Rich Dad, Poor Dad is the story of author Robert Kiyosaki’s upbringing and his two fathers – rich father (not biological) and poor father (biological).
The most important thing that this book does, teaches you how to look at money in different ways. It offers a viewpoint that’s probably different from the one you have today. For that reason, I think it’s worth reading. It also emphasis on the fact that you should try hard to save money and accumulate assets that can ultimately substitute the income you make from your employment, and that’s something I agree with. It’s also somewhat inspirational, as it portrays a kind of life that justifies the dreams that many of us have of being free and independent although there isn’t a specific recipe for success.
Great book to read, especially for all the young adults who are just entering the work phase of their life. Some general principles, as taught in the book, are certainly worth learning.
One of my most favorite chapters from this book is “The Rich Don’t Work for Money”. Arguably the most interesting chapter in the book, the way the title should be read is that the rich don’t work for money. They work to learn things, and the things they learn can easily be applied to make money over and over again.
In a Nutshell:
If we could change our attitudes to risk and wealth, we could begin to think, act and live like the rich. But first, we must become financially intelligent. Many people work very hard, but they never seem to earn enough, but it’s all about escaping this “rat race” and achieve financial independence. If you want to buy something, you must first generate enough cash flow from your assets to cover these expenses. Buy luxuries last, not first. Surround yourself with people who are smarter than you. However, if you do not want money to control you like it does most people, then you will have to do things differently from the crowd. Have a purpose and a burning desire of becoming rich.
It should be read, if not for the inspiration, just to get you to think differently than a salaried employee. I don’t love or hate it, and hence the reason why I give this book a generous 3.5 out of 5 stars.