Rich Dad Poor Dad
(Robert T Kiyosaki)
Write your abstract here. "Robert.T Kiyosaki is a person with an extraordianry intellect.He has an extremely strong natural talent and aptitude when it comes to dealing with money". These were my first thoughts after reading the book "Rich dad,Poor dad".But how true are these thoughts ? Is he really "the God of money" ? Well, in my true opinion, no.In fact not at all.He is just one of those rich people who understand how money works.The only way he is different from other rich people is that he is willing to share his knowledge. So what exactly is this book all about ? Money ? Well, yes. of course.But not only money.Its about about seeing the complete picture, those many many factors, basic ideas, those most vital facts that we miss out, beacuse we look only at the money. Kiyosaki teaches a very simple formula for people to get rich.And when one thinks about it, it is indeed damn simple. He says, if you wanna get rich, just build your assets and keep your liabilities low.Thats it !!! Surprisingly here, Kiyosaki expresses a strong thought behind a very simple idea. He gives examples of how a lot of people (especially newly wed couples) fall into what he calls the "rat race"...work hard...earn more...pay more...buy more...work harder...earn even more....pay even more...buy even more....and on and on.And what happens eventually is that you wake up one morning to find out that you are in the middle of a deep financial crisis.You have loans against your house, you have loans on your cards, you have to pay them all, and what you earn is much less that what you have to pay.So you simply work harder, thinking that getting a raise would solve the problem.When in fact your liabilities go up with your income. The solution to the problem according to Kiyosaki is that you build your assets till you actually can afford that liability waiting around the corner, it may be a new car, or a new house, or anything that leaves a hole in your pocket.Its that simple...build your assets, before you want to have liabilities.What he is trying to say in the book is, not to consider your income as your asset.An asset would be an alternate source of fixed income, maybe monthly or yearly income.Kiyosaki suggests building a good financial and working knowledge of stocks, bonds, small caps, real estate etc. etc. as these are good forms of assets. He claims that people simply refuse to use thier minds when it comes to money.Why dont't they thik before they build those heaps of liabilities or expenditures.Kiyosaki suggests that building a strong financial knowledge starts with a strong foundation.He explains that need creates want.We must train the mind to think and use it to tell us ways in which we can earn money.Its all about building a good financial aptitude.And its so easy, that everyone can do it. The book also tells us how children getting the basic school education miss out on financial awareness.Schools don't teach you the science of money and besides accounts is too boring to study.Nobody cares to study about money and then they come up with all sorts of queries and requests asking how to get rich soon etc. etc.The book tells us that mastering money isn't a big deal at all.One need not study accounts to do that.The book teaches you how to master money and it does that by teaching simple and basic concepts revolving around money. The book also tells about the history of taxes and the power of corporations.It describes how taxes eat away your income and what are the hidden powers of corporations.According to Kiyosaki the rich make money work for them while the poor work for money and that the rich don't just know to earn or accumulate money, they know to keep it.With smart examples from his own life, Kiyosaki explains how to make money work for you. All in all, the book is nicely structured with exent examples dealing with day to day life scenarios and human emotions involving money.Its a great book for kids, adults and anyone who wants to get rich and who wants to know how.
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