Rich Dad
Rich Dad, Poor Dad written by Robert Kiyosaki is a story of Robert as a youth learning about monetary lifestyles. Kiyosaki had two fathers, his biological and his best friends, each taught him different things as far as how important money is and what he should do with money when he gets it. This book teaches about wealth, which does not necessarily mean rich; you can be wealthy with assets and investments not just money. Kiyosaki's rich dad said, "let money work for you, don't work for money." The book Rich Dad, Poor Dad began with Robert Kiyosaki describing his youth with his two fathers. Kiyosaki had one rich dad and one poor dad, one was highly educated and one dropped out of high school, one was his real father and one was his best friends father. Kiyosaki's real dad was the one that was highly educated with a Ph.D., he was the poor one also, and his other dad (his best friends father) had dropped out of high school, became one of the richest men in Hawaii. Both wanted their sons to receive a good education and get a profitable job after college.
" The third - Mind Your Own Business, focuses on business. The real reality is that the rich are not taxed. The first lesson was - The Rich Don't Work for Money - this focuses on how he was taught to spend money. But, the poor dad saw a profitable job as one his son could work for and have good benefits to be stable in the future. If these are not learned a child entering adulthood will have a greater chance of entering debt and struggling through life. Money makes the world go round, if you don't invest or gain assets your ignorant. " The sixth - Work to Learn- Don't Work for Money reveals in order to have money you need to give money. Kiyosaki realized the track he was on at a young age, so he and his best friend went to his best friend's dad (his rich dad) to learn six lessons (below are the six lessons, with major quotes from rich dad) to becoming financially wealthy. Financial problems are caused by poor cash flow management, which poor dad had but he felt that money was the answer to all problems. This way resulted in the poor dad staying poor, paying bills constantly and dying with debt. "If schools taught people about money, there should be more money and lower prices, but schools focus only on teaching people to work for money, not how to harness money's power. The fifth - The Rich Invest Money, states, "Most people work hard and save money, but people need to invest in assets instead of letting money sit and only gain little interest. Kiyosaki's poor dad wanted the best for his son but his way was the traditional go to school, get a good job to pay bills, and rely on social security for retirement.
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