Listen to Rich Dad Advisors Run Your Own Corporation, How to Legally Operate and Properly Maintain Your Company into the Future Free Audio books Trial. Dec 22, 2015 Rich Dad Poor Dad is a modern classic of personal finance and our favorite finance book of all time. Although the book is controversial and often takes criticism, people still believe it’s worth reading. Otherwise, it wouldn’t have sold over 32 million copies. Robert Kiyosaki tells the story of his two Dad’s in his childhood. PDF The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals (Rich Dad's Advisors (Paperback)) 2. DESCRIPTION If you're interested in real estate investing, you may have noticed the lack of coverage it gets in mainstream financial media, while stocks, bonds, and mutual funds are consistently.
- Rich Dad Poor Dad is not only a book of advice, but can be said to be Kiyosaki’s legacy. In his book, Kiyosaki mainly focused on teaching people how to achieve financial independence, drawing inspiration for his work mainly from his two dads, who were his role models, and from his mom who taught him love and kindness.
- The Rich Dad book series by multiple authors includes books Rich Dad, Poor Dad, Cashflow Quadrant: Rich Dad's Guide to Financial Freedom, Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!, and several more. See the complete Rich Dad series book list in order, box sets or omnibus editions,.
Rich Dad Poor Dad Summary
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“My Rich Dad said, ‘All of us have the power of choice. I choose to be rich, and I make that choice every day.’”Robert KiyosakiGet Started Now
This article is an excerpt from the Shortform summary of 'Rich Dad Poor Dad' by Robert T. Kiyosaki. Shortform has the world's best summaries of books you should be reading.
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What is the advice of rich dad vs poor dad in Robert Kiyosaki’s book? whose advice should you take?
The advice of Rich Dad vs Poor Dad is, of course, very different. The fundamental beliefs and practical advice of rich dad vs. poor dad can help you figure out the right course of action.
Rich Dad and Poor Dad
Growing up in Hawaii in the 1950s, Robert Kiyosaki had two dads. These are the differences between rich dad vs poor dad:
Rich Dad Yahoo
- Poor Dad: His biological dad, who was well educated (Stanford grad, PhD from Northwestern) but had the traditional mindset: work hard, get a stable job, and be financially conservative. The family did fine, but never made it to financial independence and left little to their kids.
- Rich Dad: His friend Mike’s dad, who didn’t graduate from high school and had his own financial ups and downs, but eventually built a local business empire and employed thousands. (believed to be Richard Kimi)
You can see the difference of poor dad vs rich dad cleearly.
Robert Kiyosaki got conflicting advice from rich dad vs poor dad on how to manage money, career, and financial risk. Ultimately he saw more wisdom and results in Rich Dad’s advice, and followed in the Rich Dad’s path.
While Robert Kiyosaki might really have had two dads, the more important point is that rich dad vs poor dad are a parable for two types of financial thinking.
- The Poor Dad represents the standard consensus view on work and money – go to school, get a good job and climb the ladder, prize stability over independence, buy a house, and spend money without a clear long-term plan.
- The traditional schooling system trains this style of thinking. (Plus, employers have the incentive to keep workers thinking this).
- Most parents belong to this system, so they pass it down to their kids.
- The Rich Dad represents what was then a more contrarian view – work for salary if you have to, but aim for financial independence; have your money generate more money; and take calculated risks boldly.
The poor dad vs rich dad traditional view worked better in the 20th century, when strong growth and decades-long employment meant stability was a viable strategy. Nowadays, pensions are rarely guaranteed; job security at a loyal employer is rare; professional education and academic success are no longer guarantees for security. This is one of the fundamental difference of rich dad vs poor dad.
But the traditional thinking is still common. Rich Dad, Poor Dad aims to shake readers out of their current passive path and taking a proactive strategy to building wealth and working for their best interest. Figure out what to do with money once you earn it, learn how to keep people from taking it from you, and make the money work for you.
Rich Dad, Poor Dad explores differences between the two dads on a few levels. The differences in poor dad vs rich dad are explained.
- Mindset: how responsible each felt for financial literacy and proactively making good financial decisions
- Strategy: how they allocated their income among assets and liabilities, how they perceived risk
- Tactics: how they set up their income to lower taxes, what investments they make
What Rich Dad and Poor Dad Say
Rich Dad vs Poor Dad look at the world differently. Here are quotes and perspectives taken from throughout Rich Dad, Poor Dad that exemplify their different mindsets and approaches to wealth.
So what is the difference between rich dad vs poor dad? You can see above that rich dad vs poor dad have very different ideas on how to make money, and what money means.
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Like what you just read? Read the rest of the world's best summary of Robert T. Kiyosaki's 'Rich Dad Poor Dad' at Shortform.
Here's what you'll find in our full Rich Dad Poor Dad summary:
- The key differences in how rich dad and poor dad approached life
- Why it's a terrible idea to buy an expensive house
- How to overcome your own mental blocks to become wealthy for life