What to learn from Rich Dad Poor Dad by Robert Kiyosaki - shopfun4

Ads Top

What to learn from Rich Dad Poor Dad by Robert Kiyosaki

Book Review: Rich Dad Poor Dad by Robert Kiyosaki

About Author

Robert Kiyosaki is a businessman first and then one of the greatest Authors. Robert is the founder of Rich Dad Company and Rich global LLC. Their company provides business education and personal finance also.
Robert Kiyosaki's latest book is also going to be one of the best seller books, Fake: Fake Money Fake Teacher and Fake Assets and Second Chance. Second Chance is the latest book by Robert Kiyosaki.
Robert Kiyosaki received congressional nominations from senator Daniel Inouye for US Merchant Marine Academy and US Naval Academy. Robert Kiyosaki attended United States Merchant Marine Academy and graduated as a Deck officer in 1969 with Bachlor of Science Degree.
Robert Kiyosaki started selling T-shirt, bags, wallets for Heavy metal rock bands. In 1980's Company went bankrupt. 
Robert Kiyosaki published his first book in 1992 If You Want To Be Rich And Happy, Don't Go To School. In this book Robert Kiyosaki told to the parents of students, dont send them to college, instead enter to real estate business.

Plot 

Rich Dad Poor Dad is a best seller book by Robert Kiyosaki. Robert talks about his two dad in this book. One is their real Dad, who is poor and is a professor at University. Another Dad is their friends Dad, who is a businessman and believes in financial freedom. Robert Kiyosaki talked about the difference between Rich people and Middle-class or poor peoples. 
In the book Rich Dad Poor Dad, Robert Kiyosaki has tried to teach us total 9 lessons. We will see them one by one.
Lesson 1 : Rich don't work for money
Generally it has observed that the middle class or poor peoples work for money but rich people have money to get work from these peoples. As like everyone rich people also work hard, but they work hard to learn things. Once they learn things, they easily start earning from these things.
Robert Kiyosaki asks their father once, how he can be rich, how he earn money. The father of Robert (poor dad) says to be rich you need to learn to make money. The very next morning Robert found one partnership firm with their friend Mike and started making money(coins) from Casting of old tin toothpaste. But when roberts fathers found out about their business, they told them it is illegal and suggest to consult from mikes father.
Mike's father offered them a job to clean shelves 3 hours each Saturday for 10 cents an hour. And this was the beginning of their life changing lessons.
Initially they enjoyed the job experience, but after some time they realised that they're not learn how to earn money with this way. They asks to rich dad, increase our pay we'll leave. And here they got their first lesson from rich dad. Few persons leave their job because they are not getting paid enough, some people stay and wait for increment. But they dont know that this small increment is not going to solve their problems. Some people don't want to quit and start again, they become slave of money and blame their bosses.
Being rich or making money is a long process. It takes whole lifetime and can be learn with experience only. Rich Dad told them to avoid trap of pay rise, and dont let your emotions control your mind. They told Mike and Robert to keep working, regardless of their pay scale, and keep your mind active and always search for new ideas.
After working for few days Robert and Mike gets an idea of opening small library of comic books
Lesson 2: Why teach financial literacy 
Robert Kiyosaki talkes about assets and liabilities in 2nd lesson. There are many people who don't get these concepts at all. They think assets are things that have value. Like people think that their car is their asset but thats not true. You are not earning from your car.
According to Robert Kiyosaki, assets are things that are able to generate income for you. People must have find right assets and should turn them into income. 
In this chapter Robert Kiyosaki simply tried explain the concept of cash flow. Rich people always goes for more and more assets rather than liabilities, so they can generate more income.
Lesson 3: Mind your own business
In this lesson robert has given an example of MacDonalds. We all know that their business is selling burgers, but is it true really. They also choose the place for their franchise wisely, and this becomes their real assets over a period of time.
Robert Kiyosaki also talked about education system here.
Lesson 4: The history of taxes and the power of corporation
Here Robert Kiyosaki explain about how tax structure can be a burden on rich people or upper middle class peoples. He gave an example of Robinhood. As like Robinhood government takes from rich people and gives it to poor.
They also learn from their rich father, how to make a company or private organisation which will help them to save a lot of tax.
Robert Kiyosaki suggest that his rich father always says that Knowledge is power. You should have knowledge how to save tax and invest money or the government will rob you. 
Lesson 5: Rich invents money
In this lesson robert Kiyosaki described required characteristics of Rich and Successful person. The person must have technical knowledge and the most important A courage to take risk. If there is fear then the person won't be successful.
The Author gives the understanding of Investment. He teaches to find best opportunities for investment. They also have given few examples to elaborate this topic.
Lesson 6: Work to learn
Here Robert Kiyosaki says every person should work to learn, Don't work for only money. The author says that a person must learn how to manage company, people, flow of money and other important things. They want say a person must have expertise in management, marketing and communication.
Lesson 7: Overcome from the Obstacles
Robert Kiyosaki described 5 obstacles with their remedies to overcome from them.
  1. Fear
  2. Laziness
  3. Bad habits
  4. Cynicism
  5. Arrogance
Lesson 8&9: Getting Started
In these last two chapters Robert Kiyosaki describes how to start your own business? What are the things that you should consider? and so on. They also has given 10 steps of getting started.
  1. Find a reason
  2. Make daily choices
  3. Choose friends carefully
  4. Master a formula and learn new one
  5. Pay yourself first
  6. Pay your broker well
  7. Learn to get something from nothing
  8. Use assets to buy luxury
  9. Find heros
  10. Teach

What we think about this book

Rich Dad Poor Dad has total 220 pages and has 9 chapters and a introduction. This is the best book for people who wants financial freedom.
Doesn't matter what field your in, read this book once. It will provide you a guide how you should start with little things and make a great difference.
Reviewed by shopfun4.in




No comments:

If you have any doubts or suggestions please let me know

©2020. Powered by Blogger.