For all those who love to read books, finding good reads is a huge challenge. There are too many options, genres, eras, and authors to choose from. And, sometimes we stumble upon books that seem promising but are complete mood kill. Luckily, some books stand true to their first impression.
When you think of financial management and introduce someone to financial independence and money, if nothing, you would definitely mention ‘Rich Dad Poor Dad’. For over two decades, Robert Kiyosaki’s money management guide has influenced and driven readers across the globe. And this book has definitely been a charmer for all these years.
To quote the author “What the Rich teach their kids about Money that the Poor and Middle class Do Not”
What’s the theme?
The book presents a contrast in the views and ideas about money between successful rich people and the not-so well-doing people. It talks about how ideologies, perceptions, and habits can make a huge difference.
Robert Kiyosaki introduces two dads – one rich, one poor and discusses their thoughts and ways of making money, utilizing their wealth, and investing the money. The rich dad is school drop-out with no fancy qualification but now runs a huge empire, while the poor dad proudly holds diplomas and certifications, yet has a hard time meeting his needs.
In his book, the author openly expresses his view that qualifications play very little role in one’s success. While one’s perception and approach towards their assets and wealth management make all the difference.
Words of wisdom by the ‘Rich Dad’
As the author briefly talks about the difference being rich and wealthy, achieving short term successes and being successful in the long run and more. He introduces some subtle yet really important ideas that can change your view about how you look at your plan.
‘Don’t work for the money, but to learn’In one of his rich dad stories, Kiyosaki introduces one of the key learnings. While most of the people feel demotivated and often quit, when they are paid less, there are a few who see it as an opportunity to learn and polish their skills. Alongside, he suggests identifying and establishing alternate means of income to generate wealth.
‘Identify your assets from liabilities’If you look at it, this seems practical too. One should focus to purchase assets and minimize their liabilities. According to the rich dad, an asset isn’t something that holds value, but something that generates income and doesn’t require too much effort and inputs. While anything else is just a liability.
‘Financial education is the key to success’Anybody can earn money, and it doesn’t take a genius to figure out how to make money. But, being great at making money and being able to manage and invest it rightly, separates you from the herd. If you invest in a friend’s business or are starting something new yourself. It is really important to know when to invest, how much to invest, and most importantly how to invest.
Oh no, no, no. This isn’t all that the rich dad has to say. There are a lot more important ideas and thoughts. This book is more than just a self-help guide, it puts the reality to test and candidly talks about the key things related to money, wealth and financial stability we don’t learn about in school
Final Thoughts for our readers
It is an amazing read, especially for all those young and bright minds. The aspiring students and amateur that are stepping into the real world and are just starting to earn. Though, not a DIY financial expert, Rich Dad, Poor Dad does shed some light on the importance of practical knowledge and financial education. Don’t miss out on this opportunity to be a step closer to financial independence and grab your copy. (Also available in Hindi, Tamil, Audiobooks and more.).