the other. Robert mentions over and over again that he is not a writer, yet he still managed to write a best-selling book. This is because the experiences he shares with us are invaluable and will lead you to a path of both higher thinking and possibly better habits.
- Easy to read
- Great self-help book – seriously a life-changer!
- Will make you think a lot about your own habits and mindset
- A bit long
- Can be a bit repetitive
I encourage everyone to read Rich Dad Poor Dad. It is a life changing book and you will not regret the decision once you’ve read through it. Although it can be a bit long and some of its lessons are a bit repetitive, it is worth the read. Robert also has many other great books that stem from the Rich Dad Poor Dad series. If you have the chance and want to check out his other books, I recommend starting with Rich Dad’s CASHFLOW Quadrant.
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Also, in the coming months, I will be creating a tab for book recommendations for you to visit for good educational books that will drive you to success. Plus, look out for our upcoming Never Give Up on Your Hopes and Dreams series article tomorrow!