Review of ‘Rich Dad Poor Dad’ by Robert T.Kiyosaki
The Book in 3 Sentences
- Buy Assets not liabilities
- Learn Financial Literacy
- Don’t spend every single penny you make
Impressions
This book taught me SO, so much that I can’t put it into words. I want to say that it gave me a whole new perspective on money as a whole and really put into words how so many people can easily be poor, why it’s that way, and how to avoid doing the same yourself. It’s really simple once you read how Kiyosaki explains it.
If I could recommend any of the books that I’d read to anyone, it’d be both this and ‘The 4-Hour Work Week’ by Tim Ferriss — They’re truly life-changing.
As Robert T. Kiyosaki says, it’s not about how much money you make, it’s about how much money you keep.
Who Should Read It?
This book is a mandatory read for anyone at almost any age in my opinion. Truly teaches you how to manage your money and how to not find yourself running out of money at the end of each month, this book is a lifesaver.
I can name so many others that could learn a lot from this book and I’d to HIGHLY recommend this to anyone currently reading this review. If you apply some of the principles in this book to your life, your financial life will change significantly and I can promise you that — but I’ll say it again, ‘IF you apply some of the principles in this book to your life’. Nothing comes without action.
How the Book Helped Me
- Not feeling the need to spend every penny you earn, this is the single most reason why so many people are poor.
- Taught me to start creating an asset portfolio as soon as possible as that’s how you become financially free, and THEN use the cash flow from them to buy liabilities such as a car, etc rather than putting your salary money directly into liabilities.
- Once you make your initial deposit back on the asset you invested in, take it out and invest it into something else, therefore, making the original asset you invested in free. But you won’t always make money on your assets as they don’t constantly go up, so don’t expect them to always be green. As Kiyosaki says, ‘I haven’t ever seen a professional golfer not lose a golf ball or a rich person ever not lose money’, it’s how you respond to that loss that makes you successful.
