Rich Dad Poor Dad is a personal finance book written by Robert Kiyosaki and Sharon Lechter. It was first published in 1997 and has sold over 40 million copies worldwide. The book teaches readers about the importance of financial literacy and how to build wealth.
Kiyosaki tells the story of his two dads: his real dad, who was a highly educated but financially struggling educator, and his best friend’s dad, who was a high school dropout but became a very wealthy businessman. Kiyosaki learned about money and investing from both of his dads, but he says that his rich dad taught him the most important lessons.
One of the key lessons that Kiyosaki learned from his rich dad is the difference between assets and liabilities. Assets are things that put money in your pocket, while liabilities are things that take money out of your pocket. Kiyosaki teaches readers to focus on acquiring assets and avoiding liabilities.
Another important lesson that Kiyosaki learned from his rich dad is the importance of financial education. He says that most people are taught to work for money, but the rich are taught to make money work for them. Kiyosaki encourages readers to learn about investing and to start investing early.
Rich Dad Poor Dad is a popular book because it teaches readers about important financial concepts in a simple and easy-to-understand way. The book has been criticized for some of its advice, such as recommending that people invest in real estate over traditional retirement accounts. However, the book has also been praised for helping millions of people to learn about money and to improve their financial lives.
Here are some of the key takeaways from Rich Dad Poor Dad:
- The rich don’t work for money; they make money work for them.
- The difference between assets and liabilities is crucial to building wealth.
- Financial education is essential for financial success.
- It’s not how much money you make that matters, it’s how much money you keep.
- You can achieve financial freedom by following the right path.
If you’re interested in learning more about money and investing, I recommend reading Rich Dad Poor Dad. It’s a classic book that has helped millions of people to improve their financial lives.