What the Rich Teach Their Kids About Money, that the Poor and Middle Class Do Not!
Written in 1997, Rich Dad, Poor Dad is Robert Kiyosaki’s first major commercial success, and sets up and introduces the basic premise and concepts that Robert Kiyosaki explores in his Rich Dad series. The concept of making your money work hard for you instead of working hard for your money is portrayed in Rich Dad, Poor Dad through precisely the decisions and perspective each dad has concerning money and the financial world.
Robert Kiyosaki’s real father, the distinguished educator is the poor dad due to his financial situation. Even though the poor dad is respectable and well learnt, he still makes bad decisions when it comes to money. The rich dad however, does not have a reputable education but rather has business sense and makes his money work for him. In the end, it is the rich dad’s insights into the world of money and his understandings of which makes him successful financially. Robert Kiyosaki stresses the point that rich people do not accumulate money but in stead they accumulate assets which generate cash flow. So, in Rich Dad, Poor Dad, Robert Kiyosaki shares the lessons he has learnt through his experiences with both dads, and develops his philosophy of the importance of being financially literate. Rich Dad, Poor Dad was written with Sharon Lechter.