The Origins of the Rich Dad, Poor Dad Book
As a child, Robert Kiyosaki had two “dads”: his biological father and his best friend’s father. His real father was the “poor dad,” and his best friend’s dad was the “rich dad.”
Considering his father went to Stanford and earned a PhD while his “rich dad” didn’t even finish the 8th grade, this stark contrast between the two is even more shocking when you consider each of their financial success.
Robert Kiyosaki compiled all the financial life lessons he learned from each “dad” and poses some valuable ones to readers.
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Making Wise Financial Decisions
In this interview, Robert is very candid about his life lessons on money. He sits down with me to explain his interest in finances ever since he as a child in Hawaii.
Although Robert Kiyosaki’s family wasn’t exactly poor by standard poverty levels, he believes that they had a poor attitude. As in his dad’s case, higher education didn’t necessarily mean financial success.
Because of this, from an early age, Kiyosaki chose to learn from his “rich dad.”
The most important lesson he learned? The rich don’t work for their money. Instead, they make it work for them.
The rich focus on accumulating financial assets while most people only focus on earning an income. But at the same time, you shouldn’t be working to only amass money. Your main purpose should be working to learn.
By learning more skills, you’re learning how to invest in yourself, which massively increases your chances of success.
Financial Literacy Is Vital to Success
One of Robert Kiyosaki’s main issues with the educational system is they don’t teach students anything on financial literacy. While you can learn maths, English, and other important subjects, there’s shockingly very little taught about how to handle money.
Because of this, many people grow up to manage their money very poorly, whether they have very little or lots of it. Even with millions, it’s possible for someone to squander it in an instant.
Robert Kiyosaki got into numerous arguments with his professors in graduate school. These educators taught business and financial subjects, but didn’t actually have experience or a real grasp on these things. These were what Kiyosaki calls “fake teachers.”
He believes that to succeed, not only do you need to understand finance, but you need to actually experience it through people who do what they teach.