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Sunday, June 14, 2020

Rich Dad Poor Dad Book Review

The rich don’t work for money; they let money work for them. This is one of the major takeaway readers get from Robert Kiyosaki’s Rich Dad Poor Dad. The book starts with the introduction of the author’s two dads – the Rich Dad and the Poor Dad.

Rich Dad Poor Dad Book Review
Image Credits: Trade Brain

The Poor Dad is Kiyosaki’s own father who is portrayed as a highly educated man working as a school teacher but with a poor mindset. The Rich Dad, on the other hand, is the father of Kiyosaki’s childhood friend. Rich Dad is a highly successful businessman whom the author considered as his mentor on how to be rich.

It is not unusual for readers who are beginners in the genre of finance and self-help to find these topics to be too serious and jargonistic. Young readers who may come across Rich Dad Poor Dad, however, will find delight in reading the book especially as the narratives presented therein are peppered with relatable anecdotes from the life of the author. The conversational and candid voice of the book also does wonders in making the nuggets of knowledge easy to digest and remember.

Aside from the first lesson that the rich don’t work for money, the author further explains his theses throughout the book such as the importance of financial literacy, minding one’s business and building assets, understanding how taxation and corporations work, understanding cash flow and how to create money, and importance of working for knowledge and learnings as opposed to working for money.

Further, readers of the book will learn how to differentiate assets from liabilities. For one, did you know that your house, the one you are living in, is actually a liability? Most people believe that owning and living in a personal house is considered an asset when the same is, in fact, a liability.

There will be bills to pay, mortgages to satisfy, and maintenance costs to be shouldered when owning your own house. In sum, anything that does not generate income should be regarded as a liability even if it feels right to treat it as an asset.

Rich Dad Poor Dad Book, Robert Kiyosaki
Image: Amazon
Notable also is the way how the author impressed the lack of financial literacy subjects and learnings offered by the traditional educational system and institutions. Indeed, this has been a flaw in most of the learning institutions all over the world. This lack of offerings enables the traditional mindset that one must enter the corporate rat race in order to be rich and successful. It is unfortunate, truly, especially since it is easy to feel like you are in a hamster wheel the longer you work for nothing but your salary and the corporation you work in.

Anyone finishing this widely acclaimed finance book of Kiyosaki will definitely be left feeling inspired with a renewed vigor to achieving success and financial freedom. While seasoned entrepreneurs and businessman will find some flaws and points for complaints in the book and the narratives found therein, Robert Kiyosaki’s Rich Dad Poor Dad nevertheless remains as one of the foundations and must-reads for financial literacy and awareness.


Written by Mic Villamayor, IFY Books

At 27, Mic is staying young and keeping it real. A Mass Communication degree holder from the University of the Philippines, a graduate of San Beda College of Law, and a newly-minted lawyer, she aspires to work with her dad in their law office one day. In her daydreams, she always finds herself traveling the world and frolicking out in the sun. But reality comes up to her and she finds herself reading and writing for her future.

Blogsite: http://­­/

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