BOOK REVIEW OF RICH DAD, POOR DAD

 

Rich dad poor dad, written by Robert Kiyosaki is among the earliest of books i bought. Robert Toru Kiyosaki is an American businessman and author. Kiyosaki is the founder of Rich Global LLC and also Rich Dad Company. Rich dad poor dad is an excellent piece of informative writing and perfect self-help book to have which provides you with the information about becoming financially intelligent and self-aware. The story revolves around Roberts two fathers – The rich dad (his friend’s father) and the poor dad (his own father). These two had totally different point of view regarding life and both of them influenced Robert in their own way while the rich dad had a focus on financial learning and literacy. His definition for an asset was something that makes you income and people should focus on multiplying there assets and invest their money and time in stocks and other high return fields rather than buying liabilities and giving taxes. While the poor dad focused on education and analytical intelligence he always focused on having secure job which eventually resulted in having a lot of debt and unpaid bills in the end while the rich dad who talked about having financial literacy and creative passive income succeeded in life and became wealthy.

Key Intakes from Rich dad poor dad -

1. Learning how to manage people.

2. Make money work for you.

3. Create numerous sources of income.

4. Always focus on real assets.

It was written in 1997 and is by far one of my favourite books ever written of all time on financial freedom and how to manage our cash flow and balance sheets with an ideology that “ Instead of working for money let money work for you “. And our personal assets are not really our assets they are our liabilities which takes money out of our pocket for example your house doesn’t produce a single penny while takes out money in the form of property Taxes, maintenance expenses etc. so it’s not particularly an asset it’s a liability .Rich dad poor dad conveys about how an Individual can become financially independent and can master the art of investing and finance.  This book shows us the clear path of success by focus on increasing our financial IQ which includes having knowledge about laws, investing, Taxes and regularly Analysing the market. Which will provide you will higher returns in future.

This books interprets the idea about how one should always be aware about themselves and never doubt their abilities and also to always take the best opportunities which will be beneficial in long term and finding plethora sources of income primarily focusing on passive income. I would strongly recommend others to have a look and it’s a must read book for people who are looking for motivation and basic personal financial lesson and who are looking for some inspiration to start of their work with.