What is the main lesson in Robert Kiyosakis “RICH DAD, POOR DAD” book?
The Rich Dad series has made a lot of enemies by challenging norms. His main point is to start thinking differently. If I had to narrow down your question to only a few concepts, I would say that his most obvious challenge is to the buy and hold strategy that most mutual fund companies preach to their customers. You could not have asked this question at a better time. Last week when the indices fell, most of the commentators said “Don’t worry. Invest for the long run. Don’t take out your cash now. It will always go up”. This is fundamentally flawed, and Kiyosaki explains why if you read the rest. His books go on to talk about leverage and how to invest using OPM (other people’s money) and how real estate cash flow investing and business building are the alternate cornerstones to the obvious stock market. If you want some validation of his wisdom, consider this. He wrote “Rich Dad, Poor Dad” and “What the rich invest in that the poor and middle class do not”, just prior to the March 200
The main idea is that people tend to think about their property and debt in certain ways…for example, I get a mortgage and own my own home, buy a car, etc., The point of this book is to think of your money and assets the way that investors think of it. Your mortgage is your biggest liablility not an asset until you own it. Spending money to make money is good, borrowing with no return is bad. Here is what the author lists as the description: “Argues that a good education and a secure job are not guarantees for financial success, and describes six guidelines for making money work for you.” You can read some of the book by clicking on the link above. It wasn’t a bad r
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- What is the main lesson in Robert Kiyosakis "RICH DAD, POOR DAD" book?
