Summary of Rich Dad, Poor Dad Rich Dad, Poor Dad written by Robert Kiyosaki is the story of Robert as a young man learning the money lifestyle. Kiyosaki had two fathers, his biological one and his best friend, each of them taught him different things about how important money is and what he should do with the money when he gets it. This book teaches wealth, which does not necessarily mean rich; you can be rich with assets and investments, not just money. Kiyosaki's rich dad used to say: let money work for you, don't work for money. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay The book Rich Dad, Poor Dad begins with Robert Kiyosaki describing his youth with his two fathers. Kiyosaki had a rich father and a poor father, one was highly educated and the other was a high school dropout, one was his real father and the other was his best friend's father. Kiyosaki's real father was the highly educated one with a PhD, he was also the poor one, and his other father (his best friend's father) had dropped out of high school and become one of the richest men in Hawaii. They both wanted their children to get a good education and find lucrative jobs after college. But the poor dad saw a lucrative job as one that his son could work for and have good benefits to be stable in the future. His wealthy father saw a profitable job as one Kiyosaki could own, to invest his profits and have assets, not liabilities. Kiyosaki's poor father wanted the best for his son, but his way was the traditional way of going to school, getting a good job to pay the bills. and rely on Social Security for retirement. This way poor dad remained poor, constantly paid bills and died in debt. Kiyosaki realized the path he was on at a young age, so he and his best friend went to his best friend's father (his rich father) to learn six lessons (below are the six lessons, with rich dad top quotes) to become financially rich. The first lesson was Rich People Don't Work for Money, which focused on how he was taught to spend money. If schools taught people about money, there should be more money and lower prices, but schools only focus on teaching people to work for money, not on how to harness the power of money. The second Why Teach Financial Literacy teaches: Rich people buy assets. The poor only have expenses. Busy middle class liabilities think they are assets. The third Mind Your Own Business focuses on business. Keep your day job, be a great hard working employee, but keep building that asset column. The fourth, The History of Taxes and the Power of Corporations, points out that the reason the middle class is so heavily taxed is because of the Robin Hood ideal. The reality is that the rich are not taxed. It is the middle class that pays for the poor. The fifth Rich people invest money states: Most people work hard and save money, but people need to invest in assets instead of letting the money sit and earn only little interest. The sixth Work to learn – Don't work for money reveals that to have money it is necessary to give money. To be truly rich, we must be capable of both giving and receiving. When experiencing financial or professional difficulties, there is often a lack of give and take. After all, his rich father taught Kiyosaki how to be financially literate,.
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