Rich Dad Poor Dad Book Review
What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!
By Megan Walls
The author Robert T. Kiyosaki & Rich Dad Poor Dad book cover from left to right
"Rich Dad Poor Dad'' by Robert T. Kiyosaki, a Japanese-American entrepreneur and businessman from Hawaii, offers strategies and tips to achieve financial freedom. It also aims to change readers' perspectives on money and its role in their lives. The author also eliminates the stigma of a one-size-fits-all approach to wealth accumulation.
As college students, work occupies a significant portion of our time, and with increased income comes the struggles with budgeting. This book is particularly relevant for college students and young adults who face similar challenges, in- forming them about the importance of financial literacy. This includes money management, investing, budgeting, and more to help them overcome financial obstacles. If you want to gain insight into the mind of a successful entrepreneur and learn how to set yourself up for financial freedom, then "Rich Dad Poor Dad’ is a book you shouldn't miss.
“Rich Dad, Poor Dad” will be a unique experience for each reader as we all have had different learning experiences. Kiyosaki breaks down the lessons, providing readers with a comprehensive yet simple guide to financial literacy and wealth building. The book is an easy read and a great option for anyone who wants to learn more. However, it presents some ideologies that young adults may not agree with regarding the education sector.
The book has eight enticing chapters, and as a student with limited financial knowledge, I found that each chapter taught me something new. Each chapter provided word definitions, study sessions, and illustrations. I have never finished a chapter confused, which is a standout feature of this book. Financial literacy books can seem intimidating, but with “Rich Dad, Poor Dad'', this isn’t the case.
The book’s eight lessons focus on breaking down the importance of financial literacy to help people become financially free regardless of their current financial standing. Lesson One examines the role schools play in shaping how we view our path to financial comfort. Lesson Two, entitled “Why Teach Financial Literacy'', highlights how our educational system doesn’t teach students how to handle money and why this is essential for our well-being. Reading Lesson Two helped me understand “Mutual Funds and Financial Aptitude” and highlighted the importance of understanding “it’s not how much money you make. It’s how much money you keep.”
In Lesson Six, “Work to Learn Don’t Work for Money” ties perfectly into the topic of college. The author challenges the notion that we should dedicate ourselves to a single area of work once we pick our majors. “Rich Dad, Poor Dad” emphasizes the importance of acquiring diverse skills rather than focusing on one profession. While some may agree that dedicating time to only one line of work is the best move, others prefer not to limit themselves. “Rich Dad, Poor Dad” explains why this is a viable and resourceful option for anyone want- ing to grow financially. These are just a few of the intriguing lessons offered within the book, and it would be worth delving into the ad- ditional six to gain more in-depth knowledge from Kiyosaki.
"Rich Dad Poor Dad'' by Robert T. Kiyosaki is a valuable resource for anyone looking to improve their financial knowledge and achieve financial independence. Kiyosaki of- fers a range of other books, such as “Rich Dad’s CASHFLOW Quadrant,” and “Rich Dad’s Guide To Investing'' to further extend the learning experience. Readers can also explore the principles of this book through the board game CASHFLOW, which is available online and on the Rich Dad Poor Dad website Richdad.com.
Overall, "Rich Dad Poor Dad'' reinforces the idea that even a little fi- nancial knowledge can go a long way, making it a must-read for those wanting to break out of the common cycle of living just to work, make money, spend money, and repeat. Or what Kiyosaki refers to as the “Rat Race.”
