Not only books are a good source of knowledge but also enriches the vocabulary of the reader. I started reading books very recently with the purpose of improving my knowledge quotient of the English language. Among the handful of books which I read, I liked ‘Rich dad poor dad’ written by Robert Kiyosaki the most.
I like this book for the message it is trying to deliver. The motive of the book is to enlighten the readers about the importance of financial education. It talks about personal finance, entrepreneurship, business, investment and economics. It states that rich people buy assets whereas poor people buy liabilities. Poor people use credit cards or they buy houses or cars on a loan, thinking of them as an asset. However, for a long period of time, they will have to pay interest on them, as a result, they are barely able to save. In contrast, Rich people put money on sources where it grows such as – bonds, stocks, growing real estate or investing in businesses where their physical involvement is minimal.
It also talks about how we are trapped into this rat race of – start a day, go to work, earn money, pay bills, end the day and repeat. The book is trying to break this conventional wisdom and motivate people to not work for money instead let the money work for them.
The book is written in a conversational format where the protagonist is the son of a poor man and his friend is a son of a rich man. In the book, the protagonist has discussed the differences in the thought and teaching of his real – mentioned as his poor dad - and his friend’s dad – mentioned as his rich dad. His poor dad taught him to study hard, perform well in academics and get a high paying job. Whereas, his rich dad asked him to study so that with his learnings he can find a company to buy.
Overall, this book is an attempt to educate people about financial education and management. Books does have a lot of technical and psychological theories on finance along with financial jargon and definitions. But the story of rich dad, poor dad and kids kept me stuck throughout. In the end, what I learned is – How we can use our minds and time to define our destiny and financial success.
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