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Greatness · 2023-04-17T15:47:59Z

Robert Kiyosaki is the author of the best-selling personal finance book "Rich Dad Poor Dad". The book, which was first released in 1997, has sold millions of copies worldwide as a result of its enormous popularity over time. The book offers readers insightful information about money, investment, and wealth-building while also serving as a narrative and financial guidance. We will examine the main ideas and takeaways from "Rich Dad Poor Dad" in this review, as well as how it has influenced readers' opinions on money and financial management. "Rich Dad Poor Dad" is a distinctive book that questions accepted beliefs about money and presents a new viewpoint on achieving financial success. The two "dads" that the author has in the book are his biological father (the "poor dad") and the father of his closest friend (the "rich dad"). Kiyosaki shares his experiences and thoughts on how to achieve financial success through anecdotes and lessons learnt from the two of them.Starting off, Kiyosaki emphasizes how his "poor dad" (his real father) had a conventional outlook on money. He was highly educated, put forth a lot of effort at a steady job, and thought that having a solid job and a decent education were the keys to financial success. Kiyosaki's dad, who was poor, struggled financially and lived paycheck to paycheck while having a high wage. His "rich dad" (his best friend's father) had a different perspective on money, though. He was an entrepreneur who concentrated on establishing assets and passive revenue sources to achieve financial freedom.Readers are introduced to a number of fundamental ideas that go against conventional wisdom in finance in this book. The distinction between assets and liabilities is one of the book "Rich Dad Poor Dad"s main concepts. According to Kiyosaki, assets are things that put money in your wallet, such as stocks, real estate, and businesses, while liabilities are things that take money out of your pocket, such as credit card debt, mortgages, and auto loans. He emphasizes the value of acquiring assets that can generate income and offer financial security and freedom.The significance of financial literacy is a further idea covered in the book. According to Kiyosaki, traditional schooling frequently falls short of imparting knowledge on investment and money management, which can lead to people making unwise financial decisions. In order to make wise financial judgments, he promotes self-education and exhorts people to study about money, investment, and financial markets.Kiyosaki also stresses the need of entrepreneurship and building several revenue streams. He thinks that one of the most effective ways to accumulate wealth and succeed financially is to launch a business or invest in assets that generate revenue. He discusses his own entrepreneurial experiences and offers helpful guidance on how to overcome obstacles and take charge of one's financial future.Additionally, "Rich Dad Poor Dad" emphasizes the significance of altering one's perspective on money. As opposed to being employees who work for pay, Kiyosaki exhorts readers to become investors who make money work for them. In order to be successful financially, he emphasizes the necessity for critical thought, taking calculated risks, and financial self-discipline. Analysis: "Rich Dad Poor Dad" is a thought-provoking book that upends accepted financial wisdom and offers readers a new way of looking at money and accumulating wealth. The writing of Kiyosaki's book is interesting and accessible, and his use of personal experiences makes the book simple to read and comprehend. Readers of all financial backgrounds, whether they are novice or seasoned investors, will find the book's conversational style and practical counsel to be approachable."Rich Dad Poor Dad''s emphasis on financial education is one of its advantages. As topics that are frequently neglected in conventional schooling, Kiyosaki emphasizes the significance of knowing about money management, investment, and financial markets. He offers useful advice and techniques to gain financial literacy and make informed financial decisions. This emphasis on self-education empowers readers to take control of their finances and build a solid foundation for their financial future.Kiyosaki also does an excellent job of explaining complex financial concepts in simple terms. He uses relatable anecdotes and real-life examples to illustrate his points, making it easy for readers to understand and apply the principles he teaches. For instance, he explains the difference between assets and liabilities in a clear and straightforward manner, which helps readers develop a better understanding of how to grow their wealth by acquiring income-generating assets and minimizing liabilities.Another strength of the book is Kiyosaki's advocacy for entrepreneurship and creating multiple streams of income. He shares his own experiences as an entrepreneur and provides practical advice on how to start an...

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Ernest

Dec 09, 2023 3:49 am

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Ernest

Dec 29, 2023 4:03 pm

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Interesting

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Deon

Jan 13, 2024 8:56 am

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Rich dad is now a debtor.
Poor dad is still poor 😏

An eye for an eye left thousands blind,
Remember that.........

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Jrd

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Jan 13, 2024 11:39 am

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Joined: 2027 years ago

Rich dad is now a debtor.
Poor dad is still poor 😏

Yet, he lives large. He declared his debt.
Do you know Dangotes debt? Do you know Nigerias debt?

Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. 💰

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Ernest

Jan 14, 2024 6:55 am

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Interesting

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