A lot of people have read Robert Kiyosaki's books (and he has a lot of them)
but this is the one that started them all.
I think what endears people to Rich Dad Poor Dad is the story. It seems to me that whenever a non-fiction book teaches with stories
it does very well. So
if you're going to write a non-fiction book
weave your info into a story.
Rich Dad Poor Dad is the story of Robert learning the habits of the rich from his best friend's dad. Robert's own dad was a highly paid
highly educated government official
but who ended up poor (this is his "poor dad"). His best friend's dad was not highly educated
but he started lots of businesses
bought lots of real estate
and invested in stocks. He is "rich dad".
Some lessons or themes that keep coming up:
*School prepares you for a job while financial education prepares you for better financial habits that lead to a more prosperous life
*The rich invest in ways that the poor and middle class do not
*The rich invest in assets that produce class flow
and then reinvest that cash flow into other assets
*The poor invest in liabilities
or things that take money out of their pockets
*The middle class tend to go to school
get a job
buy everything on credit
get raises
then buy bigger houses and nicer cars
under-save and under-invest
and then retire on less than what they should have.
*There are 3 kinds of income:
-Earned income (what you make when you're there)
-Passive income (money that comes to you when you're not there...that can come through businesses
real estate income
intellectual property
etc)
-Portfolio income (money that also comes when you're not there...but specifically from stocks
mutual funds
and other such paper investments)
As it turns out
Robert didn't go on to become a rich guy too soon into his adult years
like his best buddy did. Robert went into the Navy to learn how to sail ships
then to the Marines to fly helicopters in the Vietnam war. I might have the timeline wrong
but he he was a top-selling Xerox sales rep for several years. And then he went on to start a successful business importing/selling those Velcro nylon surfer wallets from the eighties. Remember those? After a few years
that business went bust.
Eventually he made the jump into buying assets...income producing real estate...and within 8 to 10 years
he and is wife retired. Then six months later he came out of retirement to start his financial education business...which includes his books
board games
tapes
seminars
etc. In reality
it sounds like he's started a whole ton of other businesses too
but that's what I've pieced together from other books of his that I've read. Notice that most of his activities center around passive income?
It's a great and easy read and should shock you out of your usual way of looking at money. Another one of his books that I like a lot is one he didn't even write by himself...aptly named "Success Stories". It's a collection stories by many of Robert's students that have taken his advice and who started businesses or are collecting assets that produce cash flow.
There's so much more that can be said
but it's time for you to start the adventure of reading a new book. Try to think of "Rich Dad Poor Dad" as financial education; it will make the purchase that much easier to justify.
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