Rich Dad Poor Dad
This was the first book I ever read on the topic of how to make money. I was about 12 at the time. For someone with absolutely NO knowledge of the financial world, this book made a lasting impression on me.
This is the fundamental book for making money. Period. Especially if you are relatively young and can’t handle a bunch of financial jibber-jabber.
About the book: Rich Dad Poor Dad is based on the experience of the author growing up in Hawaii with two dads: the first, his biological father with a college degree, was the poor dad, always struggling with money. The second, the rich dad, never finished eighth grade and instead learned about the world of money.
And Robert Kiyosaki, at the age of 9, decided to listen to his rich dad for financial advice.
The 6 principles taught in the book are the basics of handling money. You can’t get much simpler than what is said here (a 9-year old could understand it for god’s sake)! You don’t need much more than first-grade math skills to get something out of it.
Don’t take it’s simplicity as a detriment. It’s actually amazingly refreshing compared to most other financial books.
(Don’t discount more advanced books, either. This one, in my opinion, is just the best one to begin with.)
A lot of what is taught is in the form of super-simple diagrams (not kidding, just 4 boxes are needed to show how the rich get rich and the poor stay poor). Me, being a mostly visual learner, loved it!
One of the major themes in the book is to teach people how money works and how it can work for them. This is something that is NEVER taught in school. Rich Dad Poor Dad provides a solid basis for everything having to do with passive income.
What I like about the book is it teaches SIMPLE guidelines, not a one-size-fits all financial retirement plan. Some people may need that extra boost if you’re in a ton of debt, but for the rest of us, you can get by with the principles in this book.
As stated in the book, these are guidelines more than answers. There is no magic bullet to getting rich, only principles.
“Most people went to school and never learned how money works, so they spend their lives working for money.”
The Verdict: This is fundamental to the making of money in our world. It should be required reading in schools.