WHAT I HAVE LEARNT FROM “RICH DAD POOR DAD”?
TITLE: RICH DAD POOR DAD
AUTHOR: ROBERT. T. KIYOSAKI
GENRE: NON-FICTION
“The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money… but never learn to have money work for them.” – Robert.T. Kiyosaki
“Rich Dad Poor Dad” is a bestseller personal finance book, eloquently written on the art of moneymaking. Robert. T. Kiyosaki is an American businessman, author and the founder of Rich Dad company. He compares the money making habits of different strata and exemplifies how rich people ace that art.
“The poor and the middle-class work for money. The rich have work for them.”
Everyone should work smart instead of work hard. In fact, middle-class people believe in age-old myth “study well and get a good job” and inclinations to these fallacies have left them poor. Rich people invest their efforts in financial literacy and let money work for them. Author has coherently explained the same.
“Fear and greed”
The fear of no money invokes the poor and middle class to work hard. Later greed leads them to blow up this money. Their lives drive by these emotions, fear and greed, which in turn enters a rat race. This will keep them in poverty and financial struggle always.
“An asset puts money in my pocket. A liability takes money out of my pocket.”
I have been holding the idea of houses as assets until reading this book. Residence comes under the liability column where we spent a part of our hard earned money. So I decided to put my myth behind and start invest in my asset column. In the book listed all possible assets, one could have.
“Mind your own business”
Robert. T. Kiyosaki advocates that to become financially secure, a person need to mind their own business and your business revolves around your asset column, not your income column. He rationally explains how tax engulfs the whole income and left poor in jeopardy. It is inevitable to know the framework of tax in one’s country for sound financial knowledge and building assets.
The book has tackled all obstacle refrains one from taking effective steps in personal financial matters like fear, cynicism, laziness, bad habits and arrogance.
I was deeply sceptical about the book whether it would lead me to read slump but fortunately, it kept boredom at bay. I enjoyed every bit of the book and gave me deep insight on financial literacy.
You can buy the book here.
