Rich Dad Poor Dad by Robert Toru Kiyosaki
Brief introduction about the book Rich Dad Poor Dad: It is a book written on “self help”, i.e. how one can develop himself financially. The author gave his own story about his two fathers; the both men give him the thought and ideas about money and investment.
About the author of this book Rich Dad Poor Dad:
He is by name Robert Toru Kiyosaki who is a truly talented personality.
He is an entrepreneur, investor, motivational speaker and author; he is very popular for his series of books called “Rich Dad Poor Dad”.
Robert T. kiyosaki was born on 8 April 1947 in Hilo, Hawaii, united states, he is a Japanese American.
About the book Rich Dad Poor Dad :
Rich Dad Poor Dad is a book written by Robert T. Kiyosaki in the year 1997. The book tells us what the rich teach their kids about money that the poor and middle class do not.
The tittle of the book already gives a hint about the book, the author is narrating his story of growing up with two dads; his real father and the father of his best friend and how both men shaped his thoughts about money and investing.
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Below are the summaries of what the book contains:
-the book is titled “Rich Dad Poor Dad” because the author was having two dads; his actual father and the father of his best friend.
-the book is all about the story of the author and his experience about his two fathers.
-the discussed how and what the rich parents teach their children about money that the poor and middle class do not.
-the fact that, you don’t need to earn a high income to become rich
-it also teaches the parents why they can’t rely on the school system to teach their kids about money.
-it also talks on asset and liability.
-It teaches you what you teach your kids about money.
-there is a different between being poor and being broke. Broke is temporary. Poor is eternal.
-money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.
-peoples lives are forever controlled by two emotions; fear and greed.
-thinking that a job makes you secure is lying to yourself.
-intelligence solves problems and produces money.
-an asset puts money into your pocket. A liability takes money out of your pocket.
-cash flow tells the story of how a person handles money.
The contents of Rich Dad Poor Dad;
The five big ideas:
1-The poor and the middle class work for money, and the rich have money work for them.
2-It’s not how much money you make that matters, its how much money you keep.
3-Rch people acquire assets, and the poor and middle class acquire liabilities that they think are assets.
4-Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
5-The single most powerful asset we all have is our mind.