“Rich Dad, Poor Dad” book is the story of a person (the narrator and author) who has two fathers: the first was his biological father – the poor dad - and the other was the father of his childhood best friend, Mike – the rich dad. Both fathers taught the author how to achieve success but with very disparate approaches.
“Poor Dad”---His father was a school teacher with good degrees and a Ph.D. Yet, despite earning a good salary, he struggled with debt and finances his whole life.
“Rich Dad”. His best friend Mike’s father was a business owner who never finished eighth grade, but eventually became one of the richest men in Hawaii.
At the age of 9,Author Kiyosaki and Mike asked Rich Dad to teach them how to get rich. Rich Dad began their financial education through real-life lessons, for 30 years until Kiyosaki was 39 years old. In this book, The author Robert Kiyosaki presents six major lessons which he discusses throughout the book:
1. The rich don’t work for money
2. The importance of financial literacy
3. Minding Your own business
4. Taxes and corporations
5. The rich invent money
6. The need to work to learn and not to work for money
So let’s start, chapter 1- The rich don’t work for money & Chapter 2- The importance of financial literacy.
What the Rich Teach their Kids About Money that the Poor and Middle Class Do Not!
One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is because the subject of money is taught at home, not in school. Most of us learn about money from our parents. So what can a poor parent tell their child about money? They simply say “Stay in school and study hard.” The child may graduate with excellent grades but with a poor person's financial programming and mind-set. It was learned while the child was young.
