Book review:Rich dad poor dad by Robert .T.Kiyoski

Here we provide  book review of Rich Dad Poor Dad by Robert T. Kiyosaki. In this book author Robert T. Kiyosaki has given  the lessons about the mindset of rich people and what they teach their kids about money.

What the Rich teach their kids about money that the Poor and Middle class Do not !(Rich dad Poor dad)




                                                    

Why the rich are getting more richer ? What are the daily choices of rich people which makes them different from poor ? What rich people teach their kids about money that poor and middle class do not ? All these secrets gets opened up in one of the best selling book on financial education "Rich Dad Poor Dad" by Robert T. Kiyosaki. The book tells the importance of financial education for all those who want to become rich and enjoy the life they deserve. It focuses on the importance of building assets and reducing liabilities in one's balance sheet because assets puts money in your pocket while liabilities takes money out of your pocket. So one who want to become rich must be clear about the difference between assets and liabilities. 

The book goes in the story of the author Robert.T.Kiyoski who have a rich dad and a poor dad. The poor dad always says " Study hard and get a secure job".  He rarely talked about money and financial education, as a result he always struggled financially. While the rich dad taught him the importance of financial education and always says "Don't work for money. Learn to have money work for you". That's the reason why he was one of the richest person in Hawaii. One says that "The love of money is the root of all evil" while the other says "The lack of money is the root of all evil". 

Moving ahead, author says that you have two options- either work hard, pay taxes and save from what's left with any growth also being taxed or take the time to  develop your financial intelligence ? And then use your financial intelligence to find ways of creating more and more passive income. He also want us to learn about taking calculated risks when it comes to money rather than playing safe and not taking any risk. As Warren Buffet, America's richest investor says, " Risk comes from not knowing what you're doing." 

 

 The author further added, " What you choose to put in your head decides your future and almost everything in your life". He also tells about the cashflow game which he had invented so that people can learn faster by playing as he says,"Games are the instant feedback system". At the end of each chapter there are some questions which the author want we must ask ourselves to better understand the things. 

The book explodes the myth that you need to earn a high income to become rich and also shares the tax advantages which the investors and business owners enjoy. It also teaches you the power of making daily choices, association, self discipline and most important the power of giving. 

As I myself have gone through every chapter of this book, I strongly recommend everyone to read this and boost your financial intelligence. It's the best gift one can give to their kids so that they can be prepared for the challenges and opportunities of today's world and enjoy the rich life they deserve.  


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