Let’s talk about the book Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
How I Learned About the Book:
Before I begin talking about the book itself, I will say that I stumbled upon the book when looking into obtaining some financial literacy. In particular, several people were recommending online that this book is worth the purchase and has taught a lot about personal finance to these people.
With this reasoning, I decided to get the book and read it to myself. At the time, I was debating on whether to get the Think and Grow Rich, written by Napoleon Hill. I do not regret picking this book over the one written by Napoleon Hill.
Rich Dad Poor Dad is a book by Robert T. Kiyosaki, and you may have heard of his other publications related to the Rich Dad Poor Dad brand. Particularly with the book, the aim is to teach anyone the secrets of the rich that anyone can use. As well, Kiyosaki provides a personal narration to the novel that provides a more excellent description of how the rich use them and how the poor or middle class do not.
The book even has illustrations that are aimed at teaching you the rules that Kiyosaki is explaining, which is a bonus to the book.
I will not provide a book summary of sorts, because you can find various blogs or articles that will do that for you, instead, I will provide my comments of what I have taken away from the book and any objections I may have.
Where do I begin? Well, one of the aspects of the book that I have enjoyed was the study sessions provided after each chapter. Robert added these in to personally reflect on the points he was conveying and help retain this information. His aim was efficient, and I found that I was able to keep the information further after reading, and some of the questions will make you reflect on your life. The point behind the questions as well asks if you don’t like the answer you’re providing, you have to ask yourself, are you willing to change?
Robert then goes on to talk about how the education systems do not teach people how to build their wealth and that they do not teach personal finance. For a lot of people that I have personally spoken with, they wished that whenever they were going to high school that the education system taught about taxes or what people should know when taking on a home mortgage. These are fundamental lessons in life.
Everything that Robert has said and described through his book is nothing that I have ever learned through my upbringing in the education systems. The points he makes are clear, descriptive, and logical. It certainly has changed the way I think about personal finance and especially assets and liabilities.
Robert made it seem like becoming rich is relatively easy. He talks about his upbringing in creating his own company and buying real estate as a tangible way to make passive income. As we all should know, there is no quick way to get rich, but if you have found a way, feel free to share it. The path to building wealth is over time, and you will have to be patient. Robert also talks about that there are plenty of opportunities to make money, but not everyone can vividly see it. I believe this to be true as you may once have considered a particular product or service that should be provided, but later decide not to act upon it. Then you will find that someone has created that specific product or established service, and yet while they are making money, you are not.
Within the book itself, Robert talks briefly about his CASHFLOW game that anyone can play. While reading the book, I figured it would be a great idea to take what I learn and use it as a strategy to the game. Think of the game similar to Monopoly. Without the book, I would not have heard of the board game, and I recommend that everyone plays it and learn what they can take away from it, even Mr. Kiyosaki encouraged it. Either way, it is another resource at one’s disposal.
Financial intelligence is something that Robert enjoyed talking about a lot. He believes that everyone has a little financial genius inside of them. I would like to agree that, as it is crucial to exercise the body to prolong life and be healthier, it is just as important to exercise the brain. If you want to become wealthy, it is suggested that you increase your financial intelligence. He suggests that you can attend seminars, classes, or read books to do so. Robert himself says that he still does these activities to continue to build his financial intelligence.
Robert now has various other books related to financial intelligence, real estate, and many other topics that you can view for yourself over on his website.
One drawback I have from the book is that there is not much explanation for how one can get started on the journey to financial freedom. Robert does not tell you directly how you should start building your assets to earn you more money but instead instills the mindset to want to do so.
If you want to build up your assets, you will need to build your financial intelligence. As lucky as we are to have an array of resources at the palm of our hands today, it is easy to increase your financial intelligence by searching the web or watching videos online.
This book is not intended to buy a particular stock or the secrets to purchase a great property and how to flip it. It teaches you how the steps and mindset one needs to take to become wealthy and successful.
There were not many dislikes that I had with the book. I thought it was well done and provided wonderful insight on the mentality and lessons to building your own personal wealth.
Overall, out of 10 stars, I would give this book a 9 or 9.5. I thoroughly enjoyed this book and found myself to retain much of what he has taught. Now you may personally either love or hate Robert Kiyosaki. Nevertheless, he has been successful in building wealth and has several lessons for anyone looking to build their wealth.
This is definitely a must-have when it comes to building your own financial intelligence. As well, this is a great personal finance book for anyone who wants to read something different.
If you are interested in purchasing the book, I will leave the link to the book on Amazon’s website, where you can buy it through there.
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Disclaimer: I am not a financial advisor. You are trading at your own risk and should consult a financial advisor for any investment decisions. Do your own due diligence when considering investing, and this information is for educational/informational purposes only.