Rich Dad Poor Dad: What
the Rich Teach their Kids About Money that the Poor and Middle Class Do Not
Written by Robert
Kiyosaki and Sharon Lechter in 1997, Rich Dad Poor Dad is based mostly on
Kiyosaki's young days spent in Hawaii .
Enriched by Kiyosaki’s personal experience and the teachings he received from
his rich dad and poor dad, the book highlights different attitudes towards
money, work and life.
Framed around six main
teachings and lessons, the book is mostly a self-reflection. Apart from the
financial benefits, the book also describes and highlights the teachings he got
from his poor dad, i.e., empathy and responsibility towards society.
Described as a personal
finance book, it has not only challenged, but has also changed the way people
think about money. The book talks about Kiyosaki’s background, his business
ventures and investments and variation between possessions and liabilities and
what importance they both have in terms of starting and owning a business. It
also sheds light on the teachings given by rich to their kids, which is usually
missed by poor as well as the middle class parents and why it is important to
have financial literacy over and above all.
It also provides impetus
on doing work for learning and not for earning and teaches the importance of
investing and building business. This path-breaking book also showcase how one
must be prepared to take action and risk and communicates the idea of how one’s
primary residence is a liability and not an asset. It communicates the
importance of intelligence and literacy in terms of finance and how financial
and entrepreneurial skills play a vital role in the success. How to use power
and prosper with the help of investment skills and why it is important to
possess investment skills are also written in clear and crisp words in this
book.
The book also talks of
the importance of investment and free enterprise and urges the prospective
investors and businessmen to learn from others, especially from rich people and
generate new ideas to excel and succeed in life.
Originally published in
1997, it was also selected commercially. Termed as New York-Times bestseller,
the book has been a boon for management and financial aspirants.
About
the Authors
A successful American
businessman, motivational speaker, radio personality and self-help author,
Robert T. Kiyosaki wears many hats. A well-known writer who can inspire readers
with his words, his book Rich Dad Poor Dad advocates the importance of financial
independence and is arguably based on his own life.
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