Rich Dad Poor Dad, written by Robert Kiyosaki, is the best-selling personal finance book of all time.
In this book, he talks about his two fathers, Poor Dad (his real father) and Rich Dad (Father of his best friend, Mike). The poor dad earned a Ph.D. from Stanford University, and his rich dad failed eighth grade. They both had distinct perspectives about money. Job security meant everything to his educated dad and learning meant everything to his Rich dad. This book is all about Rich Dad's wealth-building strategies.
First of all, he discusses the importance of financial education and why it should be taught in schools. He believes that numerous individuals are battling to pay bills and are in obligation since they have not been instructed how to oversee money.
Furthermore, he claims that the poor have no money because they are afraid of losing it. "Fear drives you out the door, and desire appeals to you, That’s the trap." says Rich Dad.
Following this, the author highlighted the difference between "assets and liabilities," as well as the significance of stock investment.
According to him,
The rich acquire assets.
The poor only have expenses.
The middle class buy liabilities which they think are assets.
The author has illustrated Rich Dad's theory using
Cash Flow Diagrams to make it easier and more understandable. He has also complimented the people of Texas for their financial knowledge.
Ratings: ⭐⭐⭐⭐⭐
Review: **WARNING** This is a VERY engaging and interesting book. Reading this book has been a great investment of time. It has deeply motivated me and has completely changed my perspective of looking at money. I loved the author’s way of putting down all the theories.
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