Book Review-Rich Dad Poor Dad

Rich Dad Poor Dad - Robert T. Kiyosaki with Sharon L. Lechter

Recently, I’ve finished a book named Rich Dad Poor Daad which is one of the new york times best seller book. In this post, I wanna share some of my understandings from this book.

The main concept of this book is the 6 basic lessons are taught about money. One of the concepts I ever understand that rich man thinks differently than the poor and middle class. Need to change own’s point of view. In writer’s word —

“You’d best change your point of view. Stop blaming me, thinking I’m problem. If you think I’m problem, then you have to change me. If you realize that you’re the problem, then you can change yourself, learn something and grow wiser.”

“Learn to use your emotion to think, not think with your emotions.”

In the first lesson, the writer also simplifies the difference between emotion thinking and head thinking.

The second lesson is why we need to learn financial literacy. The first rule is to know the difference between an asset and a liability, and buy assets. Once we understand the difference, concentrate our efforts on only buying income-generating assets. Writer says —

Just remember the simple observation:

- The rich buy assets

- The poor only have expenses

- The middle class buys liabilities they think are assets.

The third chapter is to mind your own business. For example, If someone doing a job then, it’s a wise decision to keep another income source or investment which keep asset column strong. The writer also defines the true luxury in the last section of this chapter.

The fifth chapter is related to how rich invent money. To make money fast we need to grow financial IQ. But why? He also simplifies with proper examples.

“The most powerful asset is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”

“Great opportunities are not seen with your eyes. They are seen with your mind.”

Writer personally uses two vehicles to achieve financial growth: real state and small stocks. And he also does not recommend anything that he does. :)

The book contains also some other chapters.

I recommend this book because it is easy to read for beginners. Happy reading and enhance your assets column. ;)