“Rich Dad’s Guide to Becoming Rich” by Robert Kiyosaki is my favorite book of all time. That is to say, all of Robert Kiyosakis’ books are my favorites.
Mr. Kiyosakis’ books all say the exact same thing, yet they are all different. He has simple messages he tells people across multiple parables (stories). I love his writing style because people should already know what you will say before reading your work.
Reading Mr. Kiyosakis’ books is like coming home from college or the military. You know what your parents will talk about, cook, and wear. However, you look forward to coming home the longer you are away.
This book focuses on the difference between becoming debt-free and building financial education. To become rich, you must become financially literate and take massive action.
1) Popular personal finance personalities tell people to cut up their credit cards to help them become debt-free. However, they don’t teach about financial statements and good debt.
2) Getting poor grades in school is not conducive to learning English, writing, and math. However, your banker will not check your report card from school; they will check your financial statement.
3) You can buy liabilities such as boats and fancy cars; however, you should purchase a corresponding asset that produces enough income to pay for these luxuries.
4) One percent of the population will become rich. Most people are paralyzed by fear of change and decide taking no action is best to continue life “quietly.”
5) Making mistakes is what separates the rich from the poor. Rich people make many mistakes but learn from them. Poor people avoid making mistakes at all costs, which keeps them at their day jobs.
I am a huge fan of personal finance gurus like Dave Ramsey because the average person doesn’t want to keep learning. For these people, saving and staying debt-free are their best options to have a quality life.
Robert Kiyosakis’ works are for the top-tier learners, entrepreneurs, content creators, and investors. He speaks to people who have a passion for learning, making mistakes, and leading from the front.
Every book he released becomes more valuable each time I read it. We have moved from the industrial age to the information age, and those not changing every 18 months will fall behind.
The only barriers that prevent people from growing are those they impose on themselves. A person can change their circumstances using the three types of income (earned, portfolio, passive) and four cashflow quadrants (employee, self-employed, business owner, investor).
They only need to decide if they are willing to pay the price to be different—most people can’t change. This is another excellent book by my favorite author, Robert Kiyosaki.
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