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The 1997 book Rich Dad Poor Dad is an important guide to building a successful financial future. It teaches the importance of financial literacy and the ways to start a business. The authors encourage financial independence and building wealth through the use of assets. In particular, they advocate real estate investing and starting a business. The book offers many ways to achieve financial success. If you're considering purchasing a copy, here are some tips to help you get started.
Robert Kiyosaki's father
When reading the book I immediately felt intrigued by the story of his rich and poor father. Like many entrepreneurs, Robert Kiyosaki's father has struggled with money throughout his life. After two years, he was feeling hopeless and determined to change his circumstances. After hearing about his father's successful business, he decided to meet him. The two men began their lessons, and Robert Kiyosaki immediately felt inspired to follow in his footsteps.
Before reading " Rich Dad Poor Dad" I began to wonder if I should follow in the footsteps of this man. I was not a child when my father became wealthy, so I decided to find out what he did to achieve success. Despite what many people think, Robert Kiyosaki is a living example of how to succeed in life.
His father's advice to him
In his book, Rich Dad Poor Dad, Robert Kiyosaki tells of two very different fathers. One had a Ph.D. and completed his undergraduate degree in two years while the other was a lowly eighth-grade student who struggled with money and eventually became one of the wealthiest people in Hawaii. The two fathers often compared their experiences. One had a high-income job, while the other struggled with money. Despite the difference in their backgrounds, the advice they gave each other proved very useful to their own lives.
Richard Simmons also gives additional financial advice to his son, such as buying real estate with no money down, or starting a business with little or no capital. He suggests getting out of bad habits and learning new ones. The critic of the book, John T. Reed, argues that the advice in Rich Dad Poor Dad is mostly wrong. Yet the message is universal. A child who reads Rich Dad Poor Dad is likely to be able to achieve financial freedom and wealth.
His father's advice to his friend
The author compares the lifestyles of rich and poor fathers, demonstrating how different their views on work and career are. He asserts that the rich aren't really taxed much, and uses numerous examples to back this up. It is interesting to see that Kiyosaki's father also lacked financial education, which is a major flaw in the Rich Dad Poor Dad philosophy.
In the twentieth century, wealth and security were easy to attain because economic growth was strong and there were decades of employment. Today, pensions and job security with a loyal employer are few and far between, and education no longer guarantees a decent salary. Kiyosaki's approach emphasizes that financial independence is possible, and that working for other people doesn't guarantee it. As such, the Rich Dad philosophy is more realistic, as Kiyosaki argues.
Kiyosaki's father's advice to him
Robert Kiyosaki had two influential father figures who shaped his financial outlook when he was a child. The first one, a doctorate, was the richest person in Hawaii while the second had no college education and never got out of the eighth grade. Both had their share of financial challenges and were advised to get a college degree in a specialized field to secure a high-paying job with benefits at a big company.
When he was nine years old, Kiyosaki's father discovered that he was melting toothpaste tubes into fake nickels and offered to pay him ten cents an hour for three hours of work every Saturday. This idea didn't pan out and Kiyosaki quit his job. However, his poor father explained to him the laws of counterfeiting and how to avoid them.
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