Book Review – Rich Dad, Poor Dad

Rich Dad, Poor Dad

Okay, so I’m going to be honest. I have never been a big Robert Kiyosaki fan. There I said it. Something about the seminars and his articles always seems like I’m being sold something. I have read about him, and the advertising seems more like a get rich quick scheme than legitimate financial advice. Boy was I wrong.

This perception made me hold off from reading Rich Dad, Poor Dad even though it is so widely recommended. I recently decided I had to give it a read and it did not disappoint.

The book starts with a young Robert learning finances from his educated biological father (poor dad) and his best friend’s wealthy businessman father (rich dad). The book challenges the, “Get a good education, work hard, get a good job, and the rest will take care of itself” message. Rich dad was all about learning as you go. His most important message was how to make your money make money. After all, isn’t that really the goal?

Another thing that really hits home, is the importance placed on gathering skills. Too many people these days focus on specialization. If something goes wrong in your specialization you’re screwed. The larger the volume of usable skills acquired the more ways to generate income. Considering how quickly the times are changing, I want more skills available to me to meet new technologies and demands.

The main theme I took away from the book was that there are a vast amount of opportunities out there to make money. Once you realize that there are more ways to earn a living, other than sitting in a cubicle from 9-5, Monday to Friday, the world can really open up to you. With the number of opportunities available in today’s society, it is important to keep your mind open to all kinds of new ideas.

The education system is broken. Robert does a great job of outlining how financial literacy is not taught. In turn, so many people have lost the game before they even know they are playing. People are taught to be employees, they are not taught how to be entrepreneurs or to manage money effectively. This is a major issue in our society and helps to grow the gap between the rich and the poor.

This is a must-read book for anyone starting out on their money journey. I gained many insights from Robert. I know I will be throwing this into the rotation of books I read time and time again. Have you read Rich Dad, Poor Dad? What were your thoughts?

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About the Author: The Accountant

The accountant spent most of his career in public practice until recently when he took a job with a local company as their in house accountant. As a kid he was always a saver and was constantly trying to come up with new ways to make money.

4 Comments

  1. The book does a good job of changing the reader’s perception of what really is an asset and what is a liability. For example, it challenges the assumption of a home being an asset unless it is used to produce income.
    I think this is an excellent book for people in any stage of their FI journey.

    1. Agreed, I also like how it challenges you to change your views about making money. There are so many ways to produce income outside of a standard “job”.

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