Review of Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not

Noaih Drake, Staff Writer

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If you needed a book to get introduced to personal finance, Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not by Robert Kiyosaki is the one you absolutely need to read.  

The author, Robert Kiyosaki is a Japanese American born in Hilo, Hawaii on April 8, 1947. After graduating from Hilo High School in 1965, he went to the U.S. Merchant Marine Academy soon after; he graduated from the academy as a deck officer in 1969 and was honored with the Air Medal after serving as a gunship pilot in the Vietnam War. He left the Marine Corps in 1975 and tried his luck in failed business ventures until he retired at the age of 47. He established Cashflow Technologies, which runs two of his brands, Rich Dad and Cashflow. He also invested in several other successful business ventures since then.  

I will start by saying that this book will teach you about financial literacy, this book is easily accessible, and the language makes it easy to read too; I guarantee you this book will keep you reading until the end. Kiyosaki begins this book by telling us about the time he and his best friend Mike initially try to make money by literally making money, and then they worked for Mike’s father for some time, all at the age of nine. Robert and Mike later get the idea to make a library for comic books they got from Mrs. Martin and make a library for the comics since they cannot sell them.  

Kiyosaki compares his poor dad, his biological dad to those in the rat race; the rat race being a cycle for those who need more but cannot satisfy this need due to lacking one thing: financial literacy. His poor dad was well educated and learned about the world’s problems, but uneducated about money. His rich dad, Mike’s biological father who has little education compared to poor dad, is the few who do know about financial literacy and take advantage of the power of corporations. 

 I personally like this book and find this book to be a good introduction to personal finance because this book has a lot of gems throughout it, like how the rich make their money and how differently they handle their money as opposed to the middle and poor. Kiyosaki mentions how rich people use their money to buy assets and middle class and poor people do not, but instead invest in liabilities.

The book also touches on the importance of financial literacy, minding your own business, creating money for yourself, working to learn, and action you can take to ensure you become rich one day. In a way, I can relate to this book, especially the beginning. I tried to get into forex trading in august with a friend online, and it did not work out. At first, me and him blamed the guys who were more experienced for losing a good bit of money, but then I had to realize that they were not the reason for me doing bad. We had decided to find other ways to make money.