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| Book PDF name | Rich Dad Poor Dad |
| Author | Robert Kiyosaki |
|---|---|
| Language | English |
| Genre | Self Help Book |
| Free PDF Link: | Available |
| Download Link | Go to Download PDF Bottom |
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Rich Dad Poor Dad Book Summary and Review
Robert Kiyosaki’s “rich dad poor dad free pdf” , is a book on personal finance that breaks conventional ideas regarding money and wealth. Kiyosaki presents financial literacy lessons and the way to achieve fiscally independent life through his own upbringing story. The book is broken down into several chapters, each focusing on a particular area of personal finance and wealth creation.
At the start of this story, the author talks about his childhood and how he had two dads – Rich Dad or Poor Dad; The latter being his biological father who although is well-educated with a good job still holds quite traditional opinions on money. His “Rich Dad” is his best friend’s father, an entrepreneur who was never a high-school graduate but had great financial wisdom.
One of the key messages that Kiyosaki teaches involves the distinction between assets and liabilities. He defines an asset as something that makes money in your pocket, while a liability takes out of your pocket. He stresses the need to accumulate wealth-building assets, such as real estate or businesses and reduce debt obligations.
Kiyosaki preaches financial education as an essential aspect of success in finances. He opines that schools only teach people how to work for money but not on the concept of making money He encourages the readers to spend time reading and learning about money, investing and financial strategies so as to bridge this gap.
This becomes the theme of the book. Kiyosaki describes financial independence as the time when your passive income from assets is more than an average person’s expenses, making it a choice rather than necessity to work. He emphasizes the need to work hard towards financial goals and set them clearly.
Kiyosaki introduces the Cash Flow Quadrant, a tool that categorizes individuals into four quadrants: Self-Employed, Business Owner and Investor. He gives a clarification that normally, the road to financial independence involves moving from the left side of this quadrant (Employee and Self- Employed) through to right hand section thereof where most passive income is generated.
The book rich dad poor dad free pdf takes the concept of entrepreneurship and investment power. Kiyosaki advises starting a business or finding something that will generate money to make the first step towards wealth creation. He tells readers to overcome a fear of failure and take calculated risks in life, stressing the fact that errors are actually valuable learning experiences.
Kiyosaki also addresses the significance of taxes in personal finance. He holds the opinion that knowing about tax strategies is crucial for making one rich. Through the use of legal tax deductions and prudent structuring of investments, individuals can lower their tax liabilities and keep more of what they earn.
Another major idea in “rich dad poor dad free pdf” is real estate investing. He recounts his own experiences in investing in real estate and advises readers to take up this route.
The book (rich dad poor dad free pdf) focuses on the importance of financial statements, in particular issue related to income statement and balance sheet. Kiyosaki advises to review financial statements frequently in order to know, how close s/he is toward becoming financially independent. He emphasizes the need to grow assets and minimize liabilities over time.
Kiyosaki encourages individuals to change their mindset from job security to financial independence. He points out that job security is just an illusion and controlling one’s financial future must come first. Continual attendance to financial education, making sensible decisions will enable people forge their own path towards riches.
In conclusion, “rich dad poor dad free pdf” by Robert Kiyosaki provides an interesting view of personal finance and wealth creation. Using contrasts between his own “Rich Dad” and the other man’s, now known as the so-called Some main points of the book: Studying to earn an income from assets and getting started with investments, investing in education related financial courses for this purpose , taking up entrepreneurship venture as a way through which he or she can get into business generating money along side it. His emphasis on how one should be engaged in activities geared towards achieving interdependence lies more on his economic principle whereby It is a useful handbook for those who want to increase their financial literacy and succeed financially.
