Rich Dad, Poor Dad
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I first heard about this book as a sophomore in college during my speech class. A friend from my floor had read it, and he was giving a speech about how it changed his financial views and suggested it to the rest of the class. It wasn’t until I was in my senior year that I actually read the book, but it did get me thinking about my goals in life and what I wanted to do for a job. I realized that the career path I as on wasn’t for me.
Getting out of the “rat race” is something everybody would like to do. It’s the “rat race” of working the same job day in and day out, paying your bills month after month, and generally not making any headway to get yourself out of the cycle. Robert Kyosaki’s book Rich Dad, Poor Dad chronicles Robert’s life starting with the lessons he learned in early childhood.
The major theme of the book is to make your money work for you instead of you working for your money. This consists of creating assets by investing your money in vehicles such as dividend paying stocks, high yielding bonds, and real estate. Real estate gives the greatest return on investment of the three.
Kiyosaki believes that the idea of “get good grades, find a safe, secure job, and work hard” is a strategy that gets you trapped in the “rat race.” In order to enjoy our lives better, we must find other sources of income that don’t require us to work in order to receive payment. The money earned from those sources is called “passive income.” Knowing that you’re going to be making money while you’re not physically working or present at a job is the key to success. It is how the rich get richer and the poor get poorer.
This book has become my one of my favorites, and I have read it several times to keep Robert’s ideas fresh in my mind and to remind me of how I want to live my life. I highly recommend this book to anybody who wishes to escape the “rat race” and create great wealth.
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