Book Review: Rich Dad Poor Dad by Robert Kiyosaki

 

There are many inspirational books available in the market. The books which inspire your soul, the books which give you mantras to succeed in life and books about healing your wounds…

But there is one book, I only wish I had read this book when I was young or even better yet my parents had read this book! I wish I would have read this book fifteen years ago.

Yes, I am talking about Robert T Kiyosaki’s book ‘Rich Dad, Poor Dad’. This book is complete re-thinking of ‘How money works? That money which you earn for yourself and how it will flow in the market and how you can generate double or triple money by investing the same. I read this book when I became an entrepreneur and realized that Financial Literacy is more important. People struggle financially because they spend years in schools but learn nothing about how to earn money. The result is, People learn to work for money. They never learn to have money, work for them.

Our parents bind us in a middle class mentality from the beginning, “Work hard to get good grades in Academics, basis on which get a secured job, don’t take risks as you are the sole bread earner for your family. Save money and purchase a two-wheeler and throughout the life, installment for your dream home auto-debited from your account.

In this book Rich Dad Poor Dad, Robert T Kioyosaki emphasizes on 7 Principles.

1st Principle is that Rich don’t work for money. They acquire assets that make money for them. Most of the people are controlled by 2 emotions Fear & Greed. Life never talks to you. Rather, it gives sort of pushes by saying ‘Wake up’. Fears never allow you to take decisions. Fear of losing a secured job, fear of coming out from comfort zone.

2nd Principle is Financial Literacy.  Its not about how much money you make but how much money you keep. Rich people acquire assets while Poor people acquire liabilities. An audi is a liability whereas a 2 BHK is an asset. Increase your assets and reduce your liabilities.

Why Rich are becoming richer and poor becoming poorer? Poor earns money from ad hoc or from temporary job and spends his money in expenses like Taxes, Food, Rent, Clothes, Entertainment & Transport. Middle Class earn money from Job and spend in Taxes, Mortgages, Fixed expenses, Food, Entertainment & Clothing. While Rich Person generates income from Dividend, Interest, Rental income or royalties and spends it in making assets by investing in stocks, bonds, notes, real estate etc.

It does not matter that how much we are earning, which matters a lot is ‘ Where you are spending or utilizing that money and how?’

3rd Principle is Mind your own business. Rich people concentrate on real Assets. These fall into several categories like Stocks, Bonds, Mutual Funds, Real Estate, any business which don’t require your presence, where you are the owner but managed by other people. It can be a Blog, website or youtube channel as well. However, poor people concentrate on income statements like upcoming installment and how to fill.

4th Principle is Power of Corporation. Public believe in Robin Hood’s principle of looting the Rich and distributing among Poor. But Govy has imposed so much Taxes, GST that it has covered Poor and Middle Class. The Rich mend their ways off theses legal tax loopholes. The Rich hire smart lawyers, accountants and CAs so that they need not to pay higher taxes.

5th Principle is Rich invent money. Great opportunities are not seen through naked eye but seen through your mind. The Risk takers tend to make money and financially progress.. despite lack of intelligence.

We all have one personality within us who is brave, wise and intelligent. On the same time, we have another personality as well who is weak and in tough time, people go for begging as well.

Money can be invented with having Financial IQ, which is made by expertise in these 4 areas. Accounting, Investing, Understanding market and the law.

6th Principle is Work to Learn – Don’t work for money We have met many persons who are extra-ordinarily brilliant but earn less than $20,000 a year. A horrible theory is Employee works hard only because he wants to stay with the organization and owners give only that much that the employees will not leave.

Whatever you are doing, work to learn, not for job-security. Job is the acronym of ‘Just Over Broke’. You should know a little bit of lot of subjects. Focusing only on Job will prevent you from becoming wealthy.

7th Principle is Overcoming Obstacles There are 5 obstacles which hold you back in becoming rich. These are Fear, Cynicism (Self-Doubts), Laziness (100% Failure in lethargic approach), Bad Habits (Excess of TV & Social Media) & Arrogance (The belief that I know everything. I lose money because what I don’t know was more important).

These are the Seven Principles which are from Robert T Kiyosaki’s famous book ‘Rich Dad Poor Dad’. If you want to purchase this book and want to read it in detail, please go through the link http://ceesty.com/wJmP1r

You may Skip the Ad and this short-link will directly take you to Amazon’s Page.

15 thoughts on “Book Review: Rich Dad Poor Dad by Robert Kiyosaki

  1. Thank you so much for giving everyone remarkably wonderful possiblity to read from here. It can be very ideal plus packed with a great time for me personally and my office acquaintances to visit the blog no less than thrice every week to read the fresh issues you have. And indeed, I am usually contented concerning the astonishing advice you give. Certain two facts in this article are without a doubt the most efficient I have had.

  2. Thanks so much for giving everyone an extraordinarily memorable possiblity to read from this blog. It’s usually so good and also jam-packed with a good time for me and my office co-workers to search your web site the equivalent of thrice in 7 days to learn the latest guides you have. Of course, I’m just always amazed with the unbelievable suggestions you give. Selected 4 tips in this posting are easily the simplest I’ve had.

  3. I wish to get across my respect for your kindness in support of individuals that actually need help on in this situation. Your personal dedication to passing the message up and down turned out to be definitely invaluable and have without exception encouraged guys and women like me to reach their desired goals. Your new important guideline indicates so much a person like me and especially to my mates. Thanks a lot; from each one of us.

  4. My husband and i ended up being absolutely glad when Ervin could finish up his web research out of the ideas he got in your web pages. It’s not at all simplistic to just choose to be giving out solutions which usually other folks could have been making money from. We realize we now have the website owner to give thanks to because of that. The specific explanations you have made, the simple website menu, the friendships your site give support to create – it’s most remarkable, and it’s aiding our son in addition to our family know that this issue is pleasurable, which is certainly really important. Thank you for the whole lot!

  5. I needed to draft you that very little word to be able to give many thanks once again about the remarkable suggestions you’ve featured here. It is simply particularly open-handed of you to provide openly what some people could have offered for sale as an electronic book in order to make some bucks for themselves, most importantly since you might have done it in the event you wanted. Those advice in addition worked to be a great way to be aware that the rest have the same interest really like my very own to realize very much more regarding this condition. I think there are several more fun situations up front for many who find out your blog.

  6. I just want to say I am just beginner to blogging and site-building and actually liked this web blog. Likely I’m planning to bookmark your blog . You certainly have good well written articles. Many thanks for sharing with us your blog site.

  7. I needed to create you the very little observation to finally give many thanks as before just for the precious strategies you have discussed at this time. It has been so unbelievably generous of you to give openly what a number of people could have distributed for an e book to help with making some bucks for their own end, most notably considering that you could possibly have tried it if you wanted. Those ideas likewise acted to provide a great way to understand that some people have the same eagerness just like my personal own to know a lot more on the subject of this issue. I am sure there are some more pleasant times ahead for those who look into your blog post.

  8. I must voice my respect for your generosity in support of persons who absolutely need help with your area of interest. Your very own dedication to passing the message all-around has been particularly practical and has continually encouraged folks just like me to reach their objectives. Your own invaluable instruction entails a great deal a person like me and still more to my office workers. Thanks a ton; from each one of us.

  9. Thank you a lot for giving everyone an exceptionally superb possiblity to read from this website. It is always so superb and as well , jam-packed with a great time for me and my office co-workers to visit your web site at least thrice in one week to see the new things you have. Not to mention, I’m just at all times happy for the amazing concepts you give. Selected 3 areas in this posting are undeniably the most impressive I’ve had.

  10. I want to express my thanks to you for bailing me out of this particular circumstance. After exploring throughout the world wide web and getting ideas which are not powerful, I thought my entire life was done. Living without the presence of solutions to the problems you’ve fixed through your entire short post is a critical case, and those which might have in a negative way damaged my entire career if I had not come across your blog. That competence and kindness in taking care of all the things was crucial. I don’t know what I would have done if I hadn’t discovered such a subject like this. I can also at this point relish my future. Thanks for your time so much for the specialized and result oriented guide. I will not be reluctant to suggest the website to anyone who requires assistance on this subject.

  11. Thank you a lot for providing individuals with a very pleasant possiblity to discover important secrets from here. It is always very fantastic and also packed with amusement for me personally and my office acquaintances to visit your website at a minimum 3 times every week to read through the latest things you have. And indeed, I’m just usually fascinated concerning the wonderful inspiring ideas you serve. Some 4 tips in this posting are basically the most suitable we have ever had.

  12. I must show my passion for your generosity for individuals who really need guidance on in this issue. Your personal commitment to passing the solution all over came to be certainly advantageous and have continuously helped some individuals much like me to reach their ambitions. Your own useful report means a great deal a person like me and even further to my colleagues. With thanks; from everyone of us.

  13. I definitely wanted to construct a quick note in order to express gratitude to you for those pleasant tips you are giving out on this site. My rather long internet investigation has now been honored with pleasant concept to talk about with my partners. I ‘d say that many of us readers are unequivocally fortunate to exist in a fine community with very many wonderful people with very helpful basics. I feel pretty grateful to have used your web site and look forward to tons of more fabulous minutes reading here. Thanks a lot once again for a lot of things.

  14. I as well as my buddies have been studying the good points found on your website while quickly I had an awful feeling I never thanked you for those strategies. All the guys were as a consequence thrilled to see them and already have undoubtedly been tapping into those things. We appreciate you getting very considerate as well as for settling on certain really good information millions of individuals are really eager to be informed on. My honest apologies for not expressing gratitude to sooner.

Leave a Reply

Your email address will not be published. Required fields are marked *