Rich Dad, Poor Dad by Robert T. Kiyosaki Review
“What the rich teach their kids about money – what the poor and middle class do not!”
Kiyosaki’s “Rich Dad, Poor Dad” was one of the very first books I read on financial literacy and I’m surprised they don’t teach it in school. His book raised many, many important viewpoints when it came to how people handle money, creating a huge contrast between the wealthy and the poor. The book itself was written in easy to comprehend language as Kiyosaki went on to break down the reasons why many of us are stuck in the pay-check to pay-check crisis, using bad money habits as one of the main causes.
He also goes on to explain that one does not have to be born rich in order to become or even remain rich. Instead, he stresses that each and every one of us has the ability to create great wealth by simply using our most powerful tool: our mind.
Never say “I can’t afford it.” is what Kyiosaki would hear growing up. “That shuts down your brain. Instead, think ‘How can I afford it?’ (Kiyosaki, 2000)”
Education is the best thing your money can buy, but I am not speaking of degrees and masters. Despite having a college degree himself, Kiyosaki stands against idea we’ve all grown up to- that is go to collage, have good grades, get a job and work hard the rest of your life.
“I want to teach you to master the power of money, instead of being afraid of it. They don’t teach that in school and if you don’t learn it, you become a slave to money (Kiyosaki, 2000)”.
The author wants you to learn about how money works in the real life and how you can make it stay in your pocket, a topic which I know for certain wasn’t covered in my public education at all. Don’t get him wrong, he is not saying to quit your day job or slack of, but instead delegate your energy in order to put money into your own pocket first, then your employer’s.
“Money is one form of power. But what is more powerful than money is financial education. Money comes and goes, but if you have the education about how money works, you can gain power and begin building wealth. (Kiyosaki, 2000)”
Learn to budget, to save, to invest and purchase assets; things which put money into your pocket instead of liabilities, which drain it. Most importantly, pay yourself first- you’ve worked hard for your money, so why not spend it to further yourself first?
For me personally, this book came into my hands when I had less than $20 to my name. It forced me to come to terms with the fact that I am a terrible spender, something I’ve been avoiding for a long time now. I would always say “Oh, that’s okay, I guess we can have take-away tonight – let me check my savings”. Not only did this book make me see that I no idea how to manage my own wallet but it also showed me that I wasn’t doing anything to further myself financially. If I had kept going in that direction, I would’ve been forever broke.
“It’s not how much money you make, it’s how much money you keep (Kiyosaki, 2000)”.
“Rich Dad, Poor Dad” is one of the main reason I started this website. Kiyosaki truly believes that to fully understand something yourself, you must first teach it to others, which is exactly what I am doing. This book is an excellent starting point for breaking out of being broke and will aid you in understanding the basics of handling your money, just as it did for me. It certainly deserves the ‘money well spent approval’.
“To be a master of money, you need to be smarter than it. Then money will do as it is told. It will obey you. Instead of being a slave to it, you will be the master of it, That is financial intelligence (Kiyosaki, 2000)”.
*As a side note, after looking into reviews about Kiyosaki’s other books in the ‘Rich Dad Genre’, I’d be wary of purchasing others. Kiyosaki’s company also declared bankruptcy recently. However, I still believe “Rich Dad, Poor Dad” is an excellent read.