Rich dad poor dad

Title: Rich dad poor dad

Author: Robert T. Kiyosaki

Editor: Plata Publishing Ltd

Year: 2017 (20th Anniversary Edition)

Year of first edition: 1997

Rating: 5 / 5

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Main topic: Personal Finance Education

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About The Author

Robert Toru Kiyosaki is an American businessman and author born in 1947 in Hilo, the largest town in Hawaii County. He attended Hilo High School and graduated in 1965. Successively, per Kiyosaki, he attended the United States Merchant Marine Academy in New York and graduated in 1969 as a deck officer with a Bachelor of Science degree and a commission as a 2nd Lt. in the U.S. Marine Corps. In 1992, Kiyosaki published his first book, and in 1997, he launched Cashflow Technologies, Inc., a business and financial education company that owns and operates the Rich Dad and Cashflow brands. Kiyosaki is the author of more than 26 books, including the international self-published personal finance Rich Dad Poor Dad series of books which has been translated into 51 languages and sold over 41 million copies worldwide.

Summary:

Rich Dad Poor Dad is a modern classic of personal finance and, from our point of view, the second book you should read, after the Richest Man in Babylon, if you don't have any kind of personal financial education. Although controversial and often criticized, the book has been read by more than 33 million people.

 

We suggest it for its simplicity of reading, educational content and mindset.

The book was first published in 1997 by Robert Kiyosaki and quickly became a must-read for people interested in investing and money. It advocates the importance of financial literacy, as well as financial independence, to build wealth and improve one's business and financial aptitude. 

The author tells the story of his two dad’s in his childhood. His own father and the father of his best friend. The first one is claimed to be Kiyosaki's own father who worked hard all his life but never obtained financial security, while the second one is his friend's father who accumulated wealth due to entrepreneurship and investing.

The overarching theme of Rich Dad Poor Dad is how to use money as a tool for wealth development. It destroys the myth that the rich are born rich, explains the difference in mindset between social classes (poor, middle class, and rich), describes the real difference between an asset and a liability, and much more.

Thanks to this book, the reader will be able to:

  • distinguish an asset from a liability,

  • understand what cash flow is,

  • understand the real importance of work,

  • identify the differences in mentality between rich and poor,

  • direct his own investments,

  • overcoming fear,

  • think big.

​​This is a book to read as many times as necessary so as not to lose focus.

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