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  • Essay / A study of "Rich Dad, Poor Dad", by Robert Kiyosaki

    Summary of Rich Dad, Poor DadRich Dad, Poor Dad written by Robert Kiyosaki is the story of Robert as a young man learning the fashions of monetary life. Kiyosaki had two fathers, his biological and his best friends, each taught him different things about the importance of money and what he should do with the money when he gets it. This book teaches wealth, which does not necessarily mean rich; you can be rich with assets and investments, not just money. Kiyosaki's rich father said: let money work for you, don't work for money. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The book Rich Dad, Poor Dad began with Robert Kiyosaki describing his youth with his two fathers. Kiyosaki had a rich father and a poor father, one was highly educated and the other was a high school dropout, one was his real father and the other was his best friend's father. Kiyosaki's real father was the highly educated one with a doctorate, he was also the poorest, and his other father (his best friend's father) had dropped out of high school and become one of the richest men from Hawaii. Both wanted their sons to get a good education and gain gainful employment after college. But the poor father saw a profitable job as his son could work and get good benefits to be stable in the future. His wealthy father saw a profitable job as a Kiyosaki could own, to invest his profits and have assets, not debts. Kiyosaki's poor father wanted the best for his son but his way was to go to traditional school, find a good job to pay his bills. , and depend on social security for their retirement. In this way, the poor father remained poor, constantly paid his bills and died in debt. Kiyosaki realized the trail he was on at a very young age, so he and his best friend went to his best friend's father (his rich dad) to learn six lessons (below are the six lessons, with the main ones rich dad quotes) to become financially. rich. The first lesson was The Rich Don't Work for Money and focused on how he was taught to spend money. If schools taught people about money, there should be more money and lower prices, but schools only focus on teaching people to work for money, not on how to harness the power of money. The second Why Teach Financial Literacy teaches: The rich buy assets. The poor only have expenses. The middle class takes care of liabilities which it considers to be assets. The third Mind Your Own Business focuses on business. Keep your day job, be a great, hard-working employee, but continue to build that strengths column. The fourth, The History of Taxes and Corporate Power, points out that the reason the middle class is taxed so heavily is the Robin Hood ideal. The reality is that the rich are not taxed. It is the middle class that pays for the poor. The fifth book, The Rich Invest Money, states: “Most people work hard and save money, but they need to invest in assets instead of letting the money sit and earn little interest. The Sixth Work to Learn – Don’t Work for Money reveals that to have money, you must give it away. To be truly rich, we must be able.