Rich Dad Poor Dad
A lot of individuals have checked out Robert Kiyosaki's books (and he has a great deal of them), but this is the one that started them all.
I think what endears individuals to Rich Dad Poor Dad is the story. It appears to me that whenever a non-fiction book teaches with stories, it does very well. So, if you're going to write a non-fiction book, weave your information into a story.
Rich Dad Poor Dad is the story of Robert finding out the habits of the rich from his buddy's father. Robert's own father was a highly paid, extremely educated government official, however who ended up poor this is his "poor dad". His best friend's dad was not highly educated, however he started lots ofcompanies, purchased great deals of real estate, and invested in stocks. He is "rich dad".
Some lessons or themes that keep showing up:
* School prepares you for a job while financial education prepares you for better financial routines that cause a more thriving life
* The rich invest in ways that the poor and middle class do not
* The rich invest in assets that produce cashflow, and after that reinvest that capital into other possessions
* The poor invest in liabilities, or things that take cash out of their pockets
* The middle class tend to go to school, get a job, buy whatever on credit, get raises, then buy bigger homes and better cars, under-save and under-invest, then retire on less than exactly what they should have.
* There are 3 kinds of earnings:
- Earned earnings (exactly what you make when you're there.
- Passive earnings (cash that comes to you when you're not there ... that can come through businesses, real estate earnings, intellectual property, etc).
- Portfolio income (cash that likewise comes when you're not there ... but specifically from stocks, mutual funds, and other such paper investments).
As it ends up, Robert didn't go on to become a rich person prematurely into his adult years, like his best friend did. Robert entered into the Navy to learn the best ways to sail ships, then to the Marines to fly helicopters in the Vietnam war. I may have the timeline wrong, but he he was a top-selling Xerox sales representative for a number of years. And then he went on to start an effective company importing/selling those Velcro nylon internet user wallets from the eighties. Keep in mind those? After a couple of years, that business folded.
Eventually he made the delve into buying assets ... income producing real estate ... and within 8 to 10 years, he and is wife retired. Then 6 months later on he came out of retirement to begin his financial education company ... that includes his books, board games, tapes, seminars, and so on. In reality, it seems like he's started an entire ton of other companies too, but that's what I've pieced together from other books of his that I've checked out. Notice that most of his activities focus around passive income?
It's a terrific and simple read and should shock you from your normal method of taking a look at loan. Another among his books that I like a lot is one he didn't even compose by himself ... appropriately named "Success Stories". It's a collection stories by a number of Robert's trainees that have taken his suggestions and who started companies or are gathering assets that produce capital.
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