Estimated read time: 2-3 minutes
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Rich Dad, Poor Dad by Robert T. Kiyosaki
Every few weeks I feel the need for a business book of some kind, a book on investing or money or ideas, just to keep my mind open to learning new things in this area. I'm surprised it took me so long to read Rich Dad, Poor Dad. I shouldn't have waited.
Yes - you will find some of the same advice in this book as you do in others. Truths like "pay yourself first" and "if you want to be rich, learn to be generous" are here as well. But those points warrant repetition and did not diminish my overall enjoyment of the book.
The author had two fathers - his biological father and the father of his best friend who was a surrogate father of sorts. One of his fathers had a Ph.D. and one only an 8th grade education. While both fathers worked hard, one died nearly penniless and the other was a multi-millionaire. One worked for money while the other made money work for him. One played it safe, while the other played it smart. The author's biological father, the Ph.D., is the one who died nearly penniless.
Rich Dad, Poor Dad is not a book for parents, although there is helpful information in it you will want to share with your children. It's a book for people who someday want to get out of the rat race. The book teaches the difference between an asset and a liability, and has me now seeing my home differently in that regard. It emphasizes the importance of tax structures like corporations and reminds us that there are great opportunities all around us - only some of us don't see them. It reminds us that the world is filled with talented poor people - that more than talent is needed to achieve financial freedom.
I recommend Rich Dad, Poor Dad for anyone wanting to expand their knowledge and motivation in this area. On the Book Beat for KSL Newsradio 1160, I'm Amanda Dickson.