'Rich Dad Poor Dad' is one of the most popular self-help books ever written. It was authored by Robert Kiyosaki, a well-renowned investor, to enlighten readers about gaining financial knowledge and living a life without worrying about money. This book is best suited for beginners who aspire to attain financial freedom.
Originally published in 1997, it has since become a bestseller, selling over 40 million copies worldwide. Written in a conversational tone, the book targets individuals seeking to enhance their financial literacy and achieve independence.
The subtitle of this book quotes "What the rich teach their children about money that the poor and middle class do not!" The book offers the same, providing simple steps to become wealthy through ten easy-to-understand chapters authored by the author.
Each chapter dives into various facets of personal finance. In this book, the author tells his story from his youth. He mentions having two father figures: his own father and the father of his friend. His own father, despite being a teacher with a Ph.D., struggled financially. In contrast, his friend's father, who wasn't academically successful and dropped out of school, was wealthy. The author refers to his own father as "poor dad" and his friend's father as "rich dad."
This story is all about what his "rich dad" taught him about money, emphasizing how one can achieve financial freedom by building passive income streams instead of relying solely on a regular 9-to-5 job.
Throughout the narrative, Kiyosaki synthesizes lessons gleaned from both figures to provide actionable guidance on attaining financial prosperity. He covers essential topics such as the significance of financial education, distinguishing between assets and liabilities, and harnessing the potential of passive income.
This book will change your perspective on money and how to earn it. It challenges your beliefs and understanding about money, explaining why some people become rich while others remain poor throughout their lives.
The author also challenges the education system, criticizing its traditional methods of teaching and highlighting how the school system fosters an employee mindset rather than a business mindset.
1. This book is fairly easy to read, and the way the author tells his story is very insightful. The author's story teaches us many things about money, including how to handle it effectively.
2. The concepts are very easy to understand; the author has explained the most complex ideas about money with such ease and simplicity that even a 10-year-old child can grasp them.
3. Details about money in this book are incredible; they can instantly change how one perceives money.
1. Despite containing many insightful stories and concepts about money, one thing missing from this book is practical steps for implementation. While the author discusses this in the last chapters, it may not be enough for complete understanding.
2. Some people say that the book is too simple in explaining certain ideas. For instance, the way the author explains assets and liabilities might not cover all the different situations. Also, some of the advice about investing might be seen as too risky or based on guesswork.
A person who aspires to become wealthy and adopt the mindset of successful individuals should read this book. Those seeking to change their perspectives on money, education, and the world would also benefit from reading it.
This concludes the book review of Rich Dad Poor Dad.
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