Written by Robert Kiyosaki and Sharon Lechter in 1997, Rich Dad Poor Dad is based mostly on Kiyosaki’s young days spent in Hawaii. Enriched by Kiyosaki’s personal experience and the teachings he received from his rich dad and poor dad, the book highlights different attitudes towards money, work and life.
Framed around six main teachings and lessons, the book is mostly a self-reflection. Apart from the financial benefits, the book also describes and highlights the teachings he got from his poor dad, i.e., empathy and responsibility towards society.
Described as a personal finance book, it has not only challenged, but has also changed the way people think about money. The book talks about Kiyosaki’s background, his business ventures and investments and variation between possessions and liabilities and what importance they both have in terms of starting and owning a business. It also sheds light on the teachings given by rich to their kids, which is usually missed by poor as well as the middle class parents and why it is important to have financial literacy over and above all.
It also provides impetus on doing work for learning and not for earning and teaches the importance of investing and building business. This path-breaking book also showcase how one must be prepared to take action and risk and communicates the idea of how one’s primary residence is a liability and not an asset. It communicates the importance of intelligence and literacy in terms of finance and how financial and entrepreneurial skills play a vital role in the success. How to use power and prosper with the help of investment skills and why it is important to possess investment skills are also written in clear and crisp words in this book.
The book also talks of the importance of investment and free enterprise and urges the prospective investors and businessmen to learn from others, especially from rich people and generate new ideas to excel and succeed in life.
Originally published in 1997, it was also selected commercially. Termed as New York-Times bestseller, the book has been a boon for management and financial aspirants.