Have you ever wondered if there’s more to live than living paycheck to paycheck? Well, there is… Robert Kiyosaki’s Rich Dad Poor Dad is one of the world’s most renowned financial books for helping people to become more financially independent. He shows you that with the correct education, you can make money work for you and you will live a wealthy and prosperous life. The ideas of this book were revolutionary upon release. Even 20 years on, it shapes readers financial mindsets on to a more financially prosperous path.
Rich dad, Poor dad review:
The brilliance of this book is Robert Kiyosaki’s way of telling stories about his life, in order to introduce financial lessons. The book starts off telling us about his childhood. He lives in an average family in an average neighbourhood. His father taught him that to be wealthy and live a good life he must work hard in school to get a well paying and secure job (Poor Dad).
On the other hand, Robert spent much of his childhood with a close friend of whom had a father with different financial habits; Labelled rich dad. Although not rich at the time, he owned a few businesses and took calculated risks to grow his wealth rather than maintain where he was. He taught Robert the power of owning assets and using them to make you more money.
This is the main lesson from the book. In order to become rich, you must own assets and not waste your money on liabilities. He defines an asset as something that makes you money rather than a liability that costs you money each month. If you build up enough assets, you will eventually have enough passive cash flow so that you wont need to worry about money any more.
So many lessons to be learned…
There really are hundreds of great financial lessons to learn throughout this book. Three revolutionary and thought provoking ideas that I loved were…
- Fortune favours the bold. Although, not exactly mentioned in Rich Dad, Poor Dad. This is something I have also gathered from numerous other business books. In order to put yourself in the opportunities to become rich you must first take the chance to be in those situations.
- If you want to be rich, you need to hang out with like minded people. Poor people give you poor people habits, and rich people give you rich habits.
- Your home is not an asset. This is an idea that goes against most common beliefs. He argues that owning a home is a liability as it costs you money each month, rather than being able to rent it out to make you money each month. As long as renting is cheaper than mortgage payments, he makes a strong argument for renting over buying a home.
Along with these ideas, there are so many more lessons to learn. I’ve read this book more than twice through and still pick up new information each time. This book sets a brilliant mindset for building wealth and achieving financial freedom. Anyone looking to achieve a more financially free life should absolutely read this book, multiple times if they can.
Money Your Concern Rating:
Beginner entrepreneur: 10/10
Advanced entrepreneur: 9/10
This really is one of the best personal finance books I have read and would recommend it to anyone. If you like you can pick up a copy through the link below.
NOTE: The link above is an affiliate link and I will make a small commission (at no extra cost to you) if you make a purchase. This is to help support the running of the website.
Thanks for reading…
I hope you found this review useful. If you have any questions about Rich Dad, Poor Dad, let me know in the comments section below.
If you’d like to learn more about how you can improve your financial situation, be sure to check out the personal finance section of the Money Your Concern website. You may also like to follow my £1 a day challenge journey, where I aim to reach financial freedom with online business starting from the simplest step possible. Track my daily progress as I start from making at least £1 a day online, no excuses.
I hope you enjoy the book. Talk soon…
Harry
There’s definately a lot to learn about this topic.
I really like all of the points you have made.
Review my web-site … nordvpn special coupon code 2024
Have you ever thought about creating an ebook or guest authoring on other websites?
I have a blog based on the same ideas you discuss and would really like to have you share some stories/information. I know my visitors would value your work.
If you’re even remotely interested, feel free to shoot me an email.
my blog post – eharmony special coupon code 2024
Aw, this was an extremely nice post. Taking a
few minutes and actual effort facebook vs eharmony to find love online produce a very good article… but what can I
say… I procrastinate a lot and don’t seem to get nearly anything done.
Today, I went to the beach front with my children. I
found a sea shell and gave it to my 4 year old daughter and said
“You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed.
There was a hermit crab inside and it pinched her ear. She never wants to go back!
LoL I know this is totally off topic but I had to tell someone!
Also visit my homepage – vpn special
What’s up it’s me, I am also visiting this website daily, this site is genuinely good and the
viewers are in fact sharing nice thoughts.
Also visit my web-site – vpn special code
Thanks for sharing, this is a fantastic article.Really looking forward to read more. Fantastic.