Rich Dad, Poor Dad' and Robert Kiyosaki's Lessons Leading to Wealth

Author Biblography

Robert Kiyosaki who wrote using Sharon L. Lechter 'Rich Dad, Poor Dad' was born on 8 April 1947 in Hilo, who was in the area of Hawaii at the time. He is the oldest son of Ralp H.Kiyosaki and Marjorie O. Kiyosaki. His father was an academic opfeeder while his mother was a nurse. Robert has 2 sisters and one brother namely Emi, Beth and John.Robert not only reached an even sudden success. He attended Hoërskool Hilo and finished in 1965.

He did not begin to write equally suddenly after school, but he had rather joined the United States's Merchant Marine Academy in New York and graduated in 1969 as a cover officer with a degree in science. After university, Robert received a job at Standard Oil's, but after six months he decided to resign and rather join the Marine Corps. Robert, there worked as a helicopter pilot in 1972 during the Vietnam War, but afterwards he received an Air medal for his hard work. He enrolled for an MBA programme in 1973 at the University of Hawaii in Hilo for two years while still part of the army. In June 1974, the Army let him go, but in June 1978 N N received a job at Xerox as a sales fellow. He also says that he attended the Erhard EST seminars, and according to him it all changed his life.

Robert's first success as a businessman was when he started his first business in 1977, named 'Riabs'. The business made the first-standing wallets known now as nylon or velcro surfer wallets. His products were available about everything. It was available is Run's World, Success Magazine and Playboy, but his success has not been held long, because later the business was bankrupt. Although his first business became bankrupt, it did not stop Robert. He started a small undertaking that sold T-shirts, hats, bags and wallets, but the business also became bankrupt.

In 1985 before he married his new wife, Kim, he established an institution that is a platform where you can learn from investments and social responsibilities. Kim also invested in a few properties in Phoenix.Robert shortly thereafter sold the institution and instead posed his attention to writing books. He published his first book in 1992 ('Be Rich and Happy, Don't Go to School'); he tried to encourage parents not to send their children to universities, but rather introduce them to the business world.

Robert was founded in 1997 a new business, namely 'Cashflow Technologies Inc.Die business' had been begging rich dads and the markets of money flow. He soon helped Amway to promote his book and through an interview with Forbes Robert said that he had received most of his money through Franchise's.

Robert also had a 2102 business named 'Rich Global LLC', but it also became bankrupt. Robert also assisted Tom Wheelwright during the year with the publication of his book 'Tax-Free Wealth'.

Robert said in his book 'Rich Dad, Poor Dad' that there is a big deal between burdens and assets and that many people do not know what it is or know how to differentiate the two. Robert explains that assets are put to money in your pocket while burdens take money from your pocket.

Summary

The book 'Rich Dad, Poor Dad' is about Robert Kiyosaki's life from he was little. The book describes how he had two dads. The one was his biological father who was going to study, got a degree and now works as a teacher. His other father (Richard) is not his biological father, but rather his best friend's biological father. He was also going to study, but he stepped into the business world when he finished graduating. He owns many small and large institutions or businesses and makes a small house full of money. The book is not just about how he grew up, but also about the great influence both of his dads had on his life.

His biological father was not rich and believed that you should go to school, learn, study and then get a good job that is safe. He also taught Robert that money is not everything, but his other 'father' actually taught him the opposite. He also said that school is important, because this is where a child's brain began to form, but where he differed was that he taught Robert that you should not earn a lot of money to be rich, but you must see the risks in matters and know when you need to invest money in certain businesses or matters.

He also taught him that as a person, you should not work for money, but you must make money for you and that you need to know as induvidue the difference between liabilities and assets. You should not use money on things you are not sure about. You should know if it is an asset or liability, because if you use money on a load with the idea that it is an asset you are going to not put money in your pocket at the end of the day, but you will more lose more at the end of the day and your money in your pocket will only become less. His best friend's father not only taught him how to work with money, but also how to spend it and on that. Robert also taught that tax can take a big bite from your salary and that it just becomes more how higher your paycheck becomes.

Many employees think that the harder they work the more money they will make and this is true in certain cases, but they actually make the person richer that is on top of the 'food chain'. Assets also lose much value if you purchase what it does not make as valuable as you thought. In The book, they refer to the example of a car. If you buy a mote new car, it loses 25% of its value when you drive it down to the transaction. Robert also says that we have to buy businesses where we do not need to be present at all, because then it is no longer our businesses but rather our work. He also says that a business should be built, or grown that if you insert money into an asset, the money should not come out again, but only add more to it. He furthermore says that everyone has potential, but the root cause of people who do not take risks or not grow by certain situations is because we doubt in ourselves.

Robert also said in his book that your brain is the most important asset in your life, because if you continue to practice it then you can become very rich. He says that there are three categories where the management of a business can fall. The first one is managing your money and for what it's used and why. The second one is the management of your system and the third category is the management of your employees and other people outside your business. In the part of the book, Robert explains what the difference between wealthy people and poor people is and what makes them so different. He has five reasons why there are rich and poor. The five reasons are fear, cynicism, arrogance, laziness, and bad habits. Many people do not touch rich, because they are too afraid to take risks and they are also afraid that they lose everything if they do. That's why they only stay poor or become poorer.

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Robert's rich father taught him that you should be a bit of signaling to get good or to achieve success and if you were overcoming this sloth. He also said that there is money in every situation, but not all of us do not see it or would not take the risk of getting it. He also explained that you should be yourself and not have to look at others ' success or how they do well, because it will not make you happy and half of the time also not richer.

Richard tried to leave one lesson behind for them and it was that you would have to give first what you want and then you'll double it up at the end.

Robert's Lessons That Would Lead to Wealth

Richard left six ideas behind for Robert. Die first one was that you should not work for money, but money must work for you. Robert did not understand it at the beginning, but later realised what he was trying to explain. He said that if you want to intercede in the business world is the easiest and most secure step, to take first is to buy or start in businesses and manage it so that you don't have to be there. That the business is still making money and achieving success without your presence, because if you're going to be there all the time, it's not your business, but rather your job. So so is the Richard's first lesson he learned for Robert. Rich people don't work for money, but money works for them so you do not need to be present at your business to make money.

Richard has not been voted together with Robert's biological father in the event of education that is important, because he knows the formation of a child at school level, but schools should not only learn children from history, biology and physical, but also of finance, because if they have finished graduating and it is time that they are introduced to the great human world , then they are not quite prepared. Schools aim is to create good employees instead of creating good employers who know how to work with money, in which aspects you need to take risks and how to ensure you do not lose money.

His third lesson is that you should rather start your own business than work for others, because you should rather focus on your own assets than on someone else's. He also explained that even though you work harder and become your salary little more you still do not work for yourself, but for someone who is at the top of the food chain, so you should invest your money rather in assets such as properties and stocks, because you can then cross a greater portion in your pocket than what you do if you work for someone else , because then you just put more money into your employer's pocket than in your own.

The problem of working harder for someone else is that that piece you put into your own pocket at the end of the day is taken away because of beslasting so so you're still making the same or less than you did even though you've worked harder. Tax was a way in which the wealthy could be punished, but we rather punished the middle class and the poor. Assets also play a major role because if you buy assets that you will benefit a lot, you also pay a small house full of money. That's why the rich are not hindering them through the system and that's why Daat four areas are how you can improve your assets and protect the same time. Therefore, it is bookkeeping, investment, markets and understanding of their assets.

We as poor chariot for opportunities while making the rich opportunities for themselves, and that is where we give up, because we doubt ourselves and think that we must follow in others' footsteps while we need to create new pabrots for ourselves. We need to stop doubting ourselves and our abilities and start taking risks because if we don't, our whole life is going to be just a search for opportunities that never will beat us through. Rich believe not only in hard work, but also to strive towards opportunities and explore options that may lead to success.

Lesson six is that our work is looking where we can learn something from and not work from which we will earn, because we need to focus on management and communication in a business. Schools teach us how to seek opportunities and not to make them and that is why there are so many poor and so little wealthy, because we do not make our own paths and we look more at other people's success before we look at ourselves and think how we can achieve success on our own. Richard also says that NS must learn financial skills so that we can achieve success. He also says that you are looking as an employer to sales and marketing skills so that you can achieve a final freedom. Rich see money as a concept other than the poor. They see it not just as a serving you deserve for that time, but a serving that needs to grow to get bigger and they know how to manage that serving. Richard also explained that your daily decisions on finance should be done with the thought of what effect it will have on your future and not just the benefit it's going to hold for you now. Mostly people become poor because even though they have invested money and that it has grown, they do not know how to be responsible for it and on what they need to spend.

Opinion

I think this book was very detailed and that every lesson and reason was well-described. I have learned a lot about finances and what influence it on our daily lives and I also realized that though someone is driving the latest car on the market or wearing the most expensive products it does not mean that he is rich. His life can be fossilified as rich, but his bank account cannot show so. We as teens have this great preeception on wealthy people. They have the latest and most expensive stuff on the market, drive a nice car and can provide for everything and then we don't understand why our parents don't have the same, but our parents' accounts are perhaps more than the rich person's, but they invest their money in the wrong matters.

The rich man or woman invests his money in businesses or institutions while the poor invests money in school, food on the table and a future for us after school. The thing is we are learning how to make money in school rather than how we can use it and how we can grow it so it becomes more. The poor people invest money in burdens with the thought of being assets and therefore they take more money out of their pocket than they are sitting back while the rich money invests in the right situations or on the right assets and make more money than they have taken off at the start. Rich should also provide for food, school and other matters, but they make so much money with their assets and businesses that they still have money left to re-invest if they have paid the rest of the well, but the poor spend so much money on school, food and burdens that they don't want to take the risk of losing everything or they do not have the money to take a risk , because they have spent so much money on burdens that they have not made any profits out of it.

The book has taught me that you must do a lot of research on business before you invest or use money within them, because maybe it seems like a good asset, but at the end of the day it is a burden you would make a loss rather than a profit. The book also explains what big role beslasting on your salary can play and that it just becomes more how harder you work and getting a bigger salary, because although you earn more the harder you work barrel tax a great bite from it and the person who is totally above open the food chain is getting more money and more benefits.

The book tells us that if you decide to intervene in the business world, you should rather start your own business and be an employer as an employee, because that's how you're going to succeed and still have money about your old days.