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Rich Dad Poor Dad





edwinl
Quote:
Rich Dad, Poor Dad is Robert Kiyosaki's and Sharon Lechter's first best-selling book. It advocates financial independence through investing, real estate, owning businesses, and the use of finance protection tactics.

Rich Dad, Poor Dad is written in an anecdotal manner aimed at making finances interesting.[citation needed] The most central element stressed by Kiyosaki and Lechter is the advocacy of owning the system or means of production, rather than being an employee of someone else.

Summary
It is largely based on Kiyosaki's upbringing and education in Hawaii, although the degree of fictionalization is disputed. Because of the heavy use of allegory, some readers believe that Kiyosaki created Rich Dad as an author surrogate (a literary device), discussed further in the criticism section below. Many readers believe that the "Rich Dad" in the book is actually the founder of Hawaii's widespread ABC Stores.

Anthony Robbins holds a seminar called 'Wealth Mastery' and one of the keynote speakers is a gentleman called Keith Cunningham. During the seminar Cunningham claimed to be Kiyosaki's Rich Dad. This is highly unlikely not only because of the similarity in age between Cunningham and Kiyosaki, but also because Kiyosaki had stated in his books that Rich Dad had died in 1994. Some have claimed that Rich Dad was a person named Richard Kimi, the deceased founder of Sand and Seaside Hawaiian Hotels.

The book highlights the different attitudes to money, work and life of these two men, and how they in turn influenced key decisions in Kiyosaki's life.

Among some of the book's topics are:

the value of financial intelligence
that corporations spend first, then pay taxes, while individuals must pay taxes first
that corporations are artificial entities that anyone can use, but the poor usually don't know how
According to Kiyosaki and Lechter, wealth is measured as the number of days the income from your assets will sustain you, and financial independence is achieved when your monthly income from assets exceeds your monthly expenses. Each dad had a different way of teaching his son.

from wikipedia
brokenadvice
Just to let you know, the quote tags should go around the entire quote, not just the citation.
edwinl
Moderator's note: PLEASE USE QUOTE TAGS.

http://www.richdad.com/richdad/RichContent.aspx?cpid=5 wrote:
I had two dads - a rich one and a poor one by Robert Kiyosaki

One dad was highly educated and intelligent; he had a Ph.D. and had completed four years of under-graduate work in less than two years. He then went to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies. All on full, financial scholarships.


My other dad never finished the eighth grade. Both men were successful in their careers, working hard all their lives. Both earned substantial incomes.


Yet one dad struggled financially all his life and the other dad would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities, and his church. The other left a legacy of unpaid bills. Both men were strong, charismatic, and influential. Both men offered me advice, but they did not advise the same things.



Contrasting Points of View



Having two dads as advisors offered me the perspective of contrasting points of view: one of a rich man and one of a poor man. The problem was that my rich dad was not yet rich, and my poor dad not yet poor. Both were just starting out in their careers; both were struggling with money and families.



But, regardless of those facts, both had very different points of view on the subject of money.



One dad would say, "The love of money is the root of all evil." The other, "The lack of money is the root of all evil." Having two dads - and loving them both - forced me to think about, and ultimately choose, a way of thinking for myself.



I had to think about each dad's advice and, in doing so, gained valuable insights into the power and effect of one's thoughts on one's life. For example: My poor dad had a habit of saying, "I can't afford it." My rich dad forbade those words to be used. He insisted that I say, "How can I afford it?" One is a statement, the other a question. One lets you off the hook; the other forces you to think. My rich dad would explain that by automatically saying the words "I can't afford it" your brain stops working. By asking the question "How can I afford it?" your brain is put to work.



Exercise Your Mind
My rich dad did not mean 'buy everything you wanted.' He was, though, fanatical about exercising your mind the most powerful computer in the world. My rich dad said: "My brain gets stronger every day because I exercise it. The stronger it gets, the more money I can make." He believed that automatically saying "I can't afford it" was a sign of mental laziness.



Although both dads worked hard, I noticed that my Poor Dad had a habit of putting his brain to sleep when it came to money matters. My Rich Dad, on the other hand, made a habit of exercising his brain. The long-term result was that one dad grew stronger financially and the other grew weaker.



Our Thoughts Shape Our Lives


Being a product of two strong dads allowed me the luxury of observing the effects that different thoughts have on one's life. I noticed that people really do shape their lives through their thoughts.



The power of our thoughts may never be measured or appreciated, but it became obvious to me as a young boy that there was value and power in being aware of my thoughts and how I expressed myself. I noticed that my poor dad was poor not because of the amount of money he earned which was significant but because of his thoughts and actions. As a young boy having two fathers I became acutely aware of being careful in deciding which thoughts I chose to adopt as my own and to whom should I listen my rich dad or my poor dad?



At the age of nine I decided to listen to and learn from my rich dad about money. In doing so, I chose not to listen to my poor dad my real dad even though he was the one with all the college degrees.



Dad Differences

One of my dads is a multi-millionaire. The other is a poor man. Why? Very simply, it comes down to their respective attitudes toward money and life. Take a look at the differences... and think about where you fit...


Rich Dad always took a percentage off the top of any income he earned. He put this money into an investment account that went toward purchasing his assets. Poor Dad spent all his money first and never had any remaining for investments.

Believed that the company you worked for or the government should take care of your financial needs. Believed in financial self-reliance and financial responsibility.

Focused only on academic literacy. Focused on financial literacy as well as academic literacy.

Learned only the vocabulary of academia. Learned the vocabulary of finance "Your words are the most valuable tools you have."

"I work for my money." "My money works for me."

Thought that making more money would solve his financial problem. Knew that financial education was the answer to his financial problems: "It's not how much money you make that's important it's how much money you keep and how long you keep it."



Understanding the difference in attitudes between rich dad and poor dad is essential to taking the first steps to financial freedom.

For a comprehensive look at how to battle the Poor Dad mentality and adopt the Rich Dad state of mind, learn more about the tools we offer to help you on your journey to financial freedom.
lagoon
Are you serious???

You can't just copy a massive excerpt without quote tags just to get a load of points!
dbershevits
It is largely based on Kiyosaki's upbringing and education in Hawaii, although the degree of fictionalization is disputed. Because of the heavy use of allegory, some readers believe that Kiyosaki created Rich Dad as an author surrogate (a literary device), discussed further in the criticism section below. Many readers believe that the "Rich Dad" in the book is actually the founder of Hawaii's widespread ABC Stores.
Anthony Robbins holds a seminar called 'Wealth Mastery' and one of the keynote speakers is a gentleman called Keith Cunningham. During the seminar Cunningham claimed to be Kiyosaki's Rich Dad. This is highly unlikely not only because of the similarity in age between Cunningham and Kiyosaki, but also because Kiyosaki had stated in his books that Rich Dad had died in 1994. Some have claimed that Rich Dad was a person named Richard Kimi, the deceased founder of Sand and Seaside Hawaiian Hotels.
The book highlights the different attitudes to money, work and life of these two men, and how they in turn influenced key decisions in Kiyosaki's life.
Among some of the book's topics are:
the value of financial intelligence
that corporations spend first, then pay taxes, while individuals must pay taxes first
that corporations are artificial entities that anyone can use, but the poor usually don't know how
According to Kiyosaki and Lechter, wealth is measured as the number of days the income from your assets will sustain you, and financial independence is achieved when your monthly income from assets exceeds your monthly expenses. Each dad had a different way of teaching his son.

It's a pretty good book.
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