Review: Rich Dad Poor Dad

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Rich Dad Poor Dad is the “New York Times Best Selling Book”  since 8 years. Up to now, more than 30 Million copies are sold. It is the Best ever Personal Finance Book I have ever read in my life.

Robert T. Kiyosaki is the fourth generation Japanese American who is the author of this Book. Robert is an Educator, Investors & Entrepreneur.

Plot of the Story:

Robert call his educated real dad The Poor dad and his Best friend Mike’s Dad The Rich Dad in the book. When Robert was a 9 year old child, he received the advises on Money from both of his fathers – Rich & Poor. When it comes to money, Both of his fathers’ views on Money were totally different.

His Poor Dad said, “Work Hard for the Money” while

His Rich Dad sais, “Make your Money work hard for you.”

Whenever  Robert was seeing a new Luxurious Car, His poor dad used to say that, Son Whenever you see that car, think that we can’t afford it. When Robert went to his Rich Dad, his rich dad told him that whenever you see a Luxurious Car, think that How can I afford it?

In short, the whole book story goes like this. Robert received Financial advises from both of his dads and this Book is all about these Financial advises. The Best part is that when Robert was receiving these advises at the age of 9 years, his rich dad was not yet rich and poor dad was not yet poor. At the end, his one dad (The Poor & Real One) died in a deep debt leaving behind unpaid bills & debt while his Rich dad (His Best Friend Mike’s Dad) died in Hawaii as a Richest Person of Hawaii leaving behind a Successful Business Empire for his Son Mike & Millions of Dollars in Charity.

The Rich Dad Poor Dad is a Book on those Financial advises that Rich teach their children but Poor & Middle Class Don’t. The Book has 6 Lessons on Money which Robert’s Rich Dad taught him. Here are these Lessons.

01) The Rich don’t work for Money

02) Why Teach Financial Literacy?

03) Mind your own Business

04) The History of Taxes & The Power of Corporations

05) The Rich Invent Money

06) Work to Learn – Don’t work for Money

In the book, all of the above lessons are explained in very detail.

Controversy about Rich Dad Poor Dad -

The Book was published in 1997 and after that, it has gained tremendous popularity as well as Criticism worldwide. Many Personal Finance Gurus don’t believe in the advises of the book. In fact, many personal Finance Gurus & Bloggers advise you not to read this book because some financial advises in the book are extremely risky.

One Most controversial advise in the Book is that, “Your Home is not an Asset but it’s your Biggest Liability.” And Robert has explained well in the Book that Why your Home is not an Asset even though the Government and Bankers say that it’s an Asset.

Here is the Negative Analysis of Rich Dad Poor Dad by John T. Reed.

Buy or Don’t Buy?

Well, Rich Dad Poor Dad is the Book for those who want to change their mindset. It is the Best Entrepreneurial Book ever I have seen in my life. But if you are a person who is looking for some real Personal Finance advises such as live below your means, How to Invest in Mutual Funds, The Power of Compound Interest and Frugal Living than this Book is not for you.

If you are a youngster who is in college or just left the college and want to achieve a Great Wealth in your life than this Book is for you. This Book is not for those Who want to work hard to get a good job, Investing Regularly in Mutual Funds & Retire at the age of 65. This Book is for those who want to reach at the peak of the wealth in their lives and want to enjoy a Luxurious Life Style.