Mar 28, 2021 - Rich Dad Poor Dad – A Quick Book Summary and Review AUTHOR: Robert T. KiyosakiUSA First Edition: 1997ABOUT AUTHOR: Robert T. Kiyosaki (born April 8, 1947) is a Japanese American investor, self-help author, financial literacy activist, motivational speaker, businessman and occasional financial commentator Main Content of This Book is: Money and its applicationinvestments • this book has been translated into many language’s.• the main aim of this book is to tell the application of money to develop wealth. “If you don’t find a way to make money while you sleep, you will work until you die.” Warren Buffett: Mistakes of poor dad which him in a poority forever Things that stop you to become rich and how to overcome Steps to achieve financial freedom CHAPTERS WITH SUMMARIES • Robert T. Kiyosaki: has two influential people in life• He calls them as his fathers Poor dad – (biological father) Rich dad – (friends father) • In reality his father was not that poor. It’s just the authors perspective and storytelling experience• It won’t mean that he won’t earn money or something .it means rich dad doesn’t work very hard for a daily wage. In general rich people just find the way money works for them.• I know this is a bit complicated I will make it simple. Every time we earn the money we keep it in a bank and else we invest every time we invest we get some interest that should be more than the countries inflation rate (growth rate) otherwise, your money is depleting (decreasing its value)• Example if you forget 100 rupees on the shelf or somewhere after a year your money values less mean the value you were getting last year is more than now• In general countries like India inflation rate is around 6% means you will be getting 94 rupee value this time. In countries like the U.S inflation is around 2.5 and the same. #1 – RICH DAD DON’T WORK FOR MONEY • And the author tells about jobs focus will be on short term capital gain so there will lack long term goal achievement.• So its fear of people keeps them working at a job.• Fear of missing out (not paying bills etc…)• And this tells us working for money makes slaves to the money they get from job. #2 – FINANCIAL LITERACY Still continue……. TOMORROW
