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| Rich Dad, Poor Dad |
"If you do not have the competitive advantage, don't compete". - Robert Kiyosaki, Rich Dad, Poor Dad
Rich Dad Poor Dad is a book by Robert Kiyosaki and Sharon Lechter. It advocates financial independence through investing, real estate, owning businesses, and the use of finance protection tactics.
Rich Dad Poor Dad is written in the style of a set of parables, ostensibly based on Kiyosaki's life.[1] Kiyosaki stresses the ownership of high value assets, rather than being an employee as a recurring theme in the book's chapters.
SUMMARY :
The book is largely based on Kiyosaki's upbringing and education in Hawaii. The book highlights the different attitudes to money, work and life of two men, and how they in turn influenced key decisions in Kiyosaki's life.
Among some of the book's topics are:
- the value of financial intelligence
- that corporations spend first, then pay taxes, while individuals must pay taxes first
- that corporations are artificial entities that anyone can use, but the poor usually do not know how
According to Kiyosaki and Lechter, wealth is measured as the number of days the income from your assets will sustain you, and financial independence is achieved when your monthly income from assets exceeds your monthly expenses. Each dad had a different way of teaching his son.
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