Want to Obtain Financial Independence? Read This Book!!
Pros:
Quick read, written in very simple terms
Cons:
A little repetitive at times
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Overall Rating:
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Author's Review
Rich Dad, Poor Dad describes what Robert Kiyosaki learned as a child from his two "Dads" -- his real father, a highly educated school administrator (the Poor Dad), and the father of his childhood friend Mike who owned several small businesses and never finished the eighth grade (the Rich Dad.) Kiyosaki's "Poor Dad" spent his life worrying about the next pay raise at work and spent his money "keeping up with the Jones'." His "Rich Dad" thought working in "a job" was stupid and spent his money acquiring income producing assets. Because of what his rich dad taught him about money Kiyosaki was able to retire at 47.
Kiyosaki shows how we must change our way of thinking if we ever intend to be financially free. This book is not a "get rich quick" book. This book provides a "financial foundation" that you can use to see if you are heading in the right direction or not. Kiyosaki explains that knowing the difference between assets and liabilities is crucial for acquiring and building wealth. "Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets." An asset, he says, puts money into your pocket. A liability takes money out. Financial aptitude is what you do with your money once you make it, how you keep people from taking it from you, how long you keep it and how hard that money works for you.
The basic principles that he teaches are to start saving early, preserve principal, don't get into debt, pay yourself first, and invest aggressively. His principles are further explained in 6 lessons as follows:
1) The Rich Don't Work for Money
2) The Rich Teach Financial Literacy to Their Kids
3) The Rich Mind Their Own Business
4) The Rich Understand Taxes and the Power of Owning Your Own Corporation
5) The Rich Invent Money
6) The Rich Work to Learn - They Don't Work for Money
The author drives home each lesson by vividly illustrating it. He helps to create a picture in your mind that will help you retain this powerful information.
This book has really changed my way of thinking about money and has also given me the starting point to learn more about investments, financial independence and how to create more wealth.
I recommend this book to anyone who wants to learn ways to improve their financial fitness and to secure a prosperous future.
