Rich Dad Poor Dad is written by Robert Kiyosaki, a well-known and successful author of many books on personal finance. I happened to buy a copy of Rich Dad Poor Dad over the weekend thanks to his catchy catchphrase or maybe I thought it might help my dwindling bank balance! This book has been on the New York Times bestseller list for many years and has many other credits to its name.
Rich Dad Poor Dad deals with many topics, such as the fact that it is wise to practice financial education by avoiding debt and starting businesses and real estate. Robert’s book tells us to get more and more knowledgeable about financial markets and finance-related terms because most people lose money not because they are dumb, but they tend to lose because of lack of knowledge.
According to the book Rich Dad Poor Dad, financial education should be treated like learning another language and one should be fit for it. As one learns more and more about basic financial terms and practices to become more financially literate, one begins to pay more attention to details such as financial statements, assets, liabilities, credit and debt, and other components of the financial world. These terms would have been ignored before or one just didn’t know anything about them.
In the book, Rich Dad Poor Dad, Robert refers to his real father as “poor dad” as a symbol of all those people who are always running the rat race, helplessly trapped in a vicious cycle of needing more but never being able to satisfy. your needs. dreams, all because of one glaring lack: financial education. On the other hand, the man referred to as “Rich Dad” is the father of a neighborhood friend who never finished eighth grade but owns grocery stores, a company, and a chain of three restaurants.
Your “rich dad” represents those independent and wealthy people in the world who knowingly and deliberately take advantage of their personal knowledge of taxes and accounting and manipulate it in their favor to enjoy great success in this world.
Rich Dad Poor Dad is a good book for people who have just started down the road to financial education. Although there is a lack of actionable items for the reader to do, it lays a foundation for people to start. It is available at all leading book stores, although it is best purchased through some online retailers due to the deep discounts they offer.