Rich Dad Poor Dad

Rich Dad Poor Dad takes a contrarian approach to the path chosen by most in our society since the industrial revolution in pursuing the “American Dream”. In his book, Robert Kiyosaki tells of his upbringing observing and learning from his friend’s dad and his own dad. There were many differences in how they approached their work, how they viewed and used their money, and how they ultimately fared in life. He convincingly asserts that times have changed. Since Nixon took the US off the gold standard back in ’71 and Congress passed the Revenue Act in ’78 adding section 401(k) to the tax code, the value of money is not the same and not to be depended on. Loyally holding a good job at a large company and saving for retirement in mutual funds no longer secures a good way of life, nor a good chance for a fulfilling, much less not bankrupt, retirement. This new game of money has new rules.

Robert Kiyosaki details the Karate Kid style lessons from his “rich dad” in his upbringing, which are intriguing in their own right. But more, he tells of how he struggled to first trust and then follow what he learned before ultimately succeeding in following that same path. Hearing two opposing mentors, he observed their results and chose which advice to follow. Most of us lack the good fortune of learning from a “rich dad” in the same way, but Rich Dad Poor Dad vicariously brings the experience to the reader.

This book has been on the New York Times bestsellers list for six years running, selling over 40 million copies worldwide. The Rich Dad Foundation with its stated purpose of increasing the financial intelligence of others offers a wealth (pun intended) of other books and resources to further your learning. Give it a try and decide for yourself. If nothing else, Google Rich Dad’s Cashflow Quadrant for some insight. If you’ve been avoiding this book for some unknown reason, stop. Read it. It’s worth your time. Be forewarned though – it can be a gateway book.