The author Robert Kiyosaki is a half American, half Japanese one. He has written around 19 books. Robert has also co-authored 2 books with Republican Nominee for the Presidential Election of US 2016. Kim, wife of Robert has also written books. This book is about Financial Intelligence or I rather use the word Financial Literacy. The purpose of writing down this book is to discriminate the view point of both his Dad’s – A Rich One (not biological) and A Poor One (biological).
There are actually 9 chapters in the book .The Protagonist starts a story with an example of his childhood. When his classmates went for a vacation trip, they didn’t invite the author and his friend Mike because of the reason that they were not rich. So the author goes to his real father (poor one) and asked about how to become rich? His dad sent him to the Mike’s dad, who is rich businessman. Then a series of exercise starts for the author and Mike.
Rich dad offers some advices in the return of some work. The trick of certain kind and the negotiation that takes place between them is kind of awesome and really helpful if you want to be an Entrepreneur. Author is against the society’s fixed formula go to school, get good grades, get to the college, get a decent job, earn ample amount of money for the security of the so called future. The author thinks that phenomenon reflects the middle class mindset. The author is deeply affected by this statement of his rich dad so much that he repeats this sentence like 1000 times in the entire book. Rich dad thinks that this cycle type statement was taught by the professors in the school. But nobody teach how to actually make money in the real life apart from this single cycle. Rich dad also explains the difference between the assets and the liabilities and also explains the importance of assets. Balance-sheets, Income- Expense tables of haves and have-nots are also shown with the figures. Some things in the book later become cliché like Poor people only work for money while Money works for Rich ones.
In the book author’s point of view is also lean towards the Rich dad’s direction. He surely consult both of his father but mostly go with the option that rich dad has provided him. There are some points with which I personally don’t get agree like business person should have to focus on salesmanship rather than the product itself. The opposite example is TESLA. There are some law related talks like 1031 Revenue which can only be understood if you know the US law. Besides that author has created the game for the financial understanding CASHFLOW®
Which is available on Get a financial education at Robert Kiyosaki’s Rich Dad Company. Author also put some reference of the books like “The richest man in the Babylon” and “Think and Grow rich”.
Critics Point of View
The comparison between the ideas of rich and poor dad seems worthy and opens up a new path to think on because one can never learn such things while being scholastic. The asset and liability are main and critical factors to create the difference. Simplest definitions of both are also given like asset is which puts money in the pocket while liability is which takes money from the pocket. The whole funda is to add the money to your asset column and then it will generate income for you automatically. Don’t rely on liabilities. At the end I would like to say that there are points on which you agree and on some you don’t, but also keep in mind that this book is published first in the 1997. A lot has been changed in the last 19 years. So it’s not necessary that everything author provides whether it is a trick or an information that can be applied to the today’s world. Apart from that you aren’t the only one who has read this book, this book is on the list of New-York times best seller list and millions of copies of the book were sold. So there are millions like you already there. That’s why don’t follow this book BLINDLY.
What I have gained from this Book?
Financial Intelligence
It sounds rude or egoistic but rather than I would like to use the word
Financial Literacy.