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Rich Dad Poor Dad author, Robert Kiyosaki grew up with two father figures with vastly different financial situations, and as a result – extremely different philosophies on success.
Kiyosaki has turned his past experience into a fantastic series of informational products, most notably Rich Dad, Poor Dad, a book full of sound financial wisdom.
Kiyosaki’s biological father was well educated and had a decent job but lived paycheck to paycheck; barely able to support his family.
Meanwhile, Kiyosaki’s best friend’s dad had an eighth-grade education but had worked his way up to become a self-made millionaire.
Why the difference between these two men? What was Kiyosaki’s dad doing wrong that his friend’s dad was doing right? That’s what Rich Dad, Poor Dad is all about.
His “rich dad” taught him that while most people work for money, rich people make their money work for them. It’s your assets that determine your true wealth, not your income.
You could be taking home a salary of $500,000 a year - but if you’re spending $550,000 a year, you’re not rich, are you? In fact, you are just as bad off as someone making $50,000 a year and spending $55,000.
Someone who is earning $50,000 but living on $40,000, well within their means, is much BETTER off than someone who spend more that he or she makes.
Assets feed you, and liabilities bleed you. That’s the theme of Kiyosaki's book, Rich Dad Poor Dad, encourages investing - not just a simple 401(k), but additional investments that work for you over the long-term.
You should be prepared to take some educated risks. You shouldn’t be reckless, but there are calculated risks that should be incorporated you’re your final decision-making process.
The author lays out his recommendations very clearly, and he makes the point that financial literacy simply is not taught in our schools today. Very little of what you learn in your high school economics class will actually help you accumulate wealth.
Rich Dad Poor Dad is like a crash course in financial literacy, and as such it is a valuable resource. He also consults with a certified public accountant for backup on some of his points.
Kiyosaki himself earned enough money to retire at age 47, so he knows what he’s talking about. Assets that generate income are much better than even the best of jobs - and if you can acquire enough of those assets, you can ditch the “job” altogether, just like he did.
Rich Dad Poor Dad” explains how to do just that. It’s not a “gimmick” or a “system” or a “get-rich-quick” scheme.
Kiyosaki’s strategies are simple, logical financial solutions, which are explained by someone who has been down the road himself.
Read it, this can be a life-changing book!
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