Robert T. Kiyosaki is an American businessman, investor, motivational speaker, and author. He is best known for his book “Rich Dad Poor Dad,” which has sold millions of copies worldwide and is considered a classic in the personal finance genre.
Kiyosaki is also the founder of the Rich Dad Company, which provides personal finance education through books, seminars, and games. He has written numerous other books on personal finance and investing, including “Cashflow Quadrant,” “The Business of the 21st Century,” and “Rich Dad’s Guide to Investing.”
Kiyosaki is a proponent of financial education and the importance of developing financial literacy. He often emphasizes the importance of building assets that generate passive income, such as real estate, stocks, and businesses. His teachings have been both praised and criticized, and he remains a controversial figure in the personal finance community.
“Rich Dad Poor Dad” is a personal finance book written by Robert T. Kiyosaki, which was first published in 1997. The book describes Kiyosaki’s own experiences growing up with two fathers – his biological father, who he refers to as “Poor Dad,” and his friend’s father, who he calls “Rich Dad.”
Kiyosaki contrasts the financial teachings and philosophies of both men, and through his storytelling, he shares lessons he learned from both of them. He explains that “Poor Dad” believed in the traditional idea of getting a good education and working hard for a steady paycheck, while “Rich Dad” believed in building assets that generate passive income.
The book is divided into ten chapters, each with a different financial lesson. Kiyosaki uses anecdotes and personal experiences to illustrate the lessons, and he often includes advice and tips for readers to apply to their own financial situations.
Some of the key lessons from “Rich Dad Poor Dad” include:
- The importance of financial education: Kiyosaki argues that the traditional education system does not teach us how to handle money, and that financial education is essential for achieving financial success.
- The difference between assets and liabilities: Kiyosaki defines an asset as something that puts money in your pocket, while a liability is something that takes money out of your pocket. He encourages readers to focus on acquiring assets that generate passive income.
- The power of cash flow: Kiyosaki emphasizes the importance of cash flow, which he defines as the amount of money that comes in and goes out of your pocket each month. He encourages readers to increase their cash flow by acquiring assets that generate passive income.
- The importance of taking calculated risks: Kiyosaki argues that taking calculated risks is essential for building wealth, and that fear of failure often holds people back from achieving their financial goals.
- The value of entrepreneurship: Kiyosaki believes that starting a business is one of the best ways to build wealth, as it allows you to create assets that generate passive income and take advantage of tax benefits.
Overall, “Rich Dad Poor Dad” is a book that challenges traditional financial thinking and encourages readers to think differently about money and wealth. The book has been both praised and criticized for its teachings, but it remains a popular and influential book in the personal finance genre.