Financial Education Lessons In Robert Kiyosaki's Book Rich Dad Poor Dad
Table of contents
The “Rich Dad Poor Dad” is one of the best-selling books that played an important role in the Financial industry, is written by the famous ‘Robert Kiyosaki’. The book is a “New York Times” bestseller and sold over 40 Million copies Worldwide. This book is about the story of Kiyosaki who has two fathers. The poor dad was his biological father, and the rich dad was the father of his childhood best friend, who taught him the financial education to become rich.
Lesson 1: Rich Dad, Poor Dad
The author describes how he and his best friend, Mike, want to get rich and make money using the illegal method of creating nickels. Their plan was foiled by Mike’s father or the rich dad. Rich dad then shares the necessary financial education with both of them and their first lesson is about escaping the Rat Race.
Lesson 2: The Rich Don’t Work for Money
In lesson 2 Kiyosaki want to earn money and he asked his father several time how to earn money. He and his friend mike are only poor boy in their school. his one of rich friend jimmy’s mother take all his best friend to beaches for weekend expect kiyosaki and his friend because their where poor. Both of them want to do something to earn money. They used to go several neighbour house to save their toothpaste tube. they used to give 10% percent of hour to do a business. and the money they are collecting is not enough and they need to earn more. the summary is that we need to give extra percent of live to other work
Lesson 3: Why to teach Financial Literacy
In this lesson mike father want to do retired from his job and he want to give handover to his son who is still not capable to work. They where thinking that how the rich people get richer and why the middle class people get struggle. And the find the answer that middle class people always struggle with the income that they earn which is not enough to their family and he saw his rich dad assets which always covers the expenses of dad. He summary said that earn the money that can cover you income easily.
Lesson 4: Mind your own Business
Rich people always focus on the asset how to increase the asset. kiyosaki said that the business man should look over the own business not employee business. The businessman should not think about how to become reach they should think about how to spread their business and they should develop new technology that make the work faster and should think about that how they can increase their assets that can cover their income.
Lesson 5: The History of Taxes and the power of corporations
Kiyosaki explains how the poor let big corporations manipulates them, while the rich use big corporations to protect and enhance their assets. For instance, the rich have the advantage of using corporate to earn money, spend everything it can, and only be taxed on anything that is left. The author also recommends one to develop their financial IQ by gaining knowledge about investing, accounting, law, and understanding the market.
Lesson 6: The Rich Invent Money
Kiyosaki says that each person is born with talent, but the talent is suppressed because of fear and self-doubt. He also says that it is not necessarily the smart people, who get ahead, but the bold and adventurous. People do not get ahead financially even when they have a lot of money because they fail to top into opportunities and are afraid to take the risks. Most of the people just sit around and wait for the opportunity to come to them.
Lesson 7: Work to learn, don’t work for Money
The author discusses the skills an individual need to develop financial success in life. He
Lesson 8: Overcoming Obstacles
Kiyosaki talks about five personalities that hamper human beings. And they are fear, cynicism, bad habits, laziness, and arrogance. He also states that it is have fear, what truly matters is how we handle it. He also suggests people focus on the reward rather than the problem. The author gives an example that most people say they want to get rich, and when he suggests them buying real estate, their initial reaction is “but I don’t want to fix toilets, ” which is ironic.
Lesson 9: Getting Started
This lesson helps us tips on building personal wealth. Kiyosaki says that if we want to get rich, we must find a reason greater than our current reality to motivate us. And then he goes on to say that we also need to feed our mind to continue to learn. He also advises people to choose their friends carefully and do not be afraid to make friends with people who talk about money because there may be great lessons to learn. After that, he says that one must learn to pay himself first, even if short of cash.
Lesson 10: Still want More? Here are some to Do’s
In this last lesson, Kiyosaki continues to offer great insights about achieving person wealth. He stresses that one should stop doing things that are no longer viable. He encourages people to look for new ideas, experience, and keep the learning curve alive through taking courses, attending seminars, and learning from other successful people in the industry. After all, the more we learn, the more we can earn. In this way, Kiyosaki gives us knowledge about financial education.
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