Review | Rich Dad Poor Dad by Ameela Baloch

By Ameela Baloch

“The poor and the middle-class work for money. The rich have money to work for them.”

This sentence is from Rich Dad Poor Dad, written by Robert Kiyosaki, who is an American businessman and author born in 1947 in Hilo. He attended Hilo High School and graduated in the year 1965. He is the author of more than twenty-seven books. In 1993, he published his first book, “If You Want to be Rich & Happy, Don’t Go to School: Ensuring Lifetime Security for Yourself and Your Children”. He wrote Rich Dad Poor Dad in 1977 when he started his rich dad brand.

In the book, Kiyosaki argues that our education system trains people to be employees; they never train people to become entrepreneurs or investors.

It has become a popular personal finance classic. The book is based on Kiyosaki’s experiences growing up with two fathers. His biological father has a collection of degrees and diplomas, and his rich dad was a high school dropout and self-made millionaire.

They taught him to succeed but with a distinctive approach. His father focused on education and getting a high-paying job with benefits. At the same time, his best friend’s father was an entrepreneur who always taught him the importance of financial education, investment and business ownership.

Wealthy people always acquire assets that generate income; such that, real estate, stocks and businesses, whereas poor people always acquire liability, like buying cars and other luxury items that do not generate income.

In the book, Kiyosaki argues that our education system trains people to be employees; they never train people to become entrepreneurs or investors. Throughout his book, he encourages readers to switch their mindset from thinking like an employee to thinking like a business person. He also emphasize the importance of getting financial education and learning how to manage money wisely. The writer believes that assets generate income while liabilities effluents income. According to the author, wealthy people always acquire assets that generate income; in the book, he gives examples of real estate, stocks and businesses, whereas poor people always acquire liability, like buying cars and other luxury items that do not generate income.

Overall, Rich Dad Poor Dad is a motivational personal finance book that encourages readers to change their assumptions about money and provides practical advice for achieving financial freedom. I highly recommend that readers read this book.

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