Rich Dad Poor Dad

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What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not!

 
In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dad: his real father, whom he calls his ‘poor dad,’ and the father of his best friend, the man who became his mentor and his ‘rich dad.’ One man was well educated and an employee all his life, the other’s education was “street smarts” over traditional classroom education and he took the path of entrepreneurship…a road that led him to become one of the wealthiest men in Hawaii. Robert’s poor dad struggled financially all his life, and these two dads—these very different points of view of money, investing, and employment—shaped Robert’s thinking about money.

Robert has challenged and changed the way tens of millions of people, around the world, think about money and investing and he has become a global advocate for financial education and the path to financial freedom. Rich Dad Poor Dad (and the Rich Dad series it spawned) has sold over 36 million copies in English and translated editions around the world.

Rich Dad Poor Dad will…
• explode the myth that you need to earn a high income to become rich
• challenge the belief that your house is an asset
• show parents why they can’t rely on the school system to teach their kids
about money
• define, once and for all, an asset and a liability
• explain the difference between good debt and bad debt
• teach you to see the world of money from different perspectives
• discuss the shift in mindset that can put you on the road to financial freedom
 
 

LESSON 1: THE RICH DON’T WORK FOR MONEY
The poor and the middle class work for money. The rich have money work for them.
 
“Dad, can you tell me how to get rich?” My dad put down the evening paper. “Why do you want to get rich, Son?” “Because today Jimmy’s mom drove up in their new Cadillac, and they were going to their beach house for the weekend. He took three of his friends, but Mike and I weren’t invited. They told us we weren’t invited because we were poor kids.” “They did?” my dad asked incredulously. “Yeah, they did,” I replied in a hurt tone. My dad silently shook his head, pushed his glasses up the bridge of his nose, and went back to reading the paper. I stood waiting for an answer. The year was 1956. I was nine years old. By some twist of fate, I attended the same public school where the rich people sent their kids. We were primarily a sugar-plantation town. The managers of the plantation and the other affluent people, such as doctors, business owners, and bankers, sent their children to this elementary school. After grade six, their children were generally sent off to private schools. Because my family lived on one side of the street, I went to this school. Had I lived on the other side of the street, I would have gone to a different school with kids from families more like mine. After grade six, these kids and I would go on to the public intermediate and high school. There was no private school for them or for me. My dad finally put down the paper. I could tell he was thinking. “Well, Son…,” he began slowly. “If you want to be rich, you have to learn to make money.” “How do I make money?” I asked. “Well, use your head, Son,” he said, smiling. Even then I knew that really meant, “That’s all I’m going to tell you,” or “I don’t know the answer, so don’t embarrass me.” A Partnership Is Formed The next morning, I told my best friend, Mike, what my dad had said. As best as I could tell, Mike and I were the only poor kids in this school. Mike was also in this school by a twist of fate. Someone had drawn a jog in the line for the school district, and we wound up in school with the rich kids. We weren’t really poor, but we felt as if we were because all the other boys had new baseball gloves, new bicycles, new everything. Mom and Dad provided us with the basics, like food, shelter, and clothes. But that was about it. My dad used to say, “If you want something, work for it.” We wanted things, but there was not much work available for nine-year-old boys. “So what do we do to make money?” Mike asked.
Kiyosaki, Robert T. (2015-09-17T22:58:59). Rich Dad Poor Dad: What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not! . Plata Publishing, LLC.. Kindle Edition.

 

 

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Author

Robert T. Kiyosaki

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