Lessons From A Book For Company Owners – Rich Dad Poor Dad

4November 2020

One of the best financial advice books I have ever read. I highly recommend anyone who is looking to work towards financial freedom to read this book. I enjoyed the story line and am taking several principles of the book seriously as I re-evaluate my finances. I’ll list several of my key takeaways from the book below:

– Money is one form of power, but what is more powerful is financial education
– The poor and the middle class work for money. The rich have money work for them.
– Learn to use your emotions to think, not think by your emotions.
– Assets put money in your pocket. Liabilities take money out of your pocket.
– Don’t bury your failures. Recognize them and learn from them.
– Be charitable and give. You can give of your time, knowledge, and money. – — Give and you shall receive.

Overall, I would definitely recommend this book and know I will be referring many people in my life to read

Rich Dad Poor Dad is a 1997 book written by Robert Kiyosaki and Sharon Lechter. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude. Robert Kiyosaki followed the book with Rich Dad’s Cashflow Quadrant and Rich Dad’s Guide to Investing. He has at least a dozen books published.

Rich Dad Poor Dad is written in the style of a set of parables, ostensibly based on Kiyosaki’s life. The titular “rich dad” is purportedly his friend’s father who accumulated wealth due to entrepreneurship and savvy investing, while the “poor dad” is claimed to be Kiyosaki’s own father who he says worked hard all his life but never obtained financial security. However, no one has ever proven that Rich Dad, the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad Poor Dad in 1997.

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