Rich Dad Poor Book Review

Robert Kiyosaki, Author of Rich Dad Poor Dad
Image Source: The Rich Dad Company : www.richdad.com

Getting Your
Finances Together

It’s hard not to hear about the book Rich Dad Poor Dad when talking about popular finance books. Even though it’s been around for awhile, there’s a good reason why it’s still considered required reading. Robert Kiyosaki doesn’t just teach you personal finance fundamentals, he provides a way for readers to shift their thinking about money altogether.

A Quick Overview of the Book

Written as a parable, where the narrator has two fathers and compares how his actual father didn’t do well compared to his rich dad. The poor dad is like those who are caught up in the rat race, trapped in a cycle of needing more but not being able to achieve their dreams of accumulating wealth. The rich dad, however, represents the wealthy who has learned personal finance knowledge (like accounting and generating assets) and used it to their advantage. They aren’t caught in the vicious cycle like the poor dad is.

6 Major Lessons

There are six major lessons Kiyosaki talks about in the book (some of which are in their own dedicated chapter):

1. The rich don’t work for money (they work to learn skills which can then be used to make more money)
2. The importance of financial literacy (learn why building assets are important to your financial future)
3. Minding your own business (as in, spend more of your time generating assets instead of spending)
4. Taxes and corporations (learning about how to reduce your taxes)
5. The rich invent money (learning about the mindset of the rich, and taking risks like learning to leverage debt to grow assets)
6. Overcoming obstacles (learning about the personality traits you should avoid)

The book can be summarized into two important concepts, which is having a can-do attitude and taking risks in entrepreneurship. There are lots of examples of those sprinkled throughout the book. One that is prevalent throughout the book is that there is a need for financial literacy and that learning to think about money so you can generate assets is the key to being wealthy.

How This Book Can Help Change Your Life

This book is inspirational, not only to those who are looking to build a business, but to those who also to improve aspects of their personal life. For example, Kiyosaki goes into five personality traits that can delay your growth: arrogance, bad habits, cynicism, fear, and laziness. He encourages everyone to squash those and to focus on creating a more positive outlook. In other words, look around you for opportunities to bring you closer to happiness. Whether that means building a business, cultivating relationships or freeing up more time, having focus can help you free yourself from negativity and create a life you desire.

Ultimately, what Rich Dad Poor Dad teaches its readers is that people can create choices in their life, and using financial intelligence to build assets that produce both passive income and portfolio income is the way to do it. When you have choices, it means you are really intentional with who you hang out with, the type of work you do, and other activities that don’t drain your energy.

What does this mean? It means you can free up your time to spend on what matters to you. If you’re sick of working all the time and not being able to see your family, having assets frees you from being a slave to your job so you can see them. It means you’re much happier, maybe even sleeping better at night so that those around you are happy too. It also means you don’t have to worry about money anymore, knowing that you and your family are well taken care of.

At around 200 pages, Rich Dad Poor Dad can be a fast read, especially with its motivating message. This book is the first book of a larger series, designed to open up your mindset to a new world of possibilities.  There’s no reason to not give this book a try.

Author: Sarah Li Cain

Money storyteller (aka content marketing writer) who writes about personal finance, investing, alternative investments, credit, small business, careers, loans, money mindset, retirement and debt.

Why the Rich Dad Poor Dad book is the first ever book review in Carve The Path Magazine 

This book is important, it is what we consider required reading for anyone who is pushing themselves to be an entrepreneur.  Getting your money right is important, it will change your life and the life of your family. Thank you Robert and Kim Kiyosaki for giving back to the entrepreneurial community.

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