RICH DAD POOR DAD – ROBERT T KIYOSAKI AND SHARON LECHTER
Written by Robert Kiyosaki and Sharon Lechter in 1997, Rich Dad Poor Dad is based mostly on Kiyosaki’s young days spent in Hawaii. Enriched by Kiyosaki s personal experience and the teachings he received from his rich dad and poor dad, the book highlights different attitudes towards money, work and life.
Framed around six main teachings and lessons, the book is mostly a self-reflection.
Rich Dad Poor Dad Lessons
- Lesson 1: The Rich Don’t Work for Money.
- Lesson 2: Why Teach Financial Literacy?
- Lesson 3: Mind Your Own Business.
- Lesson 4: The History of Taxes and The Power of Corporations.
- Lesson 5: The Rich Invent Money.
- Lesson 6: Work to Learn—Don’t Work for Money.
Apart from the financial benefits, the book also describes and highlights the teachings he got from his poor dad, i.e., empathy and responsibility towards society.
Described as a personal finance book, it has not only challenged, but has also changed the way people think about money.
The book talks about Kiyosaki s background, his business ventures and investments and variation between possessions and liabilities and what importance they both have in terms of starting and owning a business.
It also sheds light on the teachings given by rich to their kids, which is usually missed by poor as well as the middle class parents and why it is important to have financial literacy over and above all.
Kiyosaki defines an asset as anything that puts money in your pocket. A liability is anything that takes money out of your pocket.
In 1997, Kiyosaki launched Cashflow Technologies, Inc., a business and financial education company that owns and operates the Rich Dad and Cashflow brands. Kiyosaki partnered with Amway to promote his book. As per an interview with Forbes, Kiyosaki’s main earnings come through franchisees of the Rich Dad seminars.
Best Books to Read and Listen 