Rich Dad Poor Dad – A Detailed Review

One of the most widespread self-help and inspirational books, Rich Dad Poor Dad is an international best-seller on how to make money.

Written by Robert Kiyosaki, the book is all about what the rich teach their kids about money.

Here’s a detailed review of the book, taking you through what the book includes as well as how can it be of great help to the readers.

An Introduction to the Rich Dad Poor Dad Book

The title of the book refers to the two main influences in Robert’s life during his childhood.

rich dad poor dad

The ‘poor dad’ is his own father who worked at a regular job, while the ‘rich dad’ is the father of Robert’s friend, owning a spectrum of businesses.

The book explains how Robert learned the route to making money, specifically from his ‘rich dad’, while identifying the mistakes of his ‘poor dad’ concerning money matters.

It also showcases how the two men shaped Robert’s thoughts about finances and investing.

The Author

Robert Toru Kiyosaki is a well-known author and American businessman. Apart from writing Rich Dad Poor Dad, he is also the founder of the Rich Dad Company and Rich Global LLC.

The former is a financial education company that educates people in finance and business through the medium of videos, books and training.

How Does Rich Dad Poor Dad Work For the Readers

The book is mainly divided into six lessons that guide the readers through various ideas about making money, while also discovering that a lot of ideas about how you can make money are wrong.

Lesson I: The Rich Don’t Work For Money

The first lesson explains that the rich don’t work for money but to learn things.

Further, they apply those things to make more money as good ideas always more fruitful than good labor.

Lesson II: Why Teach Financial Literacy?

This lesson explains that an asset is not simply a thing of value, but something that generates money.

Assets are possessions that come with passive income, like intellectual or rental property.

rich dad poor dad

Lesson III: Mind Your Own Business

This chapter says that a financially sound person should spend their time not in spending their money, but investing it in assets as much as possible.

Lesson IV: Taxes and the Benefits of Corporate Bodies

The author talks about tax delays and tax dodges, explaining the advantages of giving money form a corporation instead of a person.

This minimizes taxation on several expenses related to money one makes independent of their job.

Lesson V: The Rich Invent Money

Here, Robert tells a story of an unbelievably amazing real estate deal wherein he made $40,000, that too in merely five hours.

The overall lesson is that one can invent money.

Lesson VI: Work to Learn and Don’t Just Work For Money

This chapter says that the key to getting rich is to learn when you’re at work, because it can help you discover or build new methods of starting your very own business.

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The Pros

The book is undoubtedly, easy to read and comprehend, as it has such a great story.

The readers find it quite insightful and entertaining to learn Robert’s story and how he got to know so much about money.

There are some amazing things about finance that have been taught in a highly simplified way, taking the readers through a whole spectrum of ideas at the same time.

The Cons

Although the book doesn’t come with any major cons, some readers find that the book is lacking some practical steps to climb the ladder of success.

While the last chapter includes a few helpful steps to follow, they don’t seem very clear for everyone to comprehend.

Conclusion

Everything that Rich Dad Poor Dad has to offer works wonders for improving one’s perspective towards money and start thinking exactly as the rich do.

The interesting story, the simple approach, and the insightful pieces of advice transform the whole thought process of your mind.

Overall, the readers experience a drastic change in the way they perceive money and how to gain it, and it won’t be an overstatement to call it one of the best books that point out major limiting beliefs that hold one back from getting rich.

Rich Dad Poor Dad - A Detailed Review
Rich Dad Poor Dad - A Detailed Review 1

One of the most widespread self-help and inspirational books, Rich Dad Poor Dad is an international best-seller on how to make money.

Editor's Rating:
4.5