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Monday, July 29, 2019

robert kiyosaki books(Rich Dad, Poor Dad)


Although Rich Dad, Poor Dad authored by Robert Kiyosaki was published in 1997, it holds its value even after 22 years. The book’s theme of disseminating financial education with a special emphasis on accumulating wealth through investing in assets and real estate is a practical and realistic approach even today. Moreover, how to build an entrepreneurial venture and how to increase one’s financial intelligence also constitutes a major part of the book.
Interestingly, the concepts of finance – which are dry and boring – are explained with simplicity and clarity in the form of stories. These stories – or parables as the author refers to – are part of his own life. Since the readers can relate themselves with these stories, they positively impact their minds to help them understand the many intricate and complicated terminologies and practices involved in finance, financial management and investment. Perhaps this is why the book sold over 32 million copies in 50 languages and remained at the New York Times bestseller list for almost six years.
The first chapter tells the essence of the book that follows in the preceding chapters. Robert Kiyosaki narrates the story of two fathers. One is his own father and the other is his friends’ father. Robert tells that both men were strong, charismatic and influential but one had completed his PhD and the other dad never finished the eighth grade. While both dads earned an income and were successful in their respective careers, one dad died leaving tens of millions of dollars and the other left bills to be paid. These two dads gave Robert two contrasting point-of-views and philosophies of life. Instead of selecting one and rejecting the other, he compared both and chose the best one.
For instance, one dad told Robert that “the love of money is the root of all evil” while the other said, “the lack of money is the root of all evil.” Similarly, one dad said, “I can’t afford it” and the other would say, “how can I afford it?”. Robert writes, “One is a statement, and the other is a question. One lets you off the hook, and the other forces you to think.” Kiyosaki said that when you think about a certain issue or concern, your mind becomes stronger. Such was the case with the rich dad who continuously thought about money matters while the poor seldom pondered on his finances.
robert kiyosaki books
robert kiyosaki books(
Kiyosaki presents in detail a notion that holds appropriate today just the way it was in 1997. He explains that schools do not teach financial skills but focus on professional and scholastic skills. He explains that children learn about how to save money from their parents. Therefore, poor parents can only advise their children to study hard to secure a good job after graduation. Even if the child scores good grades, the parents’ poor financial planning does not promise a bright future for the child. Kiyosaki also says that the debt accumulating for the US is because highly-educated politicians make financial decisions without having proper know-how on money management.
Kiyosaki further explains that fear and greed are the two emotions that overshadow people when they think about finances. He says that successful are those who invest their savings that build wealth instead of spending on an improved lifestyle by buying a car or items of luxury. Where investing to build wealth provides you with a stable financial future, investing in an improved lifestyle is a liability that only pleases your desires without any financial benefit.
Kiyosaki elucidates that the rich do not work for money because they learn skills and understand how to use them to earn money. Another concept is that rich people do not, and in the broader sense, should not waste money to buy expensive cars or mansions. They can drive less-expensive cars to save and reinvest the money in other ventures. Kiyosaki also gives a lesson on why is financial literacy important. He explains that an asset brings you income while a liability has a cost associated with it. He advises readers to earn money that can be invested in assets thereby opening up multiple revenue streams for them instead of buying liabilities that do not bring revenue but incur expenses.
One key idea from the book is to ‘work to learn and not to work for money.’ This chapter has two diverging viewpoints because almost all of the middle-class around the world works for money and a handful of the risk-takers from the middle-class and the upper-class work to learn and invest in assets. Nonetheless, the chapter does give an idea of how to build your business.
The writer is an independent researcher, author and columnist. He can be reached at omariftikhar@hotmail.com








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