Book title: Rich Dad Poor Dad
Author: Robert T. Kiyosaki
Publisher: Warner Books
Publication year: 1997
It is good to instil into children relevant knowledge at least at the tender age they are wise enough to absorb wisdom. Most important is the issue of how to make money which launched Robert and Mike into the search on how to make money. Robert got to know on time some catalyst needed to aid his actualization of wealth. This becomes the bedrock of what begins as an adventure into the search for wealth which of course began with his inquisitiveness.
There seem to be elements of naivety or simply put sincerity of the heart in Mr Kiyosaki’s (Robert’s dad) response to him on (pg 34) where he says; “Because I choose to be a school teacher, but I really don’t know how to make money…” Mr Kiyosaki was blatantly transparent here and I begin to wonder if any father wouldn’t know how to make money in this present dispensation.
The idea of learning from two dads is one driving force for which I think this book caught the attention of most of its readers alongside the fact that one was rich and the other poor. At first, I had wondered the possibility of this title. Of course, we all know it is never possible that this would happen, but then I got to understand the relationship Robert built with his socialist dad (Poor dad) and his Capitalist dad (rich dad) who later lectured him on the cash flow quadrant.
Learning from his rich dad helped Robert set the distinction between the four major factors in the cash flow quadrant. Asset, liability, income and expenditure being the subject on which Rich dad taught Robert about finances played, a key role in determining how we handle money. Rich dad’s teachings happen to be a good start for Robert, setting the distinction between the rich and poor. An important distinction is that rich people buy luxuries last… (Pg 117). And this makes me think why we want to get all the good things of life all at once, even when we are not financially ‘there’ yet. The ability to delay this immediate financial gratification would have been a good idea if people can just wait for a little and watch their asset grow bigger.
Using the cash flow quadrant formula which has income and expenses upward and asset with liability downward, Rich dad was able to lead nine-year-old Robert and Mike the right way aright where money making and investment is concerned.
This is one book that will never go out of print, not in the mind of readers that it had gone on to engrave itself. Even when copies physically go out of print the mind still will reproduce such an astute literature ever written on the subject of money and investment. If you were given financial education while growing up, good for you but if you weren’t made to learn a proper financial education like Robert and Mike enjoyed while growing up, at least you find this book.