I grew up differently from other kids because I had two fathers. One dad always complains of lack of money and the other complains of too much money. Having two dads gave me the opportunity to…………………………..” – Robert Kiyosaki
The title might be a little bit misleading because I am not writing a review about Rich Dad Poor Dad. I am actually writing about the lessons I learned from the book “Rich Dad Poor Dad”. Before I proceed, I want to encourage you to get the book Rich Dad Poor Dad and read it; you will thank me for recommending the book to you. The truth is this; this book brought me into the world of business and challenged me to take control of my financial future. I found my entrepreneurial spirit after reading Rich Dad Poor Dad.
“Control your destiny or someone else will.” – Jack Welch
Rich Dad Poor Dad Book Review
There are quite a lot of things you will learn from the book “Rich Dad Poor Dad.” Some of the lessons I learned are:
- How the rich invent their own money.
- How to take control of your financial future.
- The difference between Assets and Liabilities (Why your home is not an asset).
- How to start your business part time while still keeping your day job.
- How to escape the rat race.
- Lessons from seven multi millionaires who died broke.
- Why you must mind your own business.
- How to use tax to your advantage.
- Why you must work to learn, not work for money.
- How to earn more and pay less in tax
- The difference between earned income, passive income and portfolio income
- Lessons from two fathers, The Rich Dad and the Poor Dad.
I can go on and on spilling out the lessons I learned from Rich Dad Poor Dad; I can go on and on spilling out how this book shaped my financial life. But I won’t; rather, I will just share only three lessons from Rich Dad Poor Dad here on this blog. If you want to find out the rest; I will advice you get the book, you will be doing yourself a lot of good.
Rich Dad Poor Dad Book Review: What the Rich teach their Kids about Money that the Poor and Middle Class do not
Three Lessons I learned from the book “Rich Dad Poor Dad.”
1. The Rich invent their own money
Yes, believe it or not; the rich invent and print their own money. This is a chapter I cherish so much and I don’t think I will say anything on it because I will prefer you get the lesson directly from the horse mouth.
2. Mind your own business
This lesson is priceless. Rich Dad Poor Dad made me understand that no matter my profession or field of play, I should mind my own business. Illustrations and guides were given on how to keep your day job and start your own business part time. The author, Robert Kiyosaki also explained how he started his nylon and Velcro Company part time while still keeping his day job as a sales man for Xerox Corporation. The ultimate lesson here is that your boss will not make you rich; your job will not make you rich either, only your own business will.
3. Work to learn, don’t work for money
This caption might sound funny but there is a lot of sense beneath it. Don’t ever take a job because of the paycheck; take a job because you want to learn how things work. The reason a lot of businesses fail is because the entrepreneur’s primary aim of starting a business is to make money and be their own boss. Successful entrepreneurs and drop out billionaires such as Bill Gates, Warren Buffet and Oprah Winfrey all said that money should not be your reason of being in business because you won’t last long.
“I think a lot more emphasis has been placed on the money than need be, because I would have done this work for free.” – Oprah Winfrey
Rich Dad Poor Dad gave more than enough insight on why you must work to learn. I recall that the first business I started wasn’t for the money. After reading Rich Dad Poor Dad, I decided to take the risk and start my own business. My primary aim of starting a business was to get experience and develop my entrepreneurial skills. When I took this move, I finally realized that there is big difference between dreaming about starting a business and actually starting a business. I also came to understand that after the excitement of starting a business dies down; you will now face the reality of business by witnessing the highs and lows, the mistakes and its consequences, the wins and loses. But in the end, your greatest asset is going to be your experience. It is priceless.
As a final note, I will conclude this article by asking you this question. Will you like to spend your life working for money? Or you would rather have money work for you?