Robert Kiyosaki’s book Rich Dad Poor Dad is one of the classics in wealth management. It is the Harry Potter of the personal money management world. This book has been a New York Times best seller and has sold over 28 million copies worldwide.
If you want to be rich then this book has to be your starting point. Several people dream about being rich but few people actually work hard at it and even fewer become rich. But what does rich really mean to you?
Robert, in this book discusses why rich people grow richer everyday and poor people grow poorer every day. The rich are rich NOT because they have extraordinary intelligence but because they think differently than the poor and the middle class.
Poor and Middle class families tell their kids to go to college, get a degree and then get a safe, secure job. They teach their kids to work hard for their money.
On the other hand, Rich people teach their kids to invest their money and have their money work hard for them.
In the book, Robert also says “Your house is NOT an asset. An asset is something that puts money in your pocket.” As we all know, a house does NOT put money in your pocket, it takes money out of your pocket in terms of taxes, maintenance, etc.
Furthermore, Robert also discusses several aspects of what the rich teach their kids like how to read financial statements. Many of us are never taught how to read financial statements in school or even in college unless we took a course in accounting or finance in college.
We are taught all kinds of courses in school like history, calculus, etc but never taught how to manage your money or read a financial statement.
If you are really committed to getting rich, you ought to read this book. It is one of the best books I have come across in my life time. I read this book way back in 2002 and I can confidently say that it has shaped my life in a big way.