Book Review: “Rich Dad Poor Dad” by Robert T. Kiyosaki

What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Introduction

The 1997 book “Rich Dad Poor Dad” challenges preconceived notions about money and offers a novel viewpoint on financial literacy and the development of personal wealth. Robert T. Kiyosaki tells the story of his younger self who was torn between two mentors: his real father, whom he calls “Poor Dad,” and the father of his buddy, whom he calls “Rich Dad.” These two men had a big impact on Kiyosaki’s beliefs about money and investing by imparting to him their mindsets and methods for achieving financial success.

The Two Dads

Poor Dad

His biological father, Kiyosaki’s Poor Dad, was a smart man with a Ph.D. and a reliable career working for the government. Despite having a degree, he still had conventional views on money and success. He believed that receiving a solid degree and securing a secure career with perks and consistent raises led the way to financial security. He placed a strong emphasis on saving money, avoiding risks, and he despised the idea of investments since he saw them as akin to gambling.

Rich Dad