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Rich Dad Poor Dad: A Must Read For Millionaires

Reviewing: Robert Kiyosaki Rich Dad Poor Dad  |  Rating:
doraemon By doraemon on
Badge: Publisher | Level: 10 | Education & Learning Expertise:
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Rich Dad Poor Dad is one of the best selling personal finance books of all time. It has sold over 20 million copies and has been translated in over 40 different languages. It was first published in April 2000 and has been in the New York Times best seller list six years running. Itm was written by real estate investor Robert T. Kiyosaki.

The book discusses about his two fathers. One is his "rich dad" who is his best friend Mike's father and the other is his"poor dad" which ishis biological father. The rich dad was an eighth grade dropout who eventually became one of the richest men in the state of Hawaii. The poor dad was a highly educated man with a degree and was the superintendent of the department of education for the state of Hawaii. But despite his academic achievements, he was always struggling financially and died a poor man.

I have earned a lot from reading this book. The first is how the wealthy think. The wealthy buy assets and accumulate them. The poor and the middle class accumulate liabilities and doodads (stuff). The second is that the wealthy use leverage through leveraging assets, money or people while the poor and middle class do everything by themselves. The third is that the wealthy have a positive view of money. The poor and middle class think money is an evil. Lastly, the wealthy work smart. The poor and middle class work hard.

I would greatly recommend this book to anyone who would want to improve his / her financial standing and quality of life. It disspells us from the wrong beliefs taught to us by school and society. It gets us to the right mindset on what money and wealth really is. The good thing about the book is that it is very user friendly and uses analogies and stories and doesn't delve too much on theories common people cannot understand. It is a very easy read but a very impactful one. The value of the book is worth several times its price.

Update On Dec 23, 2009: A caveat to people though. The book is not a step by step guide to attaining wealth. It is merely a guide on having the right mindset. The books author challenges us to use our intelligence to be able to find ways to gain wealth.