Rich Dad Poor Dad – Book Review

In Robert Kiyosaki’s book, Rich Dad Poor Dad, he clearly points out that anyone can get rich. However, he warns that it is more difficult for children from the middle and lower classes because they have been taught incorrect information. For example, their parents told them, “Go to school and get good grades so you can go to college and get a steady job with good benefits.” These people have been taught to think, “I can’t afford it” instead of (as the rich do) asking, “How can I afford it?” There is absolutely nothing you cannot afford. When you sincerely want something, you will know how to get it.

One barrier that stands in the way of people achieving this goal is the fear of failure. Sometimes you will fail, but you have to turn it into a great opportunity by learning something from it and moving forward. There isn’t a single rich person who hasn’t failed, but the trick is: when he falls down, he immediately gets up, learns from it, and his great desire to achieve his goals only gets bigger.

A great example of this principle is the Battle of the Alamo. This was a complete failure for the Texans. They lost many soldiers. Despite this, or rather, because they understood the secret of turning a failure into a success, they used the Alamo to goad the Texans to victory. Even today, more than 150 years later, Texans still proudly speak of the Alamo. AND THEY LOST! Successful people are not afraid of losing. They understand that losing is part of the process.

What we have to understand is that your life is going to be difficult, unstable and full of failures, whether we are rich or poor. You can’t avoid that. You could also use the opportunities that life presents you and run with them. Don’t fight these opportunities! You can be stable and poor/middle class or take a chance and get rich. You choose.

So what do you do about it? How do you start? Start acquiring some income-producing assets. An asset that produces income is:

1. A business that does not require you to be there.

2. Inventory

3. Mutual Funds

4. Real estate

5. Ratings (promissory notes)

6. Music royalties, scripts, patents, etc.

7. Anything else that has value, generates income, and has a market.

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