What the Rich Teach Their Kids About Money
What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! A #1 New York Times bestseller, Rich Dad, Poor Dad is a true story on the lessons about money that Robert Kiyosaki learned from his two "dads." One dad, a Ph.D. and superintendent of education, never had enough money at the end of the month and died broke. His other dad dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii. 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 Teach you what to teach your kids about money for their future financial success. In Rich Dad, Poor Dad , Robert Kiyosaki explains how to make your money work hard for you instead of you working hard for money. Rich Dad, Poor Dad is Robert Kiyosaki's first best-selling book. It advocates financial independence through investing, real estate, owning businesses, and the use of finance protection tactics. Rich Dad, Poor Dad is written in an entertaining anecdotal manner to make finances interesting. [citation needed] The most central element stressed by Kiyosaki is the advocacy of owning the system or means of production, rather than being an employee of someone else. Summary The book takes the form of a story. It is largely based on Kiyosaki's own upbringing and education in Hawaii, although the degree of fictionalization is disputed. Because of the heavy use of allegory, some readers believe that Kiyosaki created Rich Dad as an author surrogate (a literary device), discussed further in the criticism section below. Many readers believe that the "Rich Dad" in the book, is actually the founder of the "ABC convenient stores" which are found in the most populated areas of a number of the islands of Hawaii. The Poor Dad in the story is based on Kiyosaki's real father, a PhD holder and graduate of Stanford, Chicago, and Northwestern University, all on full scholarship, who was the head of the Education department of the state of Hawaii. In the book, he is greatly respected until he decides, late in his career, to take a stand on principle against the governor of Hawaii. This leads directly to Poor Dad losing his job, and his inability to find comparable work ever again. Because he has never learned to handle money, instead depending on the government (his employer) for support, he dies in severe debt. In contrast to this character is Rich Dad, his best friend Michael's father. Rich Dad dropped out in 8th grade, but became a self-made multi-millionaire regardless. He teaches Kiyosaki and Michael a variety of financial lessons, and insists that the boys learn to make money work for them to avoid spending their whole lives working for money, like Rich Dad's employees, as well as Poor Dad, and indeed most of the people in the world.
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Added: Jun 07th 2009
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