Will there be a few surprises? Count on it. and continue to rock more than a few boats in his retrospective. In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 25 years ago.Īs always, readers can expect that Robert will be candid, insightful. Sidebars throughout the book will take readers “fast forward” - from 1997 to today - as Robert assesses how the principles taught by his rich dad have stood the test of time.
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In the 25th Anniversary Edition of this classic, Robert offers an update on what we’ve seen over the past 25 years related to money, investing, and the global economy. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. Dont forget to share this with your loved ones. It will give you a clear direction to achieve success in your life. Rich Dad Poor Dad is Robert's story of growing up with two dads - his real father and the father of his best friend, his rich dad - and the ways in which both men shaped his thoughts about money and investing. Dont have time to read the whole book, Dont worry, here is the Summary of the Best Seller book 'Rich Dad, Poor Dad' by Robert Kiyosaki. translated into dozens of languages and sold around the world. It has since become the #1 Personal Finance book of all time.
This is a very enlightening and valuable book.April 2022 marks 25 years since Robert Kiyosaki’s Rich Dad Poor Dad first made waves in the Personal Finance arena.
This includes not taking the easy way out, choosing to become rich and carefully choosing the right friends to accomplish this, paying yourself first and your brokers well, using your assets to buy your luxuries, and giving, especially when you are in need yourself. The author encourages persons to take action to awaken the financial genius within themselves.
Now it’s the upper middle class which pays the taxes for themselves and the poor, for the most part. Whereas taxes were originally intended to punish the rich, it backfired. He touts the value of the corporation, in business, to the rich, since corporations cushion the rich from taxes. The rich buy assets, while the poor only have expenses, and the middle class have liabilities which they think are assets. The rich mind the income from their asset columns by growing it, while the poor mind the income from their expense columns (physical labour).
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To become secure, financially, a person needs to learn how to ‘mind your own business’. Your profession could be a salesman, while your business could be to acquire income-generating real estate. The book totes that there’s a difference between your profession and your business. To be financially educated you need to know about accounting, investing, markets, and law. He feels that financial education is the key to wealth – learning how to explore the differences between income and expenses, as well as assets and liabilities, and therefore increasing your assets (which also increases your income), while simultaneously limiting your liabilities. To him, simply, an asset is anything that puts money in your pocket, while a liability is anything that takes money out of your pocket. Rich Dad focused on increasing assets and limiting liabilities. Rich Dad emphasized learning about how money works, and letting money work for you. While he suched as both, they were really numerous when it worried managing funds. His very own dad as well as additionally the father of his pal. Poor Dad placed emphasis on getting a good education, getting a good job, so that they could work for money and earn lots of it. Robert Kiyosaki informs the tale of his 2 Dad’s in his youth years. The main difference between both Dads was their mindset – that is, on how money was looked at. The other was a high school dropout, but a smart worker who became rich and wealthy – the Rich Dad. The one dad was educated, a hard worker in the educational system, earning a lot of money, yet was always indebted – the Poor Dad. Both were very nice gentlemen, but they had different mindsets the difference being financial education. Kiyosaki had two dads. The title Rich Dad, Poor Dad is a little intriguing and almost sounds as if Robert T. This book is written by a man about his two dads who influenced him one was his biological dad, the other was his best friend’s dad. Review/Post Reading Time: 4 minutes Rich Dad, Poor Dad Book Synopsis / Book Summary.
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